Civic Intelligence

Jackson County Economic Development Foundation Inc.

990 • Fiscal year 2023 • EIN 64-0838516

Oct 01, 2022 to Sep 30, 2023 • Filed on Aug 15, 2024

Organization ProfileWWW.JCEDF.ORG

View Organization Page

PO Drawer 1558Pascagoula, MS 39568

(228) 769-6263

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.16x

Higher debt load relative to assets than 63% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

72nd percentile

0.29x

Higher debt load relative to revenue than 72% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

71st percentile

17%

Higher net margin than 71% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

97th percentile

$419,024

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 18.9% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

61st percentile

9.3%

Faster asset growth than 61% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

37th percentile

-0.5%

Faster revenue growth than 37% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$4,179,183

Up $354,112 (+9.3%) from 2022

Net Assets

Up

$3,527,055

Up $373,057 (+12%) from 2022

Liabilities

Down

$652,128

Down $18,945 (-2.8%) from 2022

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin71st percentile

Revenue

Down

$2,216,334

Down $10,775 (-0.5%) from 2022

Expenses

Down

$1,843,277

Down $886,465 (-32%) from 2022

Net Income

Up

$373,057

Up $875,690 (+174%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $3,799,504Liabilities 2010: $174,213Net Assets 2010: $3,625,2912010Assets 2011: $3,069,047Liabilities 2011: $179,249Net Assets 2011: $2,889,7982011Assets 2012: $4,552,203Liabilities 2012: $164,675Net Assets 2012: $4,387,5282012Assets 2013: $4,395,082Liabilities 2013: $76,513Net Assets 2013: $4,318,5692013Assets 2014: $3,715,313Liabilities 2014: $70,625Net Assets 2014: $3,644,6882014Assets 2015: $3,471,688Liabilities 2015: $74,998Net Assets 2015: $3,396,6902015Assets 2016: $3,148,242Liabilities 2016: $117,786Net Assets 2016: $3,030,4562016Assets 2017: $3,173,781Liabilities 2017: $86,413Net Assets 2017: $3,087,3682017Assets 2018: $4,551,237Liabilities 2018: $140,204Net Assets 2018: $4,411,0332018Assets 2019: $4,458,426Liabilities 2019: $203,008Net Assets 2019: $4,255,4182019Assets 2020: $4,080,202Liabilities 2020: $99,720Net Assets 2020: $3,980,4822020Assets 2021: $3,810,649Liabilities 2021: $146,868Net Assets 2021: $3,663,7812021Assets 2022: $3,825,071Liabilities 2022: $671,073Net Assets 2022: $3,153,9982022Assets 2023: $4,179,183Liabilities 2023: $652,128Net Assets 2023: $3,527,0552023Assets 2024: $4,807,913Liabilities 2024: $1,235,424Net Assets 2024: $3,572,4892024

Highlighted filing

2023

Assets$4,179,183
Liabilities$652,128
Net Assets$3,527,055
Open 2023 Filing

Operations Trend

Revenue Growth37th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,168,2622010Expenses 2011: $1,277,7312011Expenses 2012: $1,374,7232012Revenue 2013: $1,157,407Expenses 2013: $1,293,324Net Income 2013: -$135,9172013Revenue 2014: $476,450Expenses 2014: $1,176,639Net Income 2014: -$700,1892014Revenue 2015: $1,119,545Expenses 2015: $1,397,104Net Income 2015: -$277,5592015Revenue 2016: $821,134Expenses 2016: $1,218,791Net Income 2016: -$397,6572016Revenue 2017: $1,374,716Expenses 2017: $1,307,539Net Income 2017: $67,1772017Revenue 2018: $2,772,948Expenses 2018: $1,451,810Net Income 2018: $1,321,1382018Revenue 2019: $1,531,999Expenses 2019: $1,676,705Net Income 2019: -$144,7062019Revenue 2020: $1,141,126Expenses 2020: $1,433,926Net Income 2020: -$292,8002020Revenue 2021: $1,167,595Expenses 2021: $1,479,591Net Income 2021: -$311,9962021Revenue 2022: $2,227,109Expenses 2022: $2,729,742Net Income 2022: -$502,6332022Revenue 2023: $2,216,334Expenses 2023: $1,843,277Net Income 2023: $373,0572023Revenue 2024: $2,067,099Expenses 2024: $2,021,665Net Income 2024: $45,4342024

Highlighted filing

2023

Revenue$2,216,334
Expenses$1,843,277
Net Income$373,057
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Aug 15, 2024
Return Version
2022v5.0
Gross Receipts
$2,216,334
Mission and Program Overview

Mission

Improving the economic development opportunities of jackson county, mississippi by unifying planning, economic & industrial development, and marketing activities in the county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,710,191$2,597,284▼ $112,907
Savings and Temporary Cash Investments$655,689$691,202▲ $35,513
Pledges and Grants Receivable$49,227$443,848▲ $394,621
Accounts Receivable$272,901$341,212▲ $68,311
Land, Buildings, and Equipment, Net$137,063$105,637▼ $31,426
Total Assets$3,825,071$4,179,183▲ $354,112
Liabilities
Other Liabilities$614,227$601,665▼ $12,562
Accounts Payable and Accrued Expenses$56,846$50,463▼ $6,383
Total Liabilities$671,073$652,128▼ $18,945
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,774,800$2,029,803▲ $255,003
Net Assets Without Donor Restrictions$1,379,198$1,497,252▲ $118,054
Total Net Assets Fund Balance$3,153,998$3,527,055▲ $373,057
Total Liabilities and Net Assets / Fund Balance$3,825,071$4,179,183▲ $354,112

