Millsaps College

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1890

Legal Domicile

Phone

6019741105

Tax Period

2024-07-01 to 2025-06-30

Millsaps College, founded in 1890, is a mid-sized nonprofit in the Education sector that reported $55.6M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $53.2M left a modest 4% surplus.

Mission

MILLSAPS COLLEGE IS DEDICATED TO ACADEMIC EXCELLENCE, TO OPEN INQUIRY AND FREE EXPRESSION, TO THE EXPLORATION OF FAITH TO INFORM VOCATION, AND TO THE INNOVATIVE SHAPING OF THE SOCIAL, ECONOMIC, AND CULTURAL PROGRESS OF OUR REGION.

Program Service Accomplishments

Program 1

Expenses: $39,113,128 Revenue: $27,675,323

EDUCATIONAL FACILITIES AND PERSONNEL PROVIDING AN IDEAL ATMOSPHERE FOR LEARNING FOR APPROXIMATELY 580 STUDENTS. THIS IS ACHIEVED WITH ONE TEACHER FOR EVERY 8 STUDENTS AND AN AVERAGE CLASS SIZE OF 10.

Program 2

Expenses: $752,610 Revenue: $4,840,370

AUXILIARY ENTERPRISES INCLUDING THE HOUSING OF 87% OF THE APPROXIMATELY 580 STUDENTS ENROLLED.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $9,242,533

Program Service Revenue $30,925,963

Investment Income $13,645,075

Other Revenue $1,762,969

TOTAL REVENUE $55,576,540

Expense Breakdown

Grants Paid $17,524,986

Salaries & Benefits $18,377,885

Fundraising Expenses $3,355,026

Program Expenses $39,865,738

Other Expenses $17,141,346

TOTAL EXPENSES $53,180,196

Year-over-Year Comparison

	2024	2023	Change
Revenue	$55,576,540	$49,893,046	+0.1%
Expenses	$53,180,196	$51,520,523	+0.0%
Net Income	$2,396,344	$-1,627,477	-2.5%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

644

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,631,328

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Amanda Sanders Turner	TRUSTEE	1.0	Director	$0	$0	$0
Ashley McPhail	TRUSTEE	1.0	Director	$0	$0	$0
Betsy Stone Walkup	TRUSTEE	1.0	Director	$0	$0	$0
Bishop Sharma Lewis	TRUSTEE	1.0	Director	$0	$0	$0
Cary Stockett	TRUSTEE	1.0	Director	$0	$0	$0
Charles R Lathem	TRUSTEE	1.0	Director	$0	$0	$0
Charlotte Seals	TRUSTEE	1.0	Director	$0	$0	$0
Chris Cheek	TRUSTEE	1.0	Director	$0	$0	$0
David B Russell	TRUSTEE	1.0	Director	$0	$0	$0
David M Loper	TRUSTEE	1.0	Director	$0	$0	$0
David Marsh	TRUSTEE	1.0	Director	$0	$0	$0
David Wesley Carroll	TRUSTEE	1.0	Director	$0	$0	$0
Donna Ruth Roberts	TRUSTEE	1.0	Director	$0	$0	$0
Eddie Rester	TRUSTEE	1.0	Director	$0	$0	$0
Elizabeth Ann Buyan	TRUSTEE	1.0	Director	$0	$0	$0
Emerson Robinson Jr	TRUSTEE	1.0	Director	$0	$0	$0
J Mack Varner	TRUSTEE	1.0	Director	$0	$0	$0
Jim Coggin	TRUSTEE	1.0	Director	$0	$0	$0
John Lindsey	TRUSTEE	1.0	Director	$0	$0	$0
Katherine B Brady	TRUSTEE	1.0	Director	$0	$0	$0
Lisa Garvin	TRUSTEE	1.0	Director	$0	$0	$0
Mark Freeman	TRUSTEE	1.0	Director	$0	$0	$0
Maurice Hall	TRUSTEE	1.0	Director	$0	$0	$0
Michael Bourland	TRUSTEE	1.0	Director	$0	$0	$0
Mike Sturdivant	TRUSTEE	1.0	Director	$0	$0	$0
Monica Sethi Harrigill	TRUSTEE	1.0	Director	$0	$0	$0
Monty P Hamilton	TRUSTEE	1.0	Director	$0	$0	$0
Paul Benton	TRUSTEE	1.0	Director	$0	$0	$0
Peder Johnson	TRUSTEE	1.0	Director	$0	$0	$0
Polly Gatlin Bailey	TRUSTEE	1.0	Director	$0	$0	$0
REV Dr Joseph Reiff	TRUSTEE	1.0	Director	$0	$0	$0
REV DR Stephen Cook	TRUSTEE	1.0	Director	$0	$0	$0
REV Mike Hicks	TRUSTEE	1.0	Director	$0	$0	$0
Robert L Lyle	TRUSTEE	1.0	Director	$0	$0	$0
Roger M Smith	TRUSTEE	1.0	Director	$0	$0	$0
Ryan Beckett	TRUSTEE	1.0	Director	$0	$0	$0
Susan Eskridge Frazier	TRUSTEE	1.0	Director	$0	$0	$0
Tom Fowlkes	TRUSTEE	1.0	Director	$0	$0	$0
Ward W Van Skiver	TRUSTEE	1.0	Director	$0	$0	$0
AARON PELCH	VP OF ENROLLMENT	40.0	Officer	$167,067	$8,418	$175,485
DANIEL JASPER	Provost and Dean of the College (SINCE 06/01/2025)	40.0	Officer	$0	$0	$0
DR KEITH DUNN	INTERIM PRESIDENT	40.0	Officer	$238,368	$42,597	$280,965
FRANK NEVILLE	PRESIDENT	40.0	Officer	$221,643	$14,591	$236,234
MARTIN SMITH	VP INSTITUTIONAL DEVELOPMENT (UNTIL 5/23/2025)	40.0	Officer	$169,443	$38,677	$208,120
MEGAN JAMES	DEAN OF STUDENTS	40.0	Officer	$119,225	$6,038	$125,263
STACEY GAINES	VP OF MARKETING AND COMMUNICATION	40.0	Officer	$162,748	$30,416	$193,164
STEPHANIE ROLPH	Chief of Staff	40.0	Officer	$165,934	$20,362	$186,296
WHITNEY EMRICH	VP OF FINANCE	40.0	Officer	$185,562	$40,239	$225,801
BLAKEY FENDER	PROFESSOR OF ELSE SCHOOL	40.0	Highest	$160,984	$35,103	$196,087
GUY MCCLAIN	ASSOC PROFESSOR OF ACCOUNTING	40.0	Highest	$167,836	$7,282	$175,118
HARVEY FISER	DEAN ELSE SCHOOL MANAGEMENT	40.0	Highest	$231,391	$20,660	$252,051
JESSE BEELER	PROFESSOR OF ACCOUNTING	40.0	Highest	$165,833	$31,245	$197,078
TIMOTHY WARD	PROFESSOR OF CHEMISTRY	40.0	Highest	$141,457	$16,557	$158,014

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$55,576,540	$53,180,196	$212,871,150	$2,396,344
2024	$49,893,046	$51,520,523	$206,540,754	$-1,627,477
2023	$62,268,494	$52,097,442	$201,328,544	$10,171,052
2022	$59,398,163	$54,131,648	$191,983,134	$5,266,515
2021	$60,487,890	$48,944,113	$206,414,580	$11,543,777
2020	$50,786,555	$52,267,840	$178,487,613	$-1,481,285
2019	$58,289,941	$57,271,932	$175,804,897	$1,018,009
2018	$58,965,203	$58,036,801	$174,081,309	$928,402