2025-05-15T08:21:22-07:00 2024-12-31 721369868 Kolder Slaven & Company LLC 450 East Main New Iberia LA 70560 990EZ 2024-01-01 721462016 SOUTHERN MUTUAL FINANCIAL SERVICES INC SOUT 3373673277 3602 OLD JEANERETTE ROAD NEW IBERIA LA 70563 LORNA BOURG Treasurer 2025-05-15 true true Arthur R Mixon CPA P01313678 3373679204 2024 2025-03-06 01:10:19Z X www.southernmutualhelp.org X X 26356 X 14395 11933 28 0 0 0 0 26356 31703 20466 3678 76 52386 108309 -81953 358703 276750 X 67351 76537 344099 245521 411450 322058 52747 45308 358703 276750 THE ORGANIZATION IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CONCERNED WITH QUALITY OF LIFE OF VERY LOW,LOW & MODERATE INCOME PERSONS ESPECIALLY PERTAINING TO AFFORDABLE HOUSING,HOME OWNERSHIP TRAINING ED. & FINANCIAL BUDGETING ESPECIALLY IN NINE RURAL PARISHES. (A) LENDING PROGRAMSMFS IS COMMITTED TO PROVIDING ACCESSIBLE CAPITAL THROUGH FINANCIAL PRODUCTS AND ARMS-LENGTH TRANSACTIONS TO VERY LOW, LOW AND MODERATE INCOME PERSONS. 47538 (B) FAMILY AND COMMUNITY DEVELOPMENT PROGRAMSMFS IS COMMITTED TO CREATING HEALTHY COMMUNITIES BY PROVIDING EDUCATION AND TRAINING TO HELP FAMILIES BUILD AND MAINTAIN THEIR ASSETS AND BUILD THEIR WEALTH.THE FAMILY AND COMMUNITY DEVELOPMENT PROGRAM INCLUDES:(1) HOMEOWNERSHIP COUNSELING - GIVES POTENTIAL HOMEOWNERS HANDS-ON EXPERIENCE IN PURCHASING OR CONSTRUCTING A HOME, HOW MORTGAGE LENDING WORKS, BUDGETING, AND WHAT HOMEOWNERSHIP COULD MEAN IN THEIR LIVES.(2) FINANCIAL BUDGETING - PROVIDES TRAINING AND TECHNICAL ASSISTANCE TO VERY LOW, LOW AND MODERATE INCOME FAMILIES IN PREPARATION AND MAINTENANCE OF A FINANCIAL BUDGET.(3) SKILL TRANSFER TRAINING - PROMOTES SELF-SUFFICIENCY BY TEACHING PEOPLE HOW THEY CAN SAVE MONEY BY DOING THEIR OWN HOME REPAIRS AND MAINTENANCE AND KEEP THE VALUE IN THEIR HOMES. 43250 90788 MARTHA MOORE MEMBER 1.00 0 DR KATHERINE C DREXTER MEMBER 1.00 0 DEEDY JOHNSON-REID Secretary 1.00 0 LORNA BOURG Treasurer 6.00 0 DR PHEBE HAYES President 2.00 0 false false false false false false false 0 0 0 false 0 0 false ARTHUR MIXON CPA 450 EAST MAIN STREET NEW IBERIA LA 70560 3373679204 false false false false false false false false false false false NONE NONE true X 69709 16793 16069 22755 14395 139721 0 0 69709 16793 16069 22755 14395 139721 0 139721 1653 450 80 47 28 2258 0 0 141979 0.98410 0.96730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Other Expenses.1002 Office Expenses $2712 Other Expenses.1005 Travel $30 Other Expenses.1008 Interest $800 Other Expenses.1012 Insurance $4845 Other Expenses.1 DEBT FOREGIVENESS $19965 Other Expenses.2 LABOR $14395 Other Expenses.3 COMPUTER TRAINING AND SERVICE $3920 Other Expenses.4 PROVISION FOR LOAN LOSS $3433 Other Expenses.5 RECORDATION AND MISC FEES $1921 Other Expenses.6 MEMBERSHIPS $250 Other Expenses.7 EDUCATION $115 Other Assets.1005 Accounts Receivable - Beginning $322390 Accounts Receivable - Ending $224024 Other Assets.1 ACCRUED INTEREST RECEIVABLE - Beginning $1709 ACCRUED INTEREST RECEIVABLE - Ending $1497 Other Assets.2 DUE FROM RELATED PARTY - Beginning $20000 DUE FROM RELATED PARTY - Ending $20000 Total Liabilities.1001 Accounts Payable and Accrued Expenses - Beginning $1081 Accounts Payable and Accrued Expenses - Ending $0 Total Liabilities.1005 Escrow Account Liability - Beginning $11666 Escrow Account Liability - Ending $5308 Total Liabilities.1007 Secured Mortgages and Notes Payable - Beginning $40000 Secured Mortgages and Notes Payable - Ending $40000