Community Development Foundation: Nonprofit Profile, Financials & Form 990 (EIN 64-0256085)

Revenue by fiscal year
FY2020	$5.2M
FY2021	$4.9M
FY2022	$9.5M
FY2023	$6.2M
FY2024	$5.3M
FY2025	$8.3M

Expenses by fiscal year
FY2020	$4.8M
FY2021	$4.7M
FY2022	$5.3M
FY2023	$5.3M
FY2024	$5.9M
FY2025	$7.3M

Net assets by fiscal year
FY2020	$15.8M
FY2021	$16.0M
FY2022	$19.9M
FY2023	$20.8M
FY2024	$20.2M
FY2025	$21.4M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1950.

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

Who runs it and what they're paid

21 people listed on the 990; $2.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

David Rimbarger

President/CEO

$886,148Pt VII · Sec A

Shane Homan

COO

$394,731Pt VII · Sec A

Matt McCarty

CFO

$388,067Pt VII · Sec A

Jon Milstead

VP of Planning and Property Development

$307,857Pt VII · Sec A

Judd Wilson

VP of Chamber of Commerce

$155,781Pt VII · Sec A

Chris Bagley

Past Chairman

$0Pt VII · Sec A

Geoff Carter

Member

$0Pt VII · Sec A

Josh West

Member

$0Pt VII · Sec A

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

Name	FY2025	FY2022	FY2021	FY2020
David Rimbarger	$886,148	—	—	—
David Rumbarger	—	$871,551	$622,284	$617,873
Shane Homan	$394,731	$288,901	$204,344	$199,766
Matt McCarty	$388,067	$269,336	$178,506	$183,991
Jon Milstead	$307,857	$233,723	$157,232	$176,984
Judd Wilson	$155,781	$150,160	$135,688	$128,248
Greg Giachelli	—	—	$115,330	$111,545

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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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

Strengthens the Tupelo-Lee County region by recruiting industries, retaining businesses, and providing workforce training to foster economic and community development.

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Provided by the organization

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3 programs · in their own filed words · FY2024

01

The planning and property management program aims to empower and raise the standard of public communication and partnership for regional progress. This program of work and its elements is created to address the lee county needs while broadening the regions development efforts.

Pt IX · col B

02

The economic DEVELOPMENT/FUTURE focus is a means to bring vibrant workforce and training to lee county by recruitment, retention, and workforce training of existing and future industries.

Pt IX · col B

03

The lee county chamber of commerce enhances community education and the business environment in lee county.

