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Through planning and collaboration with private developers, governmental entities and other stake-holders, the Far-South Community Development Corporation (Far South CDC)strives to facilitate and foster quality retail businesses that will meet the needs of the community, new industrial uses, and new rehabilitated commercial and residential real estate developments that will create jobs and improve the quality of life for all people who live and work in its service area.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$4.8M
Program Spending
72%
of total expenses go to program services
Total Contributions
$4.5M
Total Expenses
▼$3.2M
Total Assets
$9.2M
Total Liabilities
▼$5.1M
Net Assets
$4.1M
Officer Compensation
→$147.5K
Other Salaries
$1.4M
Investment Income
$0
Fundraising
▼N/A
Source: USAspending.gov
No federal awards found for this organization.
USAspending.gov tracks federal grants, cooperative agreements, and other financial assistance. Not all nonprofits receive federal funding.
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
1
Clean Audits
1
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2022 | Clean | Unmodified (Clean) | $1.4M | No | 2024-02-07 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.4M
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $4.8M | $4.5M | $3.2M | $9.2M | $4.1M |
| 2023IRS e-File | $2.7M | $2.8M | $3.2M | $5.6M | $2.6M |
| 2022 | $0 | $0 | $13.4K | $4.3M | $3.3M |
| 2021 | $2.7M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Abraham Lacy | Executive Dir. | 40 | $147.5K | $0 | $0 | $147.5K |
| Yolanda Richards-Albert | Chairman | 10 | $0 | $0 | $0 | $0 |
| Dennis O'Malley | Treasurer | 5 | $0 | $0 | $0 | $0 |
| John Chenier | Secretary | 5 | $0 | $0 | $0 | $0 |
Abraham Lacy
Executive Dir.
$147.5K
Hrs/Wk
40
Compensation
$147.5K
Related Orgs
$0
Other
$0
Yolanda Richards-Albert
Chairman
$0
Hrs/Wk
10
Compensation
$0
Related Orgs
$0
Other
$0
Dennis O'Malley
Treasurer
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
John Chenier
Secretary
$0
Hrs/Wk
5
Compensation
$0
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Chester Bell Jr | Director | 2 | $0 | $0 | $0 | $0 |
| Kareem Musawwir | Director | 2 | $0 | $0 | $0 | $0 |
| Maggie Catania | Director | 2 | $0 | $0 | $0 | $0 |
| Melvin Thompson | Director | 2 | $0 | $0 | $0 | $0 |
| Rev Leonardo Gilbert | Director | 2 | $0 | $0 | $0 | $0 |
Chester Bell Jr
Director
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Kareem Musawwir
Director
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Maggie Catania
Director
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
| $2.7M |
| $2M |
| $4.3M |
| $3.3M |
| 2020 | $0 | $0 | $6,086 | $2.5M | $0 |
| 2019 | $1.7M | $1.7M | $1.6M | $3.2M | $2.5M |
| 2018 | $1.4M | $1.4M | $1.4M | $2.8M | $2.4M |
| 2017 | $1.2M | $1.3M | $1.1M | $2.8M | $2.4M |
| 2016 | $3.4M | $3.4M | $1.3M | $2.6M | $2.3M |
| 2015 | $1.3M | $1.2M | $1.3M | $313K | $124.8K |
| 2014 | $716.3K | $703.4K | $722.9K | $144.1K | $113.1K |
| 2013 | $722.3K | $653.4K | $555.1K | $107.2K | $85.6K |
| 2012 | $549.8K | $549.8K | $557.3K | $209.1K | $3,462 |
| 2011 | $698.2K | $698.1K | $759K | $218K | -$3,697 |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data | PDF not yet published by IRS |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990-EZ | — |
| 2008 | 990-EZ | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
Melvin Thompson
Director
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Rev Leonardo Gilbert
Director
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0