Millsaps College

Nonprofit profile at a glance

EIN
640303084
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2007
Location
Jackson, MS, USA
Phone
6019741105
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$55,576,540
Expenses
$53,180,196
Assets
$212,871,150
Liabilities
$33,723,288

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

Leadership & pay

53 people listed

Executive titles in this filing

  • DR KEITH DUNN (INTERIM PRESIDENT)
  • FRANK NEVILLE (PRESIDENT)

Highest reported compensation

  • DR KEITH DUNN (INTERIM PRESIDENT): $280,965 total reported compensation
  • HARVEY FISER (DEAN ELSE SCHOOL MANAGEMENT): $252,051 total reported compensation
  • FRANK NEVILLE (PRESIDENT): $236,234 total reported compensation

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

Overview

Mission

Millsaps college is dedicated to academic excellence, to open inquiry and free expression, to the exploration of faith to inform vocation, and to the innovative shaping of the social, economic, and cultural progress of our region.

What it reported doing in 2024

Educational facilities and personnel providing an ideal atmosphere for learning for approximately 580 students. This is achieved with one teacher for every 8 students and an average class size of 10.

Operating model

Revenue model
Other-operating. 73% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 81
  • Accountability: 100
  • Sustainability: 60
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.3%; rating input score 94
  • Program expense ratio: 75%; rating input score 75
  • Fundraising efficiency: $2.75 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 33rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.3%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 4; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: -1.6% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 9th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 94.3% of revenue deployed · 75% of spending went to programs
  • Governance: 39 of 39 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $39.9M in reported program spending
  • Leadership: top reported pay $281K · 53 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.3M reported
  • Consistency: 42 of 44 current checks pass · 2 findings to review
  • Schedules: 12 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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 — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D revenue reconciliation did not reconcile in the filed values.