HOME BUILDERS ASSOCIATION OF MISSISSIPPI

EIN: 640536221 Community Improvement

RIDGELAND, MS

Total Revenue
$516,355
Total Expenses
$484,171
Total Assets
$2,554,582
Net Assets
$2,543,426
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1961
Legal Domicile
MS
Principal Officer
SETH HOOD
Phone
8008984226
Tax Period
2024-01-01 to 2024-12-31

HOME BUILDERS ASSOCIATION OF MISSISSIPPI, founded in 1961, is a small nonprofit in the Community Improvement sector that reported $516K in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $484K left a modest 6% surplus.

Mission

THE HOME BUILDERS ASSOCIATION OF MISSISSIPPI (HBAM) IS A TRADE ORGANIZATION WHICH ASSISTS IN "BUILDING A BETTER MISSISSIPPI" BY PROMOTING, ADVANCING, AND PROTECTING THE HOUSING INDUSTRY. HBAM IS THE STATEWIDE ASSOCIATION AFFILIATED WITH THE LOCAL HOME BUILDER ASSOCIATIONS AND THE NATIONAL HOME ASSOCIATION OF HOME BUILDERS. THROUGH ADVOCACY, SAVINGS, KNOWLEDGE AND EXPERTISE, THESE ASSOCIATIONS PROVIDE MEMBERSHIP BENEFITS AND RESOURCES TO FURTHER THE HOUSING INDUSTRY THROUGHOUT THE STATE.

Program Service Accomplishments

Program 1
Expenses: $397,382 Revenue: $389,960

PROMOTING, ADVANCING, AND PROTECTING THE HOUSING INDUSTRY THROUGH ADVOCACY AND EDUCATION FOR MEMBERS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $127,988
Program Service Revenue $104,690
Investment Income $126,395
Other Revenue $157,282
TOTAL REVENUE $516,355

Expense Breakdown

Grants Paid $0
Salaries & Benefits $171,595
Fundraising Expenses $0
Program Expenses $397,382
Other Expenses $312,576
TOTAL EXPENSES $484,171

Year-over-Year Comparison

2024 2023 Change
Revenue $516,355 $456,469 +0.1%
Expenses $484,171 $706,804 -0.3%
Net Income $32,184 $-250,335 -1.1%
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

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Governance

Voting Members
52
Independent Members
52
Employees
2
Volunteers
N/A

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
5
$64,000
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIM MIHALIK SECRETARY/TREASURER 2.00
Officer Director
$0 $0 $0
BRAD BAGGETT PRESIDENT 2.00
Officer Director
$0 $0 $0
DEBORAH MIGUES ASSOCIATE VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
JOHN M RAINEY VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
SETH HOOD EXECUTIVE VP 10.00
Officer
$64,000 $0 $64,000
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
2024 $516,355 $484,171 $2,554,582 $32,184
2023 $456,469 $706,804 $2,536,614 $-250,335
2022 $537,071 $536,028 $2,775,545 $1,043
2021 $716,230 $447,041 $2,767,923 $269,189
2020 $316,159 $351,435 $2,494,913 $-35,276
2019 $456,503 $707,569 $2,530,697 $-251,066
2018 $510,433 $517,874 $2,795,428 $-7,441
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