Civic Intelligence

Higher Purpose Co

990 • Fiscal year 2021 • EIN 82-1629178

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization Profilewww.higherpurposeco.org
130 Desoto Ave Suite 10Clarksdale, MS 38614

(662) 592-5262

Siviq Scores

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

Liabilities / Assets

21st percentile

0.00x

Higher debt load relative to assets than 21% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

19th percentile

0.00x

Higher debt load relative to revenue than 19% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

68th percentile

25%

Higher net margin than 68% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

57th percentile

$72,031

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

30th percentile

1.1%

Faster asset growth than 30% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

9th percentile

-32%

Faster revenue growth than 9% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$2,003,170

Up $22,616 (+1.1%) from 2020

Net Assets

Up

$2,000,601

Up $20,047 (+1.0%) from 2020

Liabilities

Up

$2,569

Up $2,569 from 2020

Revenue And Expenses
Liabilities / Revenue19th percentileNet Margin68th percentile

Revenue

Down

$1,518,587

Down $708,248 (-32%) from 2020

Expenses

Down

$1,140,551

Down $219,793 (-16%) from 2020

Net Income

Down

$378,036

Down $488,455 (-56%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$3.0M$2.0M$1.0M$0Assets 2019: $1,200,735Liabilities 2019: $14,103Net Assets 2019: $1,186,6322019Assets 2020: $1,980,554Liabilities 2020: $0Net Assets 2020: $1,980,5542020Assets 2021: $2,003,170Liabilities 2021: $2,569Net Assets 2021: $2,000,6012021Assets 2022: $1,817,362Liabilities 2022: $43,675Net Assets 2022: $1,773,6872022Assets 2023: $1,289,223Liabilities 2023: $19,951Net Assets 2023: $1,269,2722023Assets 2024: $739,719Liabilities 2024: $69,190Net Assets 2024: $670,5292024

Highlighted filing

2021

Assets$2,003,170
Liabilities$2,569
Net Assets$2,000,601
Open 2021 Filing

Operations Trend

Revenue Growth9th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $1,522,645Expenses 2019: $349,152Net Income 2019: $1,173,4932019Revenue 2020: $2,226,835Expenses 2020: $1,360,344Net Income 2020: $866,4912020Revenue 2021: $1,518,587Expenses 2021: $1,140,551Net Income 2021: $378,0362021Revenue 2022: $864,131Expenses 2022: $1,065,452Net Income 2022: -$201,3212022Revenue 2023: $1,823,132Expenses 2023: $2,591,129Net Income 2023: -$767,9972023Revenue 2024: $1,806,637Expenses 2024: $2,397,717Net Income 2024: -$591,0802024

Highlighted filing

2021

Revenue$1,518,587
Expenses$1,140,551
Net Income$378,036
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.1
Gross Receipts
$1,518,587
Mission and Program Overview

Mission

Building community wealth with Black residents in Mississippi by supporting the ownership of financial, cultural, and political power, using an integrated model of business ownership, narrative change, and advocacy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,442,265$1,575,966▲ $133,701
Accounts Receivable-$250,000-
Land, Buildings, and Equipment, Net$180,300$169,713▼ $10,587
Prepaid Expenses and Deferred Charges-$7,490-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,622,565$2,003,170▲ $380,605
Other Assets Total-$1-
Liabilities
Accounts Payable and Accrued Expenses-$2,569-
Total Liabilities$0$2,569▲ $2,569
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,622,565$1,442,513▼ $180,052
Net Assets With Donor Restrictions-$558,088-
Total Net Assets Fund Balance$1,622,565$2,000,601▲ $378,036
Total Liabilities and Net Assets / Fund Balance$1,622,565$2,003,170▲ $380,605

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$141,713$10,587$152,300
Land$28,000-$28,000
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Timothy E LampkinCEOFT$72,031$72,031

