Organizations Filed Purposes:
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.
TO PROVIDE A SOURCE OF LONG-TERM FINANCING FOR SMALL BUSINESS CONCERNS AND THEIR GROWTH, MODERNIZATION AND EXPANSION.
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 $14,939,000 at September 30, 2019. Expenses incurred during the year in furtherance of this program service totaled $132,540.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Jeff Good | Director | 1 | $0 |
| Frank Quinn | Secretary/Treasurer | 1 | $0 |
| John May | DIRECTOR | 1 | $0 |
| Tom Kendall | DIRECTOR | 1 | $0 |
| Johnny Donaldson | DIRECTOR | 1 | $0 |
| De'Keither Stamps | Vice President | 1 | $0 |
| Jared Morrison | Director | 1 | $0 |
| Diane Delaware | Director | 1 | $0 |
| Wendell Stringer | Director | 1 | $0 |
| Wanda Cowart | President | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202002129349300110_public.xml