Jackson County Economic Development Foundation INC FY2020 filing

Tax-deductible

Pascagoula, MS501(c)(3)Since 1993Community DevelopmentEIN 64-0838516Revenue $1.1M in FY2020

On file with the IRSjcedf.org3033 Pascagoula St, 39567-4212 · Pascagoula, MSTax-exempt since Nov 1996Publicly supported charity — 170(b)(1)(A)(vi)

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Improving the Economic Development opportunities of Jackson County, mississippi by unifying planning, Economic & industrial Development, and marketing activities in the County.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$535K 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

FY2020 · Form 990Independent: 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
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 $150K a year · 9% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$535K
to officers and key staff · 37% of spending
Concern: pay to officers and key staff is 37% of spending; over 30%.
Pt VII · Sec A
Cash reserves
25 mo
of spending, in cash
Looks good: 25.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $26K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$100K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
Spent
$1.4M
To programs
90%
Net assets
$4.0M
By yearFY2020–FY2025
Revenue
$1.1M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$1.2M
FY2022$2.2M
FY2023$2.2M
FY2024$2.1M
FY2025$1.5M
Expenses
$1.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2022$2.7M
FY2023$1.8M
FY2024$2.0M
FY2025$1.7M
Net assets
$4.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$4.0M
FY2021$3.7M
FY2022$3.2M
FY2023$3.5M
FY2024$3.6M
FY2025$3.4M

From the FY2020 Form 990 (year ending September 2020) · 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 Nov 1996.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $1.3M Management & general 10% · $147K

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

17 people listed on the 990; $535K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$336,992Pt VII · Sec A
Deputy Direc
$197,766Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

George L Freeland JR’s $426K as CEO is at the 94th percentile of top reported officer pay among 2832 $1–10M community development 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
George L Freeland JR$426,499$397,932$380,137$363,612$352,341—
George Freeland—————$336,992
Mary Martha Henson$258,495$238,193$229,942$223,200$216,919$197,766

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

Unifying planning, economic development, and marketing to boost opportunities in Jackson County, Mississippi.

Questions for Jackson County Economic Development Foundation INC

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Provided by the organization

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1 program · $1.3M · in their own filed words · FY2019
01

The foundation has implemented a retention & expansion program, identified optimal sites for new industry, established a "red carpet" buiness recruitment team, and worked with other non porfit organizations with county improvements. Also, received and expended advertising grants to promote the county.

$1.3Mprogram expense

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 · FY2023
Total grants receivedfrom 1 funder$26K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Gifts and grantsLn 1h$1.1M
Investment incomeLn 3$6K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.3M
Managementcol C$147K
Owns and owesPt X
$4.0M
net assets · Ln 32
Cash and savingsLn 1–2$3.0M
Total assetsLn 16$4.1M
LiabilitiesLn 26$100K
PeoplePt VI, VII
17
listed · VII A
PaidVII A2
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$874K
Noncash giftsLn 1g$30K
Investment incomeLn 3$6K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$2.5M
SavingsLn 2$541K
Cash and savings togetherLn 1–2$3.0M
Land, buildings, equipmentLn 10c$44K
Total assetsLn 16$4.1M
LiabilitiesLn 26$100K
Net assetsLn 32$4.0M
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderSeptember
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
LineStart FY20End FY20
Cash and savingsLn 1–2$3.1M$3.0M
Land, buildings, equipmentLn 10c$56K$44K
Total assetsLn 16$4.5M$4.1M
LiabilitiesLn 26$203K$100K
Net assetsLn 32$4.3M$4.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$673K$606K$67K
Pension plan contributionsLn 8$23K$21K$2K
Other employee benefitsLn 9$43K$39K$4K
Payroll taxesLn 10$36K$32K$4K
Legal feesLn 11b$10K$9K$2K
Accounting feesLn 11c$22K$17K$5K
Lobbying feesLn 11d$168K$168K
Other fees for servicesLn 11g$24K$24K
Advertising and promotionLn 12$59K$59K
Office expensesLn 13$51K$41K$10K
Information technologyLn 14$16K$13K$3K
OccupancyLn 16$30K$30K
TravelLn 17$48K$48K
Conferences, conventions and meetingsLn 19$57K$57K
Depreciation, depletion and amortizationLn 22$25K$20K$5K
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$131K$131K
Total functional expensesLn 25$1.4M$1.3M$147K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.5M$1.7M−$213K$3.4M 990 PDF
FY2024 $2.1M$2.0M$45K$3.6M 990 PDF
FY2023 $2.2M$1.8M$373K$3.5M 990 PDF
FY2022 $2.2M$2.7M−$503K$3.2M 990 PDF
FY2021 $1.2M$1.5M−$312K$3.7M 990 PDF
FY2020 Viewing $1.1M$1.4M−$293K$4.0M 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 FY2020 990 (6 parts)
Part I · Summary $1,141,126 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,526,689$1,135,459
I-9 Program service revenue$0
I-10 Investment incomePrior year $5,310$5,667
I-11 Other revenue$0
I-12 Total revenuePrior year $1,531,999$1,141,126
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $731,104$775,594
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $945,601$658,332
I-18 Total expensesPrior year $1,676,705$1,433,926
I-19 Revenue less expensesPrior year −$144,706−$292,800
Part VI · Governance 16 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
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 $1,141,126 across 6 lines filed
VIII-1e Government grants$873,968
VIII-1f All other contributions, gifts and grants$261,491
VIII-1g Noncash contributions (included above)$30,000
VIII-1h Total contributions, gifts and grants$1,135,459
VIII-3 Investment incomeRelated to mission $5,667$5,667
VIII-12 Total revenueRelated to mission $5,667$1,141,126
Part IX · Statement of functional expenses $1,433,926 across 17 lines filed
IX-7 Other salaries and wagesPrograms $605,738 · Management $67,304$673,042
IX-8 Pension plan contributionsPrograms $20,891 · Management $2,321$23,212
IX-9 Other employee benefitsPrograms $39,071 · Management $4,341$43,412
IX-10 Payroll taxesPrograms $32,335 · Management $3,593$35,928
IX-11b Legal feesPrograms $8,622 · Management $1,521$10,143
IX-11c Accounting feesPrograms $17,195 · Management $4,850$22,045
IX-11d Lobbying feesPrograms $167,934$167,934
IX-11g Other fees for servicesPrograms $24,472$24,472
IX-12 Advertising and promotionPrograms $59,481$59,481
IX-13 Office expensesPrograms $40,566 · Management $10,142$50,708
IX-14 Information technologyPrograms $13,156 · Management $3,289$16,445
IX-16 OccupancyManagement $30,000$30,000
IX-17 TravelPrograms $48,415$48,415
IX-19 Conferences, conventions and meetingsPrograms $57,258$57,258
IX-22 Depreciation, depletion and amortizationPrograms $20,213 · Management $4,770$24,983
IX-23 InsuranceManagement $15,350$15,350
IX-24 Other expenses (24a–d)Programs $131,098$131,098
IX-25 Total functional expensesPrograms $1,286,445 · Management $147,481 · Fundraising $0$1,433,926
Part X · Balance sheet $4,080,202 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $2,526,578$2,481,708
X-2 Savings and temporary cash investmentsStart of year $535,350$540,950
X-3 Pledges and grants receivableStart of year $1,234,923$922,300
X-4 Accounts receivableStart of year $105,239$91,601
X-10c Land, buildings and equipment, netStart of year $56,336$43,643
X-16 Total assetsStart of year $4,458,426$4,080,202
X-17 Accounts payable and accrued expensesStart of year $103,591$23,209
X-25 Other liabilitiesStart of year $99,417$76,511
X-26 Total liabilitiesStart of year $203,008$99,720
X-27 Net assets without donor restrictionsStart of year $1,098,745$1,182,289
X-28 Net assets with donor restrictionsStart of year $3,156,673$2,798,193
X-32 Total net assets or fund balancesStart of year $4,255,418$3,980,482
X-33 Total liabilities and net assetsStart of year $4,458,426$4,080,202
Part XI · Reconciliation of net assets $3,980,482 net assets at year end
XI-1 Total revenue$1,141,126
XI-2 Total expenses$1,433,926
XI-3 Revenue less expenses−$292,800
XI-4 Net assets at start of year$4,255,418
XI-9 Other changes in net assets$17,864
XI-10 Net assets at end of year$3,980,482

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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