Southern Mutual Help Association Inc

Analysis

Southern Mutual Help Association Inc is a registered charity in United States, based in New Iberia, LA. It received its IRS tax-exemption ruling in February 1972, 54 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Southern Mutual Help Association Inc reported income of $471k and spending of $1.1m, spending 228% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.4m to $471k (-67%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 42%. Over the whole period it spent 146% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Southern Mutual Help Association Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within LA. Charities of a similar size with the same main cause include Hempstead Hispanic Civic Association Inc ($471k), Vnsa Volunteer Nonprofit Service Assoc ($471k) and Lawrence County Economic Growth Council Inc ($471k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $10k (1.0% of expenses). Other salaries and wages came to $117k. At year end it held assets of $6.1m against liabilities of $4.1m, net assets of $2.0m. It reported 7 employees.

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.