Civic Intelligence

Millsaps College

990 • Fiscal year 2022 • EIN 64-0303084

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

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

39th percentile

0.18x

Higher debt load relative to assets than 39% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.58x

Higher debt load relative to revenue than 58% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

58th percentile

8.9%

Higher net margin than 58% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

28th percentile

$314,194

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

30th percentile

-7.0%

Faster asset growth than 30% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

35th percentile

-1.8%

Faster revenue growth than 35% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Assets

Down

$191,983,134

Down $14,431,446 (-7.0%) from 2021

Net Assets

Down

$157,398,820

Down $11,074,433 (-6.6%) from 2021

Liabilities

Down

$34,584,314

Down $3,357,013 (-8.8%) from 2021

Revenue

Down

$59,398,163

Down $1,089,727 (-1.8%) from 2021

Expenses

Up

$54,131,648

Up $5,187,535 (+11%) from 2021

Net Income

Down

$5,266,515

Down $6,277,262 (-54%) from 2021

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

2022

Assets$191,983,134
Liabilities$34,584,314
Net Assets$157,398,820

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

2022

Revenue$59,398,163
Expenses$54,131,648
Net Income$5,266,515
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$75,961,590
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$77,812,356$66,927,662▼ $10,884,694
Land, Buildings, and Equipment, Net$45,343,619$44,060,752▼ $1,282,867
Investments Other Securities$27,923,592$30,820,804▲ $2,897,212
Savings and Temporary Cash Investments$18,809,326$14,246,286▼ $4,563,040
Cash and Non-Interest-Bearing Accounts$4,152,731$7,231,447▲ $3,078,716
Pledges and Grants Receivable$3,975,058$3,500,293▼ $474,765
Other Notes and Loans Receivable, Net$994,489$670,987▼ $323,502
Accounts Receivable$385,150$450,186▲ $65,036
Prepaid Expenses and Deferred Charges$2,547$63,620▲ $61,073
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$206,414,580$191,983,134▼ $14,431,446
Other Assets Total$27,015,712$24,011,097▼ $3,004,615
Liabilities
Tax Exempt Bond Liabilities$20,220,696$28,844,519▲ $8,623,823
Mortgage Notes Payable Secured by Investment Property$9,261,778$0▼ $9,261,778
Accounts Payable and Accrued Expenses$3,645,242$3,236,831▼ $408,411
Other Liabilities$2,743,469$1,207,126▼ $1,536,343
Deferred Revenue$826,166$664,617▼ $161,549
Unsecured Notes Loans Payable$1,243,976$631,221▼ $612,755
Grants Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$37,941,327$34,584,314▼ $3,357,013
Net Assets / Fund Balance
Net Assets With Donor Restrictions$115,909,395$104,113,644▼ $11,795,751
Net Assets Without Donor Restrictions$52,563,858$53,285,176▲ $721,318
Total Net Assets Fund Balance$168,473,253$157,398,820▼ $11,074,433
Total Liabilities and Net Assets / Fund Balance$206,414,580$191,983,134▼ $14,431,446

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$39,984,248$65,603,193$105,587,441
Equipment$601,682$8,973,887$9,575,569
Other Land Buildings$3,063,637$1,682,388$4,746,025
Land$411,185-$411,185
Other Assets Org$5,373--
Other Securities$30,820,804--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$109,639,060$3,516,452▼ $7,714,664$4,322,752$98,495,928
2020$88,029,490$4,326,072▲ $23,660,996$4,366,242$109,639,060
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Robert PearigenPresidentFT$275,608$38,586$314,194
Harvey FiserInterim Dean Else School MgmtFT$147,196$64,810$212,006
Dr Keith DunnProvost & Dean of the CollegeFT$164,883$35,223$200,106
Annie MitchellVP of Marketing and CommunicatFT$159,146$40,085$199,231
Whitney EmrichVP of FInanceFT$159,108$34,140$193,248
Guy M McClainAssoc. Professor of AccountingFT$124,674$64,750$189,424
Beth ClarkeVP of EnrollmentFT$154,341$33,941$188,282
Damon CampbellAssociate Professor of MISFT$129,021$47,639$176,660
Jesse BeelerProfessor of AccountingFT$132,577$33,994$166,571
Blakely FenderProfessor of Else SchoolFT$101,686$60,398$162,084
Hope CarterVP for Inst. AdvancementFT$96,359$19,259$115,618
Megan JamesDean of StudentsFT$51,505$17,260$68,765

