Innovate Mississippi
EIN: 640901569 · Jackson, MS · NTEE: U022
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $1.7M |
| Net Assets | $510K |
Is Innovate Mississippi Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Innovate Mississippi
Innovate Mississippi (EIN: 640901569) is a nonprofit organization based in Jackson, MS, classified under NTEE code U022. The organization reported total revenue of $2.6M and total assets of $6.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Innovate Mississippi's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Innovate Mississippi is a mid-size nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.0M |
| Total Expenses | $1.7M |
| Surplus / Deficit | +$315K |
| Total Assets | $1.5M |
| Total Liabilities | $1.0M |
| Net Assets | $510K |
| Operating Margin | 15.8% |
| Debt-to-Asset Ratio | 66.5% |
| Months of Reserves | 10.8 months |
Financial Health Grade: A
In 2023, Innovate Mississippi reported a surplus of $315K with revenue exceeding expenses, holds 10.8 months of operating reserves (strong position), has a debt-to-asset ratio of 66.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Innovate Mississippi's revenue has declined at a compound annual growth rate (CAGR) of -4.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +14.4% | -8.4% | +56.5% |
| 2022 | +17.8% | +5.4% | +3.8% |
| 2021 | -20.1% | -9.3% | -6.1% |
| 2020 | +43.2% | +19.7% | +12.8% |
| 2019 | -50.2% | -7.4% | -47.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 8000 |
| IRS Ruling Date | 1999 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Innovate Mississippi has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Innovate Mississippi with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $315K, with revenue exceeding expenses.
- Debt-to-asset ratio: 66.5%.
Frequently Asked Questions about Innovate Mississippi
Is Innovate Mississippi a legitimate charity?
Based on AI analysis of IRS 990 filings, Innovate Mississippi (EIN: 640901569) insufficient data. 0 red flags identified, 0 strengths noted.
How does Innovate Mississippi spend its money?
Detailed spending breakdown data is not yet available for Innovate Mississippi. Check back for updated IRS 990 analysis.
Are donations to Innovate Mississippi tax-deductible?
Innovate Mississippi is registered as a tax-exempt nonprofit (EIN: 640901569). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Innovate Mississippi located?
Innovate Mississippi is headquartered in Jackson, Mississippi and files with the IRS under EIN 640901569. It is classified under NTEE code U022.
How many years of IRS 990 filings does Innovate Mississippi have?
Innovate Mississippi has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.6M in total revenue.
Filing History
IRS 990 filing history for Innovate Mississippi showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Innovate Mississippi's revenue has declined by 43.8%, moving from $3.6M to $2.0M. Total assets increased by 154.2% over the same period, from $599K to $1.5M. Total functional expenses fell by 54.8%, from $3.7M to $1.7M. In its most recent filing year (2023), Innovate Mississippi reported a surplus of $315K, with revenue exceeding expenses. The organization holds $1.0M in liabilities against $1.5M in assets (debt-to-asset ratio: 66.5%), resulting in net assets of $510K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.0M | $1.7M | $1.5M | $1.0M | — | View 990 |
| 2022 | $1.7M | $1.8M | $972K | $777K | — | View 990 |
| 2021 | $1.5M | $1.7M | $937K | $652K | — | View 990 |
| 2020 | $1.9M | $1.9M | $998K | $452K | — | View 990 |
| 2019 | $1.3M | $1.6M | $884K | $272K | — | View 990 |
| 2018 | $2.6M | $1.7M | $1.7M | $753K | — | View 990 |
| 2017 | $2.7M | $2.1M | $474K | $423K | — | View 990 |
| 2016 | $3.1M | $2.9M | $574K | $1.2M | — | View 990 |
| 2015 | $3.0M | $3.0M | $120K | $925K | — | View 990 |
| 2014 | $3.1M | $3.2M | $265K | $1.1M | — | View 990 |
| 2013 | $3.5M | $3.7M | $202K | $886K | — | View 990 |
| 2012 | $3.2M | $3.3M | $486K | $670K | — | View 990 |
| 2011 | $3.6M | $3.7M | $599K | $685K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.0M, expenses of $1.7M, and assets of $1.5M (revenue +14.4% year-over-year).
- 2022: Revenue of $1.7M, expenses of $1.8M, and assets of $972K (revenue +17.8% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.7M, and assets of $937K (revenue -20.1% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.9M, and assets of $998K (revenue +43.2% year-over-year).
- 2019: Revenue of $1.3M, expenses of $1.6M, and assets of $884K (revenue -50.2% year-over-year).
- 2018: Revenue of $2.6M, expenses of $1.7M, and assets of $1.7M (revenue -4.0% year-over-year).
- 2017: Revenue of $2.7M, expenses of $2.1M, and assets of $474K (revenue -13.4% year-over-year).
- 2016: Revenue of $3.1M, expenses of $2.9M, and assets of $574K (revenue +5.6% year-over-year).
- 2015: Revenue of $3.0M, expenses of $3.0M, and assets of $120K (revenue -4.5% year-over-year).
- 2014: Revenue of $3.1M, expenses of $3.2M, and assets of $265K (revenue -10.5% year-over-year).
- 2013: Revenue of $3.5M, expenses of $3.7M, and assets of $202K (revenue +10.1% year-over-year).
- 2012: Revenue of $3.2M, expenses of $3.3M, and assets of $486K (revenue -11.4% year-over-year).
- 2011: Revenue of $3.6M, expenses of $3.7M, and assets of $599K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Innovate Mississippi:
Data Sources and Methodology
This transparency report for Innovate Mississippi is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.