Tippah County Development Foundation INC FY2024 filing

Not tax-deductible

Ripley, MS501(c)(6)Since 1984EIN 64-0716026Revenue $573K in FY2024

On file with the IRS201 Union St, 38663-2008 · Ripley, MSTax-exempt since Jun 1986

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To promote economic and community Development

97¢ of each $1 spent went to programs.
$95K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $646K a year · 130% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$95K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$24.3M
107% of total assets
Concern: liabilities are 107% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$573K
+17% vs prior year
Spent
$1.7M
To programs
97%
Net assets
−$1.5M
By yearFY2020–FY2025
Revenue
$573K
FY2024▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2020$205K
FY2021$245K
FY2022$995K
FY2023$490K
FY2024$573K
FY2025$472K
Expenses
$1.7M
FY2024▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$181K
FY2021$189K
FY2022$1.2M
FY2023$1.8M
FY2024$1.7M
FY2025$1.8M
Net assets
−$1.5M
FY2024▼ -326%
Tap a bar for its year
Net assets by fiscal year
FY2020$571K
FY2021$627K
FY2022$1.1M
FY2023−$360K
FY2024−$1.5M
FY2025−$2.8M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1986.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $1.7M Management & general 3% · $50K

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

8 people listed on the 990; $95K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Dir.
$95,256Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Chris Lewellen$97,248$95,256$88,200$93,838$84,800$84,000

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.

See Tippah County Development Foundation INC 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

Boosts Tippah County's economy and community to improve residents' quality of life.

Questions for Tippah County Development Foundation INC

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Provided by the organization

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1 program · $1.7M · in their own filed words · FY2024
01

TCDF organizes community and economic development efforts in tippah county, MS. TCDF recruits new industries and serves existing industries. Also, it promotes efforts to bring in new commerce to tippah county and to strengthen the workforce pipeline.

$1.7Mprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$573K
Ln 12
Fees for servicesLn 2g$445K
Gifts and grantsLn 1h$127K
Investment incomeLn 3$2K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.7M
Managementcol C$50K
Owns and owesPt X
−$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$810K
Total assetsLn 16$22.8M
LiabilitiesLn 26$24.3M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$127K
Government grantsLn 1e$115K
Fees for servicesLn 2g$445K
Investment incomeLn 3$2K
Gains on assetsLn 7$0
Total revenueLn 12$573K
Assets in detailPt X, end of year
CashLn 1$740K
SavingsLn 2$70K
Cash and savings togetherLn 1–2$810K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$22.0M
Other assetsLn 15$500
Total assetsLn 16$22.8M
LiabilitiesLn 26$24.3M
Net assetsLn 32−$1.5M
OperationsPt I, VI
EmployeesI 52
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 FY24End FY24
Cash and savingsLn 1–2$824K$810K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$23.0M$22.0M
Total assetsLn 16$23.9M$22.8M
LiabilitiesLn 26$24.2M$24.3M
Net assetsLn 32−$360K−$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$95K$86K$10K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$37K$18K$18K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$10K$8K$2K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$43K$29K$14K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$1K$600$600
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$9K$9K
TravelLn 17$7K$7K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$452K$452K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$1.0M$1.0M$4K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$42K$42K
All other expensesLn 24e$3K$730$2K
Total functional expensesLn 25$1.7M$1.7M$50K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $472K$1.8M−$1.3M−$2.8M 990 PDF
FY2024 Viewing $573K$1.7M−$1.2M−$1.5M 990 PDF
FY2023 $490K$1.8M−$1.3M−$360K 990 PDF
FY2022 $995K$1.2M−$184K$1.1M 990 PDF
FY2021 $245K$189K$55K$627K 990 PDF
FY2020 $205K$181K$24K$571K 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
See the full FY2024 990 (6 parts)
Part I · Summary $572,819 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $157,795$126,749
I-9 Program service revenuePrior year $331,273$444,567
I-10 Investment incomePrior year $806$1,503
I-11 Other revenue$0
I-12 Total revenuePrior year $489,874$572,819
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $131,200$141,629
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,654,070$1,605,406
I-18 Total expensesPrior year $1,785,270$1,747,035
I-19 Revenue less expensesPrior year −$1,295,396−$1,174,216
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $572,819 across 10 lines filed
VIII-1e Government grants$114,949
VIII-1f All other contributions, gifts and grants$11,800
VIII-1h Total contributions, gifts and grants$126,749
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $444,567$444,567
VIII-3 Investment incomeExcluded from tax $1,503$1,503
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $444,567 · Excluded from tax $1,503$572,819
Part IX · Statement of functional expenses $1,747,035 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $85,730 · Management $9,526$95,256
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $18,275 · Management $18,274$36,549
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $7,761 · Management $2,063$9,824
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $28,901 · Management $14,210$43,111
IX-12 Advertising and promotionPrograms $3,409$3,409
IX-13 Office expensesPrograms $600 · Management $600$1,200
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $9,418$9,418
IX-17 TravelPrograms $6,630$6,630
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $451,786$451,786
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $1,040,035 · Management $3,641$1,043,676
IX-23 InsurancePrograms $1,623$1,623
IX-24 Other expenses (24a–d)Programs $41,995$41,995
IX-24e All other expensesPrograms $730 · Management $1,828$2,558
IX-25 Total functional expensesPrograms $1,696,893 · Management $50,142 · Fundraising $0$1,747,035
Part X · Balance sheet $22,800,588 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $755,285$740,075
X-2 Savings and temporary cash investmentsStart of year $68,508$70,011
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $23,033,678$21,990,002
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $500$500
X-16 Total assetsStart of year $23,857,971$22,800,588
X-17 Accounts payable and accrued expensesStart of year $1,929$3,167
X-26 Total liabilitiesStart of year $24,217,807$24,334,640
X-27 Net assets without donor restrictionsStart of year −$359,836−$1,534,052
X-32 Total net assets or fund balancesStart of year −$359,836−$1,534,052
X-33 Total liabilities and net assetsStart of year $23,857,971$22,800,588
Part XI · Reconciliation of net assets −$1,534,052 net assets at year end
XI-1 Total revenue$572,819
XI-2 Total expenses$1,747,035
XI-3 Revenue less expenses−$1,174,216
XI-4 Net assets at start of year−$359,836
XI-10 Net assets at end of year−$1,534,052

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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