Civic Intelligence

Millsaps College

990 • Fiscal year 2023 • EIN 64-0303084

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

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

36th percentile

0.16x

Higher debt load relative to assets than 36% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

53rd percentile

0.53x

Higher debt load relative to revenue than 53% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

76th percentile

16%

Higher net margin than 76% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

33rd percentile

$347,994

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Asset Growth

46th percentile

4.9%

Faster asset growth than 46% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

52nd percentile

4.8%

Faster revenue growth than 52% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Assets

Up

$201,328,544

Up $9,345,410 (+4.9%) from 2022

Net Assets

Up

$168,553,638

Up $11,154,818 (+7.1%) from 2022

Liabilities

Down

$32,774,906

Down $1,809,408 (-5.2%) from 2022

Revenue

Up

$62,268,494

Up $2,870,331 (+4.8%) from 2022

Expenses

Down

$52,097,442

Down $2,034,206 (-3.8%) from 2022

Net Income

Up

$10,171,052

Up $4,904,537 (+93%) from 2022

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

2023

Assets$201,328,544
Liabilities$32,774,906
Net Assets$168,553,638

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

2023

Revenue$62,268,494
Expenses$52,097,442
Net Income$10,171,052
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$92,688,586
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$66,927,662$81,094,546▲ $14,166,884
Land, Buildings, and Equipment, Net$44,060,752$41,510,935▼ $2,549,817
Investments Other Securities$30,820,804$24,182,735▼ $6,638,069
Savings and Temporary Cash Investments$14,246,286$14,552,716▲ $306,430
Cash and Non-Interest-Bearing Accounts$7,231,447$8,161,484▲ $930,037
Pledges and Grants Receivable$3,500,293$3,992,814▲ $492,521
Accounts Receivable$450,186$2,064,884▲ $1,614,698
Other Notes and Loans Receivable, Net$670,987$272,804▼ $398,183
Prepaid Expenses and Deferred Charges$63,620$214,288▲ $150,668
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$191,983,134$201,328,544▲ $9,345,410
Other Assets Total$24,011,097$25,281,338▲ $1,270,241
Liabilities
Tax Exempt Bond Liabilities$28,844,519$26,929,855▼ $1,914,664
Accounts Payable and Accrued Expenses$3,236,831$3,872,110▲ $635,279
Deferred Revenue$664,617$700,185▲ $35,568
Other Liabilities$1,207,126$685,158▼ $521,968
Unsecured Notes Loans Payable$631,221$587,598▼ $43,623
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$34,584,314$32,774,906▼ $1,809,408
Net Assets / Fund Balance
Net Assets With Donor Restrictions$104,113,644$109,813,544▲ $5,699,900
Net Assets Without Donor Restrictions$53,285,176$58,740,094▲ $5,454,918
Total Net Assets Fund Balance$157,398,820$168,553,638▲ $11,154,818
Total Liabilities and Net Assets / Fund Balance$191,983,134$201,328,544▲ $9,345,410

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$38,317,285$67,818,648$106,135,933
Equipment$688,244$7,116,482$7,804,726
Other Land Buildings$2,094,221$1,683,979$3,778,200
Land$411,185-$411,185
Other Assets Org$63--
Other Securities$1,356,366--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$98,495,928$1,717,468▲ $10,882,726$4,896,094$103,359,546
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Robert PearigenPresidentFT$305,349$42,645$347,994
Harvey FiserDean Else School MgmtFT$185,287$34,609$219,896
Jesse BeelerProfessor of AccountingFT$170,234$47,340$217,574
Dr Keith DunnProvost & Dean of the CollegeFT$169,305$38,583$207,888
Whitney EmrichVP of FInanceFT$167,907$37,245$205,152
Martin SmithVP Institutional DevelopmentFT$156,635$43,926$200,561
Timothy WardProfessor of ChemistryFT$99,181$100,931$200,112
Guy M McClainAssoc. Professor of AccountingFT$182,039$15,790$197,829
Annie MitchellVP of Marketing and CommunicatFT$162,678$32,161$194,839
Beth ClarkeVP of EnrollmentFT$157,763$36,938$194,701
Blakely FenderProfessor of Else SchoolFT$101,091$69,034$170,125
Megan JamesDean of StudentsFT$102,816$31,253$134,069
Aaron PelchVP of EnrollmentFT$104,405$22,594$126,999

Highest Paid Contractors

ContractorServicesLocationCompensation
Aramark CorporationFood ServicesPO BOX 978839, Dallas, TX 75397-8839$2,124,580
Andercorp LLCConstruction1404 24TH AVE, Gulfport, MS 39501$908,537
Sej Services LLCCleaning & Maint222 W COLEMAN BLVD, Mount Pleasant, SC 29464$723,653
Ellucian INCSoftware Services2003 EDMUND HALLEY DRIVE, Reston, VA 20191$333,520
Rotolo Consultants INCLandscaping38001 BROWNSVILLAGE RD, Sidell, LA 70460$260,353
Revenue and Support

Revenue Composition

Contributions and Grants
$10,361,757
Program Service Revenue
$34,256,340
Investment Income
$11,286,465
Other Revenue
$6,363,932
All Other Contributions
$9,906,979
Change in Net Assets
$10,171,052