Board Members and Trustees

NameTitle
Derek Dewayne Hopson JrPresident
Dr Temika SimmonsVice President
Dr Sondra CollinsDirector
Jacqueline JohnsonDirector
Krystal BeachumDirector
Pamela HadleyDirector
Rosie BrownDirector
Mara ScottTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,518,368
Program Service Revenue
$0
Investment Income
$219
Other Revenue
$0
All Other Contributions
$1,518,368
Change in Net Assets
$378,036
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$470,732
Other Expenses$420,049
Grants and Similar Amounts Paid$249,770
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$308,363-$308,363
Grants to Domestic Individuals$249,770--$249,770
Fees for Services Other$34,377$110,492-$144,869
Advertising-$75,685-$75,685
Current Officers, Directors, Trustees, and Key Employees-$72,031-$72,031
Office Expenses-$60,902-$60,902
Payroll Taxes-$43,277-$43,277
Other Employee Benefits-$39,434-$39,434
Fees for Services Legal-$32,685-$32,685
Travel-$31,342-$31,342
Conferences and Meetings$30,617--$30,617
Fees for Services Accounting-$27,234-$27,234
Insurance-$7,832-$7,832
Pension Plan Contributions-$7,627-$7,627
Depreciation Depletion-$5,077-$5,077
Information Technology-$3,208-$3,208
Other Expenses-$590-$590
Interest-$8-$8
Total Functional Expenses$314,764$825,787$0$1,140,551
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
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, Part VI, Line 11B: Form 990 Review Process

“The CEO provides a copy of the Form 990 to the Audit Committee for review.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Conflicts are identified and discussed for a suitable solution.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Board of Directors determines and approves the CEO salary.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The CEO reviews and approves employee salaries.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Higher Purpose Co
EIN
82-1629178
Phone
6625925262
Address
130 Desoto Ave Suite 10, Clarksdale, MS 38614

Signing Officer

Name
Timothy E Lampkin
Title
CEO
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy E Lampkin
Formed
2018
Legal Domicile
Ms
Voting Board Members
6
Independent Board Members
5
Employees
8

Preparer

Firm
Candias Maiden CPA PLLC
Address
153 Magnolia Place Circle, Brandon, MS 39047
Preparer
Candias Maiden CPA
Phone
6623025810
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

“Other program services 4:”

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IRS990/PYOtherExpensesAmt0437353
IRS990/PYOtherRevenueAmt0556
IRS990/PYRevenuesLessExpensesAmt0866491
IRS990/PYSalariesCompEmpBnftPaidAmt0379491
IRS990/PYTotalExpensesAmt01360344
IRS990/PYTotalRevenueAmt02226835
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IRS990/ReconcilationRevenueExpnssAmt0378036
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01515777
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02217185
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01522645
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt05255607
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0141713
IRS990ScheduleD/BuildingsGrp/DepreciationAmt010587
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0152300
IRS990ScheduleD/LandGrp/BookValueAmt028000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt028000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0169713
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER PROGRAM SERVICES 4:
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The CEO provides a copy of the Form 990 to the Audit Committee for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Conflicts are identified and discussed for a suitable solution.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Board of Directors determines and approves the CEO salary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The CEO reviews and approves employee salaries.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Documents are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d: Other Program Services Description
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0314764
IRS990/TotalFunctionalExpensesGrp/TotalAmt01140551
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt02569
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt02569
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01622565
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02000601
IRS990/TotalOtherProgSrvcExpenseAmt04627
IRS990/TotalProgramServiceExpensesAmt0314764
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt072031
IRS990/TotalRevenueGrp/ExclusionAmt0219
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01518587
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01622565
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02003170
IRS990/TravelGrp/ManagementAndGeneralAmt031342
IRS990/TravelGrp/TotalAmt031342
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0130 Desoto Ave Suite 10
IRS990/USAddress/CityNm0Clarksdale
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd038614
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.higherpurposeco.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Timothy E Lampkin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Higher Purpose Co

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,003,170
Liabilities
$2,569
Net assets
$2,000,601
Revenue
$1,518,587
Expenses
$1,140,551
Net income
$378,036
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.74$0.07$0.67$1.81$2.40$0.59
2023Detailed filing. Detailed filing data is available for this year.$1.29$0.02$1.27$1.82$2.59$0.77
2022Detailed filing. Detailed filing data is available for this year.$1.82$0.04$1.77$0.86$1.07$0.20
2021Detailed filing. Detailed filing data is available for this year.$2.00$0.00$2.00$1.52$1.14$0.38
2020Detailed filing. Detailed filing data is available for this year.$1.98$0.00$1.98$2.23$1.36$0.87
2019Detailed filing. Detailed filing data is available for this year.$1.20$0.01$1.19$1.52$0.35$1.17