East Mississippi Business Development Corp
- Assets
- $2.7m
- Revenue
- $997.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Meridian, MS
- Founding
- 12/1993
- Data as of
- 09/2021
- EIN
- 64-0811158
Organization Overview
East Mississippi Business Development Corp is located in Meridian, MS. The organization was established in 1993. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 09/2021, East Mississippi Business Development Corp employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Mississippi Business Development Corp 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 09/2021, East Mississippi Business Development Corp generated $997.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $822.1k during the year ending 09/2021. While expenses have increased by 0.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
TO EMPOWER A DIVERSE LEADERSHIP CULTURE TO ACHIEVE ECONOMIC WEALTH THROUGH EXCELLENCE IN EDUCATION, NEW NVESTMENT, AND THE NURTURING OF EXISTING BUSINESS AND INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF ECONOMIC DEVELOPMENT AND SERVICE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Hannah President | 40 | $246,574 | |
Archie Mcdonnell Jr Past Chair | OfficerTrustee | 4 | $0 |
Ann Alexander Director | OfficerTrustee | 4 | $0 |
Jonathan Bell Treasurer | OfficerTrustee | 4 | $0 |
Larkin Kennedy Director | Trustee | 4 | $0 |
John Anderson Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $443,208 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $536,256 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $979,464 |
| Total Program Service Revenue | $0 |
| Investment income | $5,268 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,487 |
| 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 | $997,219 |
| 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. | $329,773 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $99,700 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $72,631 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,135 |
| Office expenses | $82,501 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,219 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,398 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,499 |
| Insurance | $18,916 |
| All other expenses | $27,858 |
| Total functional expenses | $822,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $750,175 |
| Savings and temporary cash investments | $395,277 |
| Pledges and grants receivable | $443,029 |
| Accounts receivable, net | $109,320 |
| 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 | $1,466 |
| Net Land, buildings, and equipment | $640,987 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $313,235 |
| Total assets | $2,653,489 |
| Accounts payable and accrued expenses | $2,643 |
| Grants payable | $0 |
| Deferred revenue | $72,624 |
| 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 | $524,165 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $599,432 |
| Net assets without donor restrictions | $1,215,751 |
| Net assets with donor restrictions | $838,306 |
| 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 | $2,653,489 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that East Mississippi Business Development Corp has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Mississippi Power Foundation Inc Gulfport, MS PURPOSE: $1K YOUNG PROFESSIONALS OF MERIDIAN SPONSORSHIP, $500 MISSISSIPPI SCHOLAR SPONSOR | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Multi-Faith Retirement Services Live Oak Retirement Center Shreveport, LA | $13,466,156 | $10,872,483 |
Precept Ministries Of Reach Out Inc Chattanooga, TN | $10,987,140 | $15,669,576 |
Campus Outreach Serve Inc Hoover, AL | $4,070,578 | $8,268,154 |
Intend Ministries Murfreesboro, TN | $2,990,387 | $7,592,867 |
Churches Of Christ Disaster Relief Effort Inc Nashville, TN | $53,629,657 | $14,143,099 |
Choice Book Of Gulf State Inc Theodore, AL | $0 | $1,459,933 |
Arkansas Baptist Assembly Siloam Springs, AR | $8,310,305 | $3,183,707 |
Teen Challenge Of Birmingham Inc Lincoln, AL | $1,543,153 | $2,507,162 |
Arkansas Athletes Outreach Fayetteville, AR | $13,433,091 | $2,227,939 |
Avila Foundation Montgomery, AL | $1,202,553 | $2,387,690 |
Epic International Corporation Clarksville, TN | $1,299,027 | $2,214,798 |
Caleb Company Thompsons Station, TN | $2,858,422 | $1,733,761 |