Civic Intelligence

Millsaps College

990 • Fiscal year 2020 • EIN 64-0303084

Jul 01, 2019 to Jun 30, 2020 • Filed on May 15, 2021

PO Box 150433Jackson, MS 39210

(601) 974-1105

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

43rd percentile

0.25x

Higher debt load relative to assets than 43% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

66th percentile

0.86x

Higher debt load relative to revenue than 66% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Net Margin

25th percentile

-2.9%

Higher net margin than 25% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$341,860

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Asset Growth

35th percentile

1.5%

Faster asset growth than 35% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

20th percentile

-13%

Faster revenue growth than 20% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Up

$178,487,613

Up $2,682,716 (+1.5%) from 2019

Net Assets

Down

$134,746,506

Down $982,572 (-0.7%) from 2019

Liabilities

Up

$43,741,107

Up $3,665,288 (+9.1%) from 2019

Revenue

Down

$50,786,555

Down $7,503,386 (-13%) from 2019

Expenses

Down

$52,267,840

Down $5,004,092 (-8.7%) from 2019

Net Income

Down

-$1,481,285

Down $2,499,294 (-246%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $145,151,118Liabilities 2010: $44,205,299Net Assets 2010: $100,945,8192010Assets 2011: $155,807,421Liabilities 2011: $41,631,860Net Assets 2011: $114,175,5612011Assets 2012: $146,523,352Liabilities 2012: $43,067,198Net Assets 2012: $103,456,1542012Assets 2013: $162,952,226Liabilities 2013: $39,691,575Net Assets 2013: $123,260,6512013Assets 2014: $180,214,081Liabilities 2014: $42,205,089Net Assets 2014: $138,008,9922014Assets 2015: $172,270,162Liabilities 2015: $47,029,530Net Assets 2015: $125,240,6322015Assets 2016: $162,210,300Liabilities 2016: $49,578,213Net Assets 2016: $112,632,0872016Assets 2017: $170,705,089Liabilities 2017: $42,521,122Net Assets 2017: $128,183,9672017Assets 2018: $174,081,309Liabilities 2018: $41,228,395Net Assets 2018: $132,852,9142018Assets 2019: $175,804,897Liabilities 2019: $40,075,819Net Assets 2019: $135,729,0782019Assets 2020: $178,487,613Liabilities 2020: $43,741,107Net Assets 2020: $134,746,5062020Assets 2021: $206,414,580Liabilities 2021: $37,941,327Net Assets 2021: $168,473,2532021Assets 2022: $191,983,134Liabilities 2022: $34,584,314Net Assets 2022: $157,398,8202022Assets 2023: $201,328,544Liabilities 2023: $32,774,906Net Assets 2023: $168,553,6382023Assets 2024: $206,540,754Liabilities 2024: $29,785,235Net Assets 2024: $176,755,5192024

Highlighted filing

2020

Assets$178,487,613
Liabilities$43,741,107
Net Assets$134,746,506

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$80M$60M$40M$20M$0-$20MExpenses 2010: $51,517,4572010Expenses 2011: $53,187,8742011Expenses 2012: $51,640,4252012Revenue 2013: $70,065,746Expenses 2013: $50,789,577Net Income 2013: $19,276,1692013Revenue 2014: $50,338,183Expenses 2014: $49,891,885Net Income 2014: $446,2982014Revenue 2015: $49,503,601Expenses 2015: $52,499,991Net Income 2015: -$2,996,3902015Revenue 2016: $47,929,689Expenses 2016: $54,881,773Net Income 2016: -$6,952,0842016Revenue 2017: $60,016,828Expenses 2017: $57,779,341Net Income 2017: $2,237,4872017Revenue 2018: $58,965,203Expenses 2018: $58,036,801Net Income 2018: $928,4022018Revenue 2019: $58,289,941Expenses 2019: $57,271,932Net Income 2019: $1,018,0092019Revenue 2020: $50,786,555Expenses 2020: $52,267,840Net Income 2020: -$1,481,2852020Revenue 2021: $60,487,890Expenses 2021: $48,944,113Net Income 2021: $11,543,7772021Revenue 2022: $59,398,163Expenses 2022: $54,131,648Net Income 2022: $5,266,5152022Revenue 2023: $62,268,494Expenses 2023: $52,097,442Net Income 2023: $10,171,0522023Revenue 2024: $49,893,046Expenses 2024: $51,520,523Net Income 2024: -$1,627,4772024

