Millsaps College FY2022 filing

Tax-deductible

Jackson, MS501(c)(3)Since 1890Colleges & UniversitiesEIN 64-0303084Revenue $59.4M in FY2022

On file with the IRSmillsaps.edu1701 N State St, 39210-0002 · Jackson, MSTax-exempt since Sep 1944School — 170(b)(1)(A)(ii)

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Millsaps College is dedicated to academic excellence, to open inquiry and free expression, to the exploration of faith to inform vocation, and to the innovative shaping of the social, economic, and cultural progress of our region.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$1.9M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990-TIndependent: 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
FY2025
latest Form 990-T
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $4.4M a year · 8% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.9M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $652K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$34.6M
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
40
of 40 voting members
Looks good: 40 of 40 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$59.4M
-2% vs prior year
Spent
$54.1M
To programs
86%
Net assets
$157.4M
By yearFY2020–FY2025
Revenue
$59.4M
FY2022▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2020$50.8M
FY2021$60.5M
FY2022$59.4M
FY2023$62.3M
FY2024$49.9M
FY2025$55.6M
Expenses
$54.1M
FY2022▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$52.3M
FY2021$48.9M
FY2022$54.1M
FY2023$52.1M
FY2024$51.5M
FY2025$53.2M
Net assets
$157.4M
FY2022▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020$134.7M
FY2021$168.5M
FY2022$157.4M
FY2023$168.6M
FY2024$176.8M
FY2025$179.1M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1944.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $46.6M Management & general 11% · $5.9M Fundraising 3% · $1.6M

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

53 people listed on the 990-T; $1.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$279,701Pt VII · Sec A
Interim Dean Else School Mgmt
$184,554Pt VII · Sec A
VP of Marketing and Communicat
$168,476Pt VII · Sec A
Provost & Dean of the College
$166,149Pt VII · Sec A
VP of Enrollment
$163,412Pt VII · Sec A
VP of Finance
$159,853Pt VII · Sec A
Assoc. Professor of Accounting
$157,511Pt VII · Sec A
Professor of Accounting
$157,358Pt VII · Sec A

Dr Keith Dunn’s $238K as Interim President is at the 49th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dr Robert Pearigen—$160,460$310,544$279,701$281,607$307,061
Dr Keith Dunn$238,368$249,731$170,489$166,149$165,247$167,612
Harvey Fiser$231,391$222,088$192,881$184,554—$152,472
Frank Neville$221,643—————
Guy McClain$167,836$200,281————
Damon Campbell———$157,246$199,449$177,177
Robert Alexander—————$197,684
Jesse Beeler$165,833$175,058$187,943$157,358$182,150$193,732

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

Provides undergraduate and graduate liberal arts education and residential campus services to students in Jackson, Mississippi.

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Provided by the organization

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2 programs · $46.6M · in their own filed words · FY2021
01

Educational facilities and personnel providing an ideal atmosphere for learning for approximately 739 students. This is achieved with one teacher for every 9 students and an average class size of 12.

$46.0Mprogram expense
02

Auxiliary enterprises including the housing of 85% of the approximately 739 students enrolled.

$650Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
See all 7 funders →
Grants paid · 6 grants · $107.0M · 2019–2024
Unitemized GrantFY2024$16,475,242
Unitemized GrantFY2023$16,222,115
Unitemized GrantFY2022$18,049,701
Unitemized GrantFY2021$19,384,827
Unitemized GrantFY2020$17,845,760
Unitemized GrantFY2019$19,008,274

By the numbers

The FY2022 990-T, line by line.

1The main four
Money in
$59.4M
Fees for services$37.0M
Gifts and grants$11.6M
Investment income$8.7M
Money out
$54.1M
Programs$46.6M
Management$5.9M
Fundraising$1.6M
Owns and owes
$157.4M
net assets
Cash and savings$21.5M
Total assets$192.0M
Liabilities$34.6M
People
53
listed
Paid12
Voting board40
Independent40
2In more detail
Revenue in detail
Gifts and grants$11.6M
Government grants$2.5M
Fees for services$37.0M
Investment income$8.7M
Other income$2.1M
Total revenue$59.4M
Assets in detailEnd of year
Cash and savings together$21.5M
Total assets$192.0M
Liabilities$34.6M
Net assets$157.4M
Operations
Employees644
Volunteers39
Fiscal year endsJune
Conflict-of-interest policyYes
Whistleblower policyYes
Records policyYes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $55.6M$53.2M$2.4M$179.1M 990 PDF
FY2024 $49.9M$51.5M−$1.6M$176.8M 990 PDF
FY2023 $62.3M$52.1M$10.2M$168.6M 990 PDF
FY2022 Viewing $59.4M$54.1M$5.3M$157.4M 990 PDF
FY2021 $60.5M$48.9M$11.5M$168.5M 990 PDF
FY2020 $50.8M$52.3M−$1.5M$134.7M 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

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

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