East Mississippi Business Development Foundation
- Assets
- $136.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Meridian, MS
- Founding
- 12/2003
- Data as of
- 09/2023
- EIN
- 20-0178999
Organization Overview
East Mississippi Business Development Foundation is located in Meridian, MS. The organization was established in 2003. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Mississippi Business Development Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, East Mississippi Business Development Foundation generated $88.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.4%) each year. All expenses for the organization totaled $96.3k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
PROMOTION OF REDEVELOPMENT AND NEW DEVELOPMENT OF THE DOWNTOWN OF THE CITY OF MERIDIAN AND RURAL AREAS OF LAUDERDALE COUNTY AND COMBAT THE OVERALL COMMUNITY DETERIORATION OF THESE AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Huff Chairman | 2 | $0 | |
Fred Wile Vice-Chairman | 2 | $0 | |
Katie Coleman Director | 2 | $0 | |
Nancy Davis Director | 2 | $0 | |
Michael Gibson Director | 2 | $0 | |
Brandye Latimer Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,400 |
| Total Program Service Revenue | $33,565 |
| Membership dues | $0 |
| Investment income | $533 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $6,261 |
| Total Revenue | $88,759 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $1,200 |
| Printing, publications, postage, and shipping | $98 |
| Other expenses | $94,981 |
| Total expenses | $96,279 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $96,689 |
| Other assets | $0 |
| Total assets | $136,383 |
| Total liabilities | $14,950 |
| Net assets or fund balances | $121,433 |