Eastman Memorial Foundation
- Assets
- $44.2m
- Revenue
- $2.0m
- Investments
- $11.1m
- Employees
- 0
- Location
- Laurel, MS
- Founding
- 02/1947
- Data as of
- 05/2022
- EIN
- 64-0308406
Organization Overview
Eastman Memorial Foundation is located in Laurel, MS. The organization was established in 1947. 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. Eastman Memorial 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 05/2022, Eastman Memorial Foundation generated $2.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $1.5m during the year ending 05/2022. While expenses have increased by 0.2% per year over the past 4 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF MUSEUM
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $693,807 |
| Interest on Savings | $0 |
| Dividends & Interest | $265,426 |
| Net Rental Income | $19,911 |
| Net Gain on Sale of Assets | $323,976 |
| Capital Gain Net Income | $323,976 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $689,303 |
| Total Revenue | $1,992,423 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $104,393 |
| Other employee salaries and wages | $297,353 |
| Pension plans, employee benefits | $42,133 |
| Interest | $0 |
| Taxes | $32,904 |
| Depreciation | $203,889 |
| Occupancy | $130,012 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $11,311 |
| Other expenses | $676,310 |
| Total operating and administrative expenses | $1,519,830 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,519,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,526 |
| Savings and temporary cash investments | $534,266 |
| 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 | $40,667 |
| Prepaid expenses and deferred charges | $63,647 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,279 |
| Net Land, buildings, and equipment | $3,908,399 |
| Other assets | $28,565,841 |
| Total assets | $44,209,517 |
| Accounts payable and accrued expenses | $37,360 |
| Grants payable | $0 |
| Deferred revenue | $17,405 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $75,091 |
| Other liabilities | $0 |
| Total liabilities | $129,856 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Eastman Memorial Foundation has recieved totaling $11,670.
| Awarding Organization | Amount |
|---|---|
Mississippi Humanities Council Inc Jackson, MS PURPOSE: TO PROMOTE HUMANITIES IN MISSISSIPPI PUBLIC LIFE. | $11,670 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
The William B Wiener Jr Foundation Shreveport, LA | $23,196,478 | $3,677,470 |
Bashinsky Foundation Inc Birmingham, AL | $2,626,965 | $3,568,518 |
Ergon Foundation Inc Jackson, MS | $213,824,095 | $11,919,127 |
Winthrop Rockefeller Foundation Little Rock, AR | $169,499,273 | $12,187,719 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |
Irene W And C B Pennington Foundation Baton Rouge, LA | $0 | $6,041,681 |
G Harbaugh Foundation Franklin, TN | $61,708,468 | $12,393,056 |