SOUTHERN BANCORP CDC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

JOHN FRENCH

Phone

8702461080

Tax Period

2023-01-01 to 2023-12-31

SOUTHERN BANCORP CDC, founded in 1998, is a micro nonprofit that reported $1K in total revenue in fiscal year 2023. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $16K exceeded revenue, resulting in a 1338% operating deficit.

Mission

SOUTHERN BANCORP'S MISSION IS TO CREATE ECONOMIC OPPORTUNITY IN RURAL AND UNDERSERVED COMMUNITIES BY PROVIDING RESPONSIBLE AND RESPONSIVE FINANCIAL PRODUCTS AND SERVICES THAT BALANCE PROFITS WITH PURPOSE.

Program Service Accomplishments

Program 1

Expenses: $16,291

SOUTHERN BANCORP COMMUNITY DEVELOPMENT CORPORATION DEVELOPS AFFORDABLE HOUSING FOR VERY LOW, LOW, AND MODERATE INCOME FAMILIES, AS WELL AS COMMERCIAL & INDUSTRIAL REAL ESTATE FOR ECONOMIC DEVELOPMENT...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $1,133

Other Revenue $0

TOTAL REVENUE $1,133

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $16,291

Other Expenses $16,291

TOTAL EXPENSES $16,291

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,133	$446,540	-1.0%
Expenses	$16,291	$644,311	-1.0%
Net Income	$-15,158	$-197,771	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN OLAIMEY	DIRECTOR	0.00	Director	$0	$0	$0
JOHN FRENCH	PRESIDENT	40.00	Officer Director	$0	$0	$0
TANYA WRIGHT	DIRECTOR	0.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2023	$1,133	$16,291	No data	$-15,158
2022	$446,540	$644,311	$15,158	$-197,771