Area Development Partnership INC

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EIN 57-0884979 Business league / trade association Hattiesburg, MS
Form 990 (PDF)

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Revenue & expenses by yearFY2020–FY2024
Revenue
$2.4M
FY2024▼ -3%
Expenses
$2.5M
FY2024▲ +4%

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).


Boosts local economies by encouraging and supporting community participation. For fiscal year 2024 it reported $2.4M in revenue, $2.5M in expenses, and $1.2M in net assets.Pt I

Type
Business league / trade association · Nonprofit
Location
Hattiesburg, MS
Website
www.theadp.com
Filings
5 on file (2020–2024)
Revenue
$2.4MFY2024
Expenses
$2.5M
Net assets
$1.2M
People
23
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Figures match the IRS filing checked 9/2/26 · see original: IRS
Provided by the organization

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Size
$1–10M
What they do
Boosts local economies by encouraging and supporting community participation.
Leadership
Chad Newell · President · $363K
Money in and out
$2.4M revenue, $2.5M expenses
Bottom line
-3% operating surplus

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

WARNING

No — not deductible

IRS records this as a A business league, chamber of commerce, or trade association. Contributions are generally not tax-deductible.; contributions are not deductible as charitable gifts. See detail →

Can I donate to this org right now?

GOOD

No revocation on IRS record

This EIN does not appear on the IRS auto-revocation list. See detail →

Is this organization up to date?

GOOD

Filed FY2024 (typical filing lag)

Most recent Form 990 on file is for fiscal year 2024 (2 years ago). See detail →

Is it receiving grants from reputable foundations?

GOOD

1 funder — Partnership Foundation INC

1 distinct foundation funder(s) on file, $745K received in the most recent year with grants. See detail →

How is the money spent?

NEUTRAL

Not on file

Program vs. overhead split is not on file for this EIN's most recent filing. See detail →

What's its financial size and trend?

NEUTRAL

$1–10M · ↓ -3% vs prior year

Revenue band $1–10M, -3% versus the prior filing year (down). See detail →

Membership & operating revenue · FY2024
Total revenue
$2.4M
Pt VIII · Ln 12
Total expenses
$2.5M
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$64K
Operating surplus
-3%
revenue over expenses▼ -156% vs prior filing year
Earned revenue
67%
of revenue from program services & dues▼ -1% vs prior filing year
Payroll share
58%
of spending is salaries & benefits▼ -1% vs prior filing year

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Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$1.7M
FY2024▼ -13%
Total liabilities
$530K
FY2024▼ -26%
Revenue less expensesPt I · Ln 19−$64K
Total assetsPt X · Ln 16$1.7M
Program-expense ratioPt IX · col B—
Voting members of governing bodyPt I · Ln 323
Independent voting membersPt I · Ln 422

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CArea Development Partnership INC
EINHdr · item D57-0884979
Principal addressHdr · item CHattiesburg, MS
WebsiteHdr · item Jwww.theadp.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMS
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFMay 1989

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a23
Independent voting membersPt VI · Ln 1b22
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$363,108Pt VII · Sec A
Vice President
$208,979Pt VII · Sec A
$94,586Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Vice-Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Past Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Chad Newell$363,108—————
Chad Newell—$350,008$347,000$326,197$301,261$268,736
Jason Jackson$208,979—————
Todd Jackson—$198,987$180,787$176,552$169,922—
Gwen Hicks$94,586—————
Jan Delancey——$43,473$83,433$83,855—
Gwen Hicks—$80,953$71,541———

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.

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Mission & Programs · Part III

Where the work happens

2 program services, described in the organization's own filed words · FY2024.
01

Chamber

Facilitated numerous professional development programs for area young professionals, small business owners, membership; organized and hosted member events with opportunities for networking, sharing strategies for success; organized and hosted ribbon cuttings for new and expanded businesses; recruitment and retention of ADP membership.

Pt IX · col B
02

Economic Development

Recruitment of domestic and international businesses; workforce development programs and events connecting students and teachers to area employers; community, military, and government relations.

Pt IX · col B

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Statement of Revenue

Part VIII
Program service revenue$1.6M · 67%
Contributions & grants$745K · 31%
Investment income$48K · 2%
Program service revenue67%$1.6M
Contributions & grants31%$745K
Investment income2%$48K
Total revenueLn 12$2.4M

Balance Sheet

Part X · end of year
CashLn 1$1.2M
Total assetsLn 16$1.7M
Total liabilitiesLn 26$530K
Total net assetsLn 32$1.2M
Months of cash on handcomputed5.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.3M · Operating expenses/yr $2.5M
6.1 months
Where the money goes
Program services
Program services $0 · Total expenses $2.5M
not reported
Management & General
Management & general $0 · Total expenses $2.5M
not reported
Fundraising
Fundraising $0 · Total expenses $2.5M
not reported
Cost to raise $1
Fundraising expense $0 · Solicited contributions $745K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $745K · Total revenue $2.4M
31%
Government reliance
Government grants — · Total revenue $2.4M
—
Earned-income share
Program service revenue $1.6M · Total revenue $2.4M
67%
Investment reliance
Investment income $48K · Total revenue $2.4M
+2%
Program self-sufficiency
Program service revenue $1.6M · Total expenses $2.5M
65%
Growth & trend
Revenue growth (YoY)
This year $2.4M · Prior year $2.5M
-3%
Revenue CAGR
FY2019 $1.8M · FY2024 $2.4M
+7%
Net-asset trend (YoY)
End of year $1.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.4M · Expenses $2.5M
-3%
Liabilities-to-Assets
Total liabilities — · Total assets $1.7M
—
Net-asset ratio
Net assets $1.2M · Total assets $1.7M
69%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $111K · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.7M
6%
People & payroll
Highest Reported Total Compensation
Individual Chad Newell · Reported title President · Highest reported compensation $363K · Total expenses $2.5M
15%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.4M · Total expenses $2.5M
58%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth -3%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$745K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$2.5M revenue · ⤓ 990 PDF
FY2023$2.5M revenue · ⤓ 990 PDF
FY2022$2.4M revenue · ⤓ 990 PDF
FY2021$2.0M revenue · ⤓ 990 PDF
FY2020$1.8M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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