Civic Intelligence

Mississippi Economic Development

990 • Fiscal year 2017 • EIN 64-0684730

Oct 01, 2016 to Sep 30, 2017 • Filed on Aug 10, 2018

Organization ProfileWWW.MEDC.MS
1675 Lakeland Drive Suite 502Jackson, MS 39216

(601) 352-1909

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.01x

Higher debt load relative to assets than 52% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

52nd percentile

0.00x

Higher debt load relative to revenue than 52% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Net Margin

18th percentile

-13%

Higher net margin than 18% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Top Officer Pay

94th percentile

$84,204

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 21.5% of source-year revenue.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Asset Growth

22nd percentile

-14%

Faster asset growth than 22% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

22nd percentile

-14%

Faster revenue growth than 22% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Down

$320,410

Down $51,940 (-14%) from 2016

Net Assets

Down

$318,557

Down $52,893 (-14%) from 2016

Liabilities

Up

$1,853

Up $953 (+106%) from 2016

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin18th percentile

Revenue

Down

$392,216

Down $66,205 (-14%) from 2016

Expenses

Up

$445,109

Up $11,656 (+2.7%) from 2016

Net Income

Down

-$52,893

Down $77,861 (-312%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$600K$400K$200K$0Assets 2011: $337,414Liabilities 2011: $21,766Net Assets 2011: $315,6482011Assets 2012: $371,684Liabilities 2012: $22,494Net Assets 2012: $349,1902012Assets 2013: $344,792Liabilities 2013: $3,481Net Assets 2013: $341,3112013Assets 2014: $349,202Liabilities 2014: $0Net Assets 2014: $349,2022014Assets 2015: $346,860Liabilities 2015: $378Net Assets 2015: $346,4822015Assets 2016: $372,350Liabilities 2016: $900Net Assets 2016: $371,4502016Assets 2017: $320,410Liabilities 2017: $1,853Net Assets 2017: $318,5572017Assets 2018: $327,865Liabilities 2018: $5,695Net Assets 2018: $322,1702018Assets 2019: $319,051Liabilities 2019: $1,318Net Assets 2019: $317,7332019Assets 2020: $449,942Liabilities 2020: $675Net Assets 2020: $449,2672020Assets 2021: $426,255Liabilities 2021: $1,707Net Assets 2021: $424,5482021Assets 2022: $474,490Liabilities 2022: $2,449Net Assets 2022: $472,0412022Assets 2023: $530,526Liabilities 2023: $3,637Net Assets 2023: $526,8892023Assets 2024: $582,548Liabilities 2024: $4,629Net Assets 2024: $577,9192024Assets 2025: $592,461Liabilities 2025: $5,439Net Assets 2025: $587,0222025

Highlighted filing

2017

Assets$320,410
Liabilities$1,853
Net Assets$318,557
Open 2017 Filing

Operations Trend

Revenue Growth22nd percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $348,618Expenses 2011: $313,685Net Income 2011: $34,9332011Revenue 2012: $316,779Expenses 2012: $283,237Net Income 2012: $33,5422012Revenue 2013: $371,154Expenses 2013: $402,073Net Income 2013: -$30,9192013Revenue 2014: $493,052Expenses 2014: $485,161Net Income 2014: $7,8912014Revenue 2015: $474,675Expenses 2015: $477,395Net Income 2015: -$2,7202015Revenue 2016: $458,421Expenses 2016: $433,453Net Income 2016: $24,9682016Revenue 2017: $392,216Expenses 2017: $445,109Net Income 2017: -$52,8932017Revenue 2018: $455,247Expenses 2018: $451,634Net Income 2018: $3,6132018Revenue 2019: $475,155Expenses 2019: $479,592Net Income 2019: -$4,4372019Revenue 2020: $472,543Expenses 2020: $341,009Net Income 2020: $131,5342020Revenue 2021: $451,062Expenses 2021: $475,781Net Income 2021: -$24,7192021Revenue 2022: $517,172Expenses 2022: $469,679Net Income 2022: $47,4932022Revenue 2023: $510,489Expenses 2023: $455,641Net Income 2023: $54,8482023Revenue 2024: $559,745Expenses 2024: $508,718Net Income 2024: $51,0272024Revenue 2025: $514,727Expenses 2025: $505,624Net Income 2025: $9,1032025

Highlighted filing

2017

Revenue$392,216
Expenses$445,109
Net Income-$52,893
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Aug 10, 2018
Return Version
2016v3.1
Gross Receipts
$392,216
Mission and Program Overview

Mission

The mississippi economic development council, inc.(medc) is a professional association of economic development, chambers and associated stakeholders who work together to advance the profession and to advance economic development efforts in mississippi through advocacy, collaboration, education and by providing resources to its members. Medc is the voice of the economic development profession in the state.

