East Mississippi Business Development Corp
- Assets
- $2.4m
- Revenue
- $894.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Meridian, MS
- Founding
- 12/1993
- Data as of
- 09/2023
- 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 09/2023, East Mississippi Business Development Corp employed 7 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 09/2023, East Mississippi Business Development Corp generated $894.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $1.1m during the year ending 09/2023. While expenses have increased by 4.2% per year over the past 8 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
2023
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 |
|---|---|---|---|
Ann Alexander Director | OfficerTrustee | 4 | $0 |
Jonathan Bell Treasurer | OfficerTrustee | 4 | $0 |
Cole Cardwell Director | Trustee | 4 | $0 |
Larkin Kennedy Director | Trustee | 4 | $0 |
Richmond Alexander Director | Trustee | 4 | $0 |
Archie Mcdonnell Jr Past Chair | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $346,047 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $125,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $450,788 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $921,835 |
| Total Program Service Revenue | $0 |
| Investment income | $6,751 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$34,104 |
| 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 | $894,482 |
| 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. | $246,528 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $211,253 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $68,079 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $48,922 |
| Office expenses | $142,514 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,240 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,095 |
| Interest | $24,102 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,097 |
| Insurance | $21,359 |
| All other expenses | $19,942 |
| Total functional expenses | $1,104,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $365,928 |
| Savings and temporary cash investments | $920,473 |
| Pledges and grants receivable | $42,833 |
| Accounts receivable, net | $104,987 |
| 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 | $2,189 |
| Net Land, buildings, and equipment | $652,440 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $313,235 |
| Total assets | $2,402,085 |
| Accounts payable and accrued expenses | $332 |
| Grants payable | $0 |
| Deferred revenue | $76,932 |
| 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 | $517,399 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $594,663 |
| Net assets without donor restrictions | $844,116 |
| Net assets with donor restrictions | $963,306 |
| 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 | $2,402,085 |