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Biloxi Community Development Corp FY2022 filing

Tax-deductible

Biloxi, MS501(c)(3)HousingEIN 31-1641324Revenue $1.9M in FY2022

On file with the IRSbiloxi.ms.usPo Box 447, 39533-0447 · Biloxi, MSTax-exempt since May 1999Publicly supported charity — 170(b)(1)(A)(vi)

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To promote and support the Development and management of quality affordable housing in the city of Biloxi, ms.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
0 of 5
filings with a surplus
Average deficit $856K a year · 34% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.8M
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
-4% vs prior year
Spent
$2.7M
To programs
82%
Net assets
$17.8M
By yearFY2020–FY2024
Revenue
$1.9M
FY2022▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.0M
FY2021$2.0M
FY2022$1.9M
FY2023$2.2M
FY2024$4.5M
Expenses
$2.7M
FY2022▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.5M
FY2021$2.7M
FY2022$2.7M
FY2023$3.3M
FY2024$5.7M
Net assets
$17.8M
FY2022▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$19.1M
FY2021$18.5M
FY2022$17.8M
FY2023$14.1M
FY2024$5.2M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1999.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $2.2M Management & general 18% · $502K

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

12 people listed on the 990.

Part VII, Section A · reportable compensation
Arlene Canaan
Commissioner
$0Pt VII · Sec A
Eula Crowell
Commissioner
$0Pt VII · Sec A
$0Pt VII · Sec A
Rodney McGilvary
Commissioner
$0Pt VII · Sec A
$0Pt VII · Sec A
Clarence Taylor
Commissioner
$0Pt VII · Sec A
Robert Tucei
Commissioner
$0Pt VII · Sec A
Arlene Wall
Vice Chairma
$0Pt VII · Sec A
See Biloxi Community Development Corp 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

Develops and manages quality affordable housing in Biloxi, Mississippi.

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1 program · $2.2M · in their own filed words · FY2022
01

To promote and support the development and management of quality affordable housing in the city of biloxi, MS.

$2.2Mprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.9M
Ln 12
Fees for servicesLn 2g$2.0M
Investment incomeLn 3$24K
Money outPt IX
$2.7M
Ln 25
Programscol B$2.2M
Managementcol C$502K
Owns and owesPt X
$17.8M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$20.6M
LiabilitiesLn 26$2.8M
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.0M
Investment incomeLn 3$24K
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
CashLn 1$525K
SavingsLn 2$772K
Cash and savings togetherLn 1–2$1.3M
InvestmentsLn 11–13−$77K
Land, buildings, equipmentLn 10c$16.4M
Other assetsLn 15$2.8M
Total assetsLn 16$20.6M
LiabilitiesLn 26$2.8M
Net assetsLn 32$17.8M
OperationsPt I, VI
EmployeesI 54
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.1M$1.3M
InvestmentsLn 11–13$19K−$77K
Land, buildings, equipmentLn 10c$17.2M$16.4M
Total assetsLn 16$20.4M$20.6M
LiabilitiesLn 26$1.8M$2.8M
Net assetsLn 32$18.5M$17.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$466K$114K$352K
Payroll taxesLn 10$165K$51K$114K
Legal feesLn 11b$16K$16K
Accounting feesLn 11c$9K$6K$3K
Advertising and promotionLn 12$64$64
Office expensesLn 13$43K$42K$1K
OccupancyLn 16$658K$658K
TravelLn 17$16K$9K$7K
Conferences, conventions and meetingsLn 19$8K$8K
Depreciation, depletion and amortizationLn 22$780K$780K
InsuranceLn 23$465K$465K
Other expenses (24a–d)Ln 24$98K$87K$10K
All other expensesLn 24e−$933−$933
Total functional expensesLn 25$2.7M$2.2M$502K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $4.5M$5.7M−$1.2M$5.2M 990 PDF
FY2023 $2.2M$3.3M−$1.1M$14.1M 990 PDF
FY2022 Viewing $1.9M$2.7M−$780K$17.8M 990 PDF
FY2021 $2.0M$2.7M−$648K$18.5M 990 PDF
FY2020 $2.0M$2.5M−$574K$19.1M 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 FY2022 990 (6 parts)
Part I · Summary $1,941,874 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $2,033,036$2,009,925
I-10 Investment incomePrior year $13,733$24,446
I-11 Other revenuePrior year −$24,867−$92,497
I-12 Total revenuePrior year $2,021,902$1,941,874
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $667,533$630,537
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,002,692$2,091,061
I-18 Total expensesPrior year $2,670,225$2,721,598
I-19 Revenue less expensesPrior year −$648,323−$779,724
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,941,874 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,009,925$2,009,925
VIII-3 Investment incomeExcluded from tax $24,446$24,446
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$92,497−$92,497
VIII-12 Total revenueRelated to mission $1,917,428 · Excluded from tax $24,446$1,941,874
Part IX · Statement of functional expenses $2,721,598 across 13 lines filed
IX-7 Other salaries and wagesPrograms $114,463 · Management $351,520$465,983
IX-10 Payroll taxesPrograms $50,756 · Management $113,798$164,554
IX-11b Legal feesManagement $16,184$16,184
IX-11c Accounting feesPrograms $5,594 · Management $2,975$8,569
IX-12 Advertising and promotionPrograms $64$64
IX-13 Office expensesPrograms $41,730 · Management $1,063$42,793
IX-16 OccupancyPrograms $658,240$658,240
IX-17 TravelPrograms $8,805 · Management $6,912$15,717
IX-19 Conferences, conventions and meetingsPrograms $7,774$7,774
IX-22 Depreciation, depletion and amortizationPrograms $779,896$779,896
IX-23 InsurancePrograms $465,217$465,217
IX-24 Other expenses (24a–d)Programs $87,499 · Management $10,041$97,540
IX-24e All other expensesPrograms −$933−$933
IX-25 Total functional expensesPrograms $2,219,105 · Management $502,493 · Fundraising $0$2,721,598
Part X · Balance sheet $20,620,115 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $484,607$524,885
X-2 Savings and temporary cash investmentsStart of year $574,719$772,308
X-4 Accounts receivableStart of year $3,452$78,853
X-9 Prepaid expenses and deferred chargesStart of year $122,523$126,446
X-10c Land, buildings and equipment, netStart of year $17,152,625$16,406,780
X-13 Program-related investmentsStart of year $19,356−$76,505
X-15 Other assetsStart of year $2,007,027$2,787,348
X-16 Total assetsStart of year $20,364,309$20,620,115
X-19 Deferred revenueStart of year $41,163$8,005
X-25 Other liabilitiesStart of year $1,782,546$2,811,647
X-26 Total liabilitiesStart of year $1,823,709$2,819,652
X-27 Net assets without donor restrictionsStart of year $18,540,600$17,800,463
X-32 Total net assets or fund balancesStart of year $18,540,600$17,800,463
X-33 Total liabilities and net assetsStart of year $20,364,309$20,620,115
Part XI · Reconciliation of net assets $17,800,463 net assets at year end
XI-1 Total revenue$1,941,874
XI-2 Total expenses$2,721,598
XI-3 Revenue less expenses−$779,724
XI-4 Net assets at start of year$18,540,600
XI-9 Other changes in net assets$39,587
XI-10 Net assets at end of year$17,800,463

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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