The medc serves as the voice for mississippi's economic/community development and chamber of commerce professionals and their constituencies. Through collaboration with other local, state and national entities, medc establishes and advocates mississippi's economic and community development agenda. We serve our members and this agenda by fostering a network of trained professionals and serving as the primary resource for information and strategies for economic and community development and the promotion of commerce. Our purpose is to improve mississippi's communities through development of their resources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$371,450$318,557▼ $52,893
Savings and Temporary Cash Investments$269,741$263,421▼ $6,320
Cash and Non-Interest-Bearing Accounts$100,307$55,489▼ $44,818
Land, Buildings, and Equipment, Net$2,302$1,500▼ $802
Total Assets$372,350$320,410▼ $51,940
Liabilities
Accounts Payable and Accrued Expenses$900$1,853▲ $953
Total Liabilities$900$1,853▲ $953
Net Assets / Fund Balance
Total Net Assets Fund Balance$371,450$318,557▼ $52,893
Total Liabilities and Net Assets / Fund Balance$372,350$320,410▼ $51,940

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,500$20,335$21,835
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary M SwoopeExecutive DiFT$79,770$4,434$84,204

Board Members and Trustees

NameTitle
Cary KarlsonPresident
Skip ScaggsPresident El
David RumbargerDirector Dis
Brenda LathanDirector- at
Brian UseforgeDirector- at
Angela CurryDirector-dis
Chandler RussDirector-dis
Christine PateDirector-dis
Craig HittDirector-dis
Lyn ArnoldDirector-dis
Taurus WrightDirector-dis
Valencia WilliamsonDirector-dis
Greg WordImmed Past P
Guy JohnsonSecretary/tr
Mandi ArinderVice Pres-ch
Allison BeasleyVice Pres-co
Mitch StringerVice Pres-ec
Curnis Upkins IiiVice Pres-em
Revenue and Support

Revenue Composition

Contributions and Grants
$263,164
Program Service Revenue
$128,533
Investment Income
$519
Other Revenue
$0
All Other Contributions
$190,675
Change in Net Assets
$-52,893

Audited Revenue Reconciliation

Revenue per Audited Statements
$392,216
Total Revenue per Audited Statements
$392,216
Total Revenue per Form 990
$392,216
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$261,202
Salaries, Compensation, and Employee Benefits$139,918
Grants and Similar Amounts Paid$43,989
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$213,450--$213,450
Current Officers, Directors, Trustees, and Key Employees-$79,770-$79,770
Grants to Domestic Orgs$43,989--$43,989
Other Salaries and Wages-$42,209-$42,209
Occupancy-$9,730-$9,730
Payroll Taxes-$9,617-$9,617
Travel-$8,673-$8,673
Other Employee Benefits-$8,322-$8,322
All Other Expenses-$5,917-$5,917
Office Expenses-$3,808-$3,808
Fees for Services Accounting-$3,750-$3,750
Other Expenses-$2,049-$2,049
Information Technology-$1,337-$1,337
Depreciation Depletion-$802-$802
Total Functional Expenses$257,439$187,670$0$445,109

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$445,109
Total Expenses per Audited Statements$445,109
Total Expenses per Form 990$445,109
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
Yes
Subject to proxy tax
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Memberships, held by individuals, require approval by a majority vote of the board of directors”

Form 990, Page 6, Part VI, Line 7A

“Board of directors elected by members”

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

“Form 990 reviewed by board of directors”

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

“Annual disclosures of "other interests" are required, president reviews disclosure forms and board of directors makes final determination of any corrective action”

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

“Executive committee approves all salaries”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Mississippi Economic Development
EIN
64-0684730
Phone
6013521909
Address
1675 LAKELAND DRIVE SUITE 502, JACKSON, MS 39216

Signing Officer

Name
Mary M Swoope
Title
Executive Director
Phone
6013521909
Signed
2018-08-10

Organization Details

Principal Officer
Mary M Swoope
Formed
1963
Legal Domicile
Ms
Voting Board Members
18
Independent Board Members
18
Employees
3

Preparer

Firm
Watkins Ward and Stafford Pllc
Address
1675 LAKELAND DRIVE SUITE 505, JACKSON, MS 39216
Preparer
Charles N Spain CPA
Phone
6019820010
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The medc serves as the voice for mississippi's economic/community development and chamber of commerce professionals and their constituencies. Through collaboration with other local, state and national entities, medc establishes and advocates mississippi's economic and community development agenda. We serve our members and this agenda by fostering a network of trained professionals and serving as the primary resource for information and strategies for economic and community development and the promotion of commerce. Our purpose is to improve mississippi's communities through development of their resources.”

