Higher Purpose Co (EIN 821629178) - 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

2018

Legal Domicile

Principal Officer

Timothy E Lampkin

Phone

6623518849

Tax Period

2024-01-01 to 2024-12-31

Higher Purpose Co, founded in 2018, is a community nonprofit in the Community Improvement sector that reported $1.8M in total revenue in fiscal year 2024. Expenses of $2.4M exceeded revenue, resulting in a 33% operating deficit.

Mission

Higher Purpose Co mission is to improve intergenerational economic opportunity across Mississippi by prioritizing Black communities impacted by poverty. Our key programming pillars are Business Ownership, Food Justice, Arts/Culture, Workforce Development, and Public Policy. Utilizing an integrated model of community education, digital storytelling, and participatory grantmaking to create systemic impact.

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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 $1,806,637

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,806,637

Expense Breakdown

Grants Paid $40,000

Salaries & Benefits $1,106,108

Fundraising Expenses $0

Program Expenses $2,353,513

Other Expenses $1,251,609

TOTAL EXPENSES $2,397,717

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,806,637	$1,823,132	0.0%
Expenses	$2,397,717	$2,591,129	-0.1%
Net Income	$-591,080	$-767,997	-0.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dr Sondra Collins	Director	2.00	Director	$0	$0	$0
Derek Dewayne Hopson Jr	President	2.00	Director	$0	$0	$0
Dr Temika Simmons	Vice President	2.00	Director	$0	$0	$0
Mara Scott	Secretary	2.00	Director	$0	$0	$0
Jacqueline Johnson	Director	2.00	Director	$0	$0	$0
Rosie Brown	Director	2.00	Director	$0	$0	$0
Pamela Hadley	Director	2.00	Director	$0	$0	$0
Timothy E Lampkin	CEO	40.00	Officer	$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
2024	$1,806,637	$2,397,717	$739,719	$-591,080
2024	No data	No data	No data	No data
2023	$1,823,132	$2,591,129	$1,289,223	$-767,997
2022	$864,131	$1,065,452	$1,817,362	$-201,321
2021	$1,518,587	$1,140,551	$2,003,170	$378,036
2021	$1,518,368	$1,165,834	$2,000,669	$352,534
2020	$2,226,835	$1,360,344	$1,980,554	$866,491
2019	$1,522,645	$349,152	$1,200,735	$1,173,493

Higher Purpose Co