Mississippi Sports Foundation Inc
- Assets
- $1.2m
- Revenue
- $520.6k
- Investments
- $0.0
- Employees
- 11
- Location
- Jackson, MS
- Founding
- 12/1993
- Data as of
- 09/2023
- EIN
- 64-0824344
Organization Overview
Mississippi Sports Foundation Inc is located in Jackson, MS. The organization was established in 1993. As of 09/2023, Mississippi Sports Foundation Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Sports 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.
For the year ending 09/2023, Mississippi Sports Foundation Inc generated $520.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $677.0k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATE A SPORTS HALL OF FAME MUSEUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR APPROXIMATELY 13,000 PEOPLE TOURED THE MUSEUM INDIVIDUALLY, IN TOURS AND SCHOOL GROUPS OR THROUGH RENTAL OF THE CONFERENCE CENTER AND MEZZANINE ATTENDING SEMINARS, RECEPTIONS OR PARTIES. THE MUSEUM PROVIDES AN INSIGHT INTO THE INDIVIDUALS COMPRISING MISSISSIPPI'S SPORTS LEGENDS OF ALL RACES, SEXES AND AGES. THE FOUNDATION RECOGNIZES OUTSTANDING COLLEGE ATHLETES IN THE STATE OF MISSISSIPPI IN FOOTBALL, MEN'S AND WOMEN'S BASKETBALL AND BASEBALL. THE FOUNDATION ALSO INDUCTS OUTSTANDING MISSISSIPPI SPORTS FIGURES INTO THE HALL OF FAME EACH YEAR. DURING FISCAL YEAR 2021,THE FOUNDATION HAS BEEN ENGAGED IN DIGITIZING ITS VIDEO LIBRARY OF MISSISSIPPI SPORTS ACTION.
DURING THE YEAR APPROXIMATELY 30,000 PEOPLE TOURED THE MUSEUM EITHER INDIVIDUALLY, IN GROUPS AND PARTIES, OR THROUGH RENTAL OF THE CONFERENCE CENTER AND CONCOURSE AREAS. EXHIBIT SPONSORS HAVE BEEN SECURED TO ASSIST WITH OVERHEAD COSTS FOR THE UPCOMING YEARS. THE MUSEUM PROVIDES AN INSIGHT INTO THE INDIVIDUALS COMPRISING MISSISSIPPI'S SPORTS LEGENDS OF ALL RACES, SEXES, AND AGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Correro Past-President | Trustee | 2 | $0 |
Karl Bierdeman Director | Trustee | 0 | $0 |
Ben James Director Emeritus | Trustee | 1 | $0 |
Michael Boerner Director | Trustee | 0 | $0 |
Nick Crutcher Director | Trustee | 0 | $0 |
Sidney Allen Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,650 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,275 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $98,925 |
| Total Program Service Revenue | $81,279 |
| Investment income | $18,122 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $142,757 |
| Net Income from Fundraising Events | $175,426 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,128 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $520,637 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $273,104 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,475 |
| Payroll taxes | $22,388 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,042 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $33,724 |
| Office expenses | $6,860 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,384 |
| Travel | $7,732 |
| 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 | $49,544 |
| Insurance | $22,380 |
| All other expenses | $22,767 |
| Total functional expenses | $676,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $225,533 |
| Pledges and grants receivable | $206,000 |
| 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 | $3,243 |
| Prepaid expenses and deferred charges | $10,537 |
| Net Land, buildings, and equipment | $82,869 |
| Investments—publicly traded securities | $623,307 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $75,072 |
| Total assets | $1,226,561 |
| Accounts payable and accrued expenses | $48,631 |
| 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 | $1,773 |
| Total liabilities | $50,404 |
| Net assets without donor restrictions | $1,086,422 |
| Net assets with donor restrictions | $89,735 |
| 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 | $1,226,561 |