Millsaps College

Analysis

Millsaps College is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in September 1944, 82 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Millsaps College reported income of $62.3m and spending of $52.1m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $58.3m to $62.3m (+6.8%), an average of +1.7% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Millsaps College sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MS. Charities of a similar size with the same main cause include Claremont Investment Fund ($62.1m), Midland University ($62.3m) and Lake Highland Preparatory School Inc ($62.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $1.5m (2.9% of expenses). Other salaries and wages came to $13.2m. It paid $19k in professional fundraising fees. At year end it held assets of $201.3m against liabilities of $32.8m, net assets of $168.6m. It reported 630 employees.