Form 990 for tax year 2023
Filed by COMMUNITY DEVELOPMENT FOUNDATION.
Totals
- Total revenue
- $5,308,017
- Total expenses
- $5,899,295
- Contributions and grants received
- $2,523,458
- Grants paid
- $0
- Program service revenue
- $2,779,809
- Investment income
- $4,750
- Other revenue
- $0
- Total assets, end of year
- $30,722,007
- Total liabilities, end of year
- $10,546,516
- Net assets or fund balances, end of year
- $20,175,491
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$1,017,735
-
1e · Government grants (contributions)
$1,505,723
-
2a · Program service revenue: ECONOMIC DEVELOPMENT
total $2,163,135 · related or exempt $2,113,135 · unrelated business $50,000
-
2b · Program service revenue: MEMBERSHIP EVENTS
total $616,674 · related or exempt $616,674
-
3 · Investment income
total $4,750 · excluded $4,750
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $2,694,088
-
8 · Pension plan contributions
total $190,454
-
10 · Payroll taxes
total $152,642
-
11b · Fees: legal
total $3,954
-
11c · Fees: accounting
total $27,000
-
11g · Fees: other
total $58,165
-
12 · Advertising and promotion
total $28,972
-
14 · Information technology
total $19,835
-
16 · Occupancy
total $804,312
-
17 · Travel
total $174,797
-
20 · Interest
total $201,933
-
23 · Insurance
total $216,866
-
24a · Other expenses: MISCELLANEOUS
total $678,264
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $146,814
-
24c · Other expenses: REPAIRS AND MAINTENANCE
total $145,003
-
24d · Other expenses: PUBLIC RELATIONS
total $131,449
-
24e · All other expenses
total $224,747
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,536,642 · end of year $724,901
-
4 · Accounts receivable
beginning of year $1,501,747 · end of year $372,186
-
9 · Prepaid expenses and deferred charges
beginning of year $101,825 · end of year $555,704
-
10a · Land, buildings and equipment: cost or other basis
$33,489,957
-
10b · Land, buildings and equipment: accumulated depreciation
$6,331,879
-
10c · Land, buildings and equipment, net
beginning of year $24,182,732 · end of year $27,158,078
-
11 · Investments: publicly traded securities
beginning of year $1,433,691 · end of year $1,738,506
-
14 · Intangible assets
beginning of year $89,173 · end of year $89,173
-
15 · Other assets
beginning of year $1,451,180 · end of year $83,459
-
17 · Accounts payable and accrued expenses
beginning of year $289,952 · end of year $446,780
-
19 · Deferred revenue
beginning of year $415,374 · end of year $1,575,749
-
23 · Secured mortgages and notes payable
beginning of year $9,306,125 · end of year $5,340,645
-
25 · Other liabilities
beginning of year $1,518,770 · end of year $3,183,342
-
27 · Net assets without donor restrictions
beginning of year $14,891,399 · end of year $14,300,121
-
28 · Net assets with donor restrictions
beginning of year $5,875,370 · end of year $5,875,370
Mission and programs · 2023
Mission
THE ORGANIZATION'S MISSION IS TO DIVERSIFY AND STREGTHEN OUR ECONOMIC MIX THROUGH BUSINESS RETENTION, EXPANSION, AND ATTRACTION. IMPROVE OUR HUMAN CAPITAL THROUGH WORKFORCE SKILLS, AND LEADERSHIP TRAINING. IMPROVE OUR COMMUNICATIONS WITH EXISTING BUSINESSES, LOCAL, STATE AND FEDERAL GOVERNMENTS. FOSTER SMALL BUSINESS AND ENTREPRENEUR DEVELOPMENT. AND TO ENHANCE THE BUSINESS CLIMATE AND QUALITY OF LIFE THROUGH PLANNING, PUBLIC POLICY, AND STRONG PARTNERSHIPS.
Activities or mission (Part I)
TO STRENGTHEN THE TUPELO-LEE COUNTY REGION THROUGH ECONOMIC AND COMMUNITY DEVELOPMENT.
-
THE PLANNING AND PROPERTY MANAGEMENT PROGRAM AIMS TO EMPOWER AND RAISE THE STANDARD OF PUBLIC COMMUNICATION AND PARTNERSHIP FOR REGIONAL PROGRESS. THIS PROGRAM OF WORK AND ITS ELEMENTS IS CREATED TO ADDRESS THE LEE COUNTY NEEDS WHILE BROADENING THE REGIONS DEVELOPMENT EFFORTS.
-
THE LEE COUNTY CHAMBER OF COMMERCE ENHANCES COMMUNITY EDUCATION AND THE BUSINESS ENVIRONMENT IN LEE COUNTY.
-
THE ECONOMIC DEVELOPMENT/FUTURE FOCUS IS A MEANS TO BRING VIBRANT WORKFORCE AND TRAINING TO LEE COUNTY BY RECRUITMENT, RETENTION, AND WORKFORCE TRAINING OF EXISTING AND FUTURE INDUSTRIES.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
SHANE SPEES
PAST CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0
-
KIM CARON
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0
-
CHRIS BAGLEY
CHAIRMAN ELECT
- Total calculated
- $0
- Hours/week
- 0
-
DAVID RIMBARGER
PRES./CEO
- Total calculated
- $0
- Hours/week
- 40
-
PHIL MORGAN
EX OFFICIO
- Total calculated
- $0
- Hours/week
- 0
-
AARON WASHINGTON
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
BEV CROSSEN
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
KEVIN CHAPMAN
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
KURT SHETTLES
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
EMILY LAUDER
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
BERNARD BEAN
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
BRIAN RIGBY
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
CHARLIE KINNEY
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
SHARON NOBLES
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
SKIPPER HOLLIMAN
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
NORRIS GRIZZARD
MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
JOSH WEST
MEMBER
- Total calculated
- $0
- Hours/week
- 0
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Schedule J
Answered yes
- 1a · Tax indemnification and gross-up payments
- 1a · Discretionary spending account
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 4B
- DAVID RUMBARGER $30,000
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202510769349301241
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