Civic Intelligence

MID-South Housing Foundation

990 • Fiscal year 2017 • EIN 72-1380444

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 07, 2018

Organization ProfileN/A
2330 University AvenueOxford, MS 38655

(662) 236-5080

Siviq Scores

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

Liabilities / Assets

46th percentile

0.17x

Higher debt load relative to assets than 46% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

95th percentile

6.97x

Higher debt load relative to revenue than 95% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

95th percentile

67%

Higher net margin than 95% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

13th percentile

$25,000

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

40th percentile

1.9%

Faster asset growth than 40% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

4th percentile

-49%

Faster revenue growth than 4% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$23,256,136

Up $425,588 (+1.9%) from 2016

Net Assets

Up

$19,191,780

Up $388,587 (+2.1%) from 2016

Liabilities

Up

$4,064,356

Up $37,001 (+0.9%) from 2016

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin95th percentile

Revenue

Down

$583,327

Down $551,576 (-49%) from 2016

Expenses

Down

$194,740

Down $6,723 (-3.3%) from 2016

Net Income

Down

$388,587

Down $544,853 (-58%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$30M$20M$10M$0Assets 2010: $14,546,273Liabilities 2010: $487,500Net Assets 2010: $14,058,7732010Assets 2011: $15,329,621Liabilities 2011: $525,000Net Assets 2011: $14,804,6212011Assets 2012: $19,204,876Liabilities 2012: $3,684,810Net Assets 2012: $15,520,0662012Assets 2013: $20,149,912Liabilities 2013: $3,916,756Net Assets 2013: $16,233,1562013Assets 2014: $20,913,587Liabilities 2014: $3,951,856Net Assets 2014: $16,961,7312014Assets 2015: $21,690,339Liabilities 2015: $3,989,356Net Assets 2015: $17,700,9832015Assets 2016: $22,830,548Liabilities 2016: $4,027,355Net Assets 2016: $18,803,1932016Assets 2017: $23,256,136Liabilities 2017: $4,064,356Net Assets 2017: $19,191,7802017Assets 2018: $25,033,125Liabilities 2018: $3,573,230Net Assets 2018: $21,459,8952018Assets 2019: $25,569,773Liabilities 2019: $3,389,356Net Assets 2019: $22,180,4172019Assets 2020: $26,507,382Liabilities 2020: $112,500Net Assets 2020: $26,394,8822020Assets 2021: $26,795,271Liabilities 2021: $25,000Net Assets 2021: $26,770,2712021Assets 2022: $27,150,394Liabilities 2022: $62,500Net Assets 2022: $27,087,8942022Assets 2023: $27,227,591Liabilities 2023: $109,732Net Assets 2023: $27,117,8592023Assets 2024: $27,054,948Liabilities 2024: $74,196Net Assets 2024: $26,980,7522024

Highlighted filing

2017

Assets$23,256,136
Liabilities$4,064,356
Net Assets$19,191,780
Open 2017 Filing

Operations Trend

Revenue Growth4th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $71,8352010Expenses 2011: $58,5832011Revenue 2012: $773,375Expenses 2012: $57,930Net Income 2012: $715,4452012Revenue 2013: $771,374Expenses 2013: $58,284Net Income 2013: $713,0902013Revenue 2014: $785,376Expenses 2014: $56,801Net Income 2014: $728,5752014Revenue 2015: $803,319Expenses 2015: $64,067Net Income 2015: $739,2522015Revenue 2016: $1,134,903Expenses 2016: $201,463Net Income 2016: $933,4402016Revenue 2017: $583,327Expenses 2017: $194,740Net Income 2017: $388,5872017Revenue 2018: $1,023,130Expenses 2018: $187,172Net Income 2018: $835,9582018Revenue 2019: $812,019Expenses 2019: $91,497Net Income 2019: $720,5222019Revenue 2020: $4,275,512Expenses 2020: $61,047Net Income 2020: $4,214,4652020Revenue 2021: $448,331Expenses 2021: $72,942Net Income 2021: $375,3892021Revenue 2022: $391,180Expenses 2022: $73,557Net Income 2022: $317,6232022Revenue 2023: $200,095Expenses 2023: $170,130Net Income 2023: $29,9652023Revenue 2024: $0Expenses 2024: $200,503Net Income 2024: -$200,5032024

