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Hancock County Communitydevelopment Foundation

Tax-deductible

Bay St Louis, MS501(c)(3) EIN 20-4809220Revenue $197K in FY2024

On file with the IRS300 S Second St, 39520-4326 · Bay St Louis, MSTax-exempt since Jul 2006Publicly supported charity — 170(b)(1)(A)(vi)

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To promote and support the economic and community development, recovery, and rebuilding in Hancock County, and to assist communities in Hancock County with disaster recovery and stimulate community development and growth.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $29K a year · 10% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
22 mo
of spending, in cash
Looks good: 21.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$107K
32% of total assets
Looks good: liabilities are 32% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$197K
-56% vs prior year
Spent
$184K
To programs
78%
Net assets
$225K
By yearFY2020–FY2024
Revenue
$197K
FY2024▼ -56%
Tap a bar for its year
Revenue by fiscal year
FY2020$225K
FY2021$210K
FY2022$323K
FY2023$443K
FY2024$197K
Expenses
$184K
FY2024▼ -66%
Tap a bar for its year
Expenses by fiscal year
FY2020$339K
FY2021$206K
FY2022$275K
FY2023$537K
FY2024$184K
Net assets
$225K
FY2024▼ -30%
Tap a bar for its year
Net assets by fiscal year
FY2020$364K
FY2021$367K
FY2022$415K
FY2023$320K
FY2024$225K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $143K Management & general 22% · $41K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
Ray Wesson
President
$0Pt VII · Sec A
Cleland Powell
Board Member
$0Pt VII · Sec A
Meg Payment
Board Member
$0Pt VII · Sec A
Tami Munsch
Board Member
$0Pt VII · Sec A
Elise Deano
Board Member
$0Pt VII · Sec A
Mary Jane Mackey
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Tish Williams
Executive Director
$0Pt VII · Sec A
See Hancock County Communitydevelopment Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Boosts economic growth and aids disaster recovery in Hancock County.

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Provided by the organization

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3 programs · $143K · in their own filed words · FY2024
01

Pass through agencies program manages various contributions and donations that are passed-through to other organizations for the benefit of hancock county.

$83Kprogram expense
02

Incubation of not-for-profit causes program acts as an umbrella organization for various non-profit causes it has incubated ranging in focus from education to historic preservation as well as hancock county chamber committees help to support the various hancock county chamber committees.

$51Kprogram expense
03

Job generation fund program manages pass-through grants from federal and state agencies for purposes of economic development through the job generation fund that is passed to subrecipients in the form of forgivable loans.

$9Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$197K
Ln 12
Fees for servicesLn 2g$177K
Investment incomeLn 3$19K
Other incomeLn 4–11$700
Money outPt IX
$184K
Ln 25
Programscol B$143K
Managementcol C$41K
Owns and owesPt X
$225K
net assets · Ln 32
Cash and savingsLn 1–2$332K
Total assetsLn 16$332K
LiabilitiesLn 26$107K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$177K
Investment incomeLn 3$19K
Other incomeLn 4–11$700
Total revenueLn 12$197K
Assets in detailPt X, end of year
CashLn 1$162K
SavingsLn 2$170K
Cash and savings togetherLn 1–2$332K
Other assetsLn 15$0
Total assetsLn 16$332K
LiabilitiesLn 26$107K
Net assetsLn 32$225K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$379K$332K
Total assetsLn 16$570K$332K
LiabilitiesLn 26$250K$107K
Net assetsLn 32$320K$225K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$8K$8K
Accounting feesLn 11c$7K$7K
Office expensesLn 13$15K$15K
InterestLn 20$4K$4K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$143K$143K$559
Total functional expensesLn 25$184K$143K$41K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $197K$184K$13K$225K 990 PDF
FY2023 $443K$537K−$94K$320K 990 PDF
FY2022 $323K$275K$47K$415K 990 PDF
FY2021 $210K$206K$4K$367K 990 PDF
FY2020 $225K$339K−$114K$364K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $196,806 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $433,594$177,037
I-10 Investment incomePrior year $8,720$19,069
I-11 Other revenuePrior year $700$700
I-12 Total revenuePrior year $443,014$196,806
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $537,368$183,737
I-18 Total expensesPrior year $537,368$183,737
I-19 Revenue less expensesPrior year −$94,354$13,069
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $196,806 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $177,037$177,037
VIII-3 Investment incomeExcluded from tax $19,069$19,069
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $700$700
VIII-12 Total revenueRelated to mission $177,737 · Unrelated business $0 · Excluded from tax $19,069$196,806
Part IX · Statement of functional expenses $183,737 across 6 lines filed
IX-11a Management feesManagement $8,000$8,000
IX-11c Accounting feesManagement $7,392$7,392
IX-13 Office expensesManagement $15,245$15,245
IX-20 InterestManagement $3,696$3,696
IX-23 InsuranceManagement $6,025$6,025
IX-24 Other expenses (24a–d)Programs $142,820 · Management $559$143,379
IX-25 Total functional expensesPrograms $142,820 · Management $40,917 · Fundraising $0$183,737
Part X · Balance sheet $332,230 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $279,295$162,230
X-2 Savings and temporary cash investmentsStart of year $100,000$170,000
X-15 Other assetsStart of year $185,018$0
X-16 Total assetsStart of year $570,263$332,230
X-17 Accounts payable and accrued expensesStart of year $158,251$8,884
X-25 Other liabilitiesStart of year $91,761$97,892
X-26 Total liabilitiesStart of year $250,012$106,776
X-27 Net assets without donor restrictionsStart of year $247,455$151,373
X-28 Net assets with donor restrictionsStart of year $72,796$74,081
X-32 Total net assets or fund balancesStart of year $320,251$225,454
X-33 Total liabilities and net assetsStart of year $570,263$332,230
Part XI · Reconciliation of net assets $225,454 net assets at year end
XI-1 Total revenue$196,806
XI-2 Total expenses$183,737
XI-3 Revenue less expenses$13,069
XI-4 Net assets at start of year$320,251
XI-8 Prior period adjustments−$107,866
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$225,454

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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