Highest Paid Contractors

ContractorServicesLocationCompensation
Aramark CorporationFood ServicesPO BOX 978839, Dallas, TX 75397-8839$1,798,086
Sej Services LLCCleaning & Maint222 W COLEMAN BLVD, Mount Pleasant, SC 29464$700,258
Andercorp LLCConstruction1404 24TH AVE STE 300, Gulfport, MS 39501$637,552
Roofing Solutions LLCConstruction37302 COMMERCE LANE, Prairieville, LA 70769$371,659
Ellucian INCSoftware Maintenance62578 COLLECTIONS CENTER DR, Chicago, IL 60693$331,815
Revenue and Support

Revenue Composition

Contributions and Grants
$11,617,109
Program Service Revenue
$36,950,157
Investment Income
$8,728,551
Other Revenue
$2,102,346
All Other Contributions
$9,163,938
Change in Net Assets
$5,266,515

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 Traded52$584,805Fair Market Value (FMV)
Other Non Cash Contri Table1$4,500Fair Market Value (FMV)
Works of Art-$200Fair Market Value (FMV)
Total Noncash Contributions53$589,505-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$20,292,942
Other Expenses$16,922,690
Salaries, Compensation, and Employee Benefits$16,916,016
Total Fundraising Expense$1,620,885
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$19,384,827--$19,384,827
Other Salaries and Wages$10,829,323$1,641,408$672,280$13,143,011
Depreciation Depletion$3,123,348$99,681$99,681$3,322,710
Office Expenses$2,948,401$317,132$15,524$3,281,057
Occupancy$1,801,299$536,949$61,274$2,399,522
Current Officers, Directors, Trustees, and Key Employees$130,810$1,014,672$236,388$1,381,870
Interest$1,241,776$39,631$39,631$1,321,038
Travel$1,002,183$86,238$41,427$1,129,848
Other Employee Benefits$826,603$127,938$55,155$1,009,696
Payroll Taxes$705,344$170,038$60,259$935,641
Foreign Grants$908,115--$908,115
Fees for Services Other$516,114$345,810$221$862,145
Information Technology$653,717$128,335$53,788$835,840
All Other Expenses$323,411$112,854$121,080$557,345
Pension Plan Contributions$365,057$62,450$18,291$445,798
Advertising$261,330$95,901$39,187$396,418
Insurance$65,222$216,481$917$282,620
Other Expenses$119,376$54,444$40,403$214,223
Fees for Services Legal$19,988$99,785-$119,773
Fees for Services Accounting-$90,400-$90,400
Conferences and Meetings$62,394$9,341$6,611$78,346
Total Functional Expenses$46,600,428$5,910,335$1,620,885$54,131,648
International Activity

International Summary

Offices
0
Employees
0
Spending
$19,124,553

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 Program00$18,089,289
North AmericaProgram Services-00$908,115
North AmericaProgram ServicesGrants00$56,774
Europe (Including Iceland and Greenland)Program ServicesStudy Abroad Program00$24,226
North AmericaProgram ServicesAcademic Facilities00$20,764
North AmericaProgram ServicesResearch00$14,367
East Asia and the PacificProgram ServicesStudy Abroad Program00$11,018
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$24,469
Gaming Direct Expenses$14,640
Fundraising Gross Income$11,490
Fundraising Direct Expenses$813
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
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
Advance Under Government Loans$743,781
Liability for Asset Retirement$301,942
Due to Aramark$161,403
Liability for Financial Instrument$0

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMississippi Business Finance Corp2022-03-15$40,000,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$40,000,000$28,812,650$0$233,551

