Overview
What is Southern Mutual Help Association Inc?
Southern Mutual Help Association Inc, based in New Iberia, Louisiana, is a nonprofit organization committed to bolstering the well-being of rural communities. With a particular focus on empowering women, low-income families, and individuals of color, its mission is to foster strong, thriving, and prosperous communities. The organization's flagship project, Teche Ridge, is a $150 million development project that utilizes Traditional Neighborhood Design principles, promoting sustainable growth and preserving agricultural lands. This not-for-profit TND offers a wide range of facilities, from residential homes and commercial properties to civic spaces and senior living facilities, expected to generate a substantial economic impact in the region. Teche Ridge Development also provides a safe haven from floods, being situated on a higher ground. With a team of 7 dedicated employees, Southern Mutual Help Association, Inc. continues to make significant strides in uplifting its community.
Official website here: www.southernmutualhelp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84%, Three-Star out of Four Star rating.
Southern Mutual Help Association Inc has received an 84% rating, which is indicative of a solid performance in accountability and finance. The organization excels particularly well in governance, with 77% of its board members being independent, contributing to its full score in this area. Furthermore, it has demonstrated strong compliance with transparency regulations, having policies in place for conflicts of interest and whistleblower protections.
The charity also showcases a commendable program expense ratio of 90.96%, which suggests that a significant portion of its funding is directed towards its programs rather than administrative costs. However, the organization has room for improvement in its liabilities to assets ratio, scoring only 2 out of 15 points, indicating that it may be carrying a higher level of liabilities relative to its assets. This could be an area of concern for potential donors assessing financial sustainability.
Overall, while Southern Mutual Help Association Inc maintains a strong score in many critical areas, it should address its financial liabilities to enhance its overall financial health and donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Southern Mutual Help Association Inc legitimate?
Southern Mutual Help Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southern Mutual Help Association Inc 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: $92,123
Professional Fundraising Fees: $0
Other Salaries and Wages: $129,215
For more financial information, click here
Official website here: www.southernmutualhelp.org
What is the mission statement of Southern Mutual Help Association Inc?
The Southern Mutual Help Association Inc's mission is centered around strengthening and improving rural communities, with a particular focus on empowering women, low-income families, and individuals from underrepresented racial backgrounds. Through their activities, they aim to establish thriving, healthy, and prosperous communities. This organization's mission is distinct in its intention to contribute positively to the economic growth of these communities while ensuring that the benefits are shared among the common people. The not-for-profit Teche Ridge development, one of their initiatives, is a high-density, walkable community that offers refuge from floods and serves as a model for smart growth, attracting various types of property and investments to the area.
Official website here: www.southernmutualhelp.org
Who is the CEO of Southern Mutual Help Association Inc?
Lorna Bourg is the President of Southern Mutual Help Association Inc.
Official website here: www.southernmutualhelp.org
What is the revenue of Southern Mutual Help Association Inc?
Southern Mutual Help Association Inc's revenue in 2022 was $814,351.
Official website here: www.southernmutualhelp.org
Who are the executives of Southern Mutual Help Association Inc and what are their salaries?
The average compensation at Southern Mutual Help Association Inc during 2022 was $31,620. There are 7 employees and 5 volunteers at Southern Mutual Help Association Inc.
Here are 10 key members and their salaries:
- Compensation: $103,086
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- Other: $19,101
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- Other: $4,430
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Official website here: www.southernmutualhelp.org
Where can I find the form 990 for Southern Mutual Help Association Inc?
Southern Mutual Help Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.southernmutualhelp.org
Learn more at the official website: www.southernmutualhelp.org
Mission Statement of Southern Mutual Help Association Inc
Southern Mutual Help Association, Inc. is committed to fostering robust, healthy, and prosperous rural communities, with a particular focus on empowering women, low-income families, and individuals of color. Their mission is to contribute positively to these communities, ensuring they thrive and grow in a sustainable manner. The organization's efforts are specifically geared towards promoting equality and opportunity, ensuring that these vulnerable groups have a fair chance at success.
To achieve this mission, Southern Mutual Help Association, Inc. has embarked on various initiatives. One such initiative is the development of Teche Ridge, a master-planned Traditional Neighborhood Design (TND)/Smart Growth project. This project, valued at $150 million, is designed to boost the economy of the surrounding area, attracting homes, commercial properties, retail outlets, civic spaces, and senior living facilities. When fully developed, Teche Ridge is estimated to have a conservatively projected economic impact of nearly three-quarters of a billion dollars.
The unique aspect of Teche Ridge is that it is a not-for-profit owned TND that benefits the community as a whole. It is a high-density, walkable neighborhood that conserves agricultural land from urban sprawl, making it an environmentally desirable place to live. Moreover, unlike other similar developments along the coast, Teche Ridge is designed to be affordable, ensuring that it remains accessible to a wide range of families. The development also provides refuge from floods, being situated on a "ridge" and not within the flood zone.
In conclusion, Southern Mutual Help Association, Inc.'s mission is to uplift rural communities, with a focus on supporting disadvantaged groups. They strive to create sustainable, prosperous communities through initiatives like Teche Ridge, which not only boosts the local economy but also provides affordable housing and environmental benefits.
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Impact
July, 2024
Southern Mutual Help Association Inc's impact can be seen through its Teche Ridge development project in New Iberia, Louisiana. This $150 million master-planned Traditional Neighborhood Design (TND)/Smart Growth development is not only strengthening the economy of Iberia Parish but also attracting homes, commercial properties, civic spaces, and senior living options to the community. With an estimated economic impact of nearly three-quarters of a billion dollars, Teche Ridge is making a significant contribution to the local economy.
Furthermore, Teche Ridge is designed as a high-density, walkable community that helps save agricultural land from sprawl and provides refuge from floods by being situated on higher ground. Additionally, it is notable that Teche Ridge is the first not-for-profit owned TND in the area, ensuring that the benefits of this development are returned to the community.
Through this project and its overall mission, the Southern Mutual Help Association Inc is actively working to build strong, healthy, and prosperous rural communities, with a specific emphasis on supporting women, low-income families, and people of color. The organization's efforts towards community improvement are clearly exemplified through initiatives like Teche Ridge, which have a lasting and positive impact on the area.
This information is meant to be a general summary of Southern Mutual Help Association Inc. 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: $394
- Program Service Revenue: $313,014
- Gross Receipts: $814,351
Assets and Liabilities:
- Total Assets: $7,009,410
- Total Liabilities: $4,390,753
- Net Assets: $2,618,657
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSTRUCTION REVENUE
Revenue
$307,400
MISC
Revenue
$5,614
Organization Details
Founding Year
1969
Phone
(337) 367-3277Principal Officer
Lorna Bourg
Main Address
3602 OLD JEANERETTE ROAD, NEW IBERIA, LA, 70563
Website
www.southernmutualhelp.orgNTEE Category
Code: S320 - Community improvement
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