2024-05-02T11:50:35-05:00 2023-06-30 FORVIS LLP PO BOX 3667 LITTLE ROCK AR 722033667 990 2022-07-01 640303084 Millsaps College % WHITNEY EMRICH MILL 6019741105 PO Box 150433 Jackson MS 39210 WHITNEY EMRICH VP FOR FINANCE/ADMIN 6019741100 2024-05-15 true WHITNEY EMRICH 000000000 Amber Sherrill CPA P00748683 5013721040 3 2022 2023-04-26 12:10:37Z Robert Pearigen PO Box 150433 Jackson MS 39210 92688586 false X www.millsaps.edu X 1890 MS MILLSAPS COLLEGE IS A PRIVATE NONPROFIT LIBERAL ARTS COLLEGE BASED IN JACKSON, MS; PROVIDING EDUCATION AND TRAINING SERVICES FOR STUDENTS AT THE UNDERGRADUATE AND GRADUATE LEVEL 40 40 630 40 9569 0 11617109 10361757 36950157 34256340 8728551 11286465 2102346 6363932 59398163 62268494 20292942 18730847 0 0 16916016 16948820 0 19000 3569101 16922690 16398775 54131648 52097442 5266515 10171052 191983134 201328544 34584314 32774906 157398820 168553638 MILLSAPS COLLEGE IS DEDICATED TO ACADEMIC EXCELLENCE, TO OPEN INQUIRY AND FREE EXPRESSION, TO THE EXPLORATION OF FAITH TO INFORM VOCATION, AND TO THE INNOVATIVE SHAPING OF THE SOCIAL, ECONOMIC, AND CULTURAL PROGRESS OF OUR REGION. false false 37136733 18730847 30581620 Educational facilities and personnel providing an ideal atmosphere for learning for approximately 698 students. This is achieved with one teacher for every 9 students and an average class size of 12. 634904 0 5444746 Auxiliary enterprises including the housing of 86% of the approximately 698 students enrolled. 37771637 true true false false false false false false false true true true false true true false false true true true true true true true false false false false true true true false false false false false false false false false false true false false false true true true true false false true 205 0 true 630 true true true false false false false true true false false false false false false X 40 40 false false false false false false false true true false false true true true true true true true true true true MS X WHITNEY EMRICH 6019741105 1701 N STATE STREET JACKSON MS 39210 X Dr Robert Pearigen President 40.0 0.0 X 310544 0 37450 HARVEY FISER DEAN ELSE SCHOOL MGMT 40.0 0.0 X 192881 0 27015 Jesse Beeler Professor of Accounting 40.0 0.0 X 187943 0 29631 Dr Keith Dunn Provost & Dean of the College 40.0 0.0 X 170489 0 37399 Whitney Emrich VP of FInance 40.0 0.0 X 168064 0 37088 MARTIN SMITH VP INSTITUTIONAL DEVELOPMENT 40.0 0.0 X 172275 0 28286 TIMOTHY WARD PROFESSOR OF CHEMISTRY 40.0 0.0 X 132012 0 68100 Guy M McClain Assoc. Professor of Accounting 40.0 0.0 X 182294 0 15535 Annie Mitchell VP of Marketing and Communicat 40.0 0.0 X 165070 0 29769 Beth Clarke VP of Enrollment 40.0 0.0 X 162186 0 32515 Blakely Fender Professor of Else School 40.0 0.0 X 137512 0 32613 Megan James Dean of Students 40.0 0.0 X 102816 0 31253 AARON PELCH VP OF ENROLLMENT 40.0 0.0 X 104405 0 22594 Paul Benton Trustee 1.0 0.0 X 0 0 0 Jim Coggin Trustee 1.0 0.0 X 0 0 0 Tom Fowlkes Trustee 1.0 0.0 X 0 0 0 Maurice Hall Trustee 1.0 0.0 X 0 0 0 Monica Sethi Harrigill Trustee 1.0 0.0 X 0 0 0 John Lindsey Trustee 1.0 0.0 X 0 0 0 Bud Robinson Jr Trustee 1.0 0.0 X 0 0 0 Roger M Smith Trustee 1.0 0.0 X 0 0 0 Ryan Beckett Trustee 1.0 0.0 X 0 0 0 Michael Bourland