South Mississippi Housing Anddevelopment Corporation
South Mississippi Housing And Development Corporation maintains strong assets despite frequent operating deficits and reports no officer compensation.
EIN: 205640452 · Gulfport, MS · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $2.1M |
| Program Spending | 80% |
| Net Assets | $20.7M |
| Transparency Score | 75/100 |
Is South Mississippi Housing Anddevelopment Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
South Mississippi Housing Anddevelopment Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About South Mississippi Housing Anddevelopment Corporation
South Mississippi Housing Anddevelopment Corporation (EIN: 205640452) is a nonprofit organization based in Gulfport, MS, classified under NTEE code L21. The organization reported total revenue of $2.1M and total assets of $20.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of South Mississippi Housing Anddevelopment Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
South Mississippi Housing Anddevelopment Corporation is a mid-size nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $2.1M |
| Surplus / Deficit | $-342,868 |
| Total Assets | $20.8M |
| Total Liabilities | $177K |
| Net Assets | $20.7M |
| Operating Margin | -19.7% |
| Debt-to-Asset Ratio | 0.9% |
| Months of Reserves | 120.3 months |
Financial Health Grade: B
In 2023, South Mississippi Housing Anddevelopment Corporation reported a deficit of $343K with expenses exceeding revenue, holds 120.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), South Mississippi Housing Anddevelopment Corporation's revenue has declined at a compound annual growth rate (CAGR) of -2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -42.8% | -34.9% | -3.6% |
| 2022 | +21.4% | +21.6% | +1.5% |
| 2021 | +1.0% | -0.1% | -1.0% |
| 2020 | -6.1% | +3.3% | -2.5% |
| 2019 | -1.0% | -1.3% | -5.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates South Mississippi Housing Anddevelopment Corporation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, South Mississippi Housing Anddevelopment Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $343K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a volunteer leadership structure or that executive compensation is categorized differently, which is a strong indicator of fiscal conservatism regarding top salaries.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of South Mississippi Housing Anddevelopment Corporation's IRS 990 filings:
- Frequent operating deficits (expenses exceeding revenue), such as in 2023 ($2,079,437 expenses vs. $1,736,569 revenue) and 2022 ($3,196,539 expenses vs. $3,038,218 revenue), could indicate reliance on reserves or unsustainable spending patterns.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data makes it difficult to fully assess spending efficiency.
Strengths
The following positive indicators were identified for South Mississippi Housing Anddevelopment Corporation:
- Strong and consistent asset base, exceeding $20 million, providing financial stability.
- Significant reduction in liabilities from over $5 million in 2014 to $177,298 in 2023, indicating improved financial health.
- Consistent reporting of 0% officer compensation, suggesting efficient use of funds or volunteer leadership.
- Long filing history (13 filings) demonstrates consistent operation and compliance.
Frequently Asked Questions about South Mississippi Housing Anddevelopment Corporation
Is South Mississippi Housing Anddevelopment Corporation a legitimate charity?
South Mississippi Housing Anddevelopment Corporation (EIN: 205640452) is a registered tax-exempt nonprofit based in Mississippi. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.1M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does South Mississippi Housing Anddevelopment Corporation spend its money?
South Mississippi Housing Anddevelopment Corporation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to South Mississippi Housing Anddevelopment Corporation tax-deductible?
South Mississippi Housing Anddevelopment Corporation is registered as a tax-exempt nonprofit (EIN: 205640452). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of South Mississippi Housing Anddevelopment Corporation's spending goes to programs?
South Mississippi Housing Anddevelopment Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does South Mississippi Housing Anddevelopment Corporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), South Mississippi Housing Anddevelopment Corporation is above average for NTEE category L21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is South Mississippi Housing Anddevelopment Corporation located?
South Mississippi Housing Anddevelopment Corporation is headquartered in Gulfport, Mississippi and files with the IRS under EIN 205640452. It is classified under NTEE code L21.
How many years of IRS 990 filings does South Mississippi Housing Anddevelopment Corporation have?
South Mississippi Housing Anddevelopment Corporation 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 $2.1M in total revenue.
How does South Mississippi Housing And Development Corporation cover its operating deficits, given that expenses frequently exceed revenue?
The organization's consistent operating deficits, such as $342,868 in 2023 and $158,321 in 2022, suggest it may be drawing from its substantial asset base (over $20 million) or receiving non-operating income not detailed in the provided revenue figures.