Highlighted filing

2020

Revenue$50,786,555
Expenses$52,267,840
Net Income-$1,481,285
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 15, 2021
Return Version
2019v5.1
Gross Receipts
$74,068,071
Mission and Program Overview

Mission

Millsaps college is dedicated to academic excellence, to open inquiry and free expression, to the exploration of faith to inform vocation, and to the innovative shaping of the social, economic, and cultural progress of our region.

Millsaps college is a private nonprofit liberal arts college based in jackson, ms; providing education and training services for students at the undergraduate and graduate level

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$52,438,779$52,435,096▼ $3,683
Land, Buildings, and Equipment, Net$49,998,767$49,423,506▼ $575,261
Investments Other Securities$37,259,844$29,868,439▼ $7,391,405
Savings and Temporary Cash Investments$8,519,497$15,890,110▲ $7,370,613
Pledges and Grants Receivable$2,775,843$2,475,582▼ $300,261
Cash and Non-Interest-Bearing Accounts$2,795,348$2,037,328▼ $758,020
Accounts Receivable$506,495$1,439,299▲ $932,804
Other Notes and Loans Receivable, Net$1,334,799$1,128,027▼ $206,772
Prepaid Expenses and Deferred Charges$4,020$285,472▲ $281,452
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$175,804,897$178,487,613▲ $2,682,716
Other Assets Total$20,171,505$23,504,754▲ $3,333,249
Liabilities
Tax Exempt Bond Liabilities$22,405,696$21,343,196▼ $1,062,500
Mortgage Notes Payable Secured by Investment Property$5,560,304$9,668,486▲ $4,108,182
Deferred Revenue$967,216$4,309,984▲ $3,342,768
Other Liabilities$3,806,838$3,696,905▼ $109,933
Accounts Payable and Accrued Expenses$5,912,817$3,389,898▼ $2,522,919
Unsecured Notes Loans Payable$1,422,948$1,332,638▼ $90,310
Grants Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$40,075,819$43,741,107▲ $3,665,288
Net Assets / Fund Balance
Net Assets With Donor Restrictions$107,686,034$90,716,583▼ $16,969,451
Net Assets Without Donor Restrictions$28,043,044$44,029,923▲ $15,986,879
Total Net Assets Fund Balance$135,729,078$134,746,506▼ $982,572
Total Liabilities and Net Assets / Fund Balance$175,804,897$178,487,613▲ $2,682,716

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$42,847,021$61,244,172$104,091,193
Equipment$733,698$12,336,499$13,070,197
Other Land Buildings$5,431,602$1,678,926$7,110,528
Land$411,185-$411,185
Other Assets Org$708--
Other Securities$29,868,439--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$90,331,873$1,238,649▲ $4,456,605$5,939,651$88,029,490
2018$93,923,505$1,276,562▲ $4,814,941$6,271,090$90,331,873
2017$93,077,171$1,249,188▲ $6,538,386$4,100,097$93,923,505
2016$89,907,656$1,385,272▲ $9,549,224$4,742,650$93,077,171
2015$92,426,999$4,902,937▲ $2,477,484$6,595,964$89,907,656
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Robert PearigenPresidentFT$300,191$41,669$341,860
Robert AlexanderVP for Enrollment & CommFT$196,956$12,607$209,563
Damon CampbellAssociate Professor of MISFT$136,903$70,107$207,010
Kimberly BurkeProfessor of AccountingFT$173,792$32,608$206,400
Guy M McClainAssoc. Professor of AccountingFT$127,007$76,505$203,512
Jesse BeelerProfessor of AccountingFT$133,709$67,376$201,085
Dr Keith DunnProvost & Dean of the CollegeFT$166,399$32,853$199,252
Hope CarterVP for Inst. AdvancementFT$157,433$31,933$189,366
Harvey FiserProfessor of Business LawFT$98,902$67,923$166,825
Whitney EmrichVP of FinanceFT$107,484$28,357$135,841
Demi BrownDean of StudentsFT$90,047$12,644$102,691