Trustee 1.0 0.0 X 0 0 0 Katherine B Brady Trustee 1.0 0.0 X 0 0 0 Rev Dr Stephen T Cook Trustee 1.0 0.0 X 0 0 0 Rev Claire Dobbs Trustee 1.0 0.0 X 0 0 0 Mark Freeman Trustee 1.0 0.0 X 0 0 0 Chris Cheek Trustee 1.0 0.0 X 0 0 0 David Marsh Trustee 1.0 0.0 X 0 0 0 Holly Powell Lange Trustee 1.0 0.0 X 0 0 0 Charles R Lathem Trustee 1.0 0.0 X 0 0 0 Monte Rector Trustee 1.0 0.0 X 0 0 0 Steve Sansom Trustee 1.0 0.0 X 0 0 0 Donna Ruth Roberts Trustee 1.0 0.0 X 0 0 0 David B Russell Trustee 1.0 0.0 X 0 0 0 Mike Sturdivant Trustee 1.0 0.0 X 0 0 0 Ward W Van Skiver Trustee 1.0 0.0 X 0 0 0 Penny Sanders Varner Trustee 1.0 0.0 X 0 0 0 Betsy S Walkup Trustee 1.0 0.0 X 0 0 0 Cord Campbell Trustee 1.0 0.0 X 0 0 0 Susan Eskridge Frazier Trustee 1.0 0.0 X 0 0 0 Monty Hamilton Trustee 1.0 0.0 X 0 0 0 David Loper Trustee 1.0 0.0 X 0 0 0 Robert Lyle Trustee 1.0 0.0 X 0 0 0 Rev Joseph T Reiff Trustee 1.0 0.0 X 0 0 0 Rev Cary Stockett Trustee 1.0 0.0 X 0 0 0 Elizabeth ANN Buyan Trustee 1.0 0.0 X 0 0 0 Rev David Wesley Carroll Trustee 1.0 0.0 X 0 0 0 April Slayden Mitchell Trustee 1.0 0.0 X 0 0 0 Amanda Sanders Turner Trustee 1.0 0.0 X 0 0 0 REV MIKE HICKS TRUSTEE 1.0 0.0 X 0 0 0 BISHOP SHARMA LEWIS TRUSTEE 1.0 0.0 X 0 0 0 REV EDDIE RESTER TRUSTEE 1.0 0.0 X 0 0 0 STACEY GAINES VP OF MARKETING AND COMM. 40.0 0.0 X 0 0 0 2188491 0 429248 31 false true false ARAMARK CORPORATION PO BOX 978839 DALLAS TX 753978839 FOOD SERVICES 2124580 SEJ SERVICES LLC 222 W COLEMAN BLVD MOUNT PLEASANT SC 29464 CLEANING & MAINT 723653 ANDERCORP LLC 1404 24TH AVE GULFPORT MS 39501 CONSTRUCTION 908537 ELLUCIAN INC 2003 EDMUND HALLEY DRIVE RESTON VA 20191 SOFTWARE SERVICES 333520 ROTOLO CONSULTANTS INC 38001 BROWNSVILLAGE RD SIDELL LA 70460 LANDSCAPING 260353 14 454778 9906979 3105630 10361757 Tuition and Fees 611600 28238849 28238849 Sales and Services Auxiliary Enterprises 611710 5444746 5444746 Income From Funds Held in Trust By Others 611600 572745 572745 34256340 1550041 -5769 1555810 0 15338 15338 54178 54178 0 54178 54178 38241914 28505490 9736424 9736424 9736424 0 0 0 10636 10177 459 459 3674451 1904425 1770026 1770026 Employee Retention Credit 900099 4455126 4455126 Specialty Tags 900099 10553 10553 Forfeited Deposits 900099 7750 7750 50502 50502 4523931 62268494 36026366 9569 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Stock 22826369 F REAL ESTATE FUND 1356366 F 24182735 Funds Held in Trust 15370757 Investment in Millsaps Dev Inc 6800000 Cash Surrender Value Life Ins 3110518 Other Assets 63 25281338 0 Advance Under Government Loans 303393 Liability for Asset Retirement 304572 Due to Aramark 77193 685158 Part V, Line 4: The intended uses of the endowment are primarily student scholarships, faculty chairs and salaries and academic departmental support. Part X, Line 2 MANAGEMENT HAS EVALUATED THE COLLEGE'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. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART 1, LINE 3: THE POLICY IS PUBLICIZED THROUGH CATALOGS, THE WEBSITE, AND ANY PUBLICATIONS FOR ADMISSIONS. SCHEDULE E, PART 1, LINE 6A FUNDS PROVIDED BY THE UNITED STATES GOVERNMENT UNDER THE FEDERAL PERKINS STUDENT LOAN PROGRAMS ARE FOR REVOLVING LOANS TO QUALIFIED STUDENTS. THESE FUNDS ARE ULTIMATELY REFUNDABLE TO THE GOVERNMENT AND ARE INCLUDED IN LIABILITIES. IN ADDITION, THE COLLEGE ALSO RECEIVES FEDERAL FUNDS RELATED TO UNSUBSIDIZED AND SUBSIDIZED DIRECT LOANS, PLUS LOANS, PELL GRANTS, SEOG GRANTS AND THE FEDERAL WORK STUDY PROGRAM. true Central America and the Caribbean 0 0 Investments 15260787 East Asia and the Pacific 0 0 Program Services STUDY ABROAD PROGRAM 5452 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD PROGRAM 63697 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD PROGRAM 9343 North America 0 0 Program Services STUDY ABROAD PROGRAM 94052 North America 0 0 Program Services ACADEMIC FACILITIES 51066 North America 0 0 Program Services RESEARCH 70942 North America 0 0 Program Services GRANTS 681146 0 0 0 0 16236485 16236485 North America RESEARCH 23868 WIRE 0 1 SCHOLARSHIPS 23 657278 WIRE true false true true false false Part I, Line 2: Procedures are in place for monitoring the use of grant funds outside the United States. Millsaps sponsors the activities of Kaxil Kiuic, a Mexican Nonprofit Organization. Kaxil Kiuic is dedicated to preserving the environment and the cultural heritage of the Maya by promoting knowledge through educational programs centered at Helen Moyers Biocultural Reserve. Millsaps budgets annually for the funds provided to Kaxil Kiuic and monitors adherence to that budget. The reserve director provides an account of these funds to the reserve Board of Directors. Procedures and conditions are designed to insure that individuals receiving disbursements are adequately investigated to insure that they are qualifying recipients. Students receiving scholarships and fellowships are judged worthy based on the institution's assessment of academic achievement, financial need, and other similar standards. PART 1, LINE 3: MILLSAPS COLLEGE OWNS AN INTEREST IN MAGNITUDE INTERNATIONAL, HEDGE FUNDS, AND BLACKROCK APPRECIATION FUND IV DOMICILED IN THE CAYMAN ISLANDS. THE BOOK VALUE OF THESE INVESTMENTS AS OF 06/30/2023 WAS $15,260,787. PART IV, LINE 1: MILLSAPS INDIRECTLY TRANSFERRED PROPERTY TO FOREIGN CORPORATIONS THROUGH ITS INVESTMENT IN DOMESTIC PARTNERSHIPS. ONE TRANSFER FROM FEG SELECT, LLC TO REDWHEEL EMERGING MARKETS EQUITY FUND LTD. WAS OVER THE REPORTING THRESHOLD FOR FORM 926. PART IV, LINE 3: MILLSAPS DID NOT MEET REQUIREMENTS TO FILE FORM 5471 DURING THE FISCAL YEAR ENDED 6/30/2023 FOR ITS OWNERSHIP INTEREST IN A FOREIGN CORPORATION. THEREFORE, FORM 5471 WAS NOT FILED BY MILLSAPS. PART IV, LINE 4 THE COLLEGE WAS AN INDIRECT SHAREHOLDER OF A PASSIVE FOREIGN INVESTMENT COMPANY (PFIC) OR A QUALIFIED ELECTING FUND DURING THE TAX YEAR. PER THE INSTRUCTIONS TO FORM 8621, A TAX-EXEMPT ORGANIZATION THAT DOES NOT HAVE DISTRIBTUIONS SUBJECT TO UNRELATED BUSINESS INCOME TAX FROM A PFIC IS NOT REQUIRED TO FILE THE FORM. THE COLLEGE IS A TAX-EXEMPT ORGANIZATION. THERE WERE NO DISTRIBUTIONS FROM THE PFIC THAT WERE SUBJECT TO UNRELATED BUSINESS INCOME TAX. ACCORDINGLY, A FORM 8621 WAS NOT FILED THIS TAX YEAR. X X X X X X true JOHNSON GROSSNICKLE AND ASSOCIATES 29 S PARK BLVD GREENWOOD IN 46143 CONSULTING false 0 19000 0 0 19000 0 MS NOT REQUIRED FOR RAFFLES 1701 N STATE STREET JACKSON MS 39210 true Scholarships 665 18049701 0 N/A N/A Part I, Line 2: Procedures and conditions are designed to insure that individuals receiving disbursements are adequately investigated to insure that they are qualifying recipients. Students receiving scholarships and fellowships are judged worthy based on the institution's assessment of academic achievement, financial need, and other similar standards. X true true X X X X X false false false false false false false false false Jesse Beeler Professor of Accounting 170234 0 15525 0 2184 0 6881 0 22750 0 217574 0 0 0 Dr Robert Pearigen President 305349 0 545 0 4650 0 15250 0 22200 0 347994 0 0 0 Beth Clarke VP of Enrollment 157763 0 4208 0 215 0 4229 0 28286 0 194701 0 0 0 Whitney Emrich VP of FInance 167907 0 0 0 157 0 9005 0 28083 0 205152 0 0 0 Annie Mitchell VP of Marketing and Communicat 162678 0 2168 0 224 0 6524 0 23245 0 194839 0 0 0 Guy M McClain Assoc. Professor of Accounting 182039 0 0 0 255 0 7083 0 8452 0 197829 0 0 0 Blakely Fender Professor of Else School 101091 0 36280 0 141 0 5046 0 27567 0 170125 0 0 0 Dr Keith Dunn Provost & Dean of the College 169305 0 500 0 684 0 9113 0 28286 0 207888 0 0 0 HARVEY FISER DEAN ELSE SCHOOL MGMT 185287 0 6900 0 694 0 9203 0 17812 0 219896 0 0 0 MARTIN SMITH VP INSTITUTIONAL DEVELOPMENT 156635 0 14992 0 648 0 0 0 28286 0 200561 0 0 0 TIMOTHY WARD PROFESSOR OF CHEMISTRY 99181 0 32362 0 469 0 5431 0 62669 0 200112 0 0 0 Part I, Line 1a: DISCRETIONARY SPENDING ACCOUNT: ROBERT PEARIGEN ALL NON-EXCLUDABLE BENEFITS PROVIDED ARE INCLUDED IN THE COMPENSATION OF THE RECIPIENTS. A MISSISSIPPI BUSINESS FINANCE CORP 640679132 2022-03-15 40000000 SEE PART VI false false false A 1936413 0 40000000 0 0 0 233551 0 0 0 28812650 10953799 true true true true A false false false false 0 false false false true A false true false false false false 0 false 0 false true A true SCHEDULE K, PART I, LINE A, COLUMN (F) & FORM 990, PART X, LINE 20: ON MARCH 15, 2022, THE COLLEGE ENTERED INTO A LOAN THROUGH THE MISSISSIPPI BUSINESS FINANCE CORPORATION IN THE AMOUNT OF $40,000,000. THE PURPOSE OF THE TAX-EXEMPT LOAN WAS TO REPAY THE COLLEGE PROJECT BONDS OF 2008 AND TO PROVIDE FINANCING FOR FUTURE CAPITAL PROJECTS. X 44 3103130 FMV X OTHER 1 2500 FMV false true false SCHEDULE M, PART 1, LINE 9, COLUMN B THE AMOUNT REPORTED IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS. Form 990, PAGE 6, PART VI, SECTION B, LINE 11B: The Form 990 is reviewed in detail by the audit committee prior to filing with the IRS. A copy of the Form 990 is then provided to the entire Board prior to filing with the IRS. Form 990, PAGE 6, PART VI, SECTION B, LINE 12C: Board members and officers complete and file a written conflict of interest statement annually. These statements are maintained in the Business office. The Business Office reviews and reports all findings on the Form 990. If a conflict of interest exists, the board member does not vote on the specific issue. FORM 990, PAGE 6, PART VI, SECTION B, LINE 15A&B Compensation for the President is reviewed and approved by the Compensation and Executive Committees of the Board. Compensation for other officers is approved by the President. Compensation for officers is determined from review of market comparisons and performance measurements with other similar institutions. FORM 990, PAGE 6, PART VI, SECTION C, LINE 19 The organization's governing documents and conflict of interest policy are available to the public upon request. FORM 990, PAGE 12, PART XI, LINE 9: INCREASE IN CASH SURRENDER VALUE 160,727 CHANGE IN VALUE IN SPLIT INTERESTS 47,355 CHANGE IN BENEFICIAL TRUST 1,033,466 BOOK TAX DIFFERENCE IN K-1S (490,731) ----------------------------------------------------- TOTAL - OTHER CHANGES IN FUND BALANCE $ 750,817 Millco PO Box 150433 Jackson MS 39210 640511687 SEE PART VII MS 0 0 Millsaps Millsaps Property Holdings LLC 1701 N State Street Jackson MS 39210 SEE PART VII MS 0 0 MILLSAPS Millsaps Development Inc PO Box 150433 Jackson MS 39210 237210558 SEE PART VII MS 501(c)(2) MILLSAPS true Millsaps Real Estate Holdings Inc PO Box 150433 Jackson MS 39210 640833283 SEE PART VII MS 501(c)(2) MILLSAPS true KAXIL KIUIC AC CALLE 10 NO 66 POR 7 Y 9 9713 MERIDA YUCATAN MX SEE PART VII MX MILLSAPS true Micas-Kiuic Venture AC Calle 10 No 66 POR 7 Y 9 9713 Merida Yucatan MX SEE PART VII MX MILLSAPS true false false false false false false false false false false false false false false false false false true false SCHEDULE R, PART I, (1) (B): Millco is a 100% owned subsidiary of Millsaps College. It is currently inactive and had no transactions for the period of this return. SCHEDULE R, PART 1, (2) (B) MILLSAPS PROPERTY HOLDINGS, LLC IS A SINGLE-MEMBER LLC WITH MILLSAPS COLLEGE AS THE SOLE MEMBER. ITS PURPOSE IS TO PERFORM REAL ESTATE ACTIVITIES RELATED TO PROPERTY BEQUEATHED TO MILLSAPS COLLEGE. IT IS CURRENTLY INACTIVE AND HAD NO TRANSACTIONS FOR THE PERIOD OF THIS RETURN. Schedule R, Part II, Line (1)(B): Millsaps Development, Inc. - to develop certain of the College's real property as a source of revenue to the college. Schedule R, Part II, Line (2)(B): Millsaps Real Estate Holdings, Inc. is a 100% owned subsidiary of Millsaps College. It is currently inactive and had no transactions for the period of this return. Schedule R, Part II, Line (3)(B): Kaxil Kiuic, A.C. manages the Helen Moyers Biocultural Reserve located in the Bolonchen District of the PUUC Region of Yucatan, Mexico. The reserve is a living laboratory where research and education are carried out in an effort to not only acquire knowledge but help sustain the reserve's ecological and cultural resources. It is also a place designed to provide support to the neighboring Maya towns as they confront the challenges of sustaining their own culture and identity. Schedule R, Part II, Line (4)(B): Micas-Kiuic Venture, A.C. owns the 4,000-acre reserve in Mexico's Yucatan Peninsula where the Kaxil Kiuic Biocultural Reserve program is conducted. The reserve contains a wealth of archaeological sites important to the understanding of ancient and modern Maya culture. The Yucatan Program offers faculty and students a living laboratory where they study the relationships among disciplines as varied as biology, English, business, the environment, and archaeology. The Reserve - which demonstrates connections between economic development, environmental policy, and cultural preservation - has become a national model for interdisciplinary studies.