Mississippi Arts And Entertainment Center
- Assets
- $11.4m
- Revenue
- $3.1m
- Investments
- $3.2m
- Employees
- 50
- Location
- Meridian, MS
- Founding
- 09/2003
- Data as of
- 06/2023
- EIN
- 35-2193471
Organization Overview
Mississippi Arts And Entertainment Center is located in Meridian, MS. The organization was established in 2003. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2024, Mississippi Arts And Entertainment Center employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Arts And Entertainment Center 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 06/2023, Mississippi Arts And Entertainment Center generated $3.1m 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 (27.9%) each year. All expenses for the organization totaled $4.7m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE MISSISSIPPI ARTS AND ENTERTAINMENT.
Describe the Organization's Program Activity:
TO PROMOTE THE MISSISSIPPI ARTS AND ENTERTAINMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duffee Williams Director | Trustee | 10 | $0 |
Tommy Dulaney Director | Trustee | 10 | $0 |
Alan Lamar Director | Trustee | 10 | $0 |
Joe Norwood Director | Trustee | 10 | $0 |
Eddie Kelly Director | Trustee | 10 | $0 |
Billy Estes Director | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $309,289 |
| All other contributions, gifts, grants, and similar amounts not included above | $178,370 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $487,659 |
| Total Program Service Revenue | $2,591,390 |
| Investment income | $32,623 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,111,672 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,216,844 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,001 |
| Payroll taxes | $94,136 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $160 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $587 |
| Advertising and promotion | $280,102 |
| Office expenses | $11,476 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,658 |
| Travel | $16,508 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,706 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,855,054 |
| Insurance | $201,165 |
| All other expenses | $443,368 |
| Total functional expenses | $4,693,335 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,953,579 |
| Pledges and grants receivable | $1,311,203 |
| Accounts receivable, net | $170,099 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $46,815 |
| Prepaid expenses and deferred charges | $210,563 |
| Net Land, buildings, and equipment | $4,474,455 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,193,261 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,359,975 |
| Accounts payable and accrued expenses | $202,082 |
| Grants payable | $0 |
| Deferred revenue | $85,660 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $287,742 |
| Net assets without donor restrictions | $11,036,963 |
| Net assets with donor restrictions | $35,270 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,359,975 |