Highest Paid Contractors

ContractorServicesLocationCompensation
Wg Yates Sons ConstructionConstructionPO BOX 456, Philadelphia, MS 39350$7,008,458
Aramark CorporationFood ServicesARAMARK DALLAS LOCKBOX, Dallas, TX 75397$2,624,346
EabMarketingPO BOX 603519, Charlotte, NC 28260$747,889
Academic Technologies IncTechnology Services209B Industrial Dr, Ridgeland, MS 39157$456,419
Prewitt Contract Services IncCleaning & MaintPO Box 2268, Clinton, MS 39060$430,828
Revenue and Support

Revenue Composition

Contributions and Grants
$7,110,086
Program Service Revenue
$38,138,876
Investment Income
$3,604,164
Other Revenue
$1,933,429
All Other Contributions
$6,325,516
Change in Net Assets
$-1,481,285

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded98$737,182Fair Market Value (FMV)
Other Non Cash Contri Table1$510Fair Market Value (FMV)
Total Noncash Contributions99$737,692-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$20,104,946
Salaries, Compensation, and Employee Benefits$17,521,676
Other Expenses$14,626,163
Total Fundraising Expense$1,701,236
Professional Fundraising Fees$15,055

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$19,008,274--$19,008,274
Other Salaries and Wages$11,754,279$1,841,787$744,713$14,340,779
Depreciation Depletion$3,257,926$103,976$103,976$3,465,878
Office Expenses$1,900,086$290,291$16,869$2,207,246
Occupancy$1,485,866$403,966$51,541$1,941,373
Interest$1,314,948$41,966$41,966$1,398,880
Current Officers, Directors, Trustees, and Key Employees$260,039$618,175$328,818$1,207,032
Foreign Grants$1,096,672--$1,096,672
Payroll Taxes$785,664$160,911$66,663$1,013,238
Fees for Services Other$668,416$309,681$4,701$982,798
Travel$672,220$119,084$41,646$832,950
Information Technology$578,603$124,731$24,241$727,575
Pension Plan Contributions$407,679$85,196$16,695$509,570
All Other Expenses$332,200$115,140$52,158$499,498
Other Employee Benefits$381,224$59,451$10,382$451,057
Advertising$267,541$86,711$47,144$401,396
Insurance$38,970$213,324$856$253,150
Other Expenses$116,703$47,496$62,746$226,945
Fees for Services Accounting-$84,000-$84,000
Fees for Services Legal-$64,975-$64,975
Conferences and Meetings$49,942$9,286$4,639$63,867
Fees for Services Professional Fundraising--$15,055$15,055
Total Functional Expenses$45,114,260$5,452,344$1,701,236$52,267,840
International Activity

International Summary

Spending
$13,767,852

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsStudy Abroad Program--$12,487,168
North AmericaProgram Services---$1,096,672
North AmericaProgram ServicesResearch--$75,637
Europe (Including Iceland and Greenland)Program ServicesStudy Abroad Program--$44,625
North AmericaProgram ServicesAcademic Facilities--$34,032
North AmericaProgram ServicesGrants--$29,718
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$40,213
Professional Fundraising Fees$15,055
Gaming Direct Expenses$14,772
Fundraising Gross Income$13,280
Fundraising Direct Expenses$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Parking for Jsu$7,280$7,280-$7,280
Bb Guaranteed$6,000$6,000-$6,000
Total Events$18,975$13,280-$13,280
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liability for Financial Instrument$2,072,629
Advance Under Government Loans$997,771
Due to Aramark$329,823
Liability for Asset Retirement$296,682

