Civic Intelligence

Mississippi Economic Development

990 • Fiscal year 2015 • EIN 64-0684730

Oct 01, 2014 to Sep 30, 2015 • Filed on Feb 06, 2016

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

48th percentile

0.00x

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

2015 filings • 501(c)6 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

48th percentile

0.00x

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

2015 filings • 501(c)6 • <$500k nonprofits • Source year 2015

Net Margin

39th percentile

-0.6%

Higher net margin than 39% of similar nonprofits.

2015 filings • 501(c)6 • <$500k nonprofits • Source year 2015

Top Officer Pay

97th percentile

$114,438

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 24.1% of source-year revenue.

2015 filings • 501(c)6 • <$500k nonprofits • Source year 2015

Asset Growth

42nd percentile

-0.7%

Faster asset growth than 42% of similar nonprofits.

2015 filings • 501(c)6 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

39th percentile

-3.7%

Faster revenue growth than 39% of similar nonprofits.

2015 filings • 501(c)6 • <$500k nonprofits • Annualized from 2014 to 2015

Assets

Down

$346,860

Down $2,342 (-0.7%) from 2014

Net Assets

Down

$346,482

Down $2,720 (-0.8%) from 2014

Liabilities

Up

$378

Up $378 from 2014

Revenue

Down

$474,675

Down $18,377 (-3.7%) from 2014

Expenses

Down

$477,395

Down $7,766 (-1.6%) from 2014

Net Income

Down

-$2,720

Down $10,611 (-134%) from 2014

Historical Trend

Balance Sheet Trend

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

2015

Assets$346,860
Liabilities$378
Net Assets$346,482

Operations Trend

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

2015

Revenue$474,675
Expenses$477,395
Net Income-$2,720
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Feb 6, 2016
Return Version
2014v6.0
Gross Receipts
$474,675
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$349,202$346,482▼ $2,720
Savings and Temporary Cash Investments$246,484$251,178▲ $4,694
Cash and Non-Interest-Bearing Accounts$95,910$93,200▼ $2,710
Prepaid Expenses and Deferred Charges$3,033--
Land, Buildings, and Equipment, Net$3,775$2,482▼ $1,293
Total Assets$349,202$346,860▼ $2,342
Liabilities
Accounts Payable and Accrued Expenses-$378-
Total Liabilities$0$378▲ $378
Net Assets / Fund Balance
Total Net Assets Fund Balance$349,202$346,482▼ $2,720
Total Liabilities and Net Assets / Fund Balance$349,202$346,860▼ $2,342

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,482$18,031$20,513
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary Martha HensonExecutive DiFT$107,752$6,686$114,438
Mary Martha HensonExecutive Director-$107,752$6,686$114,438

Board Members and Trustees

NameTitle
Chad NewellPresident
Greg WordPresident-el
Brenda LathanDirector- at
Brian UseforgeDirector- at
Cary KarlsonDirector-dis
Christine PateDirector-dis
Craig HittDirector-dis
Garrick CombsDirector-dis
Gary ChandlerDirector-dis
Larkin SimpsonDirector-dis
Taurus WrightDirector-dis
Tim ClimerDirector-dis
Shane HomanPast Preside
Guy JohnsonSecretary/tr
Debbie HudsonVice Pres-ch
Joy FoyVice Pres-co
Ashley EdwardsVice Pres-ec
Curnis Upkins IiiVice Pres-yo
Revenue and Support

Revenue Composition

Contributions and Grants
$250,466
Program Service Revenue
$223,627
Investment Income
$582
Other Revenue
$0
All Other Contributions
$168,618
Change in Net Assets
$-2,720
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$292,042
Salaries, Compensation, and Employee Benefits$155,803
Grants and Similar Amounts Paid$29,550
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$236,914--$236,914
Comp Disqual Persons-$107,752-$107,752
Other Salaries and Wages-$40,403-$40,403
Grants to Domestic Orgs$29,550--$29,550
Travel-$11,261-$11,261
Advertising-$9,219-$9,219
Occupancy-$8,650-$8,650
Other Employee Benefits-$7,648-$7,648
All Other Expenses-$7,059-$7,059
Office Expenses-$3,304-$3,304
Other Expenses-$2,650-$2,650
Depreciation Depletion-$1,292-$1,292
Fees for Services Accounting-$1,200-$1,200
Information Technology-$240-$240
Total Functional Expenses$266,464$210,931$0$477,395
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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
Ms Economic Development Council Inc
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
2016-02-06

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
PO BOX 13093, JACKSON, MS 39236
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/NoListedPersonsCompensatedInd0X
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IRS990/NondeductibleContriDisclInd0true
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt07648
IRS990/OtherEmployeeBenefitsGrp/TotalAmt07648
IRS990/OtherExpensesGrp/Desc0BOARD OF DIRECTORS
IRS990/OtherExpensesGrp/Desc1INSURANCE
IRS990/OtherExpensesGrp/Desc2MEMBERSHIP DIRECTORY
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL SERVICES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03580
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13494
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23179
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IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrincipalOfficerNm0MARY M SWOOPE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0SUMMER CONF 2015-CONFERENCE R
IRS990/ProgramServiceRevenueGrp/Desc1WINTER CONF 2015-CONFERENCE R
IRS990/ProgramServiceRevenueGrp/Desc2SUMMER CONF 2015
IRS990/ProgramServiceRevenueGrp/Desc3COMPETITIVENESS STUDY
IRS990/ProgramServiceRevenueGrp/Desc4SUMMER CONF 2015-ACTIVITY
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt168131
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt264754
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt168131
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt264754
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt37202
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt43899
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0310202
IRS990/PYGrantsAndSimilarPaidAmt032581
IRS990/PYInvestmentIncomeAmt0672
IRS990/PYOtherExpensesAmt0297713
IRS990/PYProgramServiceRevenueAmt0182178
IRS990/PYRevenuesLessExpensesAmt07891
IRS990/PYSalariesCompEmpBnftPaidAmt0154867
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IRS990/PYTotalRevenueAmt0493052
IRS990/ReconcilationRevenueExpnssAmt0-2720
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0349202
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0346482
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0246484
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleC/OnlyInHouseLobbyingInd0true
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02482
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt018031
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt020513
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02482
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0107752
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt06686
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MARY MARTHA HENSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0114438
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
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/SubjectToProxyTaxInd0true
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt03
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0266464
IRS990/TotalFunctionalExpensesGrp/TotalAmt0477395
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IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt011276
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IRS990/TotalProgramServiceRevenueAmt0223627
IRS990/TotalReportableCompFromOrgAmt0107752
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0474675
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0349202
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IRS990/TravelGrp/ManagementAndGeneralAmt011261
IRS990/TravelGrp/TotalAmt011261
IRS990/TypeOfOrganizationCorpInd0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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
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