Southern Finance Association

Analysis

Southern Finance Association is a registered charity in United States, based in Jacksonville, AL. It received its IRS tax-exemption ruling in March 1981, 45 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Southern Finance Association reported income of $197k and spending of $344k, spending 175% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $184k to $197k (+6.8%), an average of +1.7% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 123% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southern Finance Association sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 54th percentile within AL. Charities of a similar size with the same main cause include Fullerton Rotary Foundation ($197k), Illinois Pirg Education Fund ($197k) and Hunting Valley Foundation ($197k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.8% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $57k (17% of expenses). At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.