Central Mississippi Development Co… - Form 990 Financial Data

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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

1981

Legal Domicile

Phone

6019811511

Tax Period

2023-10-01 to 2024-09-30

Central Mississippi Development Co Inc, founded in 1981, is a small nonprofit that reported $141K in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum. Expenses of $187K exceeded revenue, resulting in a 33% operating deficit.

Mission

CENTRAL MISSISSIPPI DEVELOPMENT CO., INC. (CMDC) IS A NON-PROFIT CORPORATION ESTABLISHED AND AUTHORIZED UNDER THE SMALL BUSINESS INVESTMENT ACT OF 1958 TO PROVIDE A SOURCE OF LONG-TERM FINANCING FOR SMALL BUSINESS CONCERNS AND THEIR GROWTH, MODERNIZATION AND EXPANSION. CMDC PROVIDES FIXED ASSET FINANCING WHICH IS A BASIS FOR EXPANDING EMPLOYMENT AND INCREASING THE ECONOMIC BASE OF THE SEVEN COUNTY AREA IT SERVES.

Program Service Accomplishments

Program 1

Expenses: $170,694 Revenue: $78,328

Central Mississippi Development Co., Inc. (CMDC) is authorized to issue bonds. The proceeds from the issuance of bonds are loaned to small businesses to finance fixed assets. The bonds, which are...

Central Mississippi Development Co., Inc. (CMDC) is authorized to issue bonds. The proceeds from the issuance of bonds are loaned to small businesses to finance fixed assets. The bonds, which are guaranteed by the Small Business Administration, are repaid solely from the proceeds of the promissory notes issued. Since CMDC has no primary obligation under the bonds, the amount of the bonds outstanding is not shown on the financial statements. The amount of outstanding bonds and related notes receivable totaled approximately $12,752,000 at September 30, 2024. Expenses incurred during the year in furtherance of this program service totaled $170,694.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $78,328

Investment Income $62,504

Other Revenue $0

TOTAL REVENUE $140,832

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $170,694

Other Expenses $186,663

TOTAL EXPENSES $186,663

Year-over-Year Comparison

	2023	2022	Change
Revenue	$140,832	$117,356	+0.2%
Expenses	$186,663	$166,166	+0.1%
Net Income	$-45,831	$-48,810	-0.1%

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

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DE'KEITHER STAMPS	PRESIDENT	1.0	Officer Director	$0	$0	$0
FRANK QUINN	SECRETARY/TREASURER	1.0	Officer Director	$0	$0	$0
JARED MORRISON	VICE PRESIDENT	1.0	Officer Director	$0	$0	$0
DAVID STARLING	DIRECTOR	1.0	Director	$0	$0	$0
JOHN MORGAN HUGHES	DIRECTOR	1.0	Director	$0	$0	$0
JOHNNY DONALDSON	DIRECTOR	1.0	Director	$0	$0	$0
MICHAEL MATTHEWS	DIRECTOR	1.0	Director	$0	$0	$0
PAT BROWN	DIRECTOR	1.0	Director	$0	$0	$0
WENDELL STRINGER	DIRECTOR	1.0	Director	$0	$0	$0

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	No data	No data	No data	No data
2024	$140,832	$186,663	$1,085,495	$-45,831
2023	$117,356	$166,166	$1,129,253	$-48,810
2022	$127,555	$140,312	$1,177,883	$-12,757
2021	$126,580	$91,238	$1,183,124	$35,342
2020	$203,929	$127,719	$1,167,342	$76,210
2019	$156,732	$151,019	$1,098,919	$5,713
2018	$153,109	$163,380	$1,067,138	$-10,271

Central Mississippi Development Co Inc