Mississippi Power Foundation Inc
- Assets
- $36.4m
- Revenue
- -$474.9k
- Investments
- $35.3m
- Employees
- 0
- Location
- Gulfport, MS
- Founding
- 01/1998
- Data as of
- 12/2022
- EIN
- 72-1370746
Organization Overview
Mississippi Power Foundation Inc is located in Gulfport, MS. The organization was established in 1998. 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. Mississippi Power 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 2016, Mississippi Power Foundation Inc has awarded 804 individual grants totaling $8,178,675. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tommy Murphy Board Member | 0 | $0 | |
Moses Feagin Treasurer | 0 | $0 | |
Billy Thornton President | 0 | $0 | |
Shawn Shurden Secretary | 0 | $0 | |
Fe Strickland Member - Non Voting | 0 | $0 | |
Janice Dixon Member - Non Voting | 25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,051,691 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,526,580 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$474,889 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $180,059 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $54,665 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $171,743 |
| Total operating and administrative expenses | $427,081 |
| Contributions, gifts, grants paid | $1,316,477 |
| Total expenses and disbursements | $1,743,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,174 |
| Savings and temporary cash investments | $794,205 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $3,555,740 |
| Investments—other | $21,738,782 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $140,451 |
| Total assets | $36,357,553 |
| Accounts payable and accrued expenses | $16,578 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $16,578 |
Grants Awarded
Over the last fiscal year, Mississippi Power Foundation Inc has awarded $1,316,477 in support to 83 organizations.
| Grant Recipient | Amount |
|---|---|
2ND CHANCE MS INC PURPOSE: DONATION TO FURTHER THE ADULT LEARNERS LEGACY | $5,000 |
ALEC MISSISSIPPI CHAPTER PURPOSE: FURTHER EDUCATION FOR MS. LEGISLATIVES | $5,000 |
AMERICAN CANCER SOCIETY INC PURPOSE: SHUCK CANCER GULF COAST AND REAL MEN WEAR PINK FUNDRAISERS | $10,000 |
AMERICAN HEART ASSOCIATION PURPOSE: DONATION TO FOREST/LAMAR/JONES CTY HEART WALKS | $26,500 |
ARMED FORCES MUSEUM FOUNDATION INC PURPOSE: CAMP SHELBY MUSEUM DISPLAY OF ADJ GENERAL COLLINS UNIFORM | $50,000 |
ARTS HANCOCK COUNTY MISSISSIPPI PURPOSE: SUPPORT LOCAL ART PROJECTS IN HANCOCK COUNTY | $25,000 |