Civic Intelligence

Mississippi Economic Council

EIN 64-0293716 • 501(c)6 • Jackson, MS

View Organization Page

Profile

To build a sense of statewide business community. As the state chamber of commerce, the organization serves as a meaningful voice on issues and initiatives focusing on the state's future in education, workforce, business climate and image.

P O Box 23276Jackson, MS 39225-3276

www.msmec.com

Siviq Scores

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

Liabilities / Assets

54th percentile

0.17x

Higher debt load relative to assets than 54% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

67th percentile

0.30x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2025

Net Margin

50th percentile

4.4%

Higher net margin than 50% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

91st percentile

$340,276

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 13.6% of source-year revenue.

501(c)6 • $1M-$5M nonprofits • Source year 2025

Asset Growth

28th percentile

-1.9%

Faster asset growth than 28% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

17th percentile

-7.7%

Faster revenue growth than 17% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets54th percentile

Assets

Down

$4,340,835

Down $83,430 (-1.9%) from 2024

Liabilities

Down

$755,912

Down $193,016 (-20%) from 2024

Net Assets

Up

$3,584,923

Up $109,586 (+3.2%) from 2024

Operations
Liabilities / Revenue67th percentileNet Margin50th percentile

Revenue

Down

$2,497,733

Down $209,110 (-7.7%) from 2024

Expenses

Down

$2,388,147

Down $146,698 (-5.8%) from 2024

Net Income

Down

$109,586

Down $62,412 (-36%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth28th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $1,122,939Liabilities 2011: $174,383Net Assets 2011: $948,5562011Assets 2012: $1,064,845Liabilities 2012: $101,157Net Assets 2012: $963,6882012Assets 2013: $1,188,912Liabilities 2013: $152,679Net Assets 2013: $1,036,2332013Assets 2014: $2,811,339Liabilities 2014: $343,424Net Assets 2014: $2,467,9152014Assets 2015: $3,139,356Liabilities 2015: $519,357Net Assets 2015: $2,619,9992015Assets 2016: $2,958,427Liabilities 2016: $676,062Net Assets 2016: $2,282,3652016Assets 2017: $2,727,200Liabilities 2017: $624,083Net Assets 2017: $2,103,1172017Assets 2018: $2,310,142Liabilities 2018: $350,530Net Assets 2018: $1,959,6122018Assets 2019: $2,420,570Liabilities 2019: $370,758Net Assets 2019: $2,049,8122019Assets 2020: $2,543,860Liabilities 2020: $299,265Net Assets 2020: $2,244,5952020Assets 2021: $3,183,804Liabilities 2021: $716,115Net Assets 2021: $2,467,6892021Assets 2022: $3,436,515Liabilities 2022: $450,622Net Assets 2022: $2,985,8932022Assets 2023: $3,947,855Liabilities 2023: $644,516Net Assets 2023: $3,303,3392023Assets 2024: $4,424,265Liabilities 2024: $948,928Net Assets 2024: $3,475,3372024Assets 2025: $4,340,835Liabilities 2025: $755,912Net Assets 2025: $3,584,9232025

Highlighted filing

2025

Assets$4,340,835
Liabilities$755,912
Net Assets$3,584,923
Open 2025 Filing

Operations Trend

Revenue Growth17th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $2,042,6542011Expenses 2012: $2,344,4012012Revenue 2013: $2,315,999Expenses 2013: $2,243,454Net Income 2013: $72,5452013Revenue 2014: $4,408,229Expenses 2014: $2,976,547Net Income 2014: $1,431,6822014Revenue 2015: $2,636,631Expenses 2015: $2,484,547Net Income 2015: $152,0842015Revenue 2016: $2,630,845Expenses 2016: $2,968,479Net Income 2016: -$337,6342016Revenue 2017: $2,782,556Expenses 2017: $2,961,804Net Income 2017: -$179,2482017Revenue 2018: $2,581,446Expenses 2018: $2,724,951Net Income 2018: -$143,5052018Revenue 2019: $2,697,288Expenses 2019: $2,560,311Net Income 2019: $136,9772019Revenue 2020: $2,355,973Expenses 2020: $2,161,190Net Income 2020: $194,7832020Revenue 2021: $2,036,325Expenses 2021: $1,707,177Net Income 2021: $329,1482021Revenue 2022: $2,971,489Expenses 2022: $2,454,647Net Income 2022: $516,8422022Revenue 2023: $2,619,404Expenses 2023: $2,301,958Net Income 2023: $317,4462023Revenue 2024: $2,706,843Expenses 2024: $2,534,845Net Income 2024: $171,9982024Revenue 2025: $2,497,733Expenses 2025: $2,388,147Net Income 2025: $109,5862025

