Natchez INC FY2023 filing

Not tax-deductible

Natchez, MS501(c)(6)Community DevelopmentEIN 27-1683576Revenue $414K in FY2023

On file with the IRSnatchezinc.com100 S Pearl St, 39120-3431 · Natchez, MSTax-exempt since Dec 2010

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The organization's sole purpose is to foster economic development in Natchez and Adams County by combining the efforts of public and private support.

79¢ of each $1 spent went to programs.
$177K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
1 of 5
filings with a surplus
Average deficit $21K a year · 5% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$177K
to officers and key staff · 37% of spending
Concern: pay to officers and key staff is 37% of spending; over 30%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$125K
34% of total assets
Looks good: liabilities are 34% 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
$414K
+2% vs prior year
Spent
$474K
To programs
79%
Net assets
$238K
By yearFY2020–FY2025
Revenue
$414K
FY2023▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$431K
FY2021$511K
FY2022$462K
FY2023$405K
FY2023$414K
FY2025$437K
Expenses
$474K
FY2023▼ -10%
Tap a bar for its year
Expenses by fiscal year
FY2020$439K
FY2021$443K
FY2022$486K
FY2023$528K
FY2023$474K
FY2025$452K
Net assets
$238K
FY2023▼ -20%
Tap a bar for its year
Net assets by fiscal year
FY2020$377K
FY2021$446K
FY2022$422K
FY2023$298K
FY2023$238K
FY2025$223K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 ruling in Dec 2010.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $375K Management & general 21% · $98K

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

8 people listed on the 990; $177K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$176,682Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A

Chandler Russ’s $177K as Executive Di is at the 95th percentile of top reported officer pay among 1708 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2023FY2023FY2022FY2021FY2020
Chandler Russ$176,682$176,682$183,000$182,349$165,500$165,500

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Natchez INC 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

Drives economic growth in Natchez and Adams County through public and private partnerships.

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Provided by the organization

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2 programs · $375K · in their own filed words · FY2023
01

The organiztion's sole purpose is to foster economic development in Natchez and Adams County, and Vidilia and Concordia Parish, by combining the efforts of public and private support.

$375Kprogram expense
02

The mission of Natchez, Inc. is to improve economic development opportunities for Natchez and Adams County through the advancement of commercial, industrial, agricultural and civic interest or the City and County.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$414K
Ln 12
Gifts and grantsLn 1h$410K
Investment incomeLn 3$3K
Fees for servicesLn 2g$500
Money outPt IX
$474K
Ln 25
Programscol B$375K
Managementcol C$98K
Owns and owesPt X
$238K
net assets · Ln 32
Cash and savingsLn 1–2$248K
Total assetsLn 16$363K
LiabilitiesLn 26$125K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$410K
Fees for servicesLn 2g$500
Investment incomeLn 3$3K
Total revenueLn 12$414K
Assets in detailPt X, end of year
CashLn 1$116K
SavingsLn 2$132K
Cash and savings togetherLn 1–2$248K
Land, buildings, equipmentLn 10c$13K
Total assetsLn 16$363K
LiabilitiesLn 26$125K
Net assetsLn 32$238K
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 FY23End FY23
Cash and savingsLn 1–2$288K$248K
Land, buildings, equipmentLn 10c$21K$13K
Total assetsLn 16$435K$363K
LiabilitiesLn 26$137K$125K
Net assetsLn 32$298K$238K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$289K$289K
Pension plan contributionsLn 8$9K$9K
Other employee benefitsLn 9$34K$34K
Payroll taxesLn 10$21K$21K
Accounting feesLn 11c$19K$19K
Other fees for servicesLn 11g$4K$2K$2K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$16K$775$15K
Information technologyLn 14$950$950
OccupancyLn 16$12K$12K
TravelLn 17$13K$2K$11K
Conferences, conventions and meetingsLn 19$2K$2K
Depreciation, depletion and amortizationLn 22$15K$15K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$25K$12K$14K
All other expensesLn 24e$975$975
Total functional expensesLn 25$474K$375K$98K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $437K$452K−$15K$223K 990 PDF
FY2024 Not on file
FY2023 $405K$528K−$123K$298K 990 PDF
FY2022 $462K$486K−$24K$422K 990 PDF
FY2021 $511K$443K$68K$446K 990 PDF
FY2020 $431K$439K−$8K$377K 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 FY2023 990 (6 parts)
Part I · Summary $413,748 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $395,000$410,236
I-9 Program service revenuePrior year $9,308$500
I-10 Investment incomePrior year $641$3,012
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $404,949$413,748
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 $359,237$353,554
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $169,069$120,377
I-18 Total expensesPrior year $528,306$473,931
I-19 Revenue less expensesPrior year −$123,357−$60,183
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 $413,748 across 5 lines filed
VIII-1b Membership dues$410,236
VIII-1h Total contributions, gifts and grants$410,236
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $500$500
VIII-3 Investment incomeRelated to mission $3,012$3,012
VIII-12 Total revenueRelated to mission $3,512 · Unrelated business $0 · Excluded from tax $0$413,748
Part IX · Statement of functional expenses $473,931 across 16 lines filed
IX-7 Other salaries and wagesPrograms $289,476$289,476
IX-8 Pension plan contributionsPrograms $8,660$8,660
IX-9 Other employee benefitsPrograms $34,347$34,347
IX-10 Payroll taxesPrograms $21,071$21,071
IX-11c Accounting feesManagement $19,398$19,398
IX-11g Other fees for servicesPrograms $2,470 · Management $2,020$4,490
IX-12 Advertising and promotionPrograms $5,329$5,329
IX-13 Office expensesPrograms $775 · Management $15,274$16,049
IX-14 Information technologyManagement $950$950
IX-16 OccupancyManagement $12,000$12,000
IX-17 TravelPrograms $1,774 · Management $10,749$12,523
IX-19 Conferences, conventions and meetingsManagement $1,909$1,909
IX-22 Depreciation, depletion and amortizationManagement $15,428$15,428
IX-23 InsuranceManagement $6,104$6,104
IX-24 Other expenses (24a–d)Programs $11,563 · Management $13,659$25,222
IX-24e All other expensesManagement $975$975
IX-25 Total functional expensesPrograms $375,465 · Management $98,466 · Fundraising $0$473,931
Part X · Balance sheet $363,230 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $157,573$116,091
X-2 Savings and temporary cash investmentsStart of year $130,062$132,203
X-4 Accounts receivableStart of year $119,616$100,000
X-10c Land, buildings and equipment, netStart of year $21,439$12,838
X-14 Intangible assetsStart of year $6,804$2,098
X-16 Total assetsStart of year $435,494$363,230
X-17 Accounts payable and accrued expensesStart of year $1,220$1,374
X-24 Unsecured notes and loans payableStart of year $8,275$5,040
X-25 Other liabilitiesStart of year $127,609$118,609
X-26 Total liabilitiesStart of year $137,104$125,023
X-27 Net assets without donor restrictionsStart of year $294,013$233,830
X-28 Net assets with donor restrictionsStart of year $4,377$4,377
X-32 Total net assets or fund balancesStart of year $298,390$238,207
X-33 Total liabilities and net assetsStart of year $435,494$363,230
Part XI · Reconciliation of net assets $238,207 net assets at year end
XI-1 Total revenue$413,748
XI-2 Total expenses$473,931
XI-3 Revenue less expenses−$60,183
XI-4 Net assets at start of year$298,390
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$238,207

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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