Tupelo Service Finance Inc is located in Tupelo, MS. The organization was established in 1977. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tupelo Service Finance Inc 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 09/2021, Tupelo Service Finance Inc generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (15.5%) each year. All expenses for the organization totaled $1.3m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (7.4%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TUPELO SERVICE FINANCE, INC. PROVIDES A FINANCE AND COLLECTION SERVICE TO NON-PROFIT OR CHARITABLE INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATIENT ACCOUNT COLLECTION
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Michael S Spees President & CEO | Officer | 0 | $0 |
Sharon Nobles Treasurer & CFO | Officer | 0 | $0 |
Bruce Toppin Secretary | Officer | 0 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
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 | $0 |
Total Program Service Revenue | $1,135,495 |
Investment income | $92 |
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 | $1,135,587 |
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 | $11,600 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $2,593 |
Payroll taxes | $887 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $875 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $12,217 |
Advertising and promotion | $0 |
Office expenses | $4,927 |
Information technology | $1,207 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $1,260,338 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $0 |
Accounts payable and accrued expenses | $0 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $0 |
Net assets without donor restrictions | $0 |
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 | $0 |
Organization Name | Assets | Revenue |
---|---|---|
Mississippi Higher Education Assistance Corporation Jackson, MS | $167,450,530 | $7,686,362 |
Tupelo Service Finance Inc Tupelo, MS | $0 | $1,135,587 |
Greater Kingsport Alliance For Development Inc Kingsport, TN | $2,425,970 | $1,438,393 |
Student Loan Guarantee Foundation Of Arkansas North Little Rock, AR | $5,532,296 | $1,265 |
Tennessee Medical Education Fund Inc Nashville, TN | $3,892,726 | $343,365 |
Alabama Multifamily Loan Consortium Montgomery, AL | $54,767,808 | $316,680 |
Lucy S Elliott Loan Fund Pine Bluff, AR | $3,241,492 | $148,532 |
Mississippi Bankruptcy Conference Inc Ridgeland, MS | $104,047 | $0 |
Louisiana Finance Corporation For Handicapped Citizens Haughton, LA | $348,535 | $145,465 |
Turnaround Community Lending Rutledge, TN | $126,245 | $0 |
Ark La Tex Investment & Development Corporation Bossier City, LA | $4,194,236 | $38,731 |