The Larry Payne Foundation
- Assets
- $4.0m
- Revenue
- $308.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Hattiesburg, MS
- Founding
- 07/1990
- Data as of
- 12/2023
- EIN
- 64-0782340
Organization Overview
The Larry Payne Foundation is located in Hattiesburg, MS. The organization was established in 1990. 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. Larry Payne 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 12/2023, Larry Payne Foundation generated $308.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (8.4%) each year. All expenses for the organization totaled $215.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Larry Payne Foundation has awarded 33 individual grants totaling $303,149. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE CONTRIBUTIONS FOR THE BENEFIT OF ANY 501(3)(C) SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL CONTRIBUTIONS ARE MADE FOR THE BENEFIT OF THE UNIVERSITY OF SOUTHERN MS, UNIVERSITY OF MS, UNIVERSITY MEDICAL SCHOOL, UNIVERSITY OF ALABAMA, AND VARIOUS OTHER STATE SUPPORTED INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Payne Director | Trustee | 10 | $0 |
Robert Jackson Sr Atty Director | Trustee | 0 | $0 |
James L Payne Jr Director | Trustee | 10 | $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 | $108,192 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $200,493 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $308,685 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $179,645 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $8,800 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,674 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,355 |
| 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 | $9,425 |
| Insurance | $0 |
| All other expenses | $2,531 |
| Total functional expenses | $215,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $14,137 |
| Investments—publicly traded securities | $3,975,950 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,990,087 |
| 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 | $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 |
| Retained earnings, endowment, accumulated income, or other funds | $3,990,087 |
| Total liabilities and net assets/fund balances | $3,990,087 |
Grants Awarded
Over the last fiscal year, The Larry Payne Foundation has awarded $0 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
THE USM FOUNDATION PURPOSE: 35,096 | $0 |
UNIVERSITY OF ALABAMA PURPOSE: 12,693 | $0 |
UNIVERSITY OF MISSISSIPPI PURPOSE: 41,782 | $0 |
UNIV OF MS MEDICAL PURPOSE: 35,763 | $0 |
UNI OC CALIFORNIA-IRVINE PURPOSE: 11,155 | $0 |
LAMAR SCHOOL PURPOSE: 367 | $0 |