Mid-America Development Foundation

Clarksdale, MSUnknown exempt organization EIN 37-1417926Latest return filed Jun 15, 2024

On file with the IRSPo Box 1886 · Clarksdale, MS

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To develop and provide quality housing, counseling, and financial services.

Mission: Form 990 Part I, line 1

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 3
filings with a surplus
Average deficit $84K a year · 54% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$0
-100% vs prior year
Spent
$48K
To programs
0%
Net assets
$0
By yearFY2020–FY2023
Revenue
$0
FY2023▼ -100%
Tap a bar for its year
Revenue by fiscal year
FY2020$196K
FY2021$444K
FY2022$19K
FY2023$0
Expenses
$48K
FY2023▼ -42%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$583K
FY2022$83K
FY2023$48K
Net assets
$0
FY2023▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$94K
FY2021$326K
FY2022$262K
FY2023$0

From the FY2023 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $48K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
See Mid-America 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

Develops and provides housing, counseling, and financial services.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

The organization recognizes the importance that education has on the body, mind, and spirit, and we believe that the academic and vocational education is a vital element by which poverty can be eliminated.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$0
Ln 12
Money outPt IX
$48K
Ln 25
Managementcol C$48K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Total revenueLn 12$0
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 51
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 FY23End FY23
Total assetsLn 16$262K$0
LiabilitiesLn 26$0$0
Net assetsLn 32$262K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$27K$27K
Accounting feesLn 11c$347$347
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$2K$2K
Other expenses (24a–d)Ln 24$17K$17K
All other expensesLn 24e$980$980
Total functional expensesLn 25$48K$0$48K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest ViewingFiled with the IRS Jun 15, 2024 $0$48K−$48K$0 990 PDF
FY2022Filed with the IRS May 6, 2023 $19K$83K−$64K$262K 990 PDF
FY2021Filed with the IRS Apr 16, 2022 $444K$583K−$139K$326K 990 PDF
FY2020Filed with the IRS Apr 9, 2022 $196K$94K 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 FY2023 990 (6 parts)
Part I · Summary $0 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$0
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$48,257
I-18 Total expenses$48,257
I-19 Revenue less expenses−$48,257
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $0 across 1 lines filed
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
Part IX · Statement of functional expenses $48,257 across 6 lines filed
IX-11a Management feesManagement $27,000$27,000
IX-11c Accounting feesManagement $347$347
IX-17 TravelManagement $1,414$1,414
IX-19 Conferences, conventions and meetingsManagement $2,000$2,000
IX-24 Other expenses (24a–d)Management $16,516$16,516
IX-24e All other expensesManagement $980$980
IX-25 Total functional expensesPrograms $0 · Management $48,257 · Fundraising $0$48,257
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $262,069$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $262,069$0
X-33 Total liabilities and net assetsStart of year $262,069$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$0
XI-2 Total expenses$48,257
XI-3 Revenue less expenses−$48,257
XI-4 Net assets at start of year$262,069
XI-7 Investment expenses−$213,812
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

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

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