Robert M Hearin Support Foundation
- Assets
- $202.7m
- Revenue
- $23.6m
- Investments
- $144.7m
- Employees
- 1
- Location
- Jackson, MS
- Founding
- 12/1995
- Data as of
- 11/2022
- EIN
- 58-2203211
Organization Overview
Robert M Hearin Support Foundation is located in Jackson, MS. The organization was established in 1995. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Robert M Hearin Support 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 11/2022, Robert M Hearin Support Foundation generated $23.6m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $14.3m during the year ending 11/2022. While expenses have increased by 2.0% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Robert M Hearin Support Foundation has awarded 54 individual grants totaling $37,389,938. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT THROUGH GRANTS TO SPECIFIED EDUCATIONAL INSTITUTIONS AND PUBLIC CHARITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO UNIV OF MS FOR TEACHING, ENGINEERING, BUSINESS/ENTREPRENEURSHIP, SCIENCE/ADVANCED MANUFACTURING, & OTHER PURPOSES.
TO MAKE GRANTS TO SPECIFIED EDUCATIONAL INSTITUTIONS AND PUBLIC CHARITIES.
GRANTS TO MS STATE UNIV FOR TEACHING, ENGINEERING, ARCHITECTURE, & OTHER PURPOSES.
GRANT TO MS MUSEUM OF ART FOR ART EXHIBITION AND EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Steve Hendrix Trustee | Trustee | 3 | $30,000 |
Mr Matthew L Holleman Trustee | Trustee | 12 | $30,000 |
Mr Ee Laird Jr Trustee | Trustee | 3 | $30,000 |
Mr Alan W Perry Trustee | Trustee | 3 | $30,000 |
Mr Robert M Hearin Jr Trustee | Trustee | 3 | $0 |
Ms Laurie Hearin Mcree Trustee | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $9,271,407 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,290,759 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,562,269 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,072,834 |
| 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. | $141,833 |
| Compensation of current officers, directors, key employees. | $70,916 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,670 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $746 |
| Fees for services: Accounting | $42,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $771,225 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $32,644 |
| All other expenses | $21 |
| Total functional expenses | $14,263,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,145 |
| Savings and temporary cash investments | $2,389,926 |
| Pledges and grants receivable | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $55,465,437 |
| Investments—other securities | $144,667,419 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $202,680,927 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $202,680,927 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $202,680,927 |
Grants Awarded
Over the last fiscal year, Robert M Hearin Support Foundation has awarded $13,072,834 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ALCORN STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $60,000 |
BELHAVEN UNIV PURPOSE: EDUCATION | $40,000 |
BLUE MOUNTAIN COLLEGE PURPOSE: SCHOLARSHIPS | $40,000 |
JACKSON STATE UNIV PURPOSE: EDU & SCHOLARSHIPS | $120,000 |
MS COLLEGE PURPOSE: EDUCATION | $60,000 |
MS STATE UNIV PURPOSE: EDUCATION | $3,710,920 |