East Mississippi Business Development Foundation
- Assets
- $142.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Meridian, MS
- Founding
- 12/2003
- Data as of
- 09/2022
- EIN
- 20-0178999
Organization Overview
East Mississippi Business Development Foundation is located in Meridian, MS. The organization was established in 2003. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Mississippi Business Development Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, East Mississippi Business Development Foundation generated $88.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $94.4k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PROMOTION OF REDEVELOPMENT AND NEW DEVELOPMENT OF THE DOWNTOWN OF THE CITY OF MERIDIAN AND RURAL AREAS OF LAUDERDALE COUNTY AND COMBAT THE OVERALL COMMUNITY DETERIORATION OF THESE AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Wile Vice-Chairman | 2 | $0 | |
Katie Coleman Director | 2 | $0 | |
Nancy Davis Director | 2 | $0 | |
Brad Huff Chairman | 2 | $0 | |
Brandye Latimer Director | 2 | $0 | |
Soraya Welden Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,344 |
| Total Program Service Revenue | $33,241 |
| Membership dues | $0 |
| Investment income | $503 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $7,907 |
| Total Revenue | $87,995 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $5,054 |
| Occupancy, rent, utilities, and maintenance | $1,200 |
| Printing, publications, postage, and shipping | $187 |
| Other expenses | $87,982 |
| Total expenses | $94,423 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $108,891 |
| Other assets | $0 |
| Total assets | $142,160 |
| Total liabilities | $13,207 |
| Net assets or fund balances | $128,953 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that East Mississippi Business Development Foundation has recieved totaling $45,000.
| Awarding Organization | Amount |
|---|---|
Phil Hardin Foundation Meridian, MS PURPOSE: MS SCHOLARS AND TECH MASTER; LEADER IN ME | $45,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Coordinating & Development Corp Louisiana Inc Bossier City, LA | $518,798 | $4,124,909 |
Western Arkansas Planning And Fort Smith, AR | $1,883,659 | $2,141,077 |
Little Rock Workforce Development Board Little Rock, AR | $359,522 | $1,935,959 |
Southern Mutual Help Association Inc New Iberia, LA | $8,015,178 | $898,903 |
Forge Financing Ozark Rural Growth And Economy Huntsville, AR | $10,015,357 | $2,246,755 |
Southeast Alabama Self Help Assn Inc Tuskegee Institute, AL | $3,590,818 | $690,904 |
Cahaba River Society Inc Birmingham, AL | $824,117 | $539,754 |
Mississippi Hills Heritage Area Alliance Inc University, MS | $57,717 | $481,249 |
Upper Cumberland Entrepreneurial Foundation Cookeville, TN | $445,074 | $494,857 |
Northeast Louisiana Economic Alliance Winnsboro, LA | $115,822 | $607,118 |
Northeast Educational Development Foundation Oak Grove, LA | $1,263,611 | $259,597 |
Dixie Business Development Center Inc Denham Springs, LA | $975,910 | $191,484 |