Mississippi State Rating Bureau
- Assets
- $5.9m
- Revenue
- $3.8m
- Investments
- $3.2m
- Employees
- 0
- Location
- Flowood, MS
- Founding
- 01/1984
- Data as of
- 12/2022
- EIN
- 64-0678320
Organization Overview
Mississippi State Rating Bureau is located in Flowood, MS. The organization was established in 1984. According to its NTEE Classification (Y02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi State Rating Bureau 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 12/2022, Mississippi State Rating Bureau generated $3.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $4.4m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ADMINISTER INSURANCE RATING BUREAU AS ESTABLISHED BY OPERATION OF STATE LAW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADMINISTRATION OF AN INSURANCE RATING BUREAU TO ASSIST MEMBERS IN COMPLYING WITH STATE LAWS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Ulmer President | OfficerTrustee | 2 | $0 |
Bridget Walker Vice President | OfficerTrustee | 2 | $0 |
Cary Breedlove Member | Trustee | 2 | $0 |
Jeffrey Carver Member | Trustee | 2 | $0 |
Coleman Cummins Member | Trustee | 2 | $0 |
Tiffany Hawkins Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,539,283 |
| 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 | $3,539,283 |
| Total Program Service Revenue | $224,149 |
| Investment income | $14,225 |
| 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 | $3,777,657 |
| 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 | $1,681,920 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $941,544 |
| Payroll taxes | $123,446 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,215 |
| Fees for services: Accounting | $11,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $808,795 |
| Advertising and promotion | $0 |
| Office expenses | $154,270 |
| Information technology | $100,464 |
| Royalties | $0 |
| Occupancy | $156,059 |
| Travel | $121,521 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,114 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $142,748 |
| Insurance | $57,840 |
| All other expenses | $0 |
| Total functional expenses | $4,372,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51 |
| Savings and temporary cash investments | $2,640,775 |
| 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 | $9,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $16,968 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,200,531 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,867,325 |
| 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 | $13,021 |
| Total liabilities | $13,021 |
| 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 | $5,854,304 |
| Total liabilities and net assets/fund balances | $5,867,325 |