Panola Partnership Inc
- Assets
- $6.5m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 6
- Location
- Batesville, MS
- Founding
- 06/1972
- Data as of
- 09/2023
- EIN
- 64-0509626
Organization Overview
Panola Partnership Inc is located in Batesville, MS. The organization was established in 1972. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Panola Partnership Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Panola Partnership Inc 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 09/2023, Panola Partnership Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $1.0m during the year ending 09/2023. While expenses have increased by 9.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PANOLA PARTNERSHIP, INC. IS ORGANIZED TO ENCOURAGE, FOSTER, AND STIMULATE THE GROWTH OF COMMERCE; TO ADVERTISE AND BRING INTO FAVORABLE NOTICE THE OPPORTUNITIES, POSSIBILITIES, AND RESOURCES OF PANOLA COUNTY, MISSISSIPPI AND ITS MUNICIPALITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED PANOLA COUNTY BY SPONSORING SPECIAL EVENTS, SPRINGFEST, AND MAIN STREET PROGRAMS. ASSISTED NORTHWEST COMMUNITY COLLEGE REGARDING AN AVIATION PROGRAM THAT WILL OPEN WITH 7 PROGRAMS THAT WILL EMPLOY 20 AND TRAIN UP TO 400 STUDENTS ANNUALLY AT FULL CAPACITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Farrish Director | Trustee | $0 | |
Justin Hill Director | Trustee | $0 | |
David Karr Director | Trustee | $0 | |
Ryan Revere Director | Trustee | $0 | |
Brad Robison Director | Trustee | $0 | |
Kate Victor Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $53,068 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $790,666 |
| All other contributions, gifts, grants, and similar amounts not included above | $50 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $843,784 |
| Total Program Service Revenue | $291,763 |
| Investment income | $104,196 |
| 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 | $1,257,380 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $362,312 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,260 |
| Payroll taxes | $28,450 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,659 |
| Fees for services: Accounting | $10,187 |
| Fees for services: Lobbying | $81,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,188 |
| Fees for services: Other | $51,032 |
| Advertising and promotion | $1,874 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,000 |
| Travel | $11,620 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $695 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,794 |
| Insurance | $13,403 |
| All other expenses | $64,937 |
| Total functional expenses | $1,009,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $990,119 |
| Savings and temporary cash investments | $1,503,615 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,997 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,253,488 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $712,302 |
| Total assets | $6,503,521 |
| Accounts payable and accrued expenses | $4,311 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $4,311 |
| Net assets without donor restrictions | $0 |
| 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 | $6,499,210 |
| Total liabilities and net assets/fund balances | $6,503,521 |