Overview
What is Southland Economic Development Corporation?
Southland Economic Development Corporation, based in Santa Ana, California, functions as a certified development company. It operates under the U.S. Small Business Administration (SBA) lending program, offering and approving loans funded by the SBA's 504 Debenture Loan Program. Southland serves the Southern California region, and during the year ended in 2022, it funded 53 loans totaling around $56 million. As of the same date, the corporation was servicing 609 loans with a combined face value of $408 million, maintaining a total remaining balance of approximately $308 million. Southland's mission is to stimulate employment, private investment, and expand business opportunities within the communities it serves, ultimately benefiting the local economy.
Official website here: www.southlandedc.com
Is Southland Economic Development Corporation legitimate?
Southland Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southland Economic Development Corporation 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: $1,130,678
Professional Fundraising Fees: $0
Other Salaries and Wages: $801,490
For more financial information, click here
Official website here: www.southlandedc.com
What is the mission statement of Southland Economic Development Corporation?
The Southland Economic Development Corporation, often referred to as Southland, has a mission to positively impact the communities it serves. This is accomplished by stimulating employment opportunities, encouraging private investment, and expanding business prospects. By doing so, Southland aims to boost the tax base, thereby enhancing overall economic growth and development. Southland operates as a Certified Development Company and offers loans through the U.S. Small Business Administration's 504 Debenture Loan Program. During the year ending September 30, 2022, Southland approved 53 loans totaling around $56 million and managed 609 loans with a combined face value of over $408 million.
Official website here: www.southlandedc.com
Who is the CEO of Southland Economic Development Corporation?
Matthew Davis is the Loan Officer of Southland Economic Development Corporation. The CEO's salary of Southland Economic Development Corporation is $300,877 and their total compensation is $333,212.
Official website here: www.southlandedc.com
What is the revenue of Southland Economic Development Corporation?
Southland Economic Development Corporation's revenue in 2022 was $3,204,542.
Official website here: www.southlandedc.com
Who are the executives of Southland Economic Development Corporation and what are their salaries?
The average compensation at Southland Economic Development Corporation during 2022 was $96,608. There are 20 employees at Southland Economic Development Corporation.
Here are 20 key members and their salaries (Southland Economic Development Corporation's CEO's salary is $300,877 and their total compensation is $333,212):
- Compensation: $347,021
- Related: $0
- Other: $12,957
- Compensation: $300,877
- Related: $0
- Other: $32,335
- Compensation: $256,767
- Related: $0
- Other: $14,764
- Compensation: $210,360
- Related: $0
- Other: $30,023
- Compensation: $129,635
- Related: $0
- Other: $21,664
- Compensation: $110,846
- Related: $0
- Other: $22,907
- Compensation: $111,497
- Related: $0
- Other: $12,932
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $50
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.southlandedc.com
Where can I find the form 990 for Southland Economic Development Corporation?
Southland Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.southlandedc.com
Learn more at the official website: www.southlandedc.com
Mission Statement of Southland Economic Development Corporation
Southland Economic Development Corporation, abbreviated as Southland, is dedicated to positively impacting the communities it serves. Its mission is centered around stimulating employment opportunities, encouraging private investment, and expanding business prospects. By doing so, Southland aims to enhance the tax base and create more business opportunities within its operational region. As a certified development company, Southland operates under the Small Business Administration (SBA) 504 Debenture Loan Program, providing and approving loans to eligible applicants. In the fiscal year ending September 30, 2022, Southland funded 53 loans totaling approximately $56,019,000. By the same date, Southland was managing 609 loans with a combined face value of $408,949,000, with a remaining balance of approximately $308,905,679.
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Impact
October, 2024
The Southland Economic Development Corporation plays a vital role in fostering economic growth and stability in Southern California. By stimulating employment and attracting private investment, it enhances business opportunities within the region. Operating as a certified development company, Southland is authorized to provide crucial lending services through the SBA's 504 debenture loan program.
In the fiscal year ending September 30, 2022, Southland funded 53 loans totaling approximately $56 million, demonstrating its active involvement in financing and supporting local businesses. At that time, the organization was managing 609 loans with a total face value of nearly $409 million, indicating a strong commitment to sustaining economic development.
Through its efforts, Southland helps expand the tax base and creates a more conducive environment for entrepreneurship, ultimately benefiting the communities it serves. As such, the organization's activities contribute significantly to the overall economic well-being of Southern California.
This information is meant to be a general summary of Southland Economic Development Corporation. 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: $80,786
- Program Service Revenue: $2,758,756
- Gross Receipts: $10,636,806
Assets and Liabilities:
- Total Assets: $7,037,423
- Total Liabilities: $534,666
- Net Assets: $6,502,757
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
IRP program
Revenue
$8,706
RLF program
Revenue
$7,767
SBA loan escrow
Revenue
$185,986
SBA loan processing fee
Revenue
$828,883
SBA loan servicing fee
Revenue
$1,724,751
Organization Details
Founding Year
1980
Phone
(714) 868-0010Principal Officer
Matthew Davis
Main Address
400 N Tustin Ave 125, Santa Ana, CA, 92705
Website
www.southlandedc.comNTEE Category
Code: S43 - Community improvement
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