Eastman Memorial Foundation
- Assets
- $45.9m
- Revenue
- $2.8m
- Investments
- $12.4m
- Employees
- 0
- Location
- Laurel, MS
- Founding
- 02/1947
- Data as of
- 05/2024
- EIN
- 64-0308406
Organization Overview
Eastman Memorial Foundation is located in Laurel, MS. The organization was established in 1947. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eastman Memorial 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 05/2024, Eastman Memorial Foundation generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $1.7m during the year ending 05/2024. While expenses have increased by 4.9% per year over the past 4 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
OPERATION OF MUSEUM
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $863,217 |
| Interest on Savings | $0 |
| Dividends & Interest | $277,137 |
| Net Rental Income | $32,814 |
| Net Gain on Sale of Assets | $786,776 |
| Capital Gain Net Income | $786,776 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $815,294 |
| Total Revenue | $2,775,238 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $110,045 |
| Other employee salaries and wages | $356,411 |
| Pension plans, employee benefits | $53,796 |
| Interest | $0 |
| Taxes | $35,188 |
| Depreciation | $206,204 |
| Occupancy | $139,092 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $15,580 |
| Other expenses | $806,695 |
| Total operating and administrative expenses | $1,746,161 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,746,161 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $193,567 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $400,000 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $43,699 |
| Prepaid expenses and deferred charges | $90,597 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,279 |
| Net Land, buildings, and equipment | $3,759,545 |
| Other assets | $29,047,461 |
| Total assets | $45,935,038 |
| Accounts payable and accrued expenses | $20,281 |
| Grants payable | $0 |
| Deferred revenue | $39,600 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $59,881 |