Mississippi United Methodist Foundation Inc
- Assets
- $134.6m
- Revenue
- $6.3m
- Investments
- $123.8m
- Employees
- 8
- Location
- Ridgeland, MS
- Founding
- 07/1973
- Data as of
- 12/2022
- EIN
- 64-0507167
Organization Overview
Mississippi United Methodist Foundation Inc is located in Ridgeland, MS. The organization was established in 1973. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Mississippi United Methodist Foundation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi United Methodist 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.
For the year ending 12/2022, Mississippi United Methodist Foundation Inc generated $6.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $3.0m during the year ending 12/2022. While expenses have increased by 0.2% per year over the past 8 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 2014, Mississippi United Methodist Foundation Inc has awarded 107 individual grants totaling $1,445,595. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE METHODIST FOUNDATION OF MS RESOURCES THE CHURCH FOR EFFECTIVE MINISTRY & FRUITFUL GENEROSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE METHODIST FOUNDATION OF MISSISSIPPI AWARDED 147 SCHOLARSHIP AWARDS TOTALING $196,185. OF THESE AWARDS $175,000 WAS AWARDED TO UNDERGRADUATE STUDENTS AND $21,185 WAS AWARDED TO SEMINARY STUDENTS. AN ADDITIONAL $2,500 WAS AWARDED THROUGH THE GLOBAL BOARD OF HIGHER EDUCATION.
THE METHODIST FOUNDATION OF MISSISSIPPI DISTRIBUTED FUNDS TO VARIOUS CHURCHES AND NONPROFITS TO FURTHER THEIR EXEMPT PURPOSE. DURING THE YEAR, THE ENDOWMENTS WERE DISTRIBUTED TOTALING MORE THAN $150