SOUTHLAND DEVELOPMENT AUTHORITY NFP

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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

2019

Legal Domicile

Principal Officer

BO KEMP

Phone

7087226070

Tax Period

2023-01-01 to 2023-12-31

SOUTHLAND DEVELOPMENT AUTHORITY NFP, founded in 2019, is a community nonprofit that reported $3.2M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $3.7M exceeded revenue, resulting in a 13% operating deficit.

Mission

THE SOUTHLAND DEVELOPMENT AUTHORITY (SDA) WAS LAUNCHED IN 2019 WITH A MISSION TO COLLABORATIVELY DESIGN AND SUPPORT IMPLEMENTATION OF COMPREHENSIVE, TRANSFORMATIVE, INCLUSIVE ECONOMIC GROWTH IN COOK COUNTY'S SOUTH SUBURBS. SDA SEEKS TO RE-ESTABLISH THE SOUTHLAND AS A MAJOR HUB OF ECONOMIC ACTIVITY, REVITALIZING THE AREA AS A UNIQUE SET OF COMMUNITIES THAT CELEBRATES AND ENGAGES ITS RICH HISTORY AND DIVERSITY. INCLUSIVE ECONOMIC GROWTH HAS BEEN A FOUNDING PRINCIPLE OF THE SDA, INFORMING ALL OF ITS PROGRAMS AND ACTIVITIES WITH A FOCUS ON THE FOLLOWING DIMENSIONS:1.OWNERSHIP - GROWING BUSINESS AND REAL ESTATE OWNERSHIP BY PEOPLE OF COLOR.2.EMPLOYMENT - INCREASING THE EMPLOYMENT OF WORKERS OF COLOR IN QUALITY JOBS WITH STRONG CAREER LADDER.3.LOCATION AND ACCESS - ENSURING DISADVANTAGED POPULATIONS CAN LIVE NEAR JOB CENTERS.4.PARTICIPATION - GROWING DIVERSE REPRESENTATION AT THE RELEVANT PRIVATE, PUBLIC AND CIVIC SECTOR "TABLES," WHERE GROWTH STRATEGIES ARE SHAPED AND IMPLEMENTED.

Program Service Accomplishments

Program 1

Expenses: $1,189,373

THE SDA BUSINESS GROWTH SERVICES (BGS) PROGRAM PROVIDES TARGETED, INDUSTRY-SPECIFIC, TECHNICAL AND FINANCIAL SUPPORT TO BUSINESSES THROUGH AN ENTENSIVE AND SOPHISTICATED NETWORK OF PARTNER...

THE SDA BUSINESS GROWTH SERVICES (BGS) PROGRAM PROVIDES TARGETED, INDUSTRY-SPECIFIC, TECHNICAL AND FINANCIAL SUPPORT TO BUSINESSES THROUGH AN ENTENSIVE AND SOPHISTICATED NETWORK OF PARTNER ORGANIZATIONS, EXPERT MENTORS AND SPECIALISTS. THE BGS PROGRAM HAD PROVIDED OUTREACH TO OVER 10,000 COMPANIES IN THE SOUTHLAND, AND SUPPORTED OVER 500 - WITH 125 PREPARING FOR, RECEIVING, OR HAVING RECEIVED MENTORSHIP. THE PROGRAM SEEKS TO BUILD ON THIS SUCCESS, SPECIFICALLY DEMONSTRATING A GROWTH IN BUSINESS REVENUE AND EMPLOYMENT OVER TIME FOR THE BUSINESSES THAT RECEIVE SDA MENTORSHIP SERVICES.

Program 2

Expenses: $149,090

THE CAPITAL PROGRAM INCLUDES EQUITY AND DEBT OPPORTUNITIES TO SUPPORT SOUTHLAND BUSINESSES. THE SDA LAUNCHED AN ONLINE PLATFORM TO SUPPORT LOAN FACILITATION FOR SMALL BUSINESSES AS WELL AS DEVELOPED THE DIVERSE OWNERS PROGRAM INITIATIVE TO SUPPORT ENTREPRENEURS LOOKING TO ACQUIRE A SOUTHLAND BASED BUISINESS.