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
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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 for Finance/admin
Phone
6019741100
Signed
2023-05-15
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
600
Volunteers
47

Preparer

Firm
Forvis Llp
Address
PO BOX 3667, LITTLE ROCK, AR 72203-3667
Preparer
Amber Sherrill CPA
Phone
5013721040
Supplemental Narrative

Additional Explanations

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

Other changes in fund balance: decrease in cash surrender value (80,978) change in value in split interests (312,598) change in interest rate swap 733,411 change in beneficial trust (1,808,707) book/tax difference in k-1s 2,063,332 ------------------------------------------------------ total - other changes in fund balance $ 594,460

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/PersonNm1Harvey Fiser
IRS990/Form990PartVIISectionAGrp/PersonNm2Dr Keith Dunn
IRS990/Form990PartVIISectionAGrp/PersonNm3Annie Mitchell
IRS990/Form990PartVIISectionAGrp/PersonNm4Whitney Emrich
IRS990/Form990PartVIISectionAGrp/PersonNm5Guy M McClain
IRS990/Form990PartVIISectionAGrp/PersonNm6Beth Clarke
IRS990/Form990PartVIISectionAGrp/PersonNm7Damon Campbell
IRS990/Form990PartVIISectionAGrp/PersonNm8Jesse Beeler
IRS990/Form990PartVIISectionAGrp/PersonNm9Blakely Fender
IRS990/Form990PartVIISectionAGrp/PersonNm10Hope Carter
IRS990/Form990PartVIISectionAGrp/PersonNm11Megan James
IRS990/Form990PartVIISectionAGrp/PersonNm12Paul Benton
IRS990/Form990PartVIISectionAGrp/PersonNm13Jim Coggin
IRS990/Form990PartVIISectionAGrp/PersonNm14Tom Fowlkes
IRS990/Form990PartVIISectionAGrp/PersonNm15Maurice Hall
IRS990/Form990PartVIISectionAGrp/PersonNm16Monica Sethi Harrigill
IRS990/Form990PartVIISectionAGrp/PersonNm17John Lindsey
IRS990/Form990PartVIISectionAGrp/PersonNm18Bud Robinson Jr
IRS990/Form990PartVIISectionAGrp/PersonNm19Roger M Smith
IRS990/Form990PartVIISectionAGrp/PersonNm20Ryan Beckett
IRS990/Form990PartVIISectionAGrp/PersonNm21Michael Bourland
IRS990/Form990PartVIISectionAGrp/PersonNm22Katherine B Brady
IRS990/Form990PartVIISectionAGrp/PersonNm23Rev Dr Stephen T Cook
IRS990/Form990PartVIISectionAGrp/PersonNm24Rev Claire Dobbs
IRS990/Form990PartVIISectionAGrp/PersonNm25Mark Freeman
IRS990/Form990PartVIISectionAGrp/PersonNm26Chris Cheek
IRS990/Form990PartVIISectionAGrp/PersonNm27David Marsh
IRS990/Form990PartVIISectionAGrp/PersonNm28Holly Powell Lange
IRS990/Form990PartVIISectionAGrp/PersonNm29Rev Steven P Keen
IRS990/Form990PartVIISectionAGrp/PersonNm30Rev Vicki Landrum
IRS990/Form990PartVIISectionAGrp/PersonNm31Charles R Lathem
IRS990/Form990PartVIISectionAGrp/PersonNm32Monte Rector
IRS990/Form990PartVIISectionAGrp/PersonNm33Steve Sansom
IRS990/Form990PartVIISectionAGrp/PersonNm34Donna Ruth Roberts
IRS990/Form990PartVIISectionAGrp/PersonNm35David B Russell
IRS990/Form990PartVIISectionAGrp/PersonNm36Mike Sturdivant
IRS990/Form990PartVIISectionAGrp/PersonNm37Bishop James E Swanson Sr
IRS990/Form990PartVIISectionAGrp/PersonNm38Ward W Van Skiver
IRS990/Form990PartVIISectionAGrp/PersonNm39Penny Sanders Varner

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