2024-05-16T07:40:24-07:00 2023-12-31 208209116 Saunders & Associates PLLC 630 East 17th Street Ada OK 74820 990 2023-01-01 202554357 Southeast Oklahoma Community Development Corporation SOUT 5803263351 209 N 4th Hugo OK 74743 Rebecca Reynolds Executive Director 2024-05-16 true Rebecca Reynolds 999009999 true Deborah Bonner CPA P01385237 5803328548 2 AAL1 IAL1 FAL1 2023 2023-04-26 12:10:37Z 209 N 4th Hugo OK 74743 93971 false X N/A X 2004 OK To improve economic and financial stability through financing and development assistance for low-income individuals and families. 7 7 0 0 38205 48147 2975 5707 34807 40117 0 75987 93971 0 0 30678 42924 0 0 26702 40444 57380 83368 18607 10603 709888 721336 714396 715241 -4508 6095 To improve economic and financial stability through financing and development assistance for low-income individuals and families. false false 60227 5707 In 2023 SOCDC successfully closed 7 small business loans. On going follow up loan and education services were provided to 16 clients. Financial literacy services were provided to 10 clients. At the end of 2023 SOCDC had a loan portifolio of 17 active loans. 60227 true true false false false false false false true false false false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true 2 0 true 0 false false false false false false false 0 false false false false false false false X 7 7 false true false false false false false true true false false true false false false false false false OK X X X Organization 5803263351 209 N 4th Hugo OK 74743 X Sandy Meeks Board Member 0.50 0.00 X 0 0 0 David Smith Board Member 0.50 0.00 X 0 0 0 Leah Thomas Board Member 0.50 0.00 X 0 0 0 Wade Scott Chairman 0.50 0.00 X 0 0 0 Brent Franks Vice Chairman 0.50 0.00 X 0 0 0 Will Smith Sec/Treas 0.50 0.00 X 0 0 0 0 false false false 0 48147 48147 Program Income 522291 5707 5707 5707 40117 40117 0 0 0 0 0 0 0 0 93971 5707 40117 X 0 0 0 0 0 0 33829 33829 0 9095 9095 0 0 0 0 0 0 0 11000 11000 0 4076 4055 21 0 0 0 0 0 1168 1168 12080 12080 0 0 15381 15381 Bad Debt Expense -3261 -3261 0 83368 60227 23141 0 151171 223317 0 0 1350 0 0 558717 496669 0 0 0 0 0 0 0 0 709888 721336 4244 4500 4425 8739 3725 280000 280000 422002 422002 714396 715241 X -4508 6095 -4508 6095 709888 721336 10603 X false true X true false X 29909 38205 48147 116261 0 0 29909 38205 48147 116261 0 116261 1295 12546 34807 40117 88765 0 0 205026 20490 X 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false 3725 3725 true X Payable to LIFT CAA 422002 422002 X 93971 93971 93971 83368 83368 83368 Part IV, Line 2b: Explanation of escrow account liability Represents portion of loan proceeds not yet used.The loan officer, employed by LIFT CAA, Inc. provided financial literacy and credit counseling information to the clients of SOCDC. Part X : FIN48 Footnote SOCDC qualifies as an organization exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. SOCDC is subject to a tax on income from any unrelated business. SOCDC has no unrelated business income.The accounting standards on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, SOCDC may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the organization and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities as of December 31, 2023. SOCDC files forms 990 in the U.S. federal jurisdiction and the State of Oklahoma. Federal and state income tax statutes dictate that tax returns filed in any of the previous three reporting periods remain open to examination. Currently, SOCDC has no open examinations with the Internal Revenue Service or the Oklahoma Tax Commission. Form 990, Part VI, Section A, Line 3 SOCDC does not employ any staff, all functions of the corporation are performed by LIFT CAA, Inc. Form 990, Part VI, Section B, Line 11b Each board member received an electronic copy of the Form 990 prior to filing. They submitted electronic votes via email to approve the filing of the form. Documentation is on file in the administrative office. Form 990, Part VI, Section C, Line 18 Tax returns and audits are available via agency website or by request. Other documentation is available upon request. Form 990, Part VI, Section C, Line 19 Available upon request. LIFT Community Action Agency Inc 209 N 4th Hugo OK 74743 730772321 Social Services OK 7 501c3 NA false false false false false true false false false false false false false false false true false false false false LIFT Community Action Agency Inc e 422002 Cost LIFT Community Action Agency Inc o 42924 Cost