Mississippi United Methodist Foundation Inc
- Assets
- $147.7m
- Revenue
- -$800.0k
- Investments
- $144.0m
- Employees
- 6
- Location
- Ridgeland, MS
- Founding
- 07/1973
- Data as of
- 12/2021
- EIN
- 64-0507167
Organization Overview
Mississippi United Methodist Foundation Inc is located in Ridgeland, MS. The organization was established in 1973. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Mississippi United Methodist Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi United Methodist Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2014, Mississippi United Methodist Foundation Inc has awarded 81 individual grants totaling $1,164,041. 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
THE METHODIST FOUNDATION OF MS RESOURCES THE CHURCH FOR EFFECTIVE MINISTRY & FRUITFUL GENEROSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE METHODIST FOUNDATION OF MISSISSIPPI AWARDED 139 SCHOLARSHIP AWARDS TOTALING $150,200. OF THESE AWARDS $119,600 WERE AWARDED TO UNDERGRADUATE STUDENTS AND $30,600 WERE AWARDED TO SEMINARY STUDENTS. AN ADDITIONAL $2,500 WAS AWARDED THROUGH THE GLOBAL BOARD OF HIGHER EDUCATION.
THE METHODIST FOUNDATION OF MISSISSIPPI DISTRIBUTED FUNDS TO VARIOUS CHURCHES AND NONPROFITS TO FURTHER THEIR EXEMPT PURPOSE. DURING THE YEAR, ENDOWMENTS WERE DISTRIBUTED TOTALING MORE THAN $150,000 TO VARIOUS CHURCHES AND NONPROFITS TO FURTHER THEIR PURPOSES. THE FOUNDATION ADDED ADDITIONAL FUNDS TO INDIVIDUAL CHURCHES AND CLERGY IN FURTHERANCE OF THEIR EXEMPT PURPOSE AND MISSIONS. THE FOUNDATION ALSO PROVIDED SUPPORT TO THE DENOMINATIONAL CONFERENCE IN FURTHERANCE OF OUR EXEMPT PURPOSE.
THE METHODIST FOUNDATION OF MISSISSIPPI PROVIDED INVESTMENT MANAGEMENT SERVICES FOR CHURCHES AND METHODIST AFFILIATES. THIS INCLUDED INVESTMENT DECISIONS, PURCHASES, AND SALES, AS WELL AS THE COLLECTION OF INVESTMENT INCOME AND ALLOCATION OF RETURNS. THE FOUNDATION PROVIDED GUIDANCE, LEADERSHIP, AND WORKSHOPS FOR CHURCH LEADERS AND COMMITTEES INCLUDING GENEROSITY, CHURCH, AND INDIVIDUAL FINANCIAL MANAGEMENT, AND PLANNED GIVING. THE STAFF MET WITH NEARLY FIFTY GROUPS PROVIDING GUIDANCE, LEADERSHIP, AND WORKSHOPS FOR CHURCH LEADERS AND COMMITTEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Lee Reed Associate Director / CFO | Officer | 40 | $95,158 |
Billie Spraberry Treasurer | OfficerTrustee | 40 | $85,808 |
Rev Richard M Hicks Executive Director Thru 6/30/21 | Officer | 45 | $67,040 |
John Branning Executive Director | Officer | 40 | $33,242 |
Jesse L Ross Jr President | OfficerTrustee | 1 | $0 |
Rev Joe Landrum Vice-President | OfficerTrustee | 1 | $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 | $214,926 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $214,926 |
| Total Program Service Revenue | $165,074 |
| Investment income | $906,030 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,088,527 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$799,975 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $528,186 |
| Grants and other assistance to domestic individuals. | $7,939 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $281,248 |
| Compensation of current officers, directors, key employees. | $165,346 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,266 |
| Pension plan accruals and contributions | $12,285 |
| Other employee benefits | $84,107 |
| Payroll taxes | $18,567 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,219 |
| Fees for services: Accounting | $45,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $210,089 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,836 |
| Office expenses | $55,919 |
| Information technology | $21,062 |
| Royalties | $0 |
| Occupancy | $42,826 |
| Travel | $8,482 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,762 |
| Interest | $1,050,884 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $53,270 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,544,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,966,516 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,118 |
| 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 | $1,692,632 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $144,026,508 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $147,699,774 |
| Accounts payable and accrued expenses | $6,607 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $88,867,814 |
| 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 | $88,874,421 |
| Net assets without donor restrictions | $35,962,462 |
| Net assets with donor restrictions | $22,862,891 |
| 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 | $147,699,774 |
Grants Awarded
Over the last fiscal year, Mississippi United Methodist Foundation Inc has awarded $298,886 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
METHODIST CHILDREN'S HOMES PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $84,586 |
Hattiesburg, MS PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $24,300 |
Mississippi State, MS PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $19,750 |
BIG CREEK UMC CEMETERY PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $18,776 |
Jackson, MS PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $18,727 |
Hattiesburg, MS PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mississippi United Methodist Foundation Inc has recieved totaling $51,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $51,000 |
Endowment Analysis
| Beg. Balance | $21,292,428 |
| Earnings | $1,891,662 |
| Net Contributions | $214,926 |
| Grants | $536,125 |
| Ending Balance | $22,862,891 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wiseheart Foundation Memphis, TN | $10,743,867 | $6,206,349 |
Global Ministries Foundation Cordova, TN | $20,808,133 | $5,793,917 |
Mississippi United Methodist Foundation Inc Ridgeland, MS | $147,699,774 | -$799,975 |
National Christian Charitable Foundation Inc Knoxville, TN | $13,653,760 | $2,866,277 |
Church Loan Fund Inc Cleveland, TN | $45,949,413 | $2,026,360 |
Back To Jerusalem Inc Laurel, MS | $888,036 | $1,572,378 |
Blood Water Mission Inc Nashville, TN | $1,496,326 | $2,219,618 |
Noah Arc Community Development Corporation Inc Minden, LA | $7,905,393 | $1,130,663 |
Alliance Ministries Birmingham, AL | $249,825 | $771,024 |
Hope For The World Foundation Inc Spring Hill, TN | $130,711 | $613,253 |
Stegall Seminary Scholarshipendowment Foundation Montgomery, AL | $7,939,280 | $688,672 |
South American Foreign Missions Inc Jonesville, LA | $530,076 | $465,072 |