Mississippi Association of Cooperatives Inc

Nonprofit profile at a glance

EIN
640516373
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Jackson, MS, USA
Phone
6019440599
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Agricultural Programs

Reported finances

Revenue
$1,714,843
Expenses
$926,221
Assets
$1,475,393
Liabilities
$63,078

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Jessica Foxx (President)
  • Sandra Bennett (Vice President)

Highest reported compensation

  • Darnella Winston (Project Director): $58,750 total reported compensation
  • Brittany Oatis (Field Accountant): $16,000 total reported compensation
  • Ben Burkett (State Coordinator): $8,167 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 administer and coordinate technical assistance, educational training and financial programs for small farmers.

What it reported doing in 2024

To build economically depressed rural communities and their residents throughout the state through cooperative development.

Operating model

Revenue model
Grant-funded. 62% of the money available for current operations came from government grants.
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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 29
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 71
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 24.9%; rating input score 25
  • Program expense ratio: 45.5%; rating input score 45
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 46%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 1.59; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: -5.8% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 20.4% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 24.9% of revenue deployed · 45.5% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $421K in reported program spending
  • Leadership: top reported pay $59K · 8 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 25/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 45/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.