Wmc Public Benefit Corporation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
WMC PUBLIC BENEFIT CORPORATION'S MISSION IS TO PROMOTE AND ASSIST WINSTON COUNTY MEDICAL FOUNDATION (A NOT-FOR-PROFIT CORPORATION OPERATING AN ACUTE CARE HOSPITAL AND A LONG-TERM CARE NURISNG HOME LOCATED IN LOUISVILLE, MS)WITH THE DEVELOPMENT OF HOSPITAL FACILITIES AND THE SECURING OF CAPITAL FOR THE OPERATION OF HEALTH CARE RELATED SERVICES TO BENEFIT THE HEALTH AND WELLNESS OF THE CITIZENS OF WINSTON COUNTY, MS AND SURROUNDING AREAS.
- Income
- $2.9 million
- Spending
- $2.3 million
- Spent on programs
- 100%
- Reserves
- -27.7 months of spending
- Largest source of income
- fees for its services, 100%
- Employees
- 0
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 51 out of 100. Higher than 24% of charities in its peer group (health care, $1m to $10m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
16 of 20It owes 23% of what it owns.
Living within its means
15 of 15Income exceeded spending by 21% of income.
Income trend
5 of 15Income fell 14% on the year before.
Spending floor
15 of 15100% of spending went to programs.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Fair: 58 out of 100. Higher than 10% of charities in its peer group (health care, $1m to $10m).
Independent board
25 of 255 of 5 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
0 of 10Did not give the board a copy of this return before filing it.
Independent check of accounts
0 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $2.3 million spent. WMC PUBLIC BENEFIT CORPORATION "LESSOR" ENTERED INTO A LEASE AGREEMENT WIT WINSTON COUNTY MEDICAL FOUNDATION "LESSEE" ON DECEMBER 14, 2015 "THE COMMENCEMENT DATE". THE INTENT OF THE LESSOR AND LESSEE IS THAT THE LESSO SHALL PROVIDE AND LEASE TO THE LESSEE THE LAND AND HOSPITAL FACILITY WHICH CONSIST OF VARIOUS BUILDINGS AND A PARKING AREA. THE TERM OF THIS AGREEMENT BEGAN ON THE COMMENCEMENT DATE AND SHALL CONTINUE FOR A PERIOD OF THIRTY YEARS. WMC PUBLIC BENEFIT CORPORATION "LESSOR" ENTERED INTO A SEPARATE LEASE AGREEMENT WITH WINSTON COUNTY MEDICAL FOUNDATION "LESSEE" O DECEMBER 14, 2015 "THE COMMENCEMENT DATE". THE INTENT OF THE LESSOR AND LESSEE IS THAT THE LESSOR SHALL PROVIDE AND LEASE TO THE LESSEE VARIOUS EQUIPMENT. THE TERM OF THIS AGREEMENT BEGAN ON THE COMMENCEMENT DATE AND SHALL CONTINUE FOR A PERIOD OF SEVEN YEARS. WMC PUBLIC BENEFIT CORPORATION "LESSOR" ENTERED INTO A LEASE AGREEMENT WIT WINSTON COUNTY MEDICAL FOUNDATION "LESSEE" ON DECEMBER 14, 2015 "THE COMMENCEMENT DATE". THE INTENT OF THE LESSOR AND LESSEE IS THAT THE LESSO SHALL PROVIDE AND LEASE TO THE LESSEE THE LAND AND HOSPITAL FACILITY WHICH CONSIST OF VARIOUS BUILDINGS AND A PARKING AREA. THE TERM OF THIS AGREEMENT BEGAN ON THE COMMENCEMENT DATE AND SHALL CONTINUE FOR A PERIOD OF THIRTY YEARS. WMC PUBLIC BENEFIT CORPORATION "LESSOR" ENTERED INTO A SEPARATE LEASE AGREEMENT WITH WINSTON COUNTY MEDICAL FOUNDATION "LESSEE" O DECEMBER 14, 2015 "THE COMMENCEMENT DATE". THE INTENT OF THE LESSOR AND LESSEE IS THAT THE LESSOR SHALL PROVIDE AND LEASE TO THE LESSEE VARIOUS EQUIPMENT. THE TERM OF THIS AGREEMENT BEGAN ON THE COMMENCEMENT DATE AND SHALL CONTINUE FOR A PERIOD OF SEVEN YEARS.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since March 2016.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
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