Highlighted filing

2025

Revenue$2,497,733
Expenses$2,388,147
Net Income$109,586
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,340,835
Liabilities
$755,912
Net assets
$3,584,923
Revenue
$2,497,733
Expenses
$2,388,147
Net income
$109,586
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.34$0.76$3.58$2.50$2.39$0.11
2024Detailed filing. Detailed filing data is available for this year.$4.42$0.95$3.48$2.71$2.53$0.17
2023Detailed filing. Detailed filing data is available for this year.$3.95$0.64$3.30$2.62$2.30$0.32
2022Detailed filing. Detailed filing data is available for this year.$3.44$0.45$2.99$2.97$2.45$0.52
2021Detailed filing. Detailed filing data is available for this year.$3.18$0.72$2.47$2.04$1.71$0.33
2020Detailed filing. Detailed filing data is available for this year.$2.54$0.30$2.24$2.36$2.16$0.19
2019Detailed filing. Detailed filing data is available for this year.$2.42$0.37$2.05$2.70$2.56$0.14
2018Detailed filing. Detailed filing data is available for this year.$2.31$0.35$1.96$2.58$2.72$0.14
2017Detailed filing. Detailed filing data is available for this year.$2.73$0.62$2.10$2.78$2.96$0.18
2016Detailed filing. Detailed filing data is available for this year.$2.96$0.68$2.28$2.63$2.97$0.34
2015Detailed filing. Detailed filing data is available for this year.$3.14$0.52$2.62$2.64$2.48$0.15
2014Detailed filing. Detailed filing data is available for this year.$2.81$0.34$2.47$4.41$2.98$1.43
2013Summary only. Only limited summary data is available for this year.$1.19$0.15$1.04$2.32$2.24$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.10$0.96$2.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.12$0.17$0.95$2.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
May 1, 2024 to Apr 30, 2025
Signed
Mar 10, 2026
Return Version
2024v5.0
Gross Receipts
$2,497,733
Mission and Program Overview

Mission

To build a sense of statewide business community. As the state chamber of commerce, the organization serves as a meaningful voice on issues and initiatives focusing on the state's future in education, workforce, business climate and image.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$219,089$253,988▲ $34,899
Prepaid Expenses and Deferred Charges$121,644$102,543▼ $19,101
Cash and Non-Interest-Bearing Accounts$78,540$90,000▲ $11,460
Land, Buildings, and Equipment, Net$66,541$45,166▼ $21,375
Savings and Temporary Cash Investments$284,329$19,437▼ $264,892
Total Assets$4,424,265$4,340,835▼ $83,430
Other Assets Total$3,654,122$3,829,701▲ $175,579
Liabilities
Unsecured Notes Loans Payable$452,460$410,021▼ $42,439
Accounts Payable and Accrued Expenses$218,996$174,536▼ $44,460
Deferred Revenue$215,895$134,472▼ $81,423
Other Liabilities$61,577$36,883▼ $24,694
Total Liabilities$948,928$755,912▼ $193,016
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,288,087$3,497,160▲ $209,073
Net Assets With Donor Restrictions$187,250$87,763▼ $99,487
Total Net Assets Fund Balance$3,475,337$3,584,923▲ $109,586
Total Liabilities and Net Assets / Fund Balance$4,424,265$4,340,835▼ $83,430

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$45,166$285,358$330,524
Other Assets Org$1,682,713--
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John S WallerCEO/presidenFT$278,604$61,672$340,276
John S WallerCEO/president-$278,604$30,716$309,320
Vickie PowellVP of Founda-$19,933$201,899$221,832
Beth KitchingsDirector of MembFT$142,864$18,094$160,958
Beth KitchingsDirector of Membership-$142,864$18,094$160,958
Cathy Northington- Resigned 324Chief Oper.FT$139,909$5,867$145,776
Danielle WilliamsDirector ofFT$101,501$26,674$128,175
Vickie PowellVP of Foundation Prg-$19,933$22,505$42,438

