2024-03-06T18:02:01-06:00 2023-09-30 330482495 GYL LLP 4120 CONCOURS SUITE 100 ONTARIO CA 91764 990 2022-10-01 953560326 SOUTHLAND ECONOMIC DEVELOPMENT CORPORATION SOUT 7148680010 400 N TUSTIN AVE 460 SANTA ANA CA 92705 MATTHEW DAVIS PRESIDENT 7148680010 2024-03-06 1 MATTHEW DAVIS 999009999 0 JOSEPH ROMERO CPA P00441771 9099489990 X 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z X MATTHEW DAVIS 400 N TUSTIN AVE 460 SANTA ANA CA 92705 12035468 0 X WWW.SOUTHLANDEDC.COM X 1980 CA STIMULATE EMPLOYMENT, PRIVATE INVESTMENT AND EXPAND BUSINESS OPPORTUNITIES. 12 9 18 12 0 0 365000 0 2758756 3500258 80786 222169 0 0 3204542 3722427 0 0 0 0 2174887 2548907 0 0 0 1078052 724752 3252939 3273659 -48397 448768 7037423 7873542 534666 868596 6502757 7004946 TO BENEFIT THE COMMUNITIES SOUTHLAND SERVES BY STIMULATING EMPLOYMENT AND PRIVATE INVESTMENT, EXPANDING THE TAX BASE, AND INCREASING BUSINESS OPPORTUNITIES. 0 0 2346895 3481767 SOUTHLAND IS A "CERTIFIED DEVELOPMENT COMPANY AND OPERATES A U.S. SMALL BUSINESS ADMINISTRATION (SBA) LENDING PROGRAM. SOUTHLAND IS AUTHORIZED TO OFFER AND APPROVE LOANS THAT ARE FUNDED BY THE SBA'S 504 DEBENTURE LOAN PROGRAM. SOUTHLAND ACTIVELY SERVES THE SOUTHERN CALIFORNIA REGION. DURING THE YEAR ENDED SEPTEMBER 30, 2023, SOUTHLAND FUNDED 44 LOANS, AMOUNTING TO APPROXIMATELY $58,198,000. SOUTHLAND WAS SERVICING 590 LOANS WITH A TOTAL FACE VALUE OF $435,367,000 AND A TOTAL REMAINING BALANCE OF APPROXIMATELY $334,337,457 AT SEPTEMBER 30, 2023. 7525 11701 SOUTHLAND ADMINISTERS A REVOLVING LOAN FUND (RLF) THROUGH A GRANT FROM THE ECONOMIC DEVELOPMENT ADMINISTRATION OF THE U.S. DEPARTMENT OF COMMERCE. UNDER THE TERMS OF THE GRANT, THE ORGANIZATION WILL USE THE FUND PROCEEDS TO ASSIST PRIVATE, FOR-PROFIT BUSINESSES THAT ARE OTHERWISE UNABLE TO SECURE CONVENTIONAL FINANCING AND WHO WILL BE CREATING JOBS. 6790 6790 SOUTHLAND ADMINISTERS AN INTERMEDIARY RELENDING PROGRAM (IRP) FROM THE U.S. DEPARTMENT OF AGRICULTURE, WHICH PROVIDES LOW INTEREST LOANS TO QUALIFIED BUSINESSES IN RURAL COMMUNITIES TO IMPROVE ECONOMIC CONDITIONS AND TO CREATE JOBS. 2361210 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 1 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X BEATRIZ CASTANEDA 7148680010 400 N TUSTIN AVE STE 460 SANTA ANA CA 92705 SAM NANGIA CHAIRMAN 0.10 X X 100 0 0 KENNETH HERNANDEZ FIRST VICE CHAIRMAN 0.10 X X 100 0 0 MATTHEW DAVIS PRESIDENT 40.00 X X 318672 0 23695 GARY MARTINEZ SECRETARY/ TREASURER 0.10 X X 100 0 0 ROSS BOURNE DIRECTOR 0.10 X 50 0 0 JEFF BOXX DIRECTOR 0.10 X 50 0 0 MICHELLE COBERLY DIRECTOR 0.10 X 0 0 0 ROBERT GARCIA DIRECTOR 0.10 X 100 0 0 WILSON JUI DIRECTOR 0.10 X 100 0 0 TIM MILLS DIRECTOR 0.10 X 0 0 0 ANTHONY SANCHEZ DIRECTOR 0.10 X 50 0 0 MELANIE SMITH DIRECTOR 0.10 X 0 0 0 WILLIAM WANG DIRECTOR 0.10 X 0 0 0 OMAR FRANCO PAST DIRECTOR 0.10 X 0 0 0 MAYRA SOTO VICE PRESIDENT 40.00 X 220786 0 8594 JOHN WELTON VICE PRESIDENT 40.00 X 201177 0 21441 MARIA MATA VICE PRESIDENT 40.00 X 132502 0 15496 JAVIER JIMENEZ VICE PRESIDENT 40.00 X 123845 0 17943 MICHAEL