Highlighted filing

2017

Revenue$583,327
Expenses$194,740
Net Income$388,587
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 7, 2018
Return Version
2017v2.3
Gross Receipts
$583,327
Mission and Program Overview

Mission

To engage in the development, financing, construction, renovation, rehabilitation, management, and otherwise providing for and fostering low and moderate income housing in mississippi.

Providing permanent financing sources for developers of affordable housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$9,775,734$10,223,548▲ $447,814
Cash and Non-Interest-Bearing Accounts$74,877$18,729▼ $56,148
Accounts Receivable$12,000$12,000→ $0
Total Assets$22,830,548$23,256,136▲ $425,588
Other Assets Total$12,967,937$13,001,859▲ $33,922
Liabilities
Grants Payable$3,314,356$3,314,356→ $0
Other Liabilities$712,500$750,000▲ $37,500
Accounts Payable and Accrued Expenses$499--
Total Liabilities$4,027,355$4,064,356▲ $37,001
Net Assets / Fund Balance
Unrestricted Net Assets$18,803,193$19,191,780▲ $388,587
Total Net Assets Fund Balance$18,803,193$19,191,780▲ $388,587
Total Liabilities and Net Assets / Fund Balance$22,830,548$23,256,136▲ $425,588

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$4,678,964--
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Clarence W ChapmanPresidentPT$25,000$25,000
Clarence C Chapman JrSecretary-$12,500$12,500

Board Members and Trustees

NameTitle
Charles McclellandDirector
John ChapmanDirector
Sally ShyDirector
John SchmidtTreasurer
Larry HaynesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,589
Program Service Revenue
$471,806
Investment Income
$108,932
Other Revenue
$0
All Other Contributions
$2,589
Change in Net Assets
$388,587

Audited Revenue Reconciliation

Revenue per Audited Statements
$583,327
Total Revenue per Audited Statements
$583,327
Total Revenue per Form 990
$583,327
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$181,436
Other Expenses$13,304
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$143,936-$143,936
Current Officers, Directors, Trustees, and Key Employees-$37,500-$37,500
Travel-$3,595-$3,595
Fees for Services Other-$3,106-$3,106
Office Expenses-$2,279-$2,279
Advertising-$1,750-$1,750
Fees for Services Accounting-$1,575-$1,575
Other Expenses-$999-$999
Total Functional Expenses$0$194,740$0$194,740

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$194,740
Total Expenses per Audited Statements$194,740
Total Expenses per Form 990$194,740
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
Deferred Compensation Payable$750,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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, Part VI

“Larry haynes has been a housing co-developer with the chapman board members in the past. Eddie crawford is deceased.”

Form 990, Page 6, Part VI, Line 2

“Mid-south housing foundation mid-south housing foundation president secretary father/son mid-south housing foundation mid-south housing foundation president director father/son mid-south housing foundation mid-south housing foundation secretary director brothers”

Form 990, Page 6, Part VI, Line 9

“Larry haynes 10550 hwy. 322 bellview road clarksdale, ms 38614 john schmidt 4 east second street clarksdale, ms 38614-8614 charles mcclelland 6252 winthrop circle jackson, ms 39206 sally shy 585 s. Greer, apt 203 memphis, tn 38111”

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

“The tax return was reviewed by the officers prior to filing and will be reviewed by the entire board of directors at it's next regular meeting.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy and financial statements are available at the organization's office upon request.”

