Civic Intelligence

Higher Purpose Co

990 • Fiscal year 2023 • EIN 82-1629178

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 14, 2024

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

(662) 351-8849

Siviq Scores

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

Liabilities / Assets

34th percentile

0.02x

Higher debt load relative to assets than 34% of similar nonprofits.

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

Liabilities / Revenue

27th percentile

0.01x

Higher debt load relative to revenue than 27% of similar nonprofits.

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

Net Margin

8th percentile

-42%

Higher net margin than 8% of similar nonprofits.

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

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.

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

Asset Growth

4th percentile

-29%

Faster asset growth than 4% of similar nonprofits.

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

Revenue Growth

92nd percentile

111%

Faster revenue growth than 92% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets34th percentile

Assets

Down

$1,289,223

Down $528,139 (-29%) from 2022

Net Assets

Down

$1,269,272

Down $504,415 (-28%) from 2022

Liabilities

Down

$19,951

Down $23,724 (-54%) from 2022

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin8th percentile

Revenue

Up

$1,823,132

Up $959,001 (+111%) from 2022

Expenses

Up

$2,591,129

Up $1,525,677 (+143%) from 2022

Net Income

Down

-$767,997

Down $566,676 (-281%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2023

Assets$1,289,223
Liabilities$19,951
Net Assets$1,269,272
Open 2023 Filing

Operations Trend

Revenue Growth92nd 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

2023

Revenue$1,823,132
Expenses$2,591,129
Net Income-$767,997
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 14, 2024
Return Version
2023v5.1
Gross Receipts
$1,823,132
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.

Higher Purpose Co mission is to improve intergenerational economic opportunity across Mississippi by prioritizing Black communities impacted by poverty. Our key programming pillars are Business Ownership, Food Justice, Arts/Culture, Workforce Development, and Public Policy. Utilizing an integrated model of community education, digital storytelling, and participatory grantmaking to create systemic impact.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,659,428$815,176▼ $844,252
Accounts Receivable$250,000$300,300▲ $50,300
Land, Buildings, and Equipment, Net$166,328$159,559▼ $6,769
Prepaid Expenses and Deferred Charges$5,188$14,188▲ $9,000
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$2,080,944$1,289,223▼ $791,721
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$43,675$19,951▼ $23,724
Total Liabilities$43,675$19,951▼ $23,724
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$809,332-
Net Assets Without Donor Restrictions$2,037,269$459,940▼ $1,577,329
Total Net Assets Fund Balance$2,037,269$1,269,272▼ $767,997
Total Liabilities and Net Assets / Fund Balance$2,080,944$1,289,223▼ $791,721

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$159,559-$159,559
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
Pamela HadleyDirector
Rosie BrownDirector
Timothy E LampkinCEO
Mara ScottSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,822,952
Program Service Revenue
$0
Investment Income
$180
Other Revenue
$0
All Other Contributions
$1,822,952
Change in Net Assets
$-767,997
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,240,202
Salaries, Compensation, and Employee Benefits$1,203,657
Grants and Similar Amounts Paid$147,270
Total Fundraising Expense$33,218
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$528,488$297,274-$825,762
Fees for Services Other$307,499$99,913$19,750$427,162
Other Employee Benefits$171,254$96,330-$267,584
Travel$168,807$94,036$1,130$263,973
Payroll Taxes$45,478$64,833-$110,311
Advertising$29,760$52,515$3,463$85,738
Grants to Domestic Orgs$79,020--$79,020
All Other Expenses$26,107$44,484$7,075$77,666
Fees for Services Accounting-$69,060-$69,060
Grants to Domestic Individuals$68,250--$68,250
Fees for Services Legal-$40,000-$40,000
Office Expenses$12,628$14,412-$27,040
Other Expenses$24,948$54,996$1,800$26,748
Information Technology$2,113$14,682-$16,795
Insurance$320$10,808-$11,128
Total Functional Expenses$1,582,302$975,609$33,218$2,591,129
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
6623518849
Address
130 Desoto Ave Suite 10, Clarksdale, MS 38614

Signing Officer

Name
Timothy E Lampkin
Title
CEO
Signed
2024-10-14
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: The Hub OTHER PROGRAM SERVICES 5: The Institute - Business Ownership Education & Outreach - providing business workshops, trainings, and summits at no or low cost to entrepreneurs OTHER PROGRAM SERVICES 6: HPC General Programs”

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IRS990/PayrollTaxesGrp/TotalAmt0110311
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05188
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt014188
IRS990/PrincipalOfficerNm0Timothy E Lampkin
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0HPC General Programs
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0392455
IRS990/ProgSrvcAccomActy3Grp/Desc0The Institute - Business Ownership Education & Outreach - providing business workshops, trainings, and summits at no or low cost to entrepreneurs
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0356625
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0863957
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0178225
IRS990/PYInvestmentIncomeAmt0174
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0370903
IRS990/PYRevenuesLessExpensesAmt0-201321
IRS990/PYSalariesCompEmpBnftPaidAmt0516324
IRS990/PYTotalExpensesAmt01065452
IRS990/PYTotalRevenueAmt0864131
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-767997
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/CurrentTaxYearAmt01743991
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0896742
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02217185
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01522645
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06380563
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt06380563
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01743991
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0896742
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02217185
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01522645
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06380563
IRS990ScheduleA/TotalSupportAmt06380563
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0159559
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0159559
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0159559
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER PROGRAM SERVICES 4: The Hub OTHER PROGRAM SERVICES 5: The Institute - Business Ownership Education & Outreach - providing business workshops, trainings, and summits at no or low cost to entrepreneurs OTHER PROGRAM SERVICES 6: HPC General Programs
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MS
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02080944
IRS990/TotalAssetsEOYAmt01289223
IRS990/TotalAssetsGrp/BOYAmt02080944
IRS990/TotalAssetsGrp/EOYAmt01289223
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01822952
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt033218
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0975609
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01582302
IRS990/TotalFunctionalExpensesGrp/TotalAmt02591129
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt043675
IRS990/TotalLiabilitiesEOYAmt019951
IRS990/TotalLiabilitiesGrp/BOYAmt043675
IRS990/TotalLiabilitiesGrp/EOYAmt019951
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02037269
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01269272
IRS990/TotalOtherProgSrvcExpenseAmt0427489
IRS990/TotalProgramServiceExpensesAmt01582302
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0180
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01823132
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02080944
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01289223
IRS990/TravelGrp/FundraisingAmt01130
IRS990/TravelGrp/ManagementAndGeneralAmt094036
IRS990/TravelGrp/ProgramServicesAmt0168807
IRS990/TravelGrp/TotalAmt0263973
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/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Timothy E Lampkin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-14

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,289,223
Liabilities
$19,951
Net assets
$1,269,272
Revenue
$1,823,132
Expenses
$2,591,129
Net income
-$767,997
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