Civic Intelligence

Mississippi Economic Development

990 • Fiscal year 2021 • EIN 64-0684730

Oct 01, 2020 to Sep 30, 2021 • Filed on Aug 12, 2022

Organization ProfileWWW.MEDC.MS
PO Box 1637Jackson, MS 39215-1637

(601) 352-1909

Siviq Scores

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

Liabilities / Assets

49th percentile

0.00x

Higher debt load relative to assets than 49% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

48th percentile

0.00x

Higher debt load relative to revenue than 48% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

28th percentile

-5.5%

Higher net margin than 28% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

90th percentile

$65,355

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

28th percentile

-5.3%

Faster asset growth than 28% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

40th percentile

-4.5%

Faster revenue growth than 40% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets49th percentile

Assets

Down

$426,255

Down $23,687 (-5.3%) from 2020

Net Assets

Down

$424,548

Down $24,719 (-5.5%) from 2020

Liabilities

Up

$1,707

Up $1,032 (+153%) from 2020

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin28th percentile

Revenue

Down

$451,062

Down $21,481 (-4.5%) from 2020

Expenses

Up

$475,781

Up $134,772 (+40%) from 2020

Net Income

Down

-$24,719

Down $156,253 (-119%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth28th 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

2021

Assets$426,255
Liabilities$1,707
Net Assets$424,548
Open 2021 Filing

Operations Trend

Revenue Growth40th 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

2021

Revenue$451,062
Expenses$475,781
Net Income-$24,719
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Aug 12, 2022
Return Version
2020v4.0
Gross Receipts
$451,062
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$449,267$424,548▼ $24,719
Savings and Temporary Cash Investments$388,215$293,176▼ $95,039
Cash and Non-Interest-Bearing Accounts$61,688$133,079▲ $71,391
Land, Buildings, and Equipment, Net$39--
Total Assets$449,942$426,255▼ $23,687
Liabilities
Accounts Payable and Accrued Expenses$675$1,707▲ $1,032
Total Liabilities$675$1,707▲ $1,032
Net Assets / Fund Balance
Total Net Assets Fund Balance$449,267$424,548▼ $24,719
Total Liabilities and Net Assets / Fund Balance$449,942$426,255▼ $23,687

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$21,835$21,835
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Gwen HowardExecutive DiFT$65,355$65,355

Board Members and Trustees

NameTitle
Mitch StringerPresident
Pablo DiazPresident El
Chelsea BaulchDirector Dis
Brian UseforgeDirector- at
Ed GardnerDirector- at
Angela CurryDirector-dis
Britt HerrinDirector-dis
Glen HaabDirector-dis
Janel CarothersDirector-dis
Jill BusbyDirector-dis
Joey DeasonDirector-dis
Todd JacksonDirector-dis
Chandler RussImmed Past P
Lori WattsSecretary/tr
Beth StevensVice Pres-ch
Jon MaynardVice Pres-co
Clayton StanleyVice Pres-ec
Hunter AycockVice Pres-em
Revenue and Support

Revenue Composition

Contributions and Grants
$251,042
Program Service Revenue
$166,898
Investment Income
$477
Other Revenue
$32,645
All Other Contributions
$169,889
Change in Net Assets
$-24,719
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$344,169
Salaries, Compensation, and Employee Benefits$118,517
Grants and Similar Amounts Paid$13,095
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$295,524--$295,524
Current Officers, Directors, Trustees, and Key Employees-$63,355-$63,355
Other Salaries and Wages-$39,375-$39,375
Grants to Domestic Orgs$13,095--$13,095
Fees for Services Accounting-$8,370-$8,370
Other Employee Benefits-$7,918-$7,918
Payroll Taxes-$7,869-$7,869
All Other Expenses-$6,492-$6,492
Occupancy-$4,890-$4,890
Office Expenses-$4,087-$4,087
Insurance-$3,707-$3,707
Advertising-$3,144-$3,144
Information Technology-$2,575-$2,575
Other Expenses-$2,066-$2,066
Travel-$2,039-$2,039
Depreciation Depletion-$38-$38
Total Functional Expenses$308,619$167,162$0$475,781
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
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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
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
PO BOX 1637, JACKSON, MS 39215-1637

Signing Officer

Name
Gwen Howard
Title
Executive Director
Phone
6013521909
Signed
2022-08-12

Organization Details

Principal Officer
Gwen Howard
Formed
1963
Legal Domicile
Ms
Voting Board Members
24
Independent Board Members
24
Employees
2

Preparer

Firm
Watkins Ward and Stafford Pllc
Address
105 WEST WASHINGTON STREET A1, RIDGELAND, MS 39157
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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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/USAddress/CityNm0JACKSON
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0GWEN HOWARD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06013521909
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-08-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MISSISSIPPI ECONOMIC DEVELOPMENT
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ReturnHeader/Filer/PhoneNum06013521909
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0640394922
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WATKINS WARD AND STAFFORD PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0105 WEST WASHINGTON STREET A1
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RIDGELAND
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$426,255
Liabilities
$1,707
Net assets
$424,548
Revenue
$451,062
Expenses
$475,781
Net income
-$24,719
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
2021Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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