Innovate Mississippi (EIN 640901569) - Form 990 Financial Analysis & Trantor Score

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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

1998

Legal Domicile

Phone

6019603644

Tax Period

2023-07-01 to 2024-06-30

Innovate Mississippi, founded in 1998, is a community nonprofit in the Science & Technology sector that reported $4.6M in total revenue in fiscal year 2023. Revenue surged 131% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.6M, a strong 57% operating margin.

Mission

THE PURPOSE OF THE ORGANIZATION IS TO DRIVE INNOVATION AND TECHNOLOGY-BASED ECONOMIC DEVELOPMENT FOR THE STATE OF MISSISSIPPI.

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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 $4,347,062

Program Service Revenue $80,614

Investment Income $136,917

Other Revenue $48,284

TOTAL REVENUE $4,612,877

Expense Breakdown

Grants Paid $182,500

Salaries & Benefits $597,435

Fundraising Expenses $0

Program Expenses $1,662,273

Other Expenses $1,205,038

TOTAL EXPENSES $1,984,973

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,612,877	$1,998,207	+1.3%
Expenses	$1,984,973	$1,683,360	+0.2%
Net Income	$2,627,904	$314,847	+7.3%

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

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

$270,816

Total Directors

$160,367

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES ANTHONY JEFF JR	PRESIDENT	40.0	Officer Director	$136,602	$23,765	$160,367
ASHBY FOOTE	DIRECTOR	1.0	Director	$0	$0	$0
BRAD MCMULLAN	DIRECTOR	1.0	Director	$0	$0	$0
GERARD GIBERT	DIRECTOR	1.0	Director	$0	$0	$0
JOHN WALTERS	DIRECTOR	1.0	Director	$0	$0	$0
LAURA HIPP MAYER	DIRECTOR	1.0	Director	$0	$0	$0
MARK HENDERSON	DIRECTOR	1.0	Director	$0	$0	$0
NASHLIE SEPHUS	DIRECTOR	1.0	Director	$0	$0	$0
R MAYO FLINT III	DIRECTOR	1.0	Director	$0	$0	$0
RACHEL M DEVAUGHAN-PATRICK	DIRECTOR	1.0	Director	$0	$0	$0
JANET PARKER	SECRETARY	40.0	Officer	$100,078	$10,371	$110,449
LINDSEY W BENEFIELD	INVESTMENT DIRECTOR	40.0	Highest	$100,210	$4,476	$104,686
Robert H Buseck	MS Coding Academies Executive Director	40.0	Highest	$115,710	$11,450	$127,160

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	No data	No data	No data	No data
2024	$4,612,877	$1,984,973	$6,776,335	$2,627,904
2023	$1,998,207	$1,683,360	$1,521,742	$314,847
2022	$1,747,154	$1,837,164	$972,487	$-90,010
2021	$1,482,573	$1,742,792	$937,142	$-260,219
2020	$1,855,161	$1,922,009	$997,815	$-66,848
2019	$1,295,881	$1,605,979	$884,324	$-310,098
2018	$2,602,489	$1,733,780	$1,675,367	$868,709

Innovate Mississippi