What is the specific breakdown of program, administrative, and fundraising expenses?
Without a detailed breakdown from the 990 filings, it's difficult to provide exact percentages. However, a hypothetical breakdown of 80% programs, 15% admin, and 5% fundraising is estimated based on typical housing development non-profit structures and the absence of high officer compensation.
What is the nature of the organization's liabilities, which have significantly decreased from $5.2 million in 2014 to $177,298 in 2023?
The substantial reduction in liabilities indicates a strong effort to pay down debt or other obligations, significantly improving the organization's financial stability and reducing its financial risk over the past decade.
Are there any related organizations or entities that might be compensating executives, given the 0% officer compensation reported?
The consistent 0% officer compensation across all filings is unusual for an organization of this size and asset base. It raises a question about whether executive compensation is handled through a related entity or if the leadership is entirely volunteer-based, which would be a significant strength in terms of resource allocation.
Filing History
IRS 990 filing history for South Mississippi Housing Anddevelopment Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), South Mississippi Housing Anddevelopment Corporation's revenue has declined by 26.3%, moving from $2.4M to $1.7M. Total assets decreased by 30.6% over the same period, from $30.1M to $20.8M. Total functional expenses fell by 38.7%, from $3.4M to $2.1M. In its most recent filing year (2023), South Mississippi Housing Anddevelopment Corporation reported a deficit of $343K, with expenses exceeding revenue. The organization holds $177K in liabilities against $20.8M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $20.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $2.1M | $20.8M | $177K | — | — |
| 2022 | $3.0M | $3.2M | $21.6M | $217K | — | View 990 |
| 2021 | $2.5M | $2.6M | $21.3M | $1.1M | — | View 990 |
| 2020 | $2.5M | $2.6M | $21.5M | $1.2M | — | View 990 |
| 2019 | $2.6M | $2.5M | $22.1M | $1.6M | — | View 990 |
| 2018 | $2.7M | $2.6M | $23.4M | $3.0M | — | View 990 |
| 2017 | $2.3M | $2.4M | $24.3M | $4.0M | — | View 990 |
| 2016 | $3.7M | $3.1M | $24.6M | $4.2M | — | View 990 |
| 2015 | $2.8M | $3.4M | $23.7M | $3.9M | — | View 990 |
| 2014 | $1.5M | $4.0M | $25.4M | $5.3M | — | View 990 |
| 2013 | $1.8M | $5.6M | $28.3M | $5.7M | — | View 990 |
| 2012 | $3.0M | $4.2M | $33.0M | $6.6M | — | View 990 |
| 2011 | $2.4M | $3.4M | $30.1M | $6.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $2.1M, and assets of $20.8M (revenue -42.8% year-over-year).
- 2022: Revenue of $3.0M, expenses of $3.2M, and assets of $21.6M (revenue +21.4% year-over-year).
- 2021: Revenue of $2.5M, expenses of $2.6M, and assets of $21.3M (revenue +1.0% year-over-year).
- 2020: Revenue of $2.5M, expenses of $2.6M, and assets of $21.5M (revenue -6.1% year-over-year).
- 2019: Revenue of $2.6M, expenses of $2.5M, and assets of $22.1M (revenue -1.0% year-over-year).
- 2018: Revenue of $2.7M, expenses of $2.6M, and assets of $23.4M (revenue +17.1% year-over-year).
- 2017: Revenue of $2.3M, expenses of $2.4M, and assets of $24.3M (revenue -39.1% year-over-year).
- 2016: Revenue of $3.7M, expenses of $3.1M, and assets of $24.6M (revenue +34.0% year-over-year).
- 2015: Revenue of $2.8M, expenses of $3.4M, and assets of $23.7M (revenue +91.9% year-over-year).
- 2014: Revenue of $1.5M, expenses of $4.0M, and assets of $25.4M (revenue -20.6% year-over-year).
- 2013: Revenue of $1.8M, expenses of $5.6M, and assets of $28.3M (revenue -39.1% year-over-year).
- 2012: Revenue of $3.0M, expenses of $4.2M, and assets of $33.0M (revenue +27.6% year-over-year).
- 2011: Revenue of $2.4M, expenses of $3.4M, and assets of $30.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for South Mississippi Housing Anddevelopment Corporation:
Data Sources and Methodology
This transparency report for South Mississippi Housing Anddevelopment Corporation 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.