Form 990 for tax year 2023
Filed by JACKSON COUNTY ECONOMIC DEVELOPMENT FOUNDATION INC.
Totals
- Total revenue
- $2,067,099
- Total expenses
- $2,021,665
- Contributions and grants received
- $2,018,214
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $48,885
- Other revenue
- $0
- Total assets, end of year
- $4,807,913
- Total liabilities, end of year
- $1,235,424
- Net assets or fund balances, end of year
- $3,572,489
- Program services expenses (Part IX)
- $1,848,018
- Management and general expenses
- $173,647
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,848,018
Program services were 91.4% 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)
$650,000
-
1f · All other contributions, gifts and grants
$1,368,214
-
1g · Noncash contributions included above
$30,000
-
3 · Investment income
total $48,885 · related or exempt $48,885
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $636,229 · program services $572,606 · management and general $63,623
-
7 · Other salaries and wages
total $72,497 · program services $65,247 · management and general $7,250
-
8 · Pension plan contributions
total $26,047 · program services $23,442 · management and general $2,605
-
9 · Other employee benefits
total $46,931 · program services $42,238 · management and general $4,693
-
10 · Payroll taxes
total $35,585 · program services $32,026 · management and general $3,559
-
11b · Fees: legal
total $24,683 · program services $19,746 · management and general $4,937
-
11c · Fees: accounting
total $35,080 · program services $16,137 · management and general $18,943
-
11d · Fees: lobbying
total $61,000 · program services $61,000
-
11g · Fees: other
total $50,655 · program services $50,655
-
12 · Advertising and promotion
total $98,131 · program services $98,131
-
13 · Office expenses
total $41,088 · program services $32,871 · management and general $8,217
-
14 · Information technology
total $18,192 · program services $14,554 · management and general $3,638
-
16 · Occupancy
total $30,000 · management and general $30,000
-
17 · Travel
total $61,088 · program services $61,088
-
19 · Conferences, conventions and meetings
total $39,835 · program services $39,835
-
22 · Depreciation, depletion and amortization
total $31,368 · program services $25,095 · management and general $6,273
-
23 · Insurance
total $19,909 · management and general $19,909
-
24a · Other expenses: COMMUNITY DEVELOPMENT
total $577,837 · program services $577,837
-
24b · Other expenses: PROSPECT DEVELOPMENT
total $104,395 · program services $104,395
-
24c · Other expenses: GRANT EXPENSE
total $7,800 · program services $7,800
-
24d · Other expenses: DUES & SUBSCRIPTIONS
total $3,315 · program services $3,315
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,597,284 · end of year $2,757,181
-
2 · Savings and temporary cash investments
beginning of year $691,202 · end of year $1,342,026
-
3 · Pledges and grants receivable
beginning of year $443,848 · end of year $430,049
-
4 · Accounts receivable
beginning of year $341,212 · end of year $201,989
-
10a · Land, buildings and equipment: cost or other basis
$430,439
-
10b · Land, buildings and equipment: accumulated depreciation
$353,771
-
10c · Land, buildings and equipment, net
beginning of year $105,637 · end of year $76,668
-
17 · Accounts payable and accrued expenses
beginning of year $50,463 · end of year $31,397
-
25 · Other liabilities
beginning of year $601,665 · end of year $1,204,027
-
27 · Net assets without donor restrictions
beginning of year $1,497,252 · end of year $1,596,735
-
28 · Net assets with donor restrictions
beginning of year $2,029,803 · end of year $1,975,754
Mission and programs · 2023
Mission
IMPROVING THE ECONOMIC DEVELOPMENT OPPORTUNITIES OF JACKSON COUNTY, MISSISSIPPI BY UNIFYING PLANNING, ECONOMIC & INDUSTRIAL DEVELOPMENT, AND MARKETING ACTIVITIES IN THE COUNTY.
-
THE FOUNDATION HAS IMPLEMENTED A RETENTION & EXPANSION PROGRAM, IDENTIFIED OPTIMAL SITES FOR NEW INDUSTRY, ESTABLISHED A "RED CARPET" BUINESS RECRUITMENT TEAM, AND WORKED WITH OTHER NON PORFIT ORGANIZATIONS WITH COUNTY IMPROVEMENTS. ALSO, RECEIVED AND EXPENDED ADVERTISING GRANTS TO PROMOTE THE COUNTY.
Expenses $1,848,018
As filed on the 2023 return.
Listed in Part VII
-
George L Freeland JrGEORGE L FREELAND JR
CEO
- Total calculated
- $412,519
- From this org
- $397,932
- From related orgs
- $0
- Other
- $14,587
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $397,932
- Bonus
- not reported
- Other
- not reported
- Deferred
- $14,587
- Nontaxable benefits
- not reported
- Filer's total
- $412,519
-
Mary Martha HensonMARY MARTHA HENSON
DEPUTY DIREC
- Total calculated
- $246,797
- From this org
- $238,193
- From related orgs
- $0
- Other
- $8,604
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $238,193
- Bonus
- not reported
- Other
- not reported
- Deferred
- $8,604
- Nontaxable benefits
- not reported
- Filer's total
- $246,797
-
Jimmy HeidelbergJIMMY HEIDELBERG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Kenny HollowayKENNY HOLLOWAY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Brian HugheyBRIAN HUGHEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Billy KnightBILLY KNIGHT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Benny LassiterBENNY LASSITER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Tim PotterTIM POTTER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Troy RossTROY ROSS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Cynthia StrunkCYNTHIA STRUNK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Ken TaylorKEN TAYLOR
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Hank TorjesonHANK TORJESON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Casey VaughanCASEY VAUGHAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Kari WilkinsonKARI WILKINSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Jay WillisJAY WILLIS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 3
-
Greg CroninGREG CRONIN
SECRETARY/TR
- Total calculated
- $0
- Hours/week
- 4
-
Royce CumbestROYCE CUMBEST
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 3
-
Jerry Stpe'JERRY STPE'
VICE CHARIMA
- Total calculated
- $0
- Hours/week
- 3
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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
- 14 August 2024
- IRS schema version
- 2023v6.0
- Source object
- 202512259349301716
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