Mississippi State Rating Bureau
- Assets
- $6.5m
- Revenue
- $3.7m
- Investments
- $3.2m
- Employees
- 0
- Location
- Flowood, MS
- Founding
- 01/1984
- Data as of
- 12/2021
- 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 12/2021, Mississippi State Rating Bureau generated $3.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $3.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 7 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
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 |
|---|---|---|---|
Rita Horlock President | OfficerTrustee | 2 | $0 |
Joe Ulmer Vice President | OfficerTrustee | 2 | $0 |
Jeffrey Carver Member | Trustee | 2 | $0 |
Cary Breedlove Member | Trustee | 2 | $0 |
Tiffany Hawkins Member | Trustee | 2 | $0 |
Coleman Cummins Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,440,706 |
| 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 | $3,440,706 |
| Total Program Service Revenue | $251,793 |
| Investment income | $12,967 |
| 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 | $3,705,466 |
| 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 | $1,469,845 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $719,377 |
| Payroll taxes | $112,935 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,401 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $789,068 |
| Advertising and promotion | $0 |
| Office expenses | $125,633 |
| Information technology | $103,122 |
| Royalties | $0 |
| Occupancy | $139,329 |
| Travel | $99,105 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,133 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,111 |
| Insurance | $58,346 |
| All other expenses | $0 |
| Total functional expenses | $3,738,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50 |
| Savings and temporary cash investments | $3,201,036 |
| 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 | $10,200 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $52,876 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,200,531 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,464,693 |
| 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 | $15,209 |
| Total liabilities | $15,209 |
| 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 | $6,449,484 |
| Total liabilities and net assets/fund balances | $6,464,693 |
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