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMississippi Business Finance Corp2008-08-05$31,000,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$31,058,702$16,618,627$9,600,000$265,304

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, PAGE 6, PART VI, SECTION B, LINE 11B:

The Form 990 is reviewed in detail by the audit committee prior to filing with the IRS. A copy of the Form 990 is then provided to the entire Board prior to filing with the IRS.

Form 990, PAGE 6, PART VI, SECTION B, LINE 12C:

Board members and officers complete and file a written conflict of interest statement annually. These statements are maintained in the Business office. The Business Office reviews and reports all findings on the Form 990. If a conflict of interest exists, the board member does not vote on the specific issue.

Form 990, Page 6, Part VI, Section B, Line 15A&B

Compensation for the President is reviewed and approved by the Compensation and Executive Committees of the Board. Compensation for other officers is approved by the President. Compensation for officers is determined from review of market comparisons and performance measurements with other similar institutions.

Form 990, Page 6, Part VI, Section C, Line 19

The organization's governing documents and conflict of interest policy are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Millsaps College
EIN
64-0303084
In Care Of
% WHITNEY EMRICH
Phone
6019741105
Address
PO Box 150433, Jackson, MS 39210

Signing Officer

Name
Whitney Emrich
Title
VP of Finance/admin
Phone
6019741100
Signed
2021-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Pearigen
Formed
1890
Legal Domicile
Ms
Voting Board Members
40
Independent Board Members
40
Employees
839
Volunteers
40

Preparer

Firm
Bkd Llp
Address
1400 Meadowbrook Road Suite 300, Jackson, MS 39211-6349
Preparer
Mary F Overstreet CPA
Phone
6019486700
Supplemental Narrative

Additional Explanations

FORM 990, PAGE 12, PART XI, LINE 9:

OTHER CHANGES IN FUND BALANCE: ELIMINATION OF MDI 154,911 INCREASE IN CASH SURRENDER VALUE 104,101 CHANGE IN VALUE IN SPLIT INTERESTS (116,191) CHANGE IN INTEREST RATE SWAP (200,814) CHANGE IN BENEFICIAL TRUST 490,427 Book/Tax Difference in K-1s 90,089 TOTAL - OTHER CHANGES IN FUND BALANCE $ 522,523

Financial Statement Notes

Part V, Line 4:

The intended uses of the endowment are primarily student scholarships, faculty chairs and salaries and academic departmental support.

Part X, Line 2

Management has evaluated the college's income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