Pt IX · col B

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

North Mississippi Health Services INCFY2024$22K

Total grants receivedfrom 1 funder$22K

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$8.3M

Ln 12

Other incomeLn 4–11$2.9M

Fees for servicesLn 2g$2.8M

Gifts and grantsLn 1h$2.7M

Money outPt IX

$7.3M

Ln 25

Owns and owesPt X

$21.4M

net assets · Ln 32

Cash and savingsLn 1–2$4.7M

Total assetsLn 16$30.1M

LiabilitiesLn 26$8.7M

PeoplePt VI, VII

21

listed · VII A

PaidVII A5

Voting boardVI 1a53

IndependentVI 1b52

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.7M

Government grantsLn 1e$1.7M

Fees for servicesLn 2g$2.8M

Investment incomeLn 3$21K

Other incomeLn 4–11$2.9M

Total revenueLn 12$8.3M

Assets in detailPt X, end of year

CashLn 1$4.7M

Cash and savings togetherLn 1–2$4.7M

InvestmentsLn 11–13$1.8M

Land, buildings, equipmentLn 10c$22.7M

Other assetsLn 15$542K

Total assetsLn 16$30.1M

LiabilitiesLn 26$8.7M

Net assetsLn 32$21.4M

OperationsPt I, VI

EmployeesI 521

VolunteersI 628

Fiscal year endsHeaderApril

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$725K	$4.7M
InvestmentsLn 11–13	$1.7M	$1.8M
Land, buildings, equipmentLn 10c	$27.2M	$22.7M
Total assetsLn 16	$30.7M	$30.1M
LiabilitiesLn 26	$10.5M	$8.7M
Net assetsLn 32	$20.2M	$21.4M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$3.2M
Other employee benefitsLn 9	$886K
Payroll taxesLn 10	$163K
Legal feesLn 11b	$237K
Advertising and promotionLn 12	$9K
TravelLn 17	$174K
InterestLn 20	$229K
Depreciation, depletion and amortizationLn 22	$688K
InsuranceLn 23	$185K
Other expenses (24a–d)Ln 24	$1.1M
All other expensesLn 24e	$388K
Total functional expensesLn 25	$7.3M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest ViewingFiled with the IRS Mar 16, 2026	$8.3M	$7.3M	$1.0M	$21.4M	990 PDF
FY2024Filed with the IRS Mar 17, 2025	$5.3M	$5.9M	−$591K	$20.2M	990 PDF
FY2023Filed with the IRS Mar 15, 2024	$6.2M	$5.3M	$902K	$20.8M	990 PDF
FY2022Filed with the IRS Mar 15, 2023	$9.5M	$5.3M	$4.2M	$19.9M	990 PDF
FY2021Filed with the IRS Mar 15, 2022	$4.9M	$4.7M	$193K	$16.0M	990 PDF
FY2020Filed with the IRS Mar 15, 2021	$5.2M	$4.8M	$429K	$15.8M	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 J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $8,339,470 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,523,458$2,658,665

I-9 Program service revenuePrior year $2,655,108$2,795,345

I-10 Investment incomePrior year $5,626$21,052

I-11 Other revenuePrior year $260,325$2,864,408

I-12 Total revenuePrior year $5,444,517$8,339,470

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 $3,321,691$4,277,152

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $2,808,010$3,055,933

I-18 Total expensesPrior year $6,129,701$7,333,085

I-19 Revenue less expensesPrior year −$685,184$1,006,385

Part VI · Governance 52 of 53 board members independent, no flags

VI-1a Voting members of the governing body53

VI-1b Independent voting members52

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

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $8,339,470 across 7 lines filed

VIII-1b Membership dues$1,008,394

VIII-1e Government grants$1,650,271

VIII-1h Total contributions, gifts and grants$2,658,665

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,745,345 · Unrelated business $50,000$2,795,345

VIII-3 Investment incomeUnrelated business $21,052$21,052

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $2,864,408$2,864,408

VIII-12 Total revenueRelated to mission $2,745,345 · Unrelated business $2,935,460 · Excluded from tax $0$8,339,470

Part IX · Statement of functional expenses $7,333,085 across 11 lines filed

IX-7 Other salaries and wages$3,228,094

IX-9 Other employee benefits$885,727

IX-10 Payroll taxes$163,331

IX-11b Legal fees$236,734

IX-12 Advertising and promotion$9,150

IX-17 Travel$174,000

IX-20 Interest$229,264

IX-22 Depreciation, depletion and amortization$688,196

IX-23 Insurance$185,147

IX-24 Other expenses (24a–d)$1,145,262

IX-24e All other expenses$388,180

IX-25 Total functional expenses$7,333,085

Part X · Balance sheet $30,104,690 assets, 15 lines filed

X-1 Cash, non-interest-bearingStart of year $724,901$4,733,036

X-4 Accounts receivableStart of year $372,186$135,054

X-9 Prepaid expenses and deferred chargesStart of year $555,704$116,943

X-10c Land, buildings and equipment, netStart of year $27,158,078$22,731,216

X-11 Publicly traded securitiesStart of year $1,738,506$1,846,743

X-15 Other assetsStart of year $83,459$541,698

X-16 Total assetsStart of year $30,722,007$30,104,690

X-17 Accounts payable and accrued expensesStart of year $446,780$2,781

X-19 Deferred revenueStart of year $1,575,749$1,568,000

X-25 Other liabilitiesStart of year $3,183,342$2,307,735

X-26 Total liabilitiesStart of year $10,546,516$8,718,840

X-27 Net assets without donor restrictionsStart of year $14,300,121$16,917,296

X-28 Net assets with donor restrictionsStart of year $5,875,370$4,468,554

X-32 Total net assets or fund balancesStart of year $20,175,491$21,385,850

X-33 Total liabilities and net assetsStart of year $30,722,007$30,104,690

Part XI · Reconciliation of net assets $21,385,850 net assets at year end

XI-1 Total revenue$8,339,470

XI-2 Total expenses$7,333,085

XI-3 Revenue less expenses$1,006,385

XI-4 Net assets at start of year$20,175,491

XI-8 Prior period adjustments$203,974

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$21,385,850

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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Community Development Foundation

Before you give

Is it real?

Who runs it and what they're paid

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

Questions the 990 asks

Programs and updates

Questions for Community Development Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV