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Nonprofiteer
← MONTGOMERY INSTITUTE

Form 990 for tax year 2022

Filed by MONTGOMERY INSTITUTE.

Totals

Total revenue
$271,637
Total expenses
$259,301
Contributions and grants received
$199,807
Grants paid
$0
Program service revenue
$0
Investment income
$71,830
Other revenue
$0
Total assets, end of year
$2,046,133
Total liabilities, end of year
$21,379
Net assets or fund balances, end of year
$2,024,754
Program services expenses (Part IX)
$205,763
Management and general expenses
$52,004
Fundraising expenses
$1,534
Program service expenses (Part III)
$205,763

Program services were 79.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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.

  • 1e · Government grants (contributions)

    $61,872

  • 1f · All other contributions, gifts and grants

    $137,935

  • 3 · Investment income

    total $71,830 · related or exempt $71,830

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $186,499 · program services $152,929 · management and general $33,570

  • 11c · Fees: accounting

    total $7,831 · program services $6,421 · management and general $1,410

  • 12 · Advertising and promotion

    total $2,593 · program services $2,593

  • 13 · Office expenses

    total $23,455 · program services $18,266 · management and general $4,998 · fundraising $191

  • 17 · Travel

    total $6,608 · program services $6,434 · management and general $174

  • 19 · Conferences, conventions and meetings

    total $9,506 · management and general $8,163 · fundraising $1,343

  • 22 · Depreciation, depletion and amortization

    total $251 · program services $206 · management and general $45

  • 23 · Insurance

    total $9,363 · program services $7,678 · management and general $1,685

  • 24a · Other expenses: RENT

    total $6,580 · program services $5,396 · management and general $1,184

  • 24b · Other expenses: CONTRACTS

    total $3,630 · program services $3,630

  • 24c · Other expenses: TELEPHONE & COMMUNICATI

    total $2,985 · program services $2,210 · management and general $775

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $335,297 · end of year $277,750

  • 2 · Savings and temporary cash investments

    beginning of year $49,128 · end of year $75,867

  • 3 · Pledges and grants receivable

    beginning of year $16,996 · end of year $11,969

  • 4 · Accounts receivable

    beginning of year $1,597 · end of year $3,708

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,204 · end of year $1,475

  • 10a · Land, buildings and equipment: cost or other basis

    $57,643

  • 10b · Land, buildings and equipment: accumulated depreciation

    $55,196

  • 10c · Land, buildings and equipment, net

    beginning of year $2,698 · end of year $2,447

  • 11 · Investments: publicly traded securities

    beginning of year $1,614,686 · end of year $1,666,422

  • 15 · Other assets

    beginning of year $0 · end of year $6,495

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,188 · end of year $14,884

  • 25 · Other liabilities

    beginning of year $0 · end of year $6,495

  • 27 · Net assets without donor restrictions

    beginning of year $598,288 · end of year $610,624

  • 28 · Net assets with donor restrictions

    beginning of year $1,414,130 · end of year $1,414,130

Mission and programs · 2022

Mission

THE CORPORATION IS A NONPROFIT CORPORATION ORGANIZED FOR THE FOLLOWING EXCLUSIVELY CHARITABLE, AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, OR THE CORRESPONDING PROVISION OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW (REFERRED TO IN THESE ARTICLES OF INCORPORATION AS THE "CODE"): TO EDUCATE, TRAIN, AND INFORM CITIZEN LEADERS WHO WILL THEN BE ABLE TO INSTIGATE, NURTURE, PROMOTE, COORDINATE, AND ASSIST IN THE FORMATION, DIRECTION, AND EXECUTION OF UNDERTAKINGS LEADING TO THE UPBUILDING OF COMMUNITIES IN THE EASTERN PORTION OF MISSISSIPPI AND WESTERN PORTION OF ALABAMA, WITH EMPHASIS ON ACTIVITIES THAT REVITALIZE OR STABILIZE LOW- OR MODERATE-INCOME GEOGRAPHIES AND DISTRESSED OR UNDERSERVED NONMETROPOLITAN MIDDLE-INCOME GEOGRAPHIES DESIGNATED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, FEDERAL DEPOSIT INSURANCE CORPORATION, AND OFFICE OF THE COMPTROLLER OF THE CURRENCY. IN ACCORDANCE WITH THIS PURPOSE, T

Activities or mission (Part I)

Withheld by Nonprofiteer: this text may name a private individual.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $205,763

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Michael Dudley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Soraya Weldon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Archie McDonnell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tracy Alford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cd Smith

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Brad Huff

    TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Beverly J Knox

    PRESIDENT

    Total calculated
    $52,000
    From this org
    $52,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    30

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 July 2024
IRS schema version
2022v5.0
Source object
202401919349301315

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