Governor's Mansion Foundation

Nonprofit profile at a glance

EIN
640813197
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Jackson, MS, USA
Phone
6016684592
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$62,500
Expenses
$48,362
Assets
$51,091
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • FRANC LEE (DIRECTOR & PRESIDENT)
  • MELISSA HEDERMAN (VICE PRESIDENT)

Highest reported compensation

  • MELISSA HEDERMAN (VICE PRESIDENT): $2,825 total reported compensation

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

Overview

Mission

To renovate, restore, refurnish, maintain, and/or improve the state of Mississippi governor's mansion and the governor's offices located in the walter sillers building and the state capitol - all public buildings owned by the state of Mississippi

What it reported doing in 2024

Restoration, renovation, refurbishment and decoration of the state of Mississippi's governor's mansion

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 52
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.3%; rating input score 49
  • Program expense ratio: 63.8%; rating input score 64
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 22.6%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 1.06; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: -0.4% per year; rating input score 0; 58th percentile among comparable filings
  • Asset growth: -13.2% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 49.3% of revenue deployed · 63.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $31K in reported program spending
  • Leadership: top reported pay $3K · 6 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 49/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.