Area Development Partnership INC FY2021 filing

Not tax-deductible

Hattiesburg, MS501(c)(6)EIN 57-0884979

Enhance economic growth and development through enrichment of community involvement and support

56¢ of each $1 spent went to programs.
$555K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
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
4 of 5
filings with a surplus
Average surplus $87K a year · 4% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
56%
of spending
Worth a look: 56% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$555K
to officers and key staff · 30% of spending
Worth a look: pay to officers and key staff is 30% of spending; over 20%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $745K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$673K
49% of total assets
Looks good: liabilities are 49% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 23 voting members
Looks good: 22 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
+11% vs prior year
Spent
$1.8M
To programs
56%
Net assets
$708K
By yearFY2020–FY2024
Revenue
$2.0M
FY2021▲ +11%
Revenue by fiscal year
FY2020$1.8M
FY2021$2.0M
FY2022$2.4M
FY2023$2.5M
FY2024$2.5M
FY2024$2.4M
Expenses
$1.8M
FY2021▼ -1%
Expenses by fiscal year
FY2020$1.9M
FY2021$1.8M
FY2022$2.2M
FY2023$2.4M
FY2024$2.4M
FY2024$2.5M
Net assets
$708K
FY2021▼ -4%
Net assets by fiscal year
FY2020$739K
FY2021$708K
FY2022$1000K
FY2023$1.1M
FY2024$1.2M
FY2024$1.2M

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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Status and standing

Is it real, and can you give to it?

Tax-deductible?
No
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CArea Development Partnership INC
EINHdr · item D57-0884979
Exempt statusHdr · item I501(c)(6) · active
Ruling yearIRS BMFMay 1989
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CHattiesburg, MS
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.theadp.com

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.56
Program services56%$1.0M
Total functional expensesLn 25$1.8M

Financial health

Is it on solid ground?

Operating surplus
+6%
revenue over expenses
Earned revenue
63%
of revenue from program services & dues
Payroll share
70%
of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$1.4M
FY2021▲ +40%
Total assets by fiscal year
FY2020$989K
FY2021$1.4M
FY2022$1.5M
FY2023$1.8M
FY2024$2.0M
FY2024$1.7M
Total liabilities
$673K
FY2021▲ +168%
Total liabilities by fiscal year
FY2020$250K
FY2021$673K
FY2022$490K
FY2023$659K
FY2024$719K
FY2024$530K
Revenue less expensesPt I · Ln 19$119K
Total assetsPt X · Ln 16$1.4M
Program-expense ratioPt IX · col B56%
Voting members of governing bodyPt I · Ln 323
Independent voting membersPt I · Ln 422

Balance Sheet

Part X · end of year
CashLn 1$997K
Total assetsLn 16$1.4M
Total liabilitiesLn 26$673K
Total net assetsLn 32$708K
Months of cash on handcomputed6.5

Statement of Revenue

Part VIII
Program service revenue$1.2M · 63%
Contributions & grants$700K · 36%
Investment income$24K · 1%
Program service revenue63%$1.2M
Contributions & grants36%$700K
Investment income1%$24K
— government grantsLn 1e$100K
Total revenueLn 12$2.0M

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.2M · Operating expenses/yr $1.8M
7.7 months
Where the money goes
Program services
Program services — · Total expenses $1.8M
—
Management & General
Management & general — · Total expenses $1.8M
—
Fundraising
Fundraising — · Total expenses $1.8M
—
Cost to raise $1
Fundraising expense — · Solicited contributions —
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $700K · Total revenue $2.0M
36%
Government reliance
Government grants $100K · Total revenue $2.0M
5%
Earned-income share
Program service revenue $1.2M · Total revenue $2.0M
63%
Investment reliance
Investment income $24K · Total revenue $2.0M
+1%
Program self-sufficiency
Program service revenue $1.2M · Total expenses $1.8M
67%
Growth & trend
Revenue growth (YoY)
This year $2.0M · Prior year $1.8M
+11%
Net-asset trend (YoY)
End of year $708K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.0M · Expenses $1.8M
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $1.4M
—
Net-asset ratio
Net assets $708K · Total assets $1.4M
51%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $177K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.4M
13%
People & payroll
Highest Reported Total Compensation
Individual Chad Newell · Reported title PRESIDENT · Highest reported compensation $301K · Total expenses $1.8M
16%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.3M · Total expenses $1.8M
70%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 56%——
Fundraising cost ratio 0%——
Revenue growth 11%——
Legal fee ratio 0.05%——
Accounting fee ratio 0.8%——
Fundraising fee ratio 5%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President
$301,261Pt VII · Sec A
Executive Vice President
$169,922Pt VII · Sec A
VP of Finance and Administration
$83,855Pt VII · Sec A
Executive Committee
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Executive Committee
$0Pt VII · Sec A
Executive Committee
$0Pt VII · Sec A
Executive Committee
$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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Governance & Policies

Part VI
  • 23Voting board membersPt VI · Ln 1a
  • 22Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Boosts local economies by encouraging and supporting community participation.

Provided by the organization

This section is blank until Area Development Partnership INC claims this page.

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Mission & Programs · Part III

Where the work happens

2 program services account for $1.0M of program spending, described in the organization's own filed words · FY2020.
01

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.

$533Kprogram expense
02

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.

$502Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

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

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $2.5M$2.4M+2% 990 PDF
FY2023 $2.5M$2.4M+0.5% 990 PDF
FY2022 $2.4M$2.2M+25% 990 PDF
FY2021 Viewing $2.0M$1.8M+11% 990 PDF
FY2020 $1.8M$1.9M 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

Full filing: Form 990 for FY2021

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $1,832,100 across 18 lines filed
IX-5 Pay of current officers, directors and key staff$467,876
IX-7 Other salaries and wages$560,330
IX-8 Pension plan contributions$37,534
IX-9 Other employee benefits$143,123
IX-10 Payroll taxes$68,717
IX-11b Legal fees$846
IX-11c Accounting fees$14,075
IX-11e Professional fundraising fees$89,998
IX-11g Other fees for services$6,806
IX-13 Office expenses$28,305
IX-16 Occupancy$26,141
IX-17 Travel$2,888
IX-19 Conferences, conventions and meetings$9,162
IX-20 Interest$1,276
IX-22 Depreciation, depletion and amortization$23,443
IX-23 Insurance$15,129
IX-24 Other expenses (24a–d)$235,207
IX-24e All other expenses$101,244
IX-25 Total functional expenses$1,832,100

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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