Civic Intelligence

Higher Purpose Co

990 • Fiscal year 2022 • EIN 82-1629178

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

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

38th percentile

0.02x

Higher debt load relative to assets than 38% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

42nd percentile

0.05x

Higher debt load relative to revenue than 42% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

13th percentile

-23%

Higher net margin than 13% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

21st percentile

-9.3%

Faster asset growth than 21% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

9th percentile

-43%

Faster revenue growth than 9% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets38th percentile

Assets

Down

$1,817,362

Down $185,808 (-9.3%) from 2021

Net Assets

Down

$1,773,687

Down $226,914 (-11%) from 2021

Liabilities

Up

$43,675

Up $41,106 (+1600%) from 2021

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin13th percentile

Revenue

Down

$864,131

Down $654,456 (-43%) from 2021

Expenses

Down

$1,065,452

Down $75,099 (-6.6%) from 2021

Net Income

Down

-$201,321

Down $579,357 (-153%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth21st 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

2022

Assets$1,817,362
Liabilities$43,675
Net Assets$1,773,687
Open 2022 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

2022

Revenue$864,131
Expenses$1,065,452
Net Income-$201,321
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$864,131
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$1,550,374$1,395,846▼ $154,528
Accounts Receivable$250,000$250,000→ $0
Land, Buildings, and Equipment, Net$169,713$166,328▼ $3,385
Prepaid Expenses and Deferred Charges$7,490$5,188▼ $2,302
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$1,977,577$1,817,362▼ $160,215
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$2,569$43,675▲ $41,106
Total Liabilities$2,569$43,675▲ $41,106
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,975,008$1,773,687▼ $201,321
Total Net Assets Fund Balance$1,975,008$1,773,687▼ $201,321
Total Liabilities and Net Assets / Fund Balance$1,977,577$1,817,362▼ $160,215

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$166,328-$166,328
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Derek Dewayne Hopson JrPresident
Dr Temika SimmonsVice President
Dr Sondra CollinsDirector
Jacqueline JohnsonDirector
Krystal BeachumDirector
Rosie BrownDirector
Timothy E LampkinCEO
Mara ScottSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$863,957
Program Service Revenue
$0
Investment Income
$174
Other Revenue
$0
All Other Contributions
$863,957
Change in Net Assets
$-201,321
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$516,324
Other Expenses$370,903
Grants and Similar Amounts Paid$178,225
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$194,753-$194,753
Current Officers, Directors, Trustees, and Key Employees-$180,000-$180,000
Payroll Taxes-$141,571-$141,571
Grants to Domestic Orgs$129,500--$129,500
Fees for Services Other$41,650$39,187-$80,837
Advertising-$63,423-$63,423
Fees for Services Accounting-$52,227-$52,227
Grants to Domestic Individuals$48,725--$48,725
Travel$36,850--$36,850
Office Expenses-$32,555-$32,555
Insurance-$5,598-$5,598
Other Expenses$47,516$3,384-$3,384
Information Technology-$2,200-$2,200
All Other Expenses$1,713$100-$1,813
Fees for Services Legal-$949-$949
Interest-$6-$6
Total Functional Expenses$305,954$759,498$0$1,065,452
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, Section B, Line 11B

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

Form 990, Part VI, Section B, Line 12C

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

Form 990, Part VI, Section B, Line 15A

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

Form 990, Part VI, Section B, Line 15B

“The CEO reviews and approves employee salaries.”

Form 990, Part VI, Section C, Line 19

“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
2023-11-15
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 4: Kiva MS - connecting entrepreneurs to 0 interest loans up to $10,000 with no collateral or minimum credit score required OTHER PROGRAM SERVICES 5: Business Ownership Education & Outreach - providing business workshops, trainings, and summits at no or low cost to entrepreneurs”

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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/CurrentTaxYearAmt0896742
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02217185
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01522645
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04636572
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt04636572
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0896742
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02217185
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01522645
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04636572
IRS990ScheduleA/TotalSupportAmt04636572
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0166328
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0166328
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0166328
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
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: Kiva MS - connecting entrepreneurs to 0 interest loans up to $10,000 with no collateral or minimum credit score required OTHER PROGRAM SERVICES 5: Business Ownership Education & Outreach - providing business workshops, trainings, and summits at no or low cost to entrepreneurs
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt08
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0759498
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0305954
IRS990/TotalFunctionalExpensesGrp/TotalAmt01065452
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02569
IRS990/TotalLiabilitiesEOYAmt043675
IRS990/TotalLiabilitiesGrp/BOYAmt02569
IRS990/TotalLiabilitiesGrp/EOYAmt043675
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01975008
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01773687
IRS990/TotalProgramServiceExpensesAmt0305954
IRS990/TotalProgramServiceRevenueAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0864131
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01977577
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01817362
IRS990/TravelGrp/ProgramServicesAmt036850
IRS990/TravelGrp/TotalAmt036850
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/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Timothy E Lampkin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-15
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
ReturnHeader/Filer/USAddress/ZIPCd038614
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0822815565
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Candias Maiden CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0153 Magnolia Place Circle
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Brandon
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,817,362
Liabilities
$43,675
Net assets
$1,773,687
Revenue
$864,131
Expenses
$1,065,452
Net income
-$201,321
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