University Of Southern Mississippi Foundation
- Assets
- $151.5m
- Revenue
- $19.1m
- Investments
- $34.3m
- Employees
- 0
- Location
- Hattiesburg, MS
- Founding
- 06/2001
- Data as of
- 06/2022
- EIN
- 64-6022505
Organization Overview
University Of Southern Mississippi Foundation is located in Hattiesburg, MS. The organization was established in 2001. 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 the central organization for a national or regional group of organizations. University Of Southern Mississippi 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 06/2022, University Of Southern Mississippi Foundation generated $19.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $14.0m during the year ending 06/2022. While expenses have increased by 3.6% per year over the past 7 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 2015, University Of Southern Mississippi Foundation has awarded 23 individual grants totaling $62,502,494. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUILD RELATIONSHIPS WITH ALUMNI AND FRIENDS IN ORDER TO SECURE PRIVATE FUNDS FOR THE BENEFIT OF USM.
Describe the Organization's Program Activity:
THE FOUNDATION PROVIDES SUPPORT TO THE UNIVERSITY OF SOUTHERN MISSISSIPPI IN A MULTITUDE OF WAYS. THIS FISCAL YEAR, THE FOUNDATION: 1) PROVIDED 2,170 SCHOLARSHIPS TOTALING $4.9MM. 2) COMPLETED A 100% PRIVATELY FUNDED BUILDING PROJECT AT USM (TOTALING APPROXIMATELY $3MM), A 5,500-SQUARE-FOOT, STATE-OF-THE-ART FACILITY (QUINLAN-HAMMOND HALL OF HONOR) SERVES AS THE NEW HOME FOR THE CENTER FOR MILITARY VETERANS, SERVICE MEMBERS AND FAMILIES. 3) PROCESSED MANY OTHER GRANTS AND TRANSFERS THAT FOSTER ACADEMIC EXCELLENCE, STUDENT SUCCESS AND INNOVATION AND DISCOVERY AT USM.
THE FOUNDATION PROVIDES OTHER SUPPORT ON BEHALF OF THE UNIVERSITY THAT ENABLES FACULTY, STAFF AND STUDENTS OPPORTUNITIES TO EXCEL IN TEACHING, RESEARCH, CREATIVE ACTIVITES, OUTREACH AND SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Payne Director | Trustee | 0.45 | $4,800 |
Louie Ehrlich President | OfficerTrustee | 0.67 | $0 |
Kelsey Rushing Vice President | OfficerTrustee | 0.47 | $0 |
Shonna Brown Treasurer And Fin. Committee Chair | OfficerTrustee | 0.48 | $0 |
Kristy Gould Immediate Past President/rdc | OfficerTrustee | 0.58 | $0 |
Stace Mercier Executive Director/secretary | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Codaray Construction - Llc Building Construction Services | 6/29/22 | $2,326,215 |
Landscape Structures Inc Playground Installation Services | 6/29/22 | $129,765 |
Sei Investment Management Fees | 6/29/22 | $666,001 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $63,478 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,916,735 |
| Noncash contributions included in lines 1a–1f | $545,409 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,980,213 |
| Total Program Service Revenue | $0 |
| Investment income | $2,929,780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,883,258 |
| Net Income from Fundraising Events | -$16,768 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,113,544 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,166,361 |
| Grants and other assistance to domestic individuals. | $23,310 |
| 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 | $148,614 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,275 |
| Fees for services: Accounting | $68,533 |
| Fees for services: Lobbying | $16,515 |
| Fees for services: Fundraising | $29,760 |
| Fees for services: Investment Management | $669,298 |
| Fees for services: Other | $746,683 |
| Advertising and promotion | $303,228 |
| Office expenses | $99,342 |
| Information technology | $112,930 |
| Royalties | $0 |
| Occupancy | $92,802 |
| Travel | $162,831 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $485,624 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,268 |
| Insurance | $55,905 |
| All other expenses | $0 |
| Total functional expenses | $14,010,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,453,276 |
| Pledges and grants receivable | $2,168,021 |
| 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 | $254,395 |
| Net Land, buildings, and equipment | $108,695 |
| Investments—publicly traded securities | $98,136,710 |
| Investments—other securities | $34,282,407 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,069,353 |
| Total assets | $151,472,857 |
| Accounts payable and accrued expenses | $1,062,133 |
| 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 | $60,174 |
| Total liabilities | $1,122,307 |
| Net assets without donor restrictions | $14,652,167 |
| Net assets with donor restrictions | $135,698,383 |
| 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 | $151,472,857 |
Grants Awarded
Over the last fiscal year, University Of Southern Mississippi Foundation has awarded $10,163,411 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Hattiesburg, MS PURPOSE: USM PROGRAMS | $10,126,584 |
Hattiesburg, MS PURPOSE: USM ALUMNI PROGRAMS | $25,360 |
Hattiesburg, MS PURPOSE: USM ATHLETICS | $11,467 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that University Of Southern Mississippi Foundation has recieved totaling $659,099.
| Awarding Organization | Amount |
|---|---|
Ergon Foundation Inc Jackson, MS PURPOSE: SCHOLARSHIP FUND | $250,000 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For nursing scholarships. | $178,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $71,806 |
The Larry Payne Foundation Hattiesburg, MS PURPOSE: EDUCATIONAL SUPPORT | $36,885 |
Bob Woodruff Family Foundation Inc New York, NY PURPOSE: LP FOOD INSECURITY AND SELF ASSSESMENT TOOL | $32,500 |
Van Devender Foundation Jackson, MS PURPOSE: SCHOOL | $25,000 |
Endowment Analysis
| Beg. Balance | $136,184,892 |
| Earnings | -$11,973,172 |
| Admin Expense | $1,879,098 |
| Net Contributions | $6,359,974 |
| Other Expense | $2,180,455 |
| Grants | $2,522,294 |
| Ending Balance | $123,989,847 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
L S U Foundation Baton Rouge, LA | $804,249,383 | $72,730,367 |
Ole Miss Athletics Foundation Oxford, MS | $97,065,287 | $57,643,164 |
University Of South Alabama Foundation Mobile, AL | $392,021,424 | $13,140,864 |
University Of Memphis Foundation Memphis, TN | $175,396,802 | $38,710,840 |
Southeastern Louisiana Area Health Education Center Natalbany, LA | $8,364,528 | $32,019,241 |
University Of Arkansas Fayetteville Campus Foundation Inc Fayetteville, AR | $748,157,500 | $15,686,060 |
Razorback Foundation Inc Fayetteville, AR | $72,537,377 | $26,130,749 |
University Of Louisiana At Lafayette Foundation Lafayette, LA | $292,703,277 | $46,235,918 |
Louisiana Tech University Foundation Inc Ruston, LA | $117,962,998 | $18,845,072 |
Mose And Garrison Siskin Memorial Foundation Inc Chattanooga, TN | $53,806,754 | $11,101,792 |
University Of Southern Mississippi Foundation Hattiesburg, MS | $151,472,857 | $19,113,544 |
Usmma Sailing Foundation Inc Spring Hill, TN | $32,552,654 | $5,996,554 |