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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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IRS990/Form990PartVIISectionAGrp/PersonNm0Dr Robert Pearigen
IRS990/Form990PartVIISectionAGrp/PersonNm1Robert Alexander
IRS990/Form990PartVIISectionAGrp/PersonNm2Damon Campbell
IRS990/Form990PartVIISectionAGrp/PersonNm3Kimberly Burke
IRS990/Form990PartVIISectionAGrp/PersonNm4Guy M McClain
IRS990/Form990PartVIISectionAGrp/PersonNm5Jesse Beeler
IRS990/Form990PartVIISectionAGrp/PersonNm6Dr Keith Dunn
IRS990/Form990PartVIISectionAGrp/PersonNm7Hope Carter
IRS990/Form990PartVIISectionAGrp/PersonNm8Harvey Fiser
IRS990/Form990PartVIISectionAGrp/PersonNm9Whitney Emrich
IRS990/Form990PartVIISectionAGrp/PersonNm10Demi Brown
IRS990/Form990PartVIISectionAGrp/PersonNm11Paul Benton
IRS990/Form990PartVIISectionAGrp/PersonNm12Rev Warren Black
IRS990/Form990PartVIISectionAGrp/PersonNm13Jim Coggin
IRS990/Form990PartVIISectionAGrp/PersonNm14Tom Fowlkes
IRS990/Form990PartVIISectionAGrp/PersonNm15Maurice Hall
IRS990/Form990PartVIISectionAGrp/PersonNm16Monica Sethi Harrigill
IRS990/Form990PartVIISectionAGrp/PersonNm17Randy James
IRS990/Form990PartVIISectionAGrp/PersonNm18John Lindsey
IRS990/Form990PartVIISectionAGrp/PersonNm19Amanda Turner
IRS990/Form990PartVIISectionAGrp/PersonNm20Bud Robinson Jr
IRS990/Form990PartVIISectionAGrp/PersonNm21Roger M Smith
IRS990/Form990PartVIISectionAGrp/PersonNm22Robert L Lyle
IRS990/Form990PartVIISectionAGrp/PersonNm23Ryan Beckett
IRS990/Form990PartVIISectionAGrp/PersonNm24Susan Eskridge Frazier
IRS990/Form990PartVIISectionAGrp/PersonNm25Joseph T Reiff
IRS990/Form990PartVIISectionAGrp/PersonNm26Michael Bourland
IRS990/Form990PartVIISectionAGrp/PersonNm27Katherine B Brady
IRS990/Form990PartVIISectionAGrp/PersonNm28Rev Dr Stephen T Cook
IRS990/Form990PartVIISectionAGrp/PersonNm29Rev Claire Dobbs
IRS990/Form990PartVIISectionAGrp/PersonNm30John D Durrett
IRS990/Form990PartVIISectionAGrp/PersonNm31Mark Freeman
IRS990/Form990PartVIISectionAGrp/PersonNm32Chris Cheek
IRS990/Form990PartVIISectionAGrp/PersonNm33Judge James E Graves Jr
IRS990/Form990PartVIISectionAGrp/PersonNm34David Marsh
IRS990/Form990PartVIISectionAGrp/PersonNm35Rev Ricky James
IRS990/Form990PartVIISectionAGrp/PersonNm36Holly Powell Lange
IRS990/Form990PartVIISectionAGrp/PersonNm37Rev Steven P Keen
IRS990/Form990PartVIISectionAGrp/PersonNm38Rev Vicki Landrum
IRS990/Form990PartVIISectionAGrp/PersonNm39Charles R Lathem
IRS990/Form990PartVIISectionAGrp/PersonNm40Paul McNeill

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$207$29.8$177$49.9$51.5$1.63
2023Detailed filing. Detailed filing data is available for this year.$201$32.8$169$62.3$52.1$10.2
2022Detailed filing. Detailed filing data is available for this year.$192$34.6$157$59.4$54.1$5.27
2021Detailed filing. Detailed filing data is available for this year.$206$37.9$168$60.5$48.9$11.5
2020Detailed filing. Detailed filing data is available for this year.$178$43.7$135$50.8$52.3$1.48
2019Detailed filing. Detailed filing data is available for this year.$176$40.1$136$58.3$57.3$1.02
2018Detailed filing. Detailed filing data is available for this year.$174$41.2$133$59.0$58.0$0.93
2017Detailed filing. Detailed filing data is available for this year.$171$42.5$128$60.0$57.8$2.24
2016Detailed filing. Detailed filing data is available for this year.$162$49.6$113$47.9$54.9$6.95
2015Detailed filing. Detailed filing data is available for this year.$172$47.0$125$49.5$52.5$3.00
2014Detailed filing. Detailed filing data is available for this year.$180$42.2$138$50.3$49.9$0.45
2013Summary only. Only limited summary data is available for this year.$163$39.7$123$70.1$50.8$19.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$147$43.1$103$51.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$156$41.6$114$53.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$145$44.2$101$51.5