Jackson County Economic Development Foundation Inc

Nonprofit profile at a glance

EIN
640838516
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Pascagoula, MS, USA
Phone
2287696263
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$1,500,254
Expenses
$1,713,609
Assets
$4,546,120
Liabilities
$1,186,986

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

Leadership & pay

17 people listed

Executive titles in this filing

  • GEORGE L FREELAND JR (CEO)

Highest reported compensation

  • GEORGE L FREELAND JR (CEO): $441,788 total reported compensation
  • MARY MARTHA HENSON (DEPUTY DIREC): $267,703 total reported compensation

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

Overview

Mission

Improving the economic development opportunities of jackson county, Mississippi by unifying planning, economic & industrial development, and marketing activities in the county.

What it reported doing in 2024

The foundation has implemented a retention & expansion program, identified optimal sites for new industry, established a "red carpet" buiness recruitment team, and worked with other non porfit organizations with county improvements. Also, received and expended advertising grants to promote the county.

Operating model

Revenue model
Donor-supported. 61% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 61
  • Accountability: 86
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.9%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -14.2%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 2.65; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 41.4%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 5.2% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.9% of spending went to programs
  • Governance: 15 of 15 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $442K · 17 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $314K reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.