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$90,414$249,727$340,141
Equipment-$66,099$66,099
Leasehold Improvements$15,223$6,577$21,800
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
George L Freeland JrCEOFT$380,137$38,887$419,024
Mary Martha HensonDeputy DirecFT$229,942$8,280$238,222
Mary Martha HensonDeputy Director-$229,942$8,280$238,222

Board Members and Trustees

NameTitle
Royce CumbestChairman
Barry CumbestBoard Member
Billy KnightBoard Member
Brian HugheyBoard Member
Casey VaughanBoard Member
Cynthia StrunkBoard Member
Greg WilliamsBoard Member
Hank TorjesonBoard Member
Jay WillisBoard Member
Kari WilkinsonBoard Member
Kenny HollowayBoard Member
Marissa JacksonBoard Member
Randy BosargeBoard Member
Tim PotterBoard Member
Greg CroninSecretary/tr
JERRY STPE'Vice Charima
Revenue and Support

Revenue Composition

Contributions and Grants
$2,180,539
Program Service Revenue
$0
Investment Income
$35,795
Other Revenue
$0
All Other Contributions
$1,135,247
Change in Net Assets
$373,057

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$30,000
Total Noncash Contributions1$30,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,216,334
Total Revenue per Audited Statements
$2,216,334
Total Revenue per Form 990
$2,216,334
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,059,767
Salaries, Compensation, and Employee Benefits$783,510
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$555,172$54,907-$610,079
Advertising$118,975--$118,975
Conferences and Meetings$75,747--$75,747
Other Salaries and Wages$65,020$6,431-$71,451
Fees for Services Lobbying$60,000--$60,000
Fees for Services Other$50,298--$50,298
Fees for Services Accounting$42,501$4,722-$47,223
Office Expenses$34,877$8,719-$43,596
Other Employee Benefits$39,113$3,869-$42,982
Payroll Taxes$30,972$3,063-$34,035
Travel$31,970--$31,970
Depreciation Depletion$25,138$6,288-$31,426
Occupancy-$30,000-$30,000
Pension Plan Contributions$22,716$2,247-$24,963
Information Technology$16,913$4,228-$21,141
Insurance-$18,164-$18,164
Other Expenses$17,428--$17,428
Fees for Services Legal$6,938$771-$7,709
All Other Expenses$7,442--$7,442
Total Functional Expenses$1,699,868$143,409$0$1,843,277

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,843,277
Total Expenses per Audited Statements$1,843,277
Total Expenses per Form 990$1,843,277
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Income$500,000
Payroll Liabilities$101,195
Other$470
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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 11B

“The return is reviewed by the finance committee”

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

“Annually the executive committee meets to discuss and determine any changes to the employment agreement of the ceo. The executive committee consists of: chairman, vice chairman, previous chairman and secretary/treasurer of the board. This process includes but is not limited to; comparable compensation data for similarly qualified persons for the same type organization; input from foundation's attorney addressing any employment agreement issues; the discussion and final decisions are noted and documented in the executive committee files. All final deisions are then presented to the full board of directors for approval.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Jackson County Economic Development
EIN
64-0838516
Phone
2287696263
Address
PO DRAWER 1558, PASCAGOULA, MS 39568

Signing Officer

Name
George L Freeland Jr
Title
CEO
Phone
2288186120
Signed
2024-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George L Freeland Jr
Formed
1993
Legal Domicile
Ms
Voting Board Members
16
Independent Board Members
16
Employees
3

Preparer

Firm
Rebecca F Hennessey CPA
Address
PO BOX 808, OCEAN SPRINGS, MS 39566-0808
Preparer
Rebecca F Hennessey CPA
Phone
2288186120
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“COMPENSATED ABSENCES 0”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“COMPENSATED ABSENCES 0”

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IRS990/PrincipalOfficerNm0GEORGE L FREELAND JR
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION DID NOT INCURE LOBBYING EXPENSES PRIOR TO FISACAL YEAR ENDING 9/30/17
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt1TO LOBBY BEFORE THE STATE & FEDERAL GOVERNMENT TO PURSE FUNDING & OTHER SUPPORT FOR THE FOUNDATION'S EFFORTS OF INFRASTRUCTURE PRIORITIES, FEDERAL AFFAIRS SUPPORTS, AND FLY-IN SUPPORT.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART II-A
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0COMPENSATED ABSENCES 0
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,179,183
Liabilities
$652,128
Net assets
$3,527,055
Revenue
$2,216,334
Expenses
$1,843,277
Net income
$373,057
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.81$1.24$3.57$2.07$2.02$0.05
2023Detailed filing. Detailed filing data is available for this year.$4.18$0.65$3.53$2.22$1.84$0.37
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.83$0.67$3.15$2.23$2.73$0.50
2021Detailed filing. Detailed filing data is available for this year.$3.81$0.15$3.66$1.17$1.48$0.31
2020Detailed filing. Detailed filing data is available for this year.$4.08$0.10$3.98$1.14$1.43$0.29
2019Detailed filing. Detailed filing data is available for this year.$4.46$0.20$4.26$1.53$1.68$0.14
2018Detailed filing. Detailed filing data is available for this year.$4.55$0.14$4.41$2.77$1.45$1.32
2017Detailed filing. Detailed filing data is available for this year.$3.17$0.09$3.09$1.37$1.31$0.07
2016Detailed filing. Detailed filing data is available for this year.$3.15$0.12$3.03$0.82$1.22$0.40
2015Detailed filing. Detailed filing data is available for this year.$3.47$0.07$3.40$1.12$1.40$0.28
2014Detailed filing. Detailed filing data is available for this year.$3.72$0.07$3.64$0.48$1.18$0.70
2013Summary only. Only limited summary data is available for this year.$4.40$0.08$4.32$1.16$1.29$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.55$0.16$4.39$1.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.07$0.18$2.89$1.28
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.80$0.17$3.63$1.17