Civic Intelligence

Higher Purpose Co

990 • Fiscal year 2021 • EIN 82-1629178

Jan 01, 2021 to Dec 31, 2021 • Filed on May 12, 2023

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

(662) 592-5262

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$2,000,669

Up $20,115 (+1.0%) from 2020

Net Assets

Down

$1,975,099

Down $5,455 (-0.3%) from 2020

Liabilities

Up

$25,570

Up $25,570 from 2020

Revenue And Expenses

Revenue

Down

$1,518,368

Down $708,467 (-32%) from 2020

Expenses

Down

$1,165,834

Down $194,510 (-14%) from 2020

Net Income

Down

$352,534

Down $513,957 (-59%) from 2020

Historical Trend

Balance Sheet Trend

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 2021: $2,000,669Liabilities 2021: $25,570Net Assets 2021: $1,975,0992021Assets 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$2,000,669
Liabilities$25,570
Net Assets$1,975,099
Open 2021 Filing

Operations Trend

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 2021: $1,518,368Expenses 2021: $1,165,834Net Income 2021: $352,5342021Revenue 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$1,518,368
Expenses$1,165,834
Net Income$352,534
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 12, 2023
Return Version
2021v4.1
Gross Receipts
$1,518,368
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$1,573,467▲ $131,202
Accounts Receivable-$250,000-
Land, Buildings, and Equipment, Net$180,300$169,712▼ $10,588
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$2,000,669▲ $378,104
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$25,570-
Total Liabilities$0$25,570▲ $25,570
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,622,565$1,165,767▼ $456,798
Net Assets With Donor Restrictions-$809,332-
Total Net Assets Fund Balance$1,622,565$1,975,099▲ $352,534
Total Liabilities and Net Assets / Fund Balance$1,622,565$2,000,669▲ $378,104

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$141,712$10,588$152,300
Land$28,000-$28,000
Compensation and Service Providers

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
$0
Other Revenue
$0
All Other Contributions
$1,518,368
Change in Net Assets
$352,534
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$456,739
Other Expenses$451,825
Grants and Similar Amounts Paid$257,270
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$294,370--$294,370
Grants to Domestic Individuals$257,270--$257,270
Fees for Services Other$158,864--$158,864
Office Expenses-$77,740-$77,740
Advertising-$75,768-$75,768
Current Officers, Directors, Trustees, and Key Employees$72,031--$72,031
Payroll Taxes$43,277--$43,277
Other Employee Benefits$39,434--$39,434
Travel-$36,000-$36,000
Fees for Services Legal$32,685--$32,685
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
Interest-$8-$8
Total Functional Expenses$937,869$227,965$0$1,165,834
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
2023-05-12
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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IRS990ScheduleD/LandGrp/BookValueAmt028000
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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/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0130 Desoto Ave Suite 10
IRS990/USAddress/CityNm0Clarksdale
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd038614
IRS990/VotingMembersGoverningBodyCnt06
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IRS990/WebsiteAddressTxt0www.higherpurposeco.org
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Timothy E Lampkin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Higher Purpose Co
ReturnHeader/Filer/BusinessNameControlTxt0HIGH
ReturnHeader/Filer/EIN0821629178
ReturnHeader/Filer/PhoneNum06625925262
ReturnHeader/Filer/USAddress/AddressLine1Txt0130 Desoto Ave Suite 10
ReturnHeader/Filer/USAddress/CityNm0Clarksdale
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,000,669
Liabilities
$25,570
Net assets
$1,975,099
Revenue
$1,518,368
Expenses
$1,165,834
Net income
$352,534
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
2021Detailed filing. Detailed filing data is available for this year.$2.00$0.03$1.98$1.52$1.17$0.35
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