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Choctaw County Economic Development Foundation FY2021 filing

Ackerman, MSUnknown exempt organizationEIN 27-0048587Revenue $74K in FY2021

On file with the IRSchoctawcountyms.comPo Box 737 · Ackerman, MS

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CCEDF was formed in 1987 to accept private contributions in support of economic development and conduct certain activities which the governmental economic development district are not permitted

91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $11K a year · 11% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
21 mo
of spending, in cash
Looks good: 21.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$74K
Spent
$91K
To programs
91%
Net assets
$489K
By yearFY2021–FY2025
Revenue
$74K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$74K
FY2022$102K
FY2023$89K
FY2024$100K
FY2025$125K
Expenses
$91K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$91K
FY2022$80K
FY2023$82K
FY2024$83K
FY2025$97K
Net assets
$489K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$489K
FY2022$511K
FY2023$518K
FY2024$533K
FY2025$562K

From the FY2021 Form 990 (year ending March 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $83K Management & general 9% · $8K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Dianne Chanceloor
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Cheryl McIntire
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Choctaw County Economic Development 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 15aNo

Programs and updates

Supports economic development through private contributions and activities government districts cannot perform.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

The foundation owns and maintains the community center for choctaw county. The facility is rented out to various groups and businesses to promote choctaw county as a destination.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$74K
Ln 12
Gifts and grantsLn 1h$72K
Fees for servicesLn 2g$7K
Money outPt IX
$91K
Ln 25
Programscol B$83K
Managementcol C$8K
Owns and owesPt X
$489K
net assets · Ln 32
Cash and savingsLn 1–2$160K
Total assetsLn 16$495K
LiabilitiesLn 26$6K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$72K
Fees for servicesLn 2g$7K
Total revenueLn 12$74K
Assets in detailPt X, end of year
CashLn 1$160K
Cash and savings togetherLn 1–2$160K
Land, buildings, equipmentLn 10c$336K
Total assetsLn 16$495K
LiabilitiesLn 26$6K
Net assetsLn 32$489K
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderMarch
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 FY21End FY21
Cash and savingsLn 1–2$155K$160K
Land, buildings, equipmentLn 10c$353K$336K
Total assetsLn 16$508K$495K
LiabilitiesLn 26$3K$6K
Net assetsLn 32$506K$489K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14K$14K
Legal feesLn 11b$5K$5K$400$0
Accounting feesLn 11c$6K$5K$750$0
Advertising and promotionLn 12$2K$2K$0$0
Office expensesLn 13$750$600$150$0
Information technologyLn 14$2K$1K$606$0
OccupancyLn 16$8K$7K$557$0
TravelLn 17$2K$2K$0$0
Depreciation, depletion and amortizationLn 22$18K$17K$1K$0
InsuranceLn 23$9K$5K$4K$0
Other expenses (24a–d)Ln 24$13K$13K$227$0
All other expensesLn 24e$12K$12K$548$0
Total functional expensesLn 25$91K$83K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $125K$97K$29K$562K 990 PDF
FY2024 $100K$83K$16K$533K 990 PDF
FY2023 $89K$82K$7K$518K 990 PDF
FY2022 $102K$80K$22K$511K 990 PDF
FY2021 Viewing $74K$91K−$18K$489K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $73,697 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $77,985$72,220
I-9 Program service revenuePrior year $8,870$7,450
I-10 Investment income$0
I-11 Other revenuePrior year $3,071−$5,973
I-12 Total revenuePrior year $89,926$73,697
I-13 Grants and similar amounts paidPrior year $9,371$14,049
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $75,305$77,219
I-18 Total expensesPrior year $84,676$91,268
I-19 Revenue less expensesPrior year $5,250−$17,571
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $73,697 across 5 lines filed
Lines not itemized here account for $7,450 of total revenue; see the IRS return.
VIII-1b Membership dues$18,710
VIII-1d Related organizations$53,510
VIII-1h Total contributions, gifts and grants$72,220
VIII-6 Net rental income or lossRelated to mission −$5,973−$5,973
VIII-12 Total revenueRelated to mission −$5,973 · Unrelated business $0 · Excluded from tax $0$73,697
Part IX · Statement of functional expenses $91,268 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $14,049$14,049
IX-11b Legal feesPrograms $5,000 · Management $400 · Fundraising $0$5,400
IX-11c Accounting feesPrograms $4,750 · Management $750 · Fundraising $0$5,500
IX-12 Advertising and promotionPrograms $1,765 · Management $0 · Fundraising $0$1,765
IX-13 Office expensesPrograms $600 · Management $150 · Fundraising $0$750
IX-14 Information technologyPrograms $1,010 · Management $606 · Fundraising $0$1,616
IX-16 OccupancyPrograms $7,000 · Management $557 · Fundraising $0$7,557
IX-17 TravelPrograms $1,770 · Management $0 · Fundraising $0$1,770
IX-22 Depreciation, depletion and amortizationPrograms $17,000 · Management $1,194 · Fundraising $0$18,194
IX-23 InsurancePrograms $5,000 · Management $3,997 · Fundraising $0$8,997
IX-24 Other expenses (24a–d)Programs $13,095 · Management $227 · Fundraising $0$13,322
IX-24e All other expensesPrograms $11,800 · Management $548 · Fundraising $0$12,348
IX-25 Total functional expensesPrograms $82,839 · Management $8,429 · Fundraising $0$91,268
Part X · Balance sheet $495,272 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $154,775$159,579
X-10c Land, buildings and equipment, netStart of year $353,471$335,693
X-16 Total assetsStart of year $508,246$495,272
X-17 Accounts payable and accrued expensesStart of year $1,594$2,209
X-25 Other liabilitiesStart of year $1,050$4,125
X-26 Total liabilitiesStart of year $2,644$6,334
X-27 Net assets without donor restrictionsStart of year $505,602$488,031
X-28 Net assets with donor restrictions$907
X-32 Total net assets or fund balancesStart of year $505,602$488,938
X-33 Total liabilities and net assetsStart of year $508,246$495,272
Part XI · Reconciliation of net assets $488,938 net assets at year end
XI-1 Total revenue$73,697
XI-2 Total expenses$91,268
XI-3 Revenue less expenses−$17,571
XI-4 Net assets at start of year$505,602
XI-9 Other changes in net assets$907
XI-10 Net assets at end of year$488,938

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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