2024-06-05T14:54:26-05:00 2023-09-30 FORVIS LLP 1400 Meadowbrook Road Suite 300 Jackson MS 392116349 990 2022-10-01 640671015 Central Mississippi Development Co Inc % CATHY DUKE CENT 6019811511 1020 Centre Pointe Blvd Pearl MS 39208 CATHY DUKE DIRECTOR OF FINANCE 6019811511 2024-05-15 true CATHY DUKE 999009999 Peyton L Parks CPA P01850908 6019486700 3 2022 2023-04-26 12:10:37Z DE'KEITHER STAMPS 1020 Centre Pointe Blvd Pearl MS 39208 117356 false X N/A X 1981 MS TO PROVIDE A SOURCE OF LONG-TERM FINANCING FOR SMALL BUSINESS CONCERNS AND THEIR GROWTH, MODERNIZATION AND EXPANSION. 9 9 0 9 0 0 0 121536 85058 6019 32298 0 0 127555 117356 0 0 0 0 0 0 0 0 0 140312 166166 140312 166166 -12757 -48810 1177883 1129253 11808 11988 1166075 1117265 CENTRAL MISSISSIPPI DEVELOPMENT CO., INC. (CMDC) IS A NON-PROFIT CORPORATION ESTABLISHED AND AUTHORIZED UNDER THE SMALL BUSINESS INVESTMENT ACT OF 1958 TO PROVIDE A SOURCE OF LONG-TERM FINANCING FOR SMALL BUSINESS CONCERNS AND THEIR GROWTH, MODERNIZATION AND EXPANSION. CMDC PROVIDES FIXED ASSET FINANCING WHICH IS A BASIS FOR EXPANDING EMPLOYMENT AND INCREASING THE ECONOMIC BASE OF THE SEVEN COUNTY AREA IT SERVES. false false 150608 85058 Central Mississippi Development Co., Inc. (CMDC) is authorized to issue bonds. The proceeds from the issuance of bonds are loaned to small businesses to finance fixed assets. The bonds, which are guaranteed by the Small Business Administration, are repaid solely from the proceeds of the promissory notes issued. Since CMDC has no primary obligation under the bonds, the amount of the bonds outstanding is not shown on the financial statements. The amount of outstanding bonds and related notes receivable totaled approximately $13,648,000 at September 30, 2023. Expenses incurred during the year in furtherance of this program service totaled $150,608. 150608 false false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false true false false true 1 0 0 false false false false false false false false X 9 9 false false false false true true false true true false false true true true true true true false false X CATHY DUKE 6019811511 1020 CENTRE POINTE BLVD Pearl MS 39208 X De'Keither Stamps PRESIDENT 1.0 0.0 X X 0 0 0 Jared Morrison VICE PRESIDENT 1.0 0.0 X X 0 0 0 Frank Quinn SECRETARY/TREASURER 1.0 0.0 X X 0 0 0 David Starling DIRECTOR 1.0 0.0 X 0 0 0 Johnny Donaldson DIRECTOR 1.0 0.0 X 0 0 0 John Morgan Hughes DIRECTOR 1.0 0.0 X 0 0 0 Wendell Stringer DIRECTOR 1.0 0.0 X 0 0 0 Michael Matthews DIRECTOR 1.0 0.0 X 0 0 0 Pat Brown DIRECTOR 1.0 0.0 X 0 0 0 0 0 0 0 false false false 0 0 LOAN PROCESSING AND SERVICE FEES 522291 85058 85058 85058 32298 32298 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 117356 85058 32298 0 0 0 0 0 0 0 0 0 0 0 404 404 8580 8580 0 0 0 139907 139907 0 8331 8331 0 0 0 0 0 0 0 0 0 6574 6574 DUES, MEMBERSHIPS, & SUBS 1925 1925 MISCELLANEOUS EXPENSES 445 445 166166 150608 15558 0 100 100 1177783 1129153 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1177883 1129253 11808 11988 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11808 11988 X 1166075 1117265 0 0 1166075 1117265 1177883 1129253 -48810 X false true X false false 117356 117356 117356 166166 166166 166166 Schedule D, Part X, Line 2: MANAGEMENT HAS EVALUTED THE COMPANY'S INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. FORM 990, PAGE 6, PART IV, SECTION A, LINE 6: THE ORGANIZATION CONSISTS OF 32 MEMBERS that includes person that are representative of the following groups: internal controls, financial risk management, commercial lending, legal issues relating to commercial lending, corporate governance, community economic development, and workforce. the board of supervisors and mayors of the municipalities located in copiah, hinds, madison, rankin, simpson, warren and yazoo counties appoint the membership of the organization. each member serves four years and shall serve until his or her successor is appointed. the board of directors is composed of ten members. the members of the organization appoint the initial board of directors. afterwards, new members to the board of directors are appointed by the board and members of the organization can nominate new members for the board. The board of directors of the organization must have at least one director representing the economic, community, or workforce development fields and at least two directors representing the commercial lending field. the board of directors shall elect a president, vice-president and a secretary-treasurer. they shall serve a term of two years or until the election of his or her successor. FORM 990, PAGE 6, PART VI, SECTION A, LINE 7: MEMBERS OF THE ORGANIZATION ELECT THE ORGANIZATION'S GOVERNING BODY. ALL MEMBERS OF THE ORGANIZATION HAVE EQUAL VOTING RIGHTS. FORM 990, PAGE 6, PART VI, SECTION B, LINE 11B: AN ELECTRONIC COPY OF THE FORM 990 WAS DISTRIBUTED TO ALL MEMBERS OF THE GOVERNING BODY FOR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PAGE 6, PART IV, SECTION B, LINE 12C: CENTRAL MISSISSIPPI DEVELOPMENT COMPANY, INC. (CMDC) ENSURES ITS ASSOCIATES, OTHERWISE KNOWN AS OFFICERS, DIRECTORS, KEY EMPLOYEES, OR HOLDERS OF 10% OR MORE OF THE VALUE OF CMDC'S STOCK OR DEBT INSTRUMENTS, OR CLOSE RELATIVES DO NOT HAVE A REAL OR APPARENT CONFLICT OF INTEREST WITH ANY SMALL BUSINESS BORROWER, ASSOCIATES OF THE BORROWER, OR ANY CLOSE RELATIVES OF THE BORROWER. EVERY LOAN APPLICATION THAT CMDC USES HAS A "CERTIFICATION OR CONFLICT OF INTEREST" SECTION THAT WILL ASK QUESTIONS IN REFERENCE TO CONFLICTS OF INTEREST. FORM 990, PAGE 6, PART IV, SECTION B, LINE 15A & B: THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICER OR DIRECTOR. FORM 990, PAGE 6, PART IV, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 PART IX LINE 11G DESCRIPTION:CONTRACTUAL SERVICES TOTAL FEES:139907 CENTRAL MS PLANNING & DEVELOP DISTRICT 1020 CENTRE POINTE BLVD PEARL MS 39208 640474698 COMM. IMPROV. MS GOVRNMTL NA false false false false false false false false false false false false false true true false false false false CENTRAL MS PLANNING & DEVELOP DISTRICT