Mississippi Economic Council
- Assets
- $3.9m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Jackson, MS
- Founding
- 02/1950
- Data as of
- 04/2023
- EIN
- 64-0293716
Organization Overview
Mississippi Economic Council is located in Jackson, MS. The organization was established in 1950. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 04/2023, Mississippi Economic Council employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Economic Council is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 04/2023, Mississippi Economic Council generated $2.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $2.3m during the year ending 04/2023. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD A SENSE OF STATEWIDE BUSINESS COMMUNITY. AS THE STATE CHAMBER OF COMMERCE, THE ORGANIZATION SERVES AS A MEANINGFUL VOICE ON ISSUES AND INITIATIVES FOCUSING ON THE STATE'S FUTURE IN EDUCATION, WORKFORCE, BUSINESS CLIMATE AND IMAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH-THE ORGANIZATION MAKES RECOMENDATIONS BASED ON INVESTIGATION AND POLLING IN ORDER TO REFLECT THE VIEWS OF BUSINESS LEADERS IN MISSISSIPPI.
MEETINGS- THE ORGANIZATION CONDUCTS A SERIES OF MEETINGS THROUGHOUT MISSISSIPPI TO INFORM BUSINESS LEADERS OF ISSUES OF CONCERN TO THE FUTURE OF THE STATE AND TO PROVIDE NETWORKING OPPORTUNITIES.
ADVOCACY-ORGANIZATION SEEKS TO OPERATE AS THE VOICE OF BUSINESS BEFORE THE MISSISSIPPI LEGISLATURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John S Waller Ceo/presiden | Officer | 36 | $267,556 |
Cathy Northington Chief Oper. | 20 | $91,145 | |
Vickie Powell VP Of Founda | 4 | $17,941 | |
Beth Kitchings Dir. Of Memb | 40 | $126,210 | |
Jeff Bowman 1st Vice Ch | OfficerTrustee | 2 | $0 |
David E Brevard Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,000 |
| Total Program Service Revenue | $2,598,386 |
| Investment income | $1,018 |
| 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 | $2,619,404 |
| 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. | $299,461 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $623,180 |
| Pension plan accruals and contributions | $43,711 |
| Other employee benefits | $52,346 |
| Payroll taxes | $59,080 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $485 |
| Fees for services: Accounting | $87,605 |
| Fees for services: Lobbying | $64,513 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,249 |
| Advertising and promotion | $53,030 |
| Office expenses | $123,761 |
| Information technology | $39,937 |
| Royalties | $0 |
| Occupancy | $42,312 |
| Travel | $21,696 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $591,265 |
| Interest | $15,652 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,347 |
| Insurance | $11,328 |
| All other expenses | $0 |
| Total functional expenses | $2,301,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,501 |
| Savings and temporary cash investments | $161,043 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $173,394 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $132,072 |
| Net Land, buildings, and equipment | $31,097 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,353,748 |
| Total assets | $3,947,855 |
| Accounts payable and accrued expenses | $247,945 |
| Grants payable | $0 |
| Deferred revenue | $211,571 |
| 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 | $185,000 |
| Other liabilities | $0 |
| Total liabilities | $644,516 |
| Net assets without donor restrictions | $3,303,339 |
| Net assets with donor restrictions | $0 |
| 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 | $3,947,855 |