Program 3

Expenses: $288,573

THE SDA METALS HUB WILL GROW REVENUE FOR METALS, MANUFACTURING AND EQUIPMENT (MM&E) FIRMS IN THE REGION COLLABORATIVELY BY CREATING AND HARNESSING THE MOST ACCESSIBLE, CAPABLE, AND COMPETITIVE METAL FABRICATION SUPPLY CHAINS IN THE U.S. TO DELIVER NEW REGIONAL REVENUE AND GROWTH. IN ADDITION, IT WILL GUIDE SOUTHLAND MM&E FIRMS TOWARDS INCREASED SPEED, QUALITY, AND RAPID CUSTOMIZATION OF ADVANCED MANUFACTURING. THE FOUNDING CORPORATE PARTNERS OF THE METAL HUB HAVE RECENTLY LAUNCHED THEIR REPORTS TO SOLICIT NEW MANUFACTURING BUSINESS TO THE SOUTHLAND AREA.

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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 $2,340,336

Program Service Revenue $906,956

Investment Income $26

Other Revenue $1,031

TOTAL REVENUE $3,248,349

Expense Breakdown

Grants Paid $0

Salaries & Benefits $694,822

Fundraising Expenses $0

Program Expenses $2,237,532

Other Expenses $2,965,593

TOTAL EXPENSES $3,660,415

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,248,349	$2,919,329	+0.1%
Expenses	$3,660,415	$1,970,983	+0.9%
Net Income	$-412,066	$948,346	-1.4%

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

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

$271,621

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID ABSHIRE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVID AGOSTO	DIRECTOR	1.00	Director	$0	$0	$0
JEFF ALLEN	DIRECTOR	1.00	Director	$0	$0	$0
VERNARD ALSBERRY JR	DIRECTOR	2.00	Director	$0	$0	$0
FRANK M CLARK	DIRECTOR	1.00	Director	$0	$0	$0
KRISTI DELAURENTIIS	DIRECTOR	4.00	Director	$0	$0	$0
DAVID DOIG	DIRECTOR	1.00	Director	$0	$0	$0
FELICIA HARDY	DIRECTOR	2.00	Director	$0	$0	$0
TIM HILL	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG HOWARD	DIRECTOR	1.00	Director	$0	$0	$0
STEVE KOCH	DIRECTOR	1.00	Director	$0	$0	$0
DR CHERYL GREEN	DIRECTOR	1.00	Director	$0	$0	$0
RICK REINBOLD	DIRECTOR	1.00	Director	$0	$0	$0
NANCY WILSON	SECRETARY	1.00	Officer Director	$0	$0	$0
LYNEIR RICHARDSON	TREASURER	3.00	Officer Director	$0	$0	$0
DIANE WILLIAMS	CHAIR	4.00	Officer Director	$0	$0	$0
NATHANIEL K SUTTON	DIRECTOR	1.00	Director	$0	$0	$0
BO KEMP	CEO	40.00	Officer	$271,621	$0	$271,621
ROBERT WEISSBOURD	DIRECTOR	4.00	Officer	$0	$0	$0
IRENE SHERR	DIRECTOR	1.00	Officer	$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
2024	No data	No data	No data	No data
2023	$3,248,349	$3,660,415	$1,100,558	$-412,066
2022	$2,417,391	$1,862,904	$1,221,365	$554,487
2022	$2,919,329	$1,970,983	$1,237,996	$948,346
2021	$1,633,064	$1,955,505	$496,367	$-322,441
2021	$1,631,177	$1,960,297	$540,277	$-329,120
2020	$1,958,226	$2,040,932	$1,017,081	$-82,706
2019	$605,000	$455,402	$437,334	$149,598