Civic Intelligence

Greater Biloxi Economic Development Foundation Inc.

990 • Fiscal year 2020 • EIN 64-0663887

Oct 01, 2019 to Sep 30, 2020 • Filed on Sep 14, 2021

Organization ProfileNONE
770 Water Street Suite 443Biloxi, MS 39530

(228) 324-0828

Siviq Scores

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

Liabilities / Assets

90th percentile

0.66x

Higher debt load relative to assets than 90% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

4.82x

Higher debt load relative to revenue than 98% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

9th percentile

-87%

Higher net margin than 9% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

82nd percentile

$15,019

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 42.9% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

26th percentile

-12%

Faster asset growth than 26% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

16th percentile

-62%

Faster revenue growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$254,336

Down $34,041 (-12%) from 2019

Net Assets

Down

$85,840

Down $30,545 (-26%) from 2019

Liabilities

Down

$168,496

Down $3,496 (-2.0%) from 2019

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin9th percentile

Revenue

Down

$34,989

Down $57,698 (-62%) from 2019

Expenses

Down

$65,534

Down $94,609 (-59%) from 2019

Net Income

Up

-$30,545

Up $36,911 (+55%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$400K$300K$200K$100K$0Assets 2011: $282,255Liabilities 2011: $158,477Net Assets 2011: $123,7782011Assets 2012: $247,267Liabilities 2012: $158,724Net Assets 2012: $88,5432012Assets 2013: $273,975Liabilities 2013: $155,138Net Assets 2013: $118,8372013Assets 2014: $250,015Liabilities 2014: $160,398Net Assets 2014: $89,6172014Assets 2015: $229,997Liabilities 2015: $164,067Net Assets 2015: $65,9302015Assets 2016: $191,041Liabilities 2016: $163,352Net Assets 2016: $27,6892016Assets 2017: $193,914Liabilities 2017: $165,280Net Assets 2017: $28,6342017Assets 2018: $352,338Liabilities 2018: $168,497Net Assets 2018: $183,8412018Assets 2019: $288,377Liabilities 2019: $171,992Net Assets 2019: $116,3852019Assets 2020: $254,336Liabilities 2020: $168,496Net Assets 2020: $85,8402020Assets 2021: $258,722Liabilities 2021: $171,301Net Assets 2021: $87,4212021Assets 2022: $257,783Liabilities 2022: $171,906Net Assets 2022: $85,8772022

Highlighted filing

2020

Assets$254,336
Liabilities$168,496
Net Assets$85,840
Open 2020 Filing

Operations Trend

Revenue Growth16th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2011: $147,875Expenses 2011: $138,438Net Income 2011: $9,4372011Revenue 2012: $114,165Expenses 2012: $149,400Net Income 2012: -$35,2352012Revenue 2013: $138,381Expenses 2013: $147,599Net Income 2013: -$9,2182013Revenue 2014: $134,422Expenses 2014: $163,642Net Income 2014: -$29,2202014Revenue 2015: $127,810Expenses 2015: $151,497Net Income 2015: -$23,6872015Revenue 2016: $116,109Expenses 2016: $154,350Net Income 2016: -$38,2412016Revenue 2017: $153,363Expenses 2017: $152,418Net Income 2017: $9452017Revenue 2018: $306,990Expenses 2018: $151,783Net Income 2018: $155,2072018Revenue 2019: $92,687Expenses 2019: $160,143Net Income 2019: -$67,4562019Revenue 2020: $34,989Expenses 2020: $65,534Net Income 2020: -$30,5452020Revenue 2021: $6,771Expenses 2021: $5,190Net Income 2021: $1,5812021Revenue 2022: $17,919Expenses 2022: $19,463Net Income 2022: -$1,5442022

Highlighted filing

2020

Revenue$34,989
Expenses$65,534
Net Income-$30,545
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Sep 14, 2021
Return Version
2019v5.0
Gross Receipts
$34,989
Mission and Program Overview

Mission

Operation of business incubator

Operation and management of a business incubator.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$265,958$228,798▼ $37,160
Land, Buildings, and Equipment, Net$21,286$21,286→ $0
Cash and Non-Interest-Bearing Accounts$1,133$4,252▲ $3,119
Total Assets$288,377$254,336▼ $34,041
Liabilities
Other Liabilities$90,483$93,496▲ $3,013
Mortgage Notes Payable Secured by Investment Property$75,000$75,000→ $0
Accounts Payable and Accrued Expenses$6,509--
Total Liabilities$171,992$168,496▼ $3,496
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$116,385$85,840▼ $30,545
Total Net Assets Fund Balance$116,385$85,840▼ $30,545
Total Liabilities and Net Assets / Fund Balance$288,377$254,336▼ $34,041

Asset Categories

AssetBook ValueDepreciationBasis
Land$21,286-$21,286
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Stephen W WhittExecutive DiFT$15,019$15,019

Board Members and Trustees

NameTitle
Bud JonesPresident
Guy JohnsonBoard Member
James LeeBoard Member
John AthertonBoard Member
Mark SchloegelBoard Member
Vickie RiversSecretary/tr
Misty RussellVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$25,675
Investment Income
$2,164
Other Revenue
$7,150
Change in Net Assets
$-30,545
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$50,692
Other Expenses$14,842
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$19,974$4,992-$24,966
Current Officers, Directors, Trustees, and Key Employees$12,015$3,004-$15,019
Other Employee Benefits$5,083$1,271-$6,354
Payroll Taxes$2,546$637-$3,183
Interest-$3,013-$3,013
Office Expenses-$2,054-$2,054
Advertising$2,000--$2,000
Insurance$1,422--$1,422
Pension Plan Contributions$936$234-$1,170
Information Technology$825--$825
Fees for Services Accounting-$805-$805
Travel$455--$455
Fees for Services Legal$294--$294
Other Expenses$52$72-$52
Total Functional Expenses$48,142$17,392$0$65,534
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable$93,496
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Form 990 is reviewed by the board of directors prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Available for inspection upon request”

Filing and Contact Details

Filer

Filer Name
Greater Biloxi Economic Development
EIN
64-0663887
Phone
2283240828
Address
770 WATER STREET SUITE 443, BILOXI, MS 39530
Doing Business As
The Innovation Center

Signing Officer

Name
Bud Jones
Title
President
Phone
2283927133
Signed
2021-09-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bud Jones
Formed
1981
Legal Domicile
Ms
Voting Board Members
7
Independent Board Members
7
Employees
2
Volunteers
7

Preparer

Firm
Fletcher & Company Pllc
Address
10598 DIBERVILLE BLVD STE G, DIBERVILLE, MS 39540-2465
Preparer
Dean a Fletcher
Phone
2285946559
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 3

“During the fiscal year ended september 30, 2020, the harrison county, mississippi board of supervisors sold the building that was the business incubator. The harrison county development commission in light of the sale of the building cancelled the management agreement with the greater biloxi economic development foundation.”

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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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt089350
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt091550
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0379775
IRS990ScheduleA/TotalSupportAmt0500396
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/LandGrp/BookValueAmt021286
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt021286
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt093496
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt021286
IRS990ScheduleD/TotalLiabilityAmt093496
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2020, THE HARRISON COUNTY, MISSISSIPPI BOARD OF SUPERVISORS SOLD THE BUILDING THAT WAS THE BUSINESS INCUBATOR. THE HARRISON COUNTY DEVELOPMENT COMMISSION IN LIGHT OF THE SALE OF THE BUILDING CANCELLED THE MANAGEMENT AGREEMENT WITH THE GREATER BILOXI ECONOMIC DEVELOPMENT FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE FOR INSPECTION UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0true
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MS
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0288377
IRS990/TotalAssetsEOYAmt0254336
IRS990/TotalAssetsGrp/BOYAmt0288377
IRS990/TotalAssetsGrp/EOYAmt0254336
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017392
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt048142
IRS990/TotalFunctionalExpensesGrp/TotalAmt065534
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0171992
IRS990/TotalLiabilitiesEOYAmt0168496
IRS990/TotalLiabilitiesGrp/BOYAmt0171992
IRS990/TotalLiabilitiesGrp/EOYAmt0168496
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0116385
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt085840
IRS990/TotalProgramServiceExpensesAmt048142
IRS990/TotalProgramServiceRevenueAmt025675
IRS990/TotalReportableCompFromOrgAmt015019
IRS990/TotalRevenueGrp/ExclusionAmt02164
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt032825
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt034989
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0288377
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0254336
IRS990/TravelGrp/ProgramServicesAmt0455
IRS990/TravelGrp/TotalAmt0455
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0447 WATER STREET SUITE 443
IRS990/USAddress/CityNm0BILOXI
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd039530
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BUD JONES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02283927133
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREATER BILOXI ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0GREA
ReturnHeader/Filer/EIN0640663887
ReturnHeader/Filer/PhoneNum02283240828
ReturnHeader/Filer/USAddress/AddressLine1Txt0770 WATER STREET SUITE 443
ReturnHeader/Filer/USAddress/CityNm0BILOXI
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd039530
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461180471
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FLETCHER & COMPANY PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010598 DIBERVILLE BLVD STE G
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DIBERVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0395402465
ReturnHeader/PreparerPersonGrp/PhoneNum02285946559
ReturnHeader/PreparerPersonGrp/PreparationDt02021-09-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DEAN A FLETCHER
ReturnHeader/ReturnTs02021-09-14T15:11:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-10-01
ReturnHeader/TaxPeriodEndDt02020-09-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$254,336
Liabilities
$168,496
Net assets
$85,840
Revenue
$34,989
Expenses
$65,534
Net income
-$30,545
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$2.58$1.72$0.86$0.18$0.19$0.02
2021Detailed filing. Detailed filing data is available for this year.$2.59$1.71$0.87$0.07$0.05$0.02
2020Detailed filing. Detailed filing data is available for this year.$2.54$1.68$0.86$0.35$0.66$0.31
2019Detailed filing. Detailed filing data is available for this year.$2.88$1.72$1.16$0.93$1.60$0.67
2018Detailed filing. Detailed filing data is available for this year.$3.52$1.68$1.84$3.07$1.52$1.55
2017Detailed filing. Detailed filing data is available for this year.$1.94$1.65$0.29$1.53$1.52$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.91$1.63$0.28$1.16$1.54$0.38
2015Detailed filing. Detailed filing data is available for this year.$2.30$1.64$0.66$1.28$1.51$0.24
2014Detailed filing. Detailed filing data is available for this year.$2.50$1.60$0.90$1.34$1.64$0.29
2013Summary only. Only limited summary data is available for this year.$2.74$1.55$1.19$1.38$1.48$0.09
2012Summary only. Only limited summary data is available for this year.$2.47$1.59$0.89$1.14$1.49$0.35
2011Summary only. Only limited summary data is available for this year.$2.82$1.58$1.24$1.48$1.38$0.09