NASR LOAN OFFICER 40.00 X 365620 0 6173 JAMES HOPKINS LOAN OFFICER 40.00 X 129962 0 13384 SERGIO AGUILAR LOAN OFFICER 40.00 X 115321 0 15883 1608535 0 122609 8 0 1 0 0 SBA LENDING PROGRAM 522291 3481767 3481767 RLF PROGRAM INCOME 522291 11701 11701 IRP PROGRAM INCOME 522291 6790 6790 3500258 194554 194554 8340656 8313041 27615 27615 27615 3722427 3500258 0 222169 1133573 827509 306064 1125753 811370 314383 152430 94222 58208 137151 91243 45908 114718 98963 15755 90148 90148 56977 37816 19161 49280 32707 16573 65169 44718 20451 55792 39039 16753 4133 2743 1390 2388 2388 3843 2551 1292 27418 18428 8990 LOAN PROCESSING FEES 194622 129170 65452 TELEPHONE 23689 15723 7966 LOAN SERVICING FEES 17762 11789 5973 DUES & SUBSCRIPTIONS 10554 7005 3549 8259 3678 4581 3273659 2361210 912449 0 1015727 585720 2405604 354497 146832 286055 460967 316840 12693 12499 378969 351663 8808 27306 2585665 5928047 401127 362578 7037423 7873542 97632 105187 420516 401679 16518 361730 534666 868596 X 6502757 6704129 300817 6502757 7004946 7037423 7873542 448768 53421 0 X 0 1 X 1 0 X 365000 365000 2989040 2947030 3169513 2758756 3500258 15364597 2989040 2947030 3169513 3123756 3500258 15729597 0 0 0 15729597 148741 105947 203341 80786 194554 733369 148741 105947 203341 80786 194554 733369 9407 9407 3137781 3062384 3372854 3204542 3694812 16472373 0.95490 0.95690 0.04450 0.04580 X 26441 24956 1485 352528 326707 25821 27306 OPERATING LEASE LIABILITIES 359240 BORROWER AND LENDER FEE DEPOSITS 2490 361730 X 3775848 53421 53421 3722427 0 3722427 3273659 0 3273659 0 3273659 PART X, LINE 2: GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PROVIDE ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIONS TAKEN BY AN ORGANIZATION IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY THE ORGANIZAION IN ITS FEDERAL AND STATE EXEMPT ORGANIZATION RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. THE ORGANIZATION'S RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES, GENERALLY FOR FOUR YEARS AFTER THEY ARE FILED. 0 0 0 0 0 0 0 0 0 MICHAEL NASR LOAN OFFICER 365620 0 0 0 0 0 5250 0 923 0 371793 0 0 0 MATTHEW DAVIS PRESIDENT 318672 0 0 0 0 0 16478 0 7217 0 342367 0 0 0 MAYRA SOTO VICE PRESIDENT 220786 0 0 0 0 0 7575 0 1019 0 229380 0 0 0 JOHN WELTON VICE PRESIDENT 201177 0 0 0 0 0 11548 0 9893 0 222618 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEWS THE FORM 990 AND COMMUNICATES WITH AUDITORS IN PREPARATION OF THE FINAL DRAFT. THE FINAL DRAFT IS PRESENTED TO THE BOARD OF DIRECTORS FOR APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C FOR EACH CONFLICT OF INTEREST DISCLOSED, THE BOARD OF DIRECTORS OR EXECUTIVE COMMITTEE WILL DETERMINE WHETHER THE ORGANIZATION SHOULD (A) TAKE NO ACTION, (B) INVITE DISCUSSION BY THE FULL BOARD OF WHAT ACTION TO TAKE, OR (C) REFRAIN FROM TAKING ACTION AND OTHERWISE AVOID THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S BOARD OF DIRECTORS APPROVES COMPENSATION OF OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. COPY OF FORM 990 IS AVAILABLE AT GUIDESTAR.ORG.