Filing and Contact Details

Filer

Filer Name
Mid-south Housing Foundation
EIN
72-1380444
Phone
6622365080
Address
2330 UNIVERSITY AVENUE, OXFORD, MS 38655

Signing Officer

Name
Clarence W Chapman
Title
President
Phone
6622365080
Signed
2018-08-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Clarence W Chapman
Formed
1997
Legal Domicile
Ms
Voting Board Members
7
Independent Board Members
7
Employees
4

Preparer

Firm
Cone & Smith Pc
Address
106 RAINBOW INDUSTRIAL BLVD, RAINBOW CITY, AL 35906-8901
Preparer
David a Smith CPA
Phone
2564133057
Raw XML Appendix335 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LARRY HAYNES HAS BEEN A HOUSING CO-DEVELOPER WITH THE CHAPMAN BOARD MEMBERS IN THE PAST. EDDIE CRAWFORD IS DECEASED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MID-SOUTH HOUSING FOUNDATION MID-SOUTH HOUSING FOUNDATION PRESIDENT SECRETARY FATHER/SON MID-SOUTH HOUSING FOUNDATION MID-SOUTH HOUSING FOUNDATION PRESIDENT DIRECTOR FATHER/SON MID-SOUTH HOUSING FOUNDATION MID-SOUTH HOUSING FOUNDATION SECRETARY DIRECTOR BROTHERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LARRY HAYNES 10550 HWY. 322 BELLVIEW ROAD CLARKSDALE, MS 38614 JOHN SCHMIDT 4 EAST SECOND STREET CLARKSDALE, MS 38614-8614 CHARLES MCCLELLAND 6252 WINTHROP CIRCLE JACKSON, MS 39206 SALLY SHY 585 S. GREER, APT 203 MEMPHIS, TN 38111
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TAX RETURN WAS REVIEWED BY THE OFFICERS PRIOR TO FILING AND WILL BE REVIEWED BY THE ENTIRE BOARD OF DIRECTORS AT IT'S NEXT REGULAR MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE ORGANIZATION'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/PersonNm0CLARENCE W CHAPMAN
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ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-07
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ReturnHeader/FilingSecurityInformation/IPDt02018-08-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:30:25
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0631223562
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CONE & SMITH PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0106 RAINBOW INDUSTRIAL BLVD
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ReturnHeader/PreparerPersonGrp/PreparationDt02018-08-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A SMITH CPA
ReturnHeader/ReturnTs02018-08-07T10:30:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$23,256,136
Liabilities
$4,064,356
Net assets
$19,191,780
Revenue
$583,327
Expenses
$194,740
Net income
$388,587
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.1$0.07$27.0$0.00$0.20$0.20
2023Detailed filing. Detailed filing data is available for this year.$27.2$0.11$27.1$0.20$0.17$0.03
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.2$0.06$27.1$0.39$0.07$0.32
2021Detailed filing. Detailed filing data is available for this year.$26.8$0.03$26.8$0.45$0.07$0.38
2020Detailed filing. Detailed filing data is available for this year.$26.5$0.11$26.4$4.28$0.06$4.21
2019Detailed filing. Detailed filing data is available for this year.$25.6$3.39$22.2$0.81$0.09$0.72
2018Detailed filing. Detailed filing data is available for this year.$25.0$3.57$21.5$1.02$0.19$0.84
2017Detailed filing. Detailed filing data is available for this year.$23.3$4.06$19.2$0.58$0.19$0.39
2016Detailed filing. Detailed filing data is available for this year.$22.8$4.03$18.8$1.13$0.20$0.93
2015Detailed filing. Detailed filing data is available for this year.$21.7$3.99$17.7$0.80$0.06$0.74
2014Detailed filing. Detailed filing data is available for this year.$20.9$3.95$17.0$0.79$0.06$0.73
2013Detailed filing. Detailed filing data is available for this year.$20.1$3.92$16.2$0.77$0.06$0.71
2012Summary only. Only limited summary data is available for this year.$19.2$3.68$15.5$0.77$0.06$0.72
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.3$0.53$14.8$0.06
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.5$0.49$14.1$0.07