Mississippi Low-Income Child-Care Initiative
- Assets
- $3.8m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 9
- Location
- Biloxi, MS
- Founding
- 11/2001
- Data as of
- 12/2023
- EIN
- 64-0943404
Organization Overview
Mississippi Low-Income Child-Care Initiative is located in Biloxi, MS. The organization was established in 2001. According to its NTEE Classification (P30) the organization is classified as: Children & Youth Services, under the broad grouping of Human Services and related organizations. As of 12/2023, Mississippi Low-Income Child-Care Initiative employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Low-Income Child-Care Initiative is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Mississippi Low-Income Child-Care Initiative generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 7.2% per year over the past 9 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
FOSTER AWARENESS, TRAINING, AND UNDERSTANDING TO CHILDCARE PROVIDERS OF LOW INCOME FAMILIES. TO PROVIDE DEVELOPMENT, TRAINING, AND ENHANCMENT OF CHILDCARE CENTERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHLIGHTING INEFFECTIVE POLICIES AND INEQUALITY IN THE LOW-INCOME CHILDCARE SECTOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nsombi Lambright President | OfficerTrustee | 1 | $0 |
Tracy Devries Vice President | OfficerTrustee | 1 | $0 |
Joe Hudson Treasurer | OfficerTrustee | 1 | $0 |
Dorothy Lewis Board Member | Trustee | 1 | $0 |
Roshunda Harris-Allen Board Member | Trustee | 1 | $0 |
Paheadra B Robinson Board Member | Trustee | 1 | $0 |
Financial Statements
| 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 | $3,577,476 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,577,476 |
| Total Program Service Revenue | $0 |
| Investment income | $15,462 |
| 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 | $3,592,938 |
| 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. | $40,000 |
| Compensation of current officers, directors, key employees. | $4,015 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $382,911 |
| 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 | $160,334 |
| Advertising and promotion | $0 |
| Office expenses | $3,097 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,707 |
| Travel | $7,491 |
| 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 | $7,828 |
| Insurance | $5,928 |
| All other expenses | $23,126 |
| Total functional expenses | $1,100,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,778,251 |
| Savings and temporary cash investments | $1,007,204 |
| Pledges and grants receivable | $958,795 |
| Accounts receivable, net | $0 |
| 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 | $3,284 |
| Net Land, buildings, and equipment | $59,054 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,806,588 |
| Accounts payable and accrued expenses | $30,410 |
| Grants payable | $0 |
| Deferred revenue | $260,529 |
| 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 | $290,939 |
| Net assets without donor restrictions | $3,471,182 |
| Net assets with donor restrictions | $44,467 |
| 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 | $3,806,588 |