Civic Intelligence

Mississippi Industrial Heritage Museum Inc

EIN 04-3725572 • 501(c)3 • Meridian, MS

Profile

The Mississippi Industrial Heritage Museum located in the historic Soule Steam Feed Works site promotes the heritage labor and innovation that influenced and shaped our country's rise as an industrial and manufacturing pioneer.

1808 4th StreetMeridian, MS 39301

www.industrialheritagemuseum.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

35th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

27th percentile

-7.5%

Higher net margin than 27% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

70th percentile

$57,400

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 44.3% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

53rd percentile

4.3%

Faster asset growth than 53% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

22nd percentile

-15%

Faster revenue growth than 22% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$994,589

Up $40,983 (+4.3%) from 2023

Liabilities

Up

$0

Up $50,000 (+100%) from 2023

Net Assets

Down

$994,589

Down $9,017 (-0.9%) from 2023

Revenue

Down

$129,478

Down $22,045 (-15%) from 2023

Expenses

Down

$139,150

Down $13,952 (-9.1%) from 2023

Net Income

Down

-$9,672

Down $8,093 (-513%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500KAssets 2011: $877,777Liabilities 2011: $0Net Assets 2011: $877,7772011Assets 2012: $939,898Liabilities 2012: $6,623Net Assets 2012: $933,2752012Assets 2013: $972,282Liabilities 2013: $0Net Assets 2013: $972,2822013Assets 2014: $953,473Liabilities 2014: $0Net Assets 2014: $953,4732014Assets 2015: $925,607Liabilities 2015: $0Net Assets 2015: $925,6072015Assets 2016: $874,902Liabilities 2016: $0Net Assets 2016: $874,9022016Assets 2017: $1,057,441Liabilities 2017: $0Net Assets 2017: $1,057,4412017Assets 2018: $967,743Liabilities 2018: $0Net Assets 2018: $967,7432018Assets 2019: $1,068,079Liabilities 2019: $50,000Net Assets 2019: $1,018,0792019Assets 2020: $1,061,159Liabilities 2020: $50,000Net Assets 2020: $1,011,1592020Assets 2021: $1,138,219Liabilities 2021: $50,000Net Assets 2021: $1,088,2192021Assets 2022: $884,439Liabilities 2022: -$50,000Net Assets 2022: $934,4392022Assets 2023: $953,606Liabilities 2023: -$50,000Net Assets 2023: $1,003,6062023Assets 2024: $994,589Liabilities 2024: $0Net Assets 2024: $994,5892024

Highlighted filing

2024

Assets$994,589
Liabilities$0
Net Assets$994,589

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100KRevenue 2011: $136,468Expenses 2011: $117,023Net Income 2011: $19,4452011Revenue 2012: $132,123Expenses 2012: $125,889Net Income 2012: $6,2342012Revenue 2013: $131,493Expenses 2013: $128,265Net Income 2013: $3,2282013Revenue 2014: $183,521Expenses 2014: $137,910Net Income 2014: $45,6112014Revenue 2015: $169,532Expenses 2015: $138,521Net Income 2015: $31,0112015Revenue 2016: $113,873Expenses 2016: $139,914Net Income 2016: -$26,0412016Revenue 2017: $164,640Expenses 2017: $161,110Net Income 2017: $3,5302017Revenue 2018: $160,238Expenses 2018: $169,920Net Income 2018: -$9,6822018Revenue 2019: $186,518Expenses 2019: $223,747Net Income 2019: -$37,2292019Revenue 2020: $170,277Expenses 2020: $153,954Net Income 2020: $16,3232020Revenue 2021: $137,222Expenses 2021: $147,085Net Income 2021: -$9,8632021Revenue 2022: $164,693Expenses 2022: $159,520Net Income 2022: $5,1732022Revenue 2023: $151,523Expenses 2023: $153,102Net Income 2023: -$1,5792023Revenue 2024: $129,478Expenses 2024: $139,150Net Income 2024: -$9,6722024

Highlighted filing

2024

Revenue$129,478
Expenses$139,150
Net Income-$9,672

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$0.00$0.99$0.13$0.14$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.95$0.05$1.00$0.15$0.15$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$0.05$0.93$0.16$0.16$0.01
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.05$1.09$0.14$0.15$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.05$1.01$0.17$0.15$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.07$0.05$1.02$0.19$0.22$0.04
2018Summary only. Only limited summary data is available for this year.$0.97$0.00$0.97$0.16$0.17$0.01
2017Summary only. Only limited summary data is available for this year.$1.06$0.00$1.06$0.16$0.16$0.00
2016Summary only. Only limited summary data is available for this year.$0.87$0.00$0.87$0.11$0.14$0.03
2015Summary only. Only limited summary data is available for this year.$0.93$0.00$0.93$0.17$0.14$0.03
2014Summary only. Only limited summary data is available for this year.$0.95$0.00$0.95$0.18$0.14$0.05
2013Summary only. Only limited summary data is available for this year.$0.97$0.00$0.97$0.13$0.13$0.00
2012Summary only. Only limited summary data is available for this year.$0.94$0.01$0.93$0.13$0.13$0.01
2011Summary only. Only limited summary data is available for this year.$0.88$0.00$0.88$0.14$0.12$0.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 10, 2025
Return Version
2024v5.1
Gross Receipts
$134,018
Mission and Program Overview

Mission

The Mississippi Industrial Heritage Museum located in the historic Soulé Steam Feed Works site promotes the heritage labor and innovation that influenced and shaped our country's rise as an industrial and manufacturing pioneer.

The Mississippi Industrial Heritage Museum located in the historic Soule Steam Feed Works site promotes the heritage labor and innovation that influenced and shaped our countrys rise as an industrial and manufacturing pioneer.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$538,625$588,030▲ $49,405
Land, Buildings, and Equipment, Net$350,000$350,000→ $0
Inventories for Sale or Use$5,600$7,200▲ $1,600
Cash and Non-Interest-Bearing Accounts$8,704$5,088▼ $3,616
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Loans From Officers Directors$-50,000$0▲ $50,000
Total Assets$953,606$994,589▲ $40,983
Other Assets Total$50,677$44,271▼ $6,406
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$-50,000$0▲ $50,000
Net Assets / Fund Balance
Net Assets With Donor Restrictions$888,625$938,030▲ $49,405
Net Assets Without Donor Restrictions$114,981$56,559▼ $58,422
Total Net Assets Fund Balance$1,003,606$994,589▼ $9,017
Total Liabilities and Net Assets / Fund Balance$953,606$994,589▲ $40,983

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$350,000-$0
Equipment$0$0$0
Leasehold Improvements$0$0$0

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$538,625$0▲ $98,859$-47,500$588,030
2023$470,274$10,000▲ $94,419$-34,100$538,625
2022$607,443$0▲ $20,877$-49,000$470,274
2021$493,077$0▲ $114,336$0$607,443
2020$477,601$0▲ $55,655$-38,300$493,077
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Gregory W HatcherTreasurer and Executive DirectorFT$57,400$57,400

Board Members and Trustees

NameTitle
James L McRaePresident
Mark A ScarboroughVice President
David PriceBoard Member
Maurice HallBoard Member
Mike McKnightBoard Member
Walter B ClementBoard Member
Curt FridaySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$67,110
Program Service Revenue
$11,841
Investment Income
$47,500
Other Revenue
$3,027
All Other Contributions
$63,910
Change in Net Assets
$-9,672
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$94,612
Other Expenses$44,538
Total Fundraising Expense$2,500
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$47,000$8,200$2,000$57,200
Other Salaries and Wages$28,433$2,000$0$30,433
Other Expenses$11,095$0$0$11,095
Advertising$7,561$0$0$7,561
Occupancy$5,000$2,453$0$7,453
Payroll Taxes$0$6,979$0$6,979
Insurance$6,088$0$0$6,088
Office Expenses$1,246$2,282$500$4,028
Information Technology$2,900$1,024$0$3,924
Travel$1,933$0$0$1,933
Total Functional Expenses$113,712$22,938$2,500$139,150
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Loans from Officers, Directors, Trustees, and Key Employees$-50,000$0▲ $50,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 11A

Link to 2024 IRS 990 will be emailed to board members.

Part VI, Line 15

The executive directors salary is commensurate with the salaries of other museum directors in the region. It is based on the expertise and wide range of duties performed including site management preservation curation of artifacts fundraising hosting special events and grant writing.

Part VI, Line 19

The Museums governing documents are available for review on the Mississippi Secretary of State website by using a simple search engine. The mission statement and vision statement are published on www.soulesteammuseum.com

Filing and Contact Details

Filer

Filer Name
Mississippi Industrial Heritage Museum Inc
EIN
04-3725572
Phone
6016939905
Address
1808 4th Street, MERIDIAN, MS 39301

Signing Officer

Name
Gregory W Hatcher
Title
Executive Director
Phone
6016939905
Signed
2025-11-10

Organization Details

Principal Officer
Gregory W Hatcher
Formed
2002
Legal Domicile
Ms
Voting Board Members
8
Independent Board Members
8
Employees
3
Volunteers
50
Supplemental Narrative

Financial Statement Notes

Part III, line 1A

The Museum owns preserves and interprets an intact collection of historical artifacts related to the Soule Steam Feed Works historic site. The majority of these items were not collected for the Museum but were left onsite or housed in a warehouse when the company closed in 2002. These artifacts are closely related to the operation of this factory from 1892 to 2002 and present the story of how hard employees worked in the late 19th and early 20th centuries. The value of these artifacts would be difficult to value outside their historic value in connection with the site. It is the intention of the organization to never sell these items as it would be a great loss to historians and the general public. These items are an integral part of the historic fabric of this historic factory site.

Part III, line 4

The Museum has a large collection of artifacts that remain from the operation of Soule Steam Feed Works a Mississippi Landmark and is listed on the National Register of Historic Places. The Machine Shop has a large variety of antique belt-driven equipment including drill presses lathes metal planers milling machines jibs and cranes. Power is supplied by a 106 long belt-driven line-shaft powered by an early electric motor. It also houses a restored blacksmith shop. A 1930s company office is furnished with antique rolltop desks chairs and office equipment. A vault holds the original company records. The foundry has a 1900 Cupola Iron Furnace and rare core-making department. The Pattern Shop has all the necessary woodworking equipment needed for making wooden patterns. The Museum has a collection of more than 20 steam engines including several Soule Spee-d-twin and Rotary Engines that were manufactured in the factory. The Research Library has more than 2,000 volumes.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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