Mississippi Gulf Coast Billfish Classic Inc is located in Biloxi, MS. The organization was established in 1999. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Gulf Coast Billfish Classic Inc 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 09/2022, Mississippi Gulf Coast Billfish Classic Inc generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $1.8m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (2.9%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE TOURISM ON THE MISSISSIPPI GULF COAST
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION ORGANIZES, COORDINATES, AND FACILITATES A COMMUNITY EVENT IN ORDER TO SUPPORT AND PROMOTE TOURISM ON THE MISSISSIPPI GULF COAST.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Robert Carter President/treasurer | OfficerTrustee | 40 | $30,000 |
Robbie Carter Vice President/secretary | OfficerTrustee | 10 | $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 | $1,839,419 |
Investment income | $0 |
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 | $1,839,419 |
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. | $30,000 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
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 | $1,072 |
All other expenses | $0 |
Total functional expenses | $1,793,474 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $441,290 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $564 |
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 | $441,854 |
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 | $16,320 |
Retained earnings, endowment, accumulated income, or other funds | $425,534 |
Total liabilities and net assets/fund balances | $441,854 |
Organization Name | Assets | Revenue |
---|---|---|
Liberty Bowl Festival Assn Memphis, TN | $2,194,602 | $10,839,086 |
Gentilly Carnival Club Jefferson, LA | $3,366,886 | $4,740,044 |
Arkansas Livestock Show Assoc Little Rock, AR | $4,870,203 | $5,931,539 |
Friends Of The Festival Inc Chattanooga, TN | $2,789,360 | $3,355,227 |
National Peanut Festival Assn Inc Dothan, AL | $12,226,185 | $2,754,478 |
Mississippi Gulf Coast Billfish Classic Inc Biloxi, MS | $441,854 | $1,839,419 |
Neshoba County Fair Association Inc Philadelphia, MS | $894,951 | $1,686,579 |
Alabama National Fair Montgomery, AL | $1,396,624 | $1,744,335 |
Four States Fair Association Incorporated Texarkana, AR | $4,598,098 | $1,680,169 |
Appalachian Fair Association Incorporated Johnson City, TN | $1,397,358 | $1,047,623 |
Williamson County Fair Association Inc Franklin, TN | $1,512,257 | $1,256,705 |
Krewe Of Pygmalion Inc New Orleans, LA | $457,087 | $1,137,003 |