Ole Miss Athletics Foundation
- Assets
- $136.3m
- Revenue
- $49.8m
- Investments
- $0.0
- Employees
- 52
- Location
- Oxford, MS
- Founding
- 07/1969
- Data as of
- 06/2023
- EIN
- 64-0474850
Organization Overview
Ole Miss Athletics Foundation is located in Oxford, MS. The organization was established in 1969. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Ole Miss Athletics Foundation employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ole Miss Athletics 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 06/2023, Ole Miss Athletics Foundation generated $49.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $40.4m during the year ending 06/2023. 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
PROVIDING DIRECT AND INDIRECT FUNDING FOR SCHOLARSHIPS, FACILITIES, SALARY SUPPLEMENTS, AND OTHER SUPPORT FOR THE UNIVERSITY OF MISSISSIPPI DEPARTMENT OF INTERCOLLEGIATE ATHLETICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED FINANCIAL SUPPORT TO THE UNIVERSITY OF MISSISSIPPI FOR MAJOR FACILITIES CONSTRUCTION AND IMPROVEMENTS ON THE CAMPUS DURING THIS FISCAL YEAR. THE ORGANIZATION ALSO PROVIDED SIGNIFICANT SALARY SUPPLEMENTS TO UNIVERSITY STAFF MEMBERS AND BOTH DIRECTLY AND INDIRECTLY SUPPORTED THE UNIVERSITY WITH FUNDING FOR SCHOLARSHIPS AND OTHER SUPPORT FOR THE UNIVERSITY'S ATHLETIC PROGRAMS AND SCHOLAR ATHLETES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Fruge Chairman | OfficerTrustee | 5 | $0 |
David Blackburn Secretary | OfficerTrustee | 5 | $0 |
Cal Mayo President | OfficerTrustee | 5 | $0 |
Mary Sharp Rayner Vice President | OfficerTrustee | 5 | $0 |
Peter Ross Board Governor | Trustee | 5 | $0 |
Michael Glenn Board Governor | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
William H Roark Contractor | 6/29/23 | $1,401,820 |
Uber Displays Llc Contractor | 6/29/23 | $530,854 |
Paciolan Contractor | 6/29/23 | $728,622 |
Nations Group Contractor | 6/29/23 | $387,525 |
Ford Audio Video Systems Llc Contractor | 6/29/23 | $410,711 |
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 | $49,231,876 |
| Noncash contributions included in lines 1a–1f | $2,571,171 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,231,876 |
| Total Program Service Revenue | $0 |
| Investment income | $514,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $44,868 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,791,515 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,897,417 |
| 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. | $114,298 |
| Compensation of current officers, directors, key employees. | $57,149 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,921,701 |
| Pension plan accruals and contributions | $183,900 |
| Other employee benefits | $128,968 |
| Payroll taxes | $2,557,268 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $61,293 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $151,756 |
| Fees for services: Other | $145,240 |
| Advertising and promotion | $38,701 |
| Office expenses | $100,883 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $996,683 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $864,592 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,749,500 |
| Insurance | $263,032 |
| All other expenses | $942,102 |
| Total functional expenses | $40,426,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,707,361 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $43,825,097 |
| Accounts receivable, net | $8,785,506 |
| 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 | $304,273 |
| Net Land, buildings, and equipment | $58,444,169 |
| Investments—publicly traded securities | $2,016,195 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,176,814 |
| Total assets | $136,259,415 |
| Accounts payable and accrued expenses | $6,638,121 |
| Grants payable | $0 |
| Deferred revenue | $41,199 |
| 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 | $49,608,016 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,787,795 |
| Total liabilities | $65,075,131 |
| Net assets without donor restrictions | $19,826,550 |
| Net assets with donor restrictions | $51,357,734 |
| 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 | $136,259,415 |