Foundation for the Mid South Inc

Analysis

Foundation for the Mid South Inc is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in January 1991, 35 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Foundation for the Mid South Inc reported income of $1.6m and spending of $1.8m, spending 110% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $932k to $1.6m (+71%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 178%. Over the whole period it spent 117% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Foundation for the Mid South Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within MS. Charities of a similar size with the same main cause include Lake Street Council ($1.6m), Endeavor Miami Inc ($1.6m) and Northside Institutions Neighborhood Alliance Inc ($1.6m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 82% of the total. Compensation of current officers, directors and key employees was $224k (13% of expenses). Other salaries and wages came to $261k. At year end it held assets of $19.5m against liabilities of $3.1m, net assets of $16.4m. It reported 8 employees.