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 Traded44$3,103,130Fair Market Value (FMV)
Other Non Cash Contri Table1$2,500Fair Market Value (FMV)
Total Noncash Contributions45$3,105,630-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$18,730,847
Salaries, Compensation, and Employee Benefits$16,948,820
Other Expenses$16,398,775
Total Fundraising Expense$3,569,101
Professional Fundraising Fees$19,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$18,049,701--$18,049,701
Other Salaries and Wages$7,862,074$3,899,588$1,396,504$13,158,166
Depreciation Depletion$1,941,041$962,756$344,778$3,248,575
Office Expenses$1,690,649$838,562$300,302$2,829,513
Occupancy$1,545,959$766,795$274,602$2,587,356
Current Officers, Directors, Trustees, and Key Employees$129,890$1,196,307$204,481$1,530,678
Travel$811,591$402,549$144,159$1,358,299
Payroll Taxes$600,864$298,028$106,729$1,005,621
Information Technology$546,272$270,951$97,031$914,254
Other Employee Benefits$454,505$225,434$80,732$760,671
Fees for Services Other$443,240$219,847$78,731$741,818
Advertising$410,496$203,606$72,915$687,017
Foreign Grants$681,146--$681,146
Interest$370,137$183,588$65,745$619,470
Pension Plan Contributions$294,979$146,309$52,396$493,684
All Other Expenses$244,824$83,920$30,052$358,796
Other Expenses$178,426$88,499$31,694$298,619
Insurance$137,421$68,161$24,409$229,991
Fees for Services Legal-$129,407-$129,407
Fees for Services Accounting-$88,700-$88,700
Conferences and Meetings$48,780$24,195$8,664$81,639
Fees for Services Professional Fundraising--$19,000$19,000
Total Functional Expenses$37,771,637$10,756,704$3,569,101$52,097,442
International Activity

International Summary

Offices
0
Employees
0
Spending
$16,236,485

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
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsStudy Abroad Program00$15,260,787
North AmericaProgram Services-00$681,146
North AmericaProgram ServicesAcademic Facilities00$94,052
North AmericaProgram ServicesGrants00$70,942
Europe (Including Iceland and Greenland)Program ServicesStudy Abroad Program00$63,697
North AmericaProgram ServicesResearch00$51,066
Sub-Saharan AfricaProgram ServicesStudy Abroad Program00$9,343
East Asia and the PacificProgram ServicesStudy Abroad Program00$5,452
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$19,000
Gaming Gross Income$10,636
Gaming Direct Expenses$10,177
Fundraising Direct Expenses$0
Fundraising Gross Income$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
Liability for Asset Retirement$304,572
Advance Under Government Loans$303,393
Due to Aramark$77,193

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$1,936,413$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
2024-05-15
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
630
Volunteers
40

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:

Increase in cash surrender value 160,727 change in value in split interests 47,355 change in beneficial trust 1,033,466 book tax difference in k-1s (490,731) ----------------------------------------------------- total - other changes in fund balance $ 750,817

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/PersonNm2Jesse Beeler
IRS990/Form990PartVIISectionAGrp/PersonNm3Dr Keith Dunn
IRS990/Form990PartVIISectionAGrp/PersonNm4Whitney Emrich
IRS990/Form990PartVIISectionAGrp/PersonNm5MARTIN SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm6TIMOTHY WARD
IRS990/Form990PartVIISectionAGrp/PersonNm7Guy M McClain
IRS990/Form990PartVIISectionAGrp/PersonNm8Annie Mitchell
IRS990/Form990PartVIISectionAGrp/PersonNm9Beth Clarke
IRS990/Form990PartVIISectionAGrp/PersonNm10Blakely Fender
IRS990/Form990PartVIISectionAGrp/PersonNm11Megan James
IRS990/Form990PartVIISectionAGrp/PersonNm12AARON PELCH
IRS990/Form990PartVIISectionAGrp/PersonNm13Paul Benton
IRS990/Form990PartVIISectionAGrp/PersonNm14Jim Coggin
IRS990/Form990PartVIISectionAGrp/PersonNm15Tom Fowlkes
IRS990/Form990PartVIISectionAGrp/PersonNm16Maurice Hall
IRS990/Form990PartVIISectionAGrp/PersonNm17Monica Sethi Harrigill
IRS990/Form990PartVIISectionAGrp/PersonNm18John Lindsey
IRS990/Form990PartVIISectionAGrp/PersonNm19Bud Robinson Jr
IRS990/Form990PartVIISectionAGrp/PersonNm20Roger M Smith
IRS990/Form990PartVIISectionAGrp/PersonNm21Ryan Beckett
IRS990/Form990PartVIISectionAGrp/PersonNm22Michael Bourland
IRS990/Form990PartVIISectionAGrp/PersonNm23Katherine B Brady
IRS990/Form990PartVIISectionAGrp/PersonNm24Rev Dr Stephen T Cook
IRS990/Form990PartVIISectionAGrp/PersonNm25Rev Claire Dobbs
IRS990/Form990PartVIISectionAGrp/PersonNm26Mark Freeman
IRS990/Form990PartVIISectionAGrp/PersonNm27Chris Cheek
IRS990/Form990PartVIISectionAGrp/PersonNm28David Marsh
IRS990/Form990PartVIISectionAGrp/PersonNm29Holly Powell Lange
IRS990/Form990PartVIISectionAGrp/PersonNm30Charles R Lathem
IRS990/Form990PartVIISectionAGrp/PersonNm31Monte Rector
IRS990/Form990PartVIISectionAGrp/PersonNm32Steve Sansom
IRS990/Form990PartVIISectionAGrp/PersonNm33Donna Ruth Roberts
IRS990/Form990PartVIISectionAGrp/PersonNm34David B Russell
IRS990/Form990PartVIISectionAGrp/PersonNm35Mike Sturdivant
IRS990/Form990PartVIISectionAGrp/PersonNm36Ward W Van Skiver

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