Mississippi Economic Council
- Assets
- $3.4m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 13
- Location
- Jackson, MS
- Founding
- 02/1950
- Data as of
- 04/2022
- EIN
- 64-0293716
Organization Overview
Mississippi Economic Council is located in Jackson, MS. The organization was established in 1950. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 04/2022, Mississippi Economic Council employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Economic Council is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 04/2022, Mississippi Economic Council generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $2.5m during the year ending 04/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD A SENSE OF STATEWIDE BUSINESS COMMUNITY. AS THE STATE CHAMBER OF COMMERCE, THE ORGANIZATION SERVES AS A MEANINGFUL VOICE ON ISSUES AND INITIATIVES FOCUSING ON THE STATE'S FUTURE IN EDUCATION, WORKFORCE, BUSINESS CLIMATE AND IMAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH-THE ORGANIZATION MAKES RECOMENDATIONS BASED ON INVESTIGATION AND POLLING IN ORDER TO REFLECT THE VIEWS OF BUSINESS LEADERS IN MISSISSIPPI.
MEETINGS- THE ORGANIZATION CONDUCTS A SERIES OF MEETINGS THROUGHOUT MISSISSIPPI TO INFORM BUSINESS LEADERS OF ISSUES OF CONCERN TO THE FUTURE OF THE STATE AND TO PROVIDE NETWORKING OPPORTUNITIES.
ADVOCACY-ORGANIZATION SEEKS TO OPERATE AS THE VOICE OF BUSINESS BEFORE THE MISSISSIPPI LEGISLATURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John S Waller Ceo/presiden | Officer | 36 | $270,770 |
Beth Kitchings Dir. Of Memb | 40 | $119,684 | |
Cathy Northington Chief Oper. | 20 | $88,977 | |
Vickie Powell VP Of Founda | 4 | $17,052 | |
Jeff Bowman 2nd Vice Cha | OfficerTrustee | 2 | $0 |
Augustus Collins Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $152,471 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $152,471 |
| Total Program Service Revenue | $2,818,626 |
| Investment income | $26 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,971,489 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $281,071 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $640,090 |
| Pension plan accruals and contributions | $45,220 |
| Other employee benefits | $56,140 |
| Payroll taxes | $62,340 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,674 |
| Fees for services: Accounting | $87,492 |
| Fees for services: Lobbying | $65,200 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $154,497 |
| Advertising and promotion | $50,445 |
| Office expenses | $128,951 |
| Information technology | $52,543 |
| Royalties | $0 |
| Occupancy | $44,422 |
| Travel | $34,064 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $685,445 |
| Interest | $2,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,973 |
| Insurance | $10,626 |
| All other expenses | $0 |
| Total functional expenses | $2,454,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,368 |
| Savings and temporary cash investments | $60,026 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $157,871 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $126,822 |
| Net Land, buildings, and equipment | $35,234 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,036,194 |
| Total assets | $3,436,515 |
| Accounts payable and accrued expenses | $176,001 |
| Grants payable | $0 |
| Deferred revenue | $274,621 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $450,622 |
| Net assets without donor restrictions | $2,985,893 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,436,515 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mississippi Economic Council has recieved totaling $300.
| Awarding Organization | Amount |
|---|---|
Worth Thomas Foundation Jackson, MS PURPOSE: TO SUPPORT EDUCATION AWARENESS | $300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Schools For Baton Rouge Baton Rouge, LA | $18,000,510 | $11,219,034 |
Community Partnership Of Alabama Inc Birmingham, AL | $5,781,438 | $8,059,012 |
Electric Cooperatives Of Mississippi A A L Ridgeland, MS | $8,957,411 | $6,545,742 |
Youth Force Nola New Orleans, LA | $5,195,075 | $5,408,027 |
Council For Leaders In Alabama Schools Montgomery, AL | $6,430,094 | $7,182,268 |
Midsouth Grain Inspection Services Memphis, TN | $5,083,441 | $4,324,321 |
Mississippi One-Call System Inc Jackson, MS | $4,141,931 | $4,142,716 |
Mississippi Manufacturers Association Jackson, MS | $5,674,964 | $3,449,286 |
Walton Education Coalition Inc Bentonville, AR | $905,003 | $3,450,000 |
Louisiana Restaurant Association Inc Metairie, LA | $9,314,228 | $3,239,510 |
Mississippi Economic Council Jackson, MS | $3,436,515 | $2,971,489 |
Mississippi Bankers-Association Jackson, MS | $3,030,525 | $1,890,944 |