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IRS990/MissionDesc0THE MEDC SERVES AS THE VOICE FOR MISSISSIPPI'S ECONOMIC/COMMUNITY DEVELOPMENT AND CHAMBER OF COMMERCE PROFESSIONALS AND THEIR CONSTITUENCIES. THROUGH COLLABORATION WITH OTHER LOCAL, STATE AND NATIONAL ENTITIES, MEDC ESTABLISHES AND ADVOCATES MISSISSIPPI'S ECONOMIC AND COMMUNITY DEVELOPMENT AGENDA. WE SERVE OUR MEMBERS AND THIS AGENDA BY FOSTERING A NETWORK OF TRAINED PROFESSIONALS AND SERVING AS THE PRIMARY RESOURCE FOR INFORMATION AND STRATEGIES FOR ECONOMIC AND COMMUNITY DEVELOPMENT AND THE PROMOTION OF COMMERCE. OUR PURPOSE IS TO IMPROVE MISSISSIPPI'S COMMUNITIES THROUGH DEVELOPMENT OF THEIR RESOURCES.
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IRS990/OtherExpensesGrp/Desc0MEETING EXPENSES
IRS990/OtherExpensesGrp/Desc1INSURANCE
IRS990/OtherExpensesGrp/Desc2PROFESSIONAL DEVELOPMENT
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13621
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23301
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IRS990/PrincipalOfficerNm0MARY M SWOOPE
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IRS990/ProgramServiceRevenueGrp/Desc22017 RFI TRAINING
IRS990/ProgramServiceRevenueGrp/Desc3M TO M SERIES INCOME
IRS990/ProgramServiceRevenueGrp/Desc4GLOBAL LAUNCH TRAINING
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt158779
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt158779
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31154
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4535
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IRS990/PYContributionsGrantsAmt0286679
IRS990/PYGrantsAndSimilarPaidAmt047485
IRS990/PYInvestmentIncomeAmt0834
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IRS990/PYRevenuesLessExpensesAmt024968
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IRS990/PYTotalRevenueAmt0458421
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IRS990ScheduleC/OnlyInHouseLobbyingInd0true
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt020335
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt021835
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MEDC SERVES AS THE VOICE FOR MISSISSIPPI'S ECONOMIC/COMMUNITY DEVELOPMENT AND CHAMBER OF COMMERCE PROFESSIONALS AND THEIR CONSTITUENCIES. THROUGH COLLABORATION WITH OTHER LOCAL, STATE AND NATIONAL ENTITIES, MEDC ESTABLISHES AND ADVOCATES MISSISSIPPI'S ECONOMIC AND COMMUNITY DEVELOPMENT AGENDA. WE SERVE OUR MEMBERS AND THIS AGENDA BY FOSTERING A NETWORK OF TRAINED PROFESSIONALS AND SERVING AS THE PRIMARY RESOURCE FOR INFORMATION AND STRATEGIES FOR ECONOMIC AND COMMUNITY DEVELOPMENT AND THE PROMOTION OF COMMERCE. OUR PURPOSE IS TO IMPROVE MISSISSIPPI'S COMMUNITIES THROUGH DEVELOPMENT OF THEIR RESOURCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERSHIPS, HELD BY INDIVIDUALS, REQUIRE APPROVAL BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD OF DIRECTORS ELECTED BY MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 REVIEWED BY BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANNUAL DISCLOSURES OF "OTHER INTERESTS" ARE REQUIRED, PRESIDENT REVIEWS DISCLOSURE FORMS AND BOARD OF DIRECTORS MAKES FINAL DETERMINATION OF ANY CORRECTIVE ACTION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EXECUTIVE COMMITTEE APPROVES ALL SALARIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalProgramServiceRevenueAmt0128533
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IRS990/USAddress/AddressLine1Txt01675 LAKELAND DRIVE SUITE 502
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$320,410
Liabilities
$1,853
Net assets
$318,557
Revenue
$392,216
Expenses
$445,109
Net income
-$52,893
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.92$0.05$5.87$5.15$5.06$0.09
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.83$0.05$5.78$5.60$5.09$0.51
2023Summary only. Only limited summary data is available for this year.$5.31$0.04$5.27$5.10$4.56$0.55
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.74$0.02$4.72$5.17$4.70$0.47
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.26$0.02$4.25$4.51$4.76$0.25
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.50$0.01$4.49$4.73$3.41$1.32
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.19$0.01$3.18$4.75$4.80$0.04
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.28$0.06$3.22$4.55$4.52$0.04
2017Detailed filing. Detailed filing data is available for this year.$3.20$0.02$3.19$3.92$4.45$0.53
2016Summary only. Only limited summary data is available for this year.$3.72$0.01$3.71$4.58$4.33$0.25
2015Detailed filing. Detailed filing data is available for this year.$3.47$0.00$3.46$4.75$4.77$0.03
2014Summary only. Only limited summary data is available for this year.$3.49$0.00$3.49$4.93$4.85$0.08
2013Summary only. Only limited summary data is available for this year.$3.45$0.03$3.41$3.71$4.02$0.31
2012Summary only. Only limited summary data is available for this year.$3.72$0.22$3.49$3.17$2.83$0.34
2011Summary only. Only limited summary data is available for this year.$3.37$0.22$3.16$3.49$3.14$0.35