Robert M Hearin Support Foundation
- Assets
- $193.4m
- Revenue
- $17.8m
- Investments
- $137.1m
- Employees
- 1
- Location
- Jackson, MS
- Founding
- 12/1995
- Data as of
- 11/2021
- EIN
- 58-2203211
Organization Overview
Robert M Hearin Support Foundation is located in Jackson, MS. The organization was established in 1995. 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. Robert M Hearin Support 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 11/2021, Robert M Hearin Support Foundation generated $17.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $12.7m during the year ending 11/2021. While expenses have increased by 2.3% per year over the past 6 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 2020, Robert M Hearin Support Foundation has awarded 54 individual grants totaling $36,859,053. 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
TO PROVIDE SUPPORT THROUGH GRANTS TO SPECIFIED EDUCATIONAL INSTITUTIONS AND PUBLIC CHARITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO UNIV OF MS FOR TEACHING, ENGINEERING, BUSINESS/ENTREPRENEURSHIP, SCIENCE/ADVANCED MANUFACTURING, & OTHER PURPOSES.
GRANTS TO MS STATE UNIV FOR TEACHING, ENGINEERING, ARCHITECTURE, & OTHER PURPOSES.
GRANT TO MS MUSEUM OF ART FOR ART EXHIBITION AND EDUCATION.
TO MAKE GRANTS TO SPECIFIED EDUCATIONAL INSTITUTIONS AND PUBLIC CHARITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Steve Hendrix Trustee | Trustee | 3 | $30,000 |
Mr Matthew L Holleman Trustee | Trustee | 12 | $30,000 |
Mr Ee Laird Jr Trustee | Trustee | 3 | $30,000 |
Mr Alan W Perry Trustee | Trustee | 3 | $30,000 |
Ms Laurie Hearin Mcree Trustee | Trustee | 3 | $0 |
Mr Robert M Hearin Jr Trustee | Trustee | 3 | $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 | $9,287,299 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,461,759 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,750,137 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,775,155 |
| 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. | $139,750 |
| Compensation of current officers, directors, key employees. | $69,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,511 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $826 |
| Fees for services: Accounting | $42,720 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $510,038 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $61,751 |
| All other expenses | $0 |
| Total functional expenses | $12,731,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $708,906 |
| Savings and temporary cash investments | $133,605 |
| 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 | $0 |
| Investments—publicly traded securities | $55,465,437 |
| Investments—other securities | $137,074,469 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $193,382,417 |
| 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 | $193,382,417 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $193,382,417 |
Grants Awarded
Over the last fiscal year, Robert M Hearin Support Foundation has awarded $11,775,155 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
UNIV OF MS PURPOSE: EDU & SCHOLARSHIPS | $6,759,766 |
MS STATE UNIV PURPOSE: EDUCATION | $3,115,000 |
MS MUSEUM OF ART PURPOSE: EXHIBITS & EDUCATION | $799,700 |
UNIV OF SOUTHERN MS PURPOSE: EDUCATION | $310,000 |
MILLSAPS COLLEGE PURPOSE: EDUCATION | $291,689 |
DELTA STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $140,000 |
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 |