Overview
What is Southeastern Development Opportunit?
Southeastern Development Opportunity is a nonprofit organization situated in Shelby, Mississippi. With a modest workforce of two individuals, their primary mission is to provide affordable housing solutions for individuals and families residing in the Mississippi Delta region. Their efforts have led to the successful placement of numerous low-income housing units, and they continue to contribute to the development of additional units as funding becomes available. The organization remains committed to addressing the housing needs of the community in this region.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54%, One-Star out of Four Stars
Southeastern Development Opportunity has received a low rating of 54%, indicating concerns regarding its financial management and accountability. While the organization scores well in areas such as board independence and adherence to policies regarding conflicts of interest and whistleblower protections, its overall financial performance raises significant red flags. Specifically, the charity has reported a 0.00% program expense ratio, suggesting that none of its expenses are allocated towards its intended programs.
The organization does exhibit strengths in governance, as evidenced by its perfect scores for independent board members and board size. These factors indicate a commitment to maintaining a robust oversight structure. However, the serious limitations in financial ratios, particularly the liabilities to assets ratio standing at 23.24%, show potential risks regarding its financial health and sustainability.
Overall, while Southeastern Development Opportunity demonstrates a solid governance framework, its financial management practices warrant scrutiny and may hinder its effectiveness in fulfilling its mission. Prospective donors and stakeholders should consider these factors critically when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Southeastern Development Opportunit legitimate?
Southeastern Development Opportunit is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southeastern Development Opportunit submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $70,344
For more financial information, click here
What is the mission statement of Southeastern Development Opportunit?
The mission of Southeastern Development Opportunity focuses on providing affordable housing solutions for low-income individuals and families residing in the Mississippi Delta region. They have shown success in placing various housing units into service, both directly and indirectly. The organization remains committed to contributing to the development of additional housing units as financial resources become available. Their ongoing efforts aim to alleviate housing-related challenges in this particular region.
Who is the CEO of Southeastern Development Opportunit?
Linda Balducci is the Executive Di of Southeastern Development Opportunit.
What is the revenue of Southeastern Development Opportunit?
Southeastern Development Opportunit's revenue in 2022 was $61,663.
Who are the executives of Southeastern Development Opportunit and what are their salaries?
The average compensation at Southeastern Development Opportunit during 2022 was $35,172. There are 2 employees at Southeastern Development Opportunit.
Here are 6 key members and their salaries:
- Compensation: $62,155
- Related: $0
- Other: $79,200
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Southeastern Development Opportunit?
Southeastern Development Opportunit's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southeastern Development Opportunit
Southeastern Development Opportunity, a nonprofit organization, is dedicated to serving individuals and families with low income residing in the Mississippi Delta region. The organization's mission is centered around providing affordable housing solutions, striving to make a significant impact both directly and indirectly. Through their efforts, they have successfully placed numerous low-income housing units into service within the Mississippi Delta region. Furthermore, Southeastern Development Opportunity continually engages in the development of additional housing units as financial resources become available. Their ongoing commitment to this cause underlines their dedication to improving living conditions for those in need within the specified region.
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Impact
August, 2024
Southeastern Development Opportunity has had a significant impact on the Mississippi Delta region by providing low-income housing to individuals and families in need. Through their efforts, a number of low-income housing units have been successfully placed into service, directly benefiting those facing housing insecurity in the community. Additionally, their ongoing participation in the development of more units indicates a commitment to addressing the ongoing housing needs of the region. Their work plays a crucial role in improving the living conditions and stability of vulnerable populations in the Mississippi Delta area.
This information is meant to be a general summary of Southeastern Development Opportunit. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $68
- Program Service Revenue: $59,808
- Gross Receipts: $184,395
Assets and Liabilities:
- Total Assets: $2,103,351
- Total Liabilities: $488,836
- Net Assets: $1,614,515
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$88,304
OTHER
Revenue
$3,030
PARTNERSHIP RENTAL LOSSES
Revenue
-$31,526
Organization Details
Founding Year
1993
Phone
(662) 398-7090Principal Officer
Linda Balducci
Main Address
P O BOX 241, SHELBY, MS, 38774
NTEE Category
Code: L20Z - Housing
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