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Choctaw County Economic Development Foundation FY2024 filing

Ackerman, MSUnknown exempt organization EIN 27-0048587Revenue $100K in FY2024

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

84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2024 · 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
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
32 mo
of spending, in cash
Looks good: 32.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3K
0.6% 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
$100K
+12% vs prior year
Spent
$83K
To programs
84%
Net assets
$533K
By yearFY2021–FY2025
Revenue
$100K
FY2024▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2021$74K
FY2022$102K
FY2023$89K
FY2024$100K
FY2025$125K
Expenses
$83K
FY2024▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2021$91K
FY2022$80K
FY2023$82K
FY2024$83K
FY2025$97K
Net assets
$533K
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2021$489K
FY2022$511K
FY2023$518K
FY2024$533K
FY2025$562K

From the FY2024 Form 990 (year ending March 2024) · see the original

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You’re viewing the FY2024 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

84 cents of each dollar spent went to programs.

Program services 84% · $70K Management & general 16% · $13K

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 (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Cristen Chandler
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 · FY2023
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 FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$100K
Ln 12
Gifts and grantsLn 1h$91K
Fees for servicesLn 2g$12K
Investment incomeLn 3$270
Money outPt IX
$83K
Ln 25
Programscol B$70K
Managementcol C$13K
Owns and owesPt X
$533K
net assets · Ln 32
Cash and savingsLn 1–2$225K
Total assetsLn 16$537K
LiabilitiesLn 26$3K
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$91K
Fees for servicesLn 2g$12K
Investment incomeLn 3$270
Total revenueLn 12$100K
Assets in detailPt X, end of year
CashLn 1$225K
Cash and savings togetherLn 1–2$225K
Land, buildings, equipmentLn 10c$312K
Total assetsLn 16$537K
LiabilitiesLn 26$3K
Net assetsLn 32$533K
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 FY24End FY24
Cash and savingsLn 1–2$218K$225K
Land, buildings, equipmentLn 10c$302K$312K
Total assetsLn 16$520K$537K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$518K$533K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$11K$11K
Legal feesLn 11b$7K$0$7K$0
Accounting feesLn 11c$6K$0$6K$0
Advertising and promotionLn 12$1K$1K$0$0
Office expensesLn 13$2K$2K$0$0
Information technologyLn 14$3K$3K$0$0
OccupancyLn 16$9K$9K$0$0
TravelLn 17$2K$2K$0$0
Depreciation, depletion and amortizationLn 22$18K$18K$0$0
InsuranceLn 23$12K$12K$0$0
Other expenses (24a–d)Ln 24$12K$12K$0$0
All other expensesLn 24e$878$848$30$0
Total functional expensesLn 25$83K$70K$13K$0

Filing history

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

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $99,647 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $93,199$91,146
I-9 Program service revenuePrior year $3,484$11,818
I-10 Investment incomePrior year $154$270
I-11 Other revenuePrior year −$7,888−$3,587
I-12 Total revenuePrior year $88,949$99,647
I-13 Grants and similar amounts paidPrior year $6,000$10,845
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $76,414$72,599
I-18 Total expensesPrior year $82,414$83,444
I-19 Revenue less expensesPrior year $6,535$16,203
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 $99,647 across 7 lines filed
Lines not itemized here account for $11,818 of total revenue; see the IRS return.
VIII-1b Membership dues$23,710
VIII-1d Related organizations$63,156
VIII-1f All other contributions, gifts and grants$4,280
VIII-1h Total contributions, gifts and grants$91,146
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$270
VIII-6 Net rental income or lossRelated to mission −$3,587−$3,587
VIII-12 Total revenueRelated to mission $8,501 · Unrelated business $0 · Excluded from tax $0$99,647
Part IX · Statement of functional expenses $83,444 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $10,845$10,845
IX-11b Legal feesPrograms $0 · Management $6,600 · Fundraising $0$6,600
IX-11c Accounting feesPrograms $0 · Management $6,350 · Fundraising $0$6,350
IX-12 Advertising and promotionPrograms $1,066 · Management $0 · Fundraising $0$1,066
IX-13 Office expensesPrograms $2,188 · Management $0 · Fundraising $0$2,188
IX-14 Information technologyPrograms $2,850 · Management $0 · Fundraising $0$2,850
IX-16 OccupancyPrograms $9,249 · Management $0 · Fundraising $0$9,249
IX-17 TravelPrograms $1,628 · Management $0 · Fundraising $0$1,628
IX-22 Depreciation, depletion and amortizationPrograms $17,583 · Management $0 · Fundraising $0$17,728
IX-23 InsurancePrograms $11,827 · Management $0 · Fundraising $0$11,827
IX-24 Other expenses (24a–d)Programs $12,235 · Management $0 · Fundraising $0$12,235
IX-24e All other expensesPrograms $848 · Management $30 · Fundraising $0$878
IX-25 Total functional expensesPrograms $70,319 · Management $12,980 · Fundraising $0$83,444
Part X · Balance sheet $536,617 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $218,024$224,669
X-10c Land, buildings and equipment, netStart of year $302,301$311,948
X-16 Total assetsStart of year $520,325$536,617
X-17 Accounts payable and accrued expensesStart of year $683$1,506
X-25 Other liabilitiesStart of year $2,050$1,650
X-26 Total liabilitiesStart of year $2,733$3,156
X-27 Net assets without donor restrictionsStart of year $516,297$532,500
X-28 Net assets with donor restrictionsStart of year $1,295$961
X-32 Total net assets or fund balancesStart of year $517,592$533,461
X-33 Total liabilities and net assetsStart of year $520,325$536,617
Part XI · Reconciliation of net assets $533,461 net assets at year end
XI-1 Total revenue$99,647
XI-2 Total expenses$83,444
XI-3 Revenue less expenses$16,203
XI-4 Net assets at start of year$517,592
XI-10 Net assets at end of year$533,461

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

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