Overview
What is Mississippi Economic Resource Trust?
Mississippi Economic Resource Trust, based in New Orleans, Louisiana, is a nonprofit organization established with the primary mission to foster economic growth and investment within its service area and the state of Mississippi. The trust accomplishes this by providing funds to enhance the economic development of businesses and industries, either through seed capital corporations or similar entities. Additionally, it supports the Department of Economic Development of Mississippi with funds for a resource presentation center. The trust encourages private industry to contribute, invest, and participate in the economic development of Mississippi, following the principles of the Economic Development Reform Act. Furthermore, Mississippi Economic Resource Trust launched Project Ready, an industrial sites program, to make Southeast Mississippi development-ready, thereby attracting new industries and high-quality job opportunities to the region.
Is Mississippi Economic Resource Trust legitimate?
Mississippi Economic Resource Trust is a legitimate nonprofit organization registered as a 501(c)(6) entity. Mississippi Economic Resource Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $25,525
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Mississippi Economic Resource Trust?
The Mississippi Economic Resource Trust, established by Mississippi Power Company, aims to stimulate economic growth and investment within its service area and the state of Mississippi. This is achieved by providing funds to enhance business and industrial development through a seed capital corporation or similar entity. Additionally, the trust contributes funds to the Department of Economic Development for a resource presentation center. Furthermore, the trust encourages private industry to contribute, invest, and participate in the economic development of Mississippi, in accordance with the Economic Development Reform Act.
What is the revenue of Mississippi Economic Resource Trust?
Mississippi Economic Resource Trust's revenue in 2024 was $505,845.
Who are the executives of Mississippi Economic Resource Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $25,525
- Related: $0
- Other: $0
Where can I find the form 990 for Mississippi Economic Resource Trust?
Mississippi Economic Resource Trust's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Mississippi Economic Resource Trust
Mississippi Economic Resource Trust, a trust established by Mississippi Power Company, has a mission to stimulate economic growth and investment within the state of Mississippi. This is achieved through several means. Firstly, the trust provides financing to establish a seed capital corporation or a similar entity, which aims to improve the economic growth and development of businesses and industries in Mississippi. Secondly, the trust allocates funds to the Department of Economic Development of the state of Mississippi, supporting the establishment of a resource presentation center. Lastly, the trust encourages private industry to contribute, invest, and participate in the economic development of Mississippi, aligning with the principles outlined in the Economic Development Reform Act.
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Impact
October, 2024
The Mississippi Economic Resource Trust plays a crucial role in fostering economic growth and development throughout Mississippi. By providing essential funding, the Trust supports initiatives designed to enhance the business landscape within the state, including the establishment of a seed capital corporation. This investment not only aids new and existing businesses but also stimulates job creation and industrial development.
One of the Trust's key initiatives, Project Ready, cultivates a framework to prepare and enhance industrial sites in southeast Mississippi. This program aims to make these locations more attractive to prospective industries, thereby improving the quality of job opportunities available to the local workforce. By identifying suitable sites for development, Project Ready is instrumental in ensuring that southeast Mississippi stands ready to welcome new industries, facilitating a brighter economic future for the region.
Additionally, the Trust collaborates with the Department of Economic Development in Mississippi to establish a resource presentation center, further emphasizing its commitment to local economic advancement. By encouraging private sector involvement and investment, the Trust actively engages the broader community in the mission of economic enhancement, aligning with the objectives outlined in the Economic Development Reform Act. Overall, the Mississippi Economic Resource Trust significantly contributes to the sustainable development and prosperity of Mississippi's economy.
This information is meant to be a general summary of Mississippi Economic Resource Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $412,222
- Gross Receipts: $6,533,268
Assets and Liabilities:
- Total Assets: $9,156,627
- Total Liabilities: $0
- Net Assets: $9,156,627
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Organization Details
Founding Year
2009
NTEE Category
Code: T20I - Philanthropy
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