2023-05-10T09:29:10-05:00 2022-06-30 FORVIS LLP PO BOX 3667 LITTLE ROCK AR 722033667 990 2021-07-01 640303084 Millsaps College % WHITNEY EMRICH MILL 6019741105 PO Box 150433 Jackson MS 39210 WHITNEY EMRICH VP FOR FINANCE/ADMIN 6019741100 2023-05-15 true WHITNEY EMRICH 000000000 Amber Sherrill CPA P00748683 5013721040 3 2021 2023-04-26 12:10:37Z Robert Pearigen PO Box 150433 Jackson MS 39210 75961590 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 40 600 47 89066 0 18469669 11617109 33771982 36950157 6442295 8728551 1803944 2102346 60487890 59398163 18488766 20292942 0 0 16667517 16916016 0 0 1620885 13787830 16922690 48944113 54131648 11543777 5266515 206414580 191983134 37941327 34584314 168473253 157398820 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 45950735 20219742 33205199 Educational facilities and personnel providing an ideal atmosphere for learning for approximately 739 students. This is achieved with one teacher for every 9 students and an average class size of 12. 649693 5752264 Auxiliary enterprises including the housing of 85% of the approximately 739 students enrolled. 46600428 true true false false false false false false false true true true false true true false false true true true true true true false false true false false true true true false false false false false false false false false false true true false false true true true true false false true 184 0 true 600 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 279701 0 34493 Harvey Fiser Interim Dean Else School Mgmt 40.0 0.0 X 184554 0 27452 Dr Keith Dunn Provost & Dean of the College 40.0 0.0 X 166149 0 33957 Annie Mitchell VP of Marketing and Communicat 40.0 0.0 X 168476 0 30755 Whitney Emrich VP of FInance 40.0 0.0 X 159853 0 33395 Guy M McClain Assoc. Professor of Accounting 40.0 0.0 X 157511 0 31913 Beth Clarke VP of Enrollment 40.0 0.0 X 163412 0 24870 Damon Campbell Associate Professor of MIS 40.0 0.0 X 157246 0 19414 Jesse Beeler Professor of Accounting 40.0 0.0 X 157358 0 9213 Blakely Fender Professor of Else School 40.0 0.0 X 134188 0 27896 Hope Carter VP for Inst. Advancement 40.0 0.0 X 96359 0 19259 Megan James Dean of Students 40.0 0.0 X 51505 0 17260 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 Rev Steven P Keen Trustee 1.0 0.0 X 0 0 0 Rev Vicki Landrum 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 Bishop James E Swanson Sr 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 Stevens 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 Martin Smith VP for Inst. Advancement 40.0 0.0 X 0 0 0 1876312 0 309877 26 false true false ARAMARK CORPORATION PO BOX 978839 DALLAS TX 753978839 FOOD SERVICES 1798086 SEJ SERVICES LLC 222 W COLEMAN BLVD MOUNT PLEASANT SC 29464 CLEANING & MAINT 700258 ANDERCORP LLC 1404 24TH AVE STE 300 GULFPORT MS 39501 CONSTRUCTION 637552 ROOFING SOLUTIONS LLC 37302 COMMERCE LANE PRAIRIEVILLE LA 70769 CONSTRUCTION 371659 ELLUCIAN INC 62578 COLLECTIONS CENTER DR CHICAGO IL 60693 SOFTWARE MAINTENANCE 331815 13 2453171 9163938 589505 11617109 Tuition & Fees 611600 30664083 30664083 Sales & Services Auxiliary Enterprises 611710 5752264 5752264 Income from Funds Held in Trust by Others 611600 533810 533810 36950157 764951 72349 692602 0 16717 16717 14367 14367 0 14367 14367 19043487 3441100 14520987 4522500 3441100 7963600 7963600 11490 813 10677 10677 24469 14640 9829 9829 4034293 2026987 2007306 2007306 SPECIALTY TAGS 900099 11093 11093 FORFEITED DEPOSITS 900099 10750 10750 ATHLETICS 611600 2513 2513 19094 19094 43450 59398163 38957463 89066 8734525 0 19384827 19384827 908115 908115 0 1381870 130810 1014672 236388 0 13143011 10829323 1641408 672280 445798 365057 62450 18291 1009696 826603 127938 55155 935641 705344 170038 60259 0 119773 19988 99785 90400 90400 0 0 0 862145 516114 345810 221 396418 261330 95901 39187 3281057 2948401 317132 15524 835840 653717 128335 53788 0 2399522 1801299 536949 61274 1129848 1002183 86238 41427 0 78346 62394 9341 6611 1321038 1241776 39631 39631 0 3322710 3123348 99681 99681 282620 65222 216481 917 CONTRACT EXPENSE 1178312 1059013 81583 37716 Repairs & Maintenance 600316 579264 21052 BAD DEBT EXPENSE 252777 252777 DUES & SUBSCRIPTIONS 214223 119376 54444 40403 557345 323411 112854 121080 54131648 46600428 5910335 1620885 4152731 7231447 18809326 14246286 3975058 3500293 385150 450186 0 0 0 0 994489 670987 0 0 2547 63620 120320220 76259468 45343619 44060752 77812356 66927662 27923592 30820804 0 0 0 0 27015712 24011097 206414580 191983134 3645242 3236831 0 0 826166 664617 20220696 28844519 0 0 0 0 9261778 0 1243976 631221 2743469 1207126 37941327 34584314 X 52563858 53285176 115909395 104113644 168473253 157398820 206414580 191983134 X 5266515 -16955408 20000 594460 X false true X true true true X 6399571 11322513 7110086 18469669 11617109 54918948 0 0 6399571 11322513 7110086 18469669 11617109 54918948 6631192 48287756 884765 2464729 3223637 2187699 706969 9467799 107629 617403 38721 110326 874079 5713530 84483 65979 53731 43450 5961173 71221999 209294876 0.67799 0.71249 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 109639060 3516452 -7714664 2622168 4322752 98495928 88029490 4326072 23660996 2011256 4366242 109639060 90331873 1238649 4456605 2057986 5939651 88029490 93923505 1276562 4814941 3412045 6271090 90331873 93077171 1249188 6538386 2841143 4100097 93923505 0.25880 0.72390 0.01730 true false 411185 411185 105587441 65603193 39984248 9575569 8973887 601682 4746025 1682388 3063637 44060752 Stock 30820804 F 30820804 Funds Held in Trust 14255933 Investment in Millsaps Dev Inc 6800000 Cash Surrender Value Life Ins 2949791 Other Assets 5373 24011097 0 Liability for Financial Instrument 0 Advance Under Government Loans 743781 Liability for Asset Retirement 301942 Due to Aramark 161403 1207126 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 18089289 East Asia and the Pacific 0 0 Program Services STUDY ABROAD PROGRAM 11018 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD PROGRAM 24226 North America 0 0 Program Services STUDY ABROAD PROGRAM 20764 North America 0 0 Program Services ACADEMIC FACILITIES 14367 North America 0 0 Program Services RESEARCH 56774 North America 0 0 Program Services GRANTS 908115 0 0 0 0 19124553 19124553 North America RESEARCH 73200 WIRE Scholarships 29 834915 WIRE true false true false 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 06/30/2022 WAS $18,089,289. PART IV, LINE 1: MILLSAPS INDIRECTLY TRANSFERRED PROPERTY TO FOREIGN CORPORATIONS THROUGH ITS INVESTMENT IN DOMESTIC PARTNERSHIPS. MILLSAPS IS REQUIRED TO FILE THREE FORMS 926 TO REPORT TRANSFERS ABOVE THE REPORTING THRESHOLD PASSED THROUGH ITS INVESTMENT IN FEG SELECT, LLC. THE COLLEGE ALSO MADE TWO DIRECT TRANSFERS TO THE FOREIGN CORPORATIONS MAGNITUDE INTERNATIONAL AND BLACKROCK APPRECIATION FUND IV, LTD. THAT WILL REQUIRE FILING OF AN ADDITIONAL TWO FORMS 926. PART IV, LINE 3: MILLSAPS DID NOT MEET REQUIREMENTS TO FILE FORM 5471 DURING THE FISCAL YEAR ENDED 6/30/2022 FOR ITS OWNERSHIP INTEREST IN A FOREIGN CORPORATION. THEREFORE, FORM 5471 WAS NOT FILED BY MILLSAPS. 24469 14640 true 1.00000 24469 14640 14640 9829 MS false NOT REQUIRED FOR RAFFLES false true false 1.00000 WHITNEY EMRICH 1701 N STATE STREET JACKSON MS 39210 false WHITNEY EMRICH 0 RECORDKEEPING X false PART II, OTHER EVENTS: THE COLLEGE CONDUCTS A FUNDRAISER WHERE RAFFLE TICKETS ARE SOLD FOR THE CHANCE TO WIN TICKETS TO THE SUGAR BOWL. THE REVENUE AND EXPENSE ASSOCIATED WITH THIS RAFFLE ARE REPORTED IN PART III OF THIS SCHEDULE (GAMING). THE TOTAL REVENUE FROM THIS FUNDRAISER WAS $24,202 AND EXPENSE WAS $14,640 FOR A NET RECEIVED OF $9,562. THERE WAS AN ADDITIONAL RAFFLE CONDUCTED BY THE COLLEGE CHEERLEADING ORGANIZATION THAT RAISED A NET OF $267. true Scholarships 713 19384827 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 Damon Campbell Associate Professor of MIS 129021 0 28143 0 82 0 5054 0 14360 0 176660 0 0 0 Jesse Beeler Professor of Accounting 132577 0 23817 0 964 0 6843 0 2370 0 166571 0 0 0 Dr Robert Pearigen President 275608 0 1566 0 2527 0 14535 0 19958 0 314194 0 0 0 Beth Clarke VP of Enrollment 154341 0 8864 0 207 0 0 0 24870 0 188282 0 0 0 Whitney Emrich VP of FInance 159108 0 600 0 145 0 8721 0 24674 0 193248 0 0 0 Annie Mitchell VP of Marketing and Communicat 159146 0 9114 0 216 0 0 0 30755 0 199231 0 0 0 Guy M McClain Assoc. Professor of Accounting 124674 0 32675 0 162 0 7043 0 24870 0 189424 0 0 0 Blakely Fender Professor of Else School 101686 0 32367 0 135 0 4999 0 22897 0 162084 0 0 0 Dr Keith Dunn Provost & Dean of the College 164883 0 600 0 666 0 9087 0 24870 0 200106 0 0 0 Harvey Fiser Interim Dean Else School Mgmt 147196 0 37104 0 254 0 7537 0 19915 0 212006 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 0 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 200 FMV X 52 584805 FMV X PIANO 1 4500 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: OTHER CHANGES IN FUND BALANCE: DECREASE IN CASH SURRENDER VALUE (80,978) CHANGE IN VALUE IN SPLIT INTERESTS (312,598) CHANGE IN INTEREST RATE SWAP 733,411 CHANGE IN BENEFICIAL TRUST (1,808,707) BOOK/TAX DIFFERENCE IN K-1S 2,063,332 ------------------------------------------------------ TOTAL - OTHER CHANGES IN FUND BALANCE $ 594,460 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.