Board Members and Trustees

NameTitle
Pat ThomassonChair
Aaron SiskDirector
Alan HargettDirector
Andrew MallinsonDirector
Anthony WilsonDirector
Augustus CollinsDirector
Bill LamptonDirector
Bruce DevineyDirector
Carol PigottDirector
David E BrevardDirector
Haley FisackerlyDirector
Jack R Reed JrDirector
James D Rollins IiiDirector
Jeff FieldDirector
Kari WilkersonDirector
Kate BourgeoisDirector
Lex TaylorDirector
Michael WalkerDirector
Tommy DulaneyDirector
William SonesDirector
William Yates IiiDirector
John Hairston1st Incoming
Jeff Bowman1st Past CHA
Duane Dewey2nd Incoming
Martin Williams2nd Past CHA
Matthew DavidsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,496,340
Investment Income
$1,107
Other Revenue
$286
Change in Net Assets
$109,586
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,390,701
Salaries, Compensation, and Employee Benefits$997,446
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings---$677,236
Other Salaries and Wages---$554,197
Current Officers, Directors, Trustees, and Key Employees---$299,922
Fees for Services Other---$174,333
Office Expenses---$113,131
Fees for Services Accounting---$79,629
Advertising---$73,715
Fees for Services Lobbying---$67,690
Payroll Taxes---$56,610
Other Employee Benefits---$49,216
Occupancy---$37,523
Pension Plan Contributions---$37,501
Interest---$37,304
Information Technology---$30,777
Depreciation Depletion---$24,011
Travel---$18,536
Fees for Services Legal---$15,996
Insurance---$15,096
Other Expenses---$11,724
Total Functional Expenses$0$0$0$2,388,147
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$214,000
Total Nondeductible Lobbying and Political Cost$214,000
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Trustmark National BankSharedOffice RentalNo$51,336
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Nissan Loan$36,883
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“William yates iii duane dewey director director business relationship william yates iii augustus collins director director business relationship augustus collins duane dewey director director business relationship”

Form 990, Page 6, Part VI, Line 3

“Chief financial officer and human resource duties were sub-contracted during the year.”

Form 990, Page 6, Part VI, Line 11B

“The president of the organization reviews the 990 with the cpa firm who prepared it.”

Form 990, Page 6, Part VI, Line 12C

“Annually, each board member is provided a form in which relationships that could give rise to conflicts are to be documented.”

Form 990, Page 6, Part VI, Line 15A

“Each year during the budgeting process, the executive committee recomends a compensation package for the president based on their review of his performance and after reviewing ceo compensation from 990's of similar organizations. The board of directors approves the budget.”

Form 990, Page 6, Part VI, Line 19

“The organization makes it's governing documents, conflict of interest policy or financial statements available to the general public upon request.”

Form 990, Part VII

“The mississippi economic council is the common paymaster for the related group that also includes the propel education forum of ms and the m.b. Swayze education foundation. Mec pays all of the salary. Time spent by mec employees for pef and mbsf is allocated to those organization and presented as paid by related parties in part vii, section a, column e.”

Filing and Contact Details

Filer

Filer Name
Mississippi Economic Council
EIN
64-0293716
Phone
6019690022
Address
P O BOX 23276, JACKSON, MS 39225-3276

Signing Officer

Name
John S Waller
Title
CEO/president
Phone
6019690022
Signed
2026-03-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John S Waller
Formed
1949
Legal Domicile
Ms
Voting Board Members
26
Independent Board Members
23
Employees
13

Preparer

Firm
Corbin & Biggs Pllc
Address
385-B HIGHLAND COLONY PARKWAY SUIT, RIDGELAND, MS 39157
Preparer
George M Biggs Jr
Phone
6019572001
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To build a sense of statewide business community. As the state chamber of commerce, the organization serves as a meaningful voice on issues and initiatives focusing on the state's future in education, workforce, business climate and image.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Mec is exempt from income taxes under internal revenue code section 501(c) (6). The mbsf and pef are exempt from income taxes under internal revenue code section 501(c)(3). Accounting rules prescribe when to recognize and how to measure the financial statement effect, if any, of income tax positions taken or expected to be taken on income tax returns including the position that the organizations will continue to qualify as tax exempt organizations. Management evaluates the likelihood that, upon examination by relevant taxing jurisdictions, those income tax positions would be sustained. Based on that evaluation, if it were more than 50% probable that a material amount of income tax would be imposed on the organizations upon examination by the relevant taxing authorities, a liability would be recognized in the statement of financial position along with any interest and penalties resulting from that assessment. Should any penalties and interest be incurred, the organizations' policy would be to recognize them as operating expenses. Based on management's evaluation, no liabilities or penalties and interest were required to be recorded for uncertain tax positions for the year ended april 30, 2025. Years that remain subject to examination by the internal revenue service include the years ended april 30, 2025, 2024, 2023, and 2022.”

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