Mississippi Higher Education Assistance Corporation

Analysis

Mississippi Higher Education Assistance Corporation is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in January 1981, 45 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mississippi Higher Education Assistance Corporation reported income of $9.8m and spending of $9.0m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $10.7m to $9.8m (-8.4%), an average of -2.2% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mississippi Higher Education Assistance Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within MS. Charities of a similar size with the same main cause include March Inc of Manchester C/O Robert F Gorman ($9.8m), Townsend Health Systems Inc Broadwater Community Hospital ($9.8m) and Hospice of Marshall County Inc ($9.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 55% of the total. At year end it held assets of $117.1m against liabilities of $83.3m, net assets of $33.8m.