Central Mississippi Development Co Inc

Nonprofit profile at a glance

EIN
640671015
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Pearl, MS, USA
Phone
6019811515
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$107,900
Expenses
$204,618
Assets
$1,004,763
Liabilities
$30,047

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • DE'KEITHER STAMPS (PRESIDENT)
  • JARED MORRISON (VICE PRESIDENT)

People named in this filing

  • DE'KEITHER STAMPS (PRESIDENT)
  • FRANK QUINN (SECRETARY/TREASURER)
  • JARED MORRISON (VICE PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Central Mississippi development co., inc. (cmdc) is a non-profit corporation established and authorized under the small business investment act of 1958 to provide a source of long-term financing for small business concerns and their growth, modernization and expansion. Cmdc provides fixed asset financing which is a basis for expanding employment and increasing the economic base of the seven county area it serves.

What it reported doing in 2024

Central Mississippi Development Co., Inc. (CMDC) is authorized to issue bonds. The proceeds from the issuance of bonds are loaned to small businesses to finance fixed assets. The bonds, which are guaranteed by the Small Business Administration, are repaid solely from the proceeds of the promissory notes issued. Since CMDC has no primary obligation under the bonds, the amount of the bonds outstanding is not shown on the financial statements. The amount of outstanding bonds and related notes receivable totaled approximately $10,911,000 at September 30, 2025. Expenses incurred during the year in furtherance of this program service totaled $188,074.

Operating model

Revenue model
Other-operating. 67% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 100
  • Accountability: 94
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.9%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -89.6%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 4.91; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 0.3% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: -4.5% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $188K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.