University Of Mississippi Foundation
- Assets
- $716.5m
- Revenue
- $64.7m
- Investments
- $484.1m
- Employees
- 20
- Location
- Oxford, MS
- Founding
- 11/1976
- Data as of
- 06/2021
- EIN
- 23-7310293
Organization Overview
University Of Mississippi Foundation is located in Oxford, MS. The organization was established in 1976. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, University Of Mississippi Foundation employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Mississippi Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, University Of Mississippi Foundation generated $64.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $76.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, University Of Mississippi Foundation has awarded 16 individual grants totaling $303,317,252. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY PROGRAMS - TRANSFERS TO THE UNIVERSITY TO BE USED TO PROVIDE NON-ACADEMIC PROGRAMS AND ACTIVITIES, SUCH AS HONORS PROGRAMS, LIBRARIES, AND SPECIAL EVENTS.
SCHOLARSHIPS - TRANSFERS TO THE UNIVERSITY FOR DIRECT STUDENT FINANCIAL SUPPORT.
UMMC - TRANSFERS TO THE MEDICAL CENTER TO PROVIDE SUPPORT FOR CONSTRUCTION ACTIVITIES AND NON-ACADEMIC PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wendell W Weakley President/ceo | OfficerTrustee | 40 | $279,671 |
Maggie E Abernathy Treasurer/cfo | Officer | 40 | $161,000 |
Anna Langley Vice President/secretary | Officer | 40 | $130,500 |
Lance Felker Director Of It | 40 | $121,500 | |
Charles Cannada Director | Trustee | 0.01 | $0 |
S Lawrence Farrington Director | Trustee | 0.01 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Weta Consulting | 6/29/22 | $241,807 |
Shelton School Consulting | 6/29/22 | $724,273 |
Fund Evaluation Group Investment Consulting | 6/29/22 | $233,852 |
Mainstage Theatrical Supply Inc Construction | 6/29/22 | $167,441 |
Children's Miracle Network Professional Fundraising | 6/29/22 | $160,267 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,491,037 |
| Investment income | $5,483,107 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,974 |
| Net Rental Income | $134,879 |
| Net Gain/Loss on Asset Sales | $13,248,227 |
| Net Income from Fundraising Events | -$25,660 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $64,727,887 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $821,491 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,244,828 |
| Pension plan accruals and contributions | $276,410 |
| Other employee benefits | $173,430 |
| Payroll taxes | $115,442 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,406 |
| Fees for services: Accounting | $185,424 |
| Fees for services: Lobbying | $67,865 |
| Fees for services: Fundraising | $103,185 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $502,860 |
| Advertising and promotion | $62,643 |
| Office expenses | $324,811 |
| Information technology | $58,241 |
| Royalties | $0 |
| Occupancy | $65,154 |
| Travel | $180,530 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,402 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $163,714 |
| Insurance | $71,268 |
| All other expenses | $0 |
| Total functional expenses | $76,007,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,411,775 |
| Pledges and grants receivable | $73,619,230 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $132,358,585 |
| Investments—other securities | $484,071,602 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,093,287 |
| Total assets | $716,526,476 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,121,483 |
| Total liabilities | $36,121,483 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $680,404,993 |
Grants Awarded
Over the last fiscal year, University Of Mississippi Foundation has awarded $38,142,578 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
University, MS PURPOSE: SEE PART IV | $30,273,175 |
UNIVERSITY OF MISS MEDICAL CENTER PURPOSE: SEE PART IV | $7,869,403 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that University Of Mississippi Foundation has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Louis Lou Ann And Melissa Poynter Family Foundation Wilmington, DE PURPOSE: SCHOOL OF LAW - CLINICAL PROGRAMS FUND | $2,000 |
Endowment Analysis
| Beg. Balance | $483,635,989 |
| Earnings | -$39,631,272 |
| Net Contributions | $14,214,249 |
| Other Expense | $15,270,652 |
| Ending Balance | $442,948,314 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
University Of Arkansas Foundation Inc Fayetteville, AR | $2,089,992,333 | $297,590,096 |
University Of Mississippi Foundation Oxford, MS | $716,526,476 | $64,727,887 |
Auburn University Foundation Auburn, AL | $857,894,187 | $96,896,842 |
Tiger Athletic Foundation Baton Rouge, LA | $492,455,521 | $67,955,012 |
L S U Foundation Baton Rouge, LA | $804,249,383 | $72,730,367 |
Ole Miss Athletics Foundation Oxford, MS | $97,065,287 | $57,643,164 |
University Of South Alabama Foundation Mobile, AL | $392,021,424 | $13,140,864 |
University Of Memphis Foundation Memphis, TN | $175,396,802 | $38,710,840 |
Southeastern Louisiana Area Health Education Center Natalbany, LA | $8,364,528 | $32,019,241 |
University Of Arkansas Fayetteville Campus Foundation Inc Fayetteville, AR | $748,157,500 | $15,686,060 |
Razorback Foundation Inc Fayetteville, AR | $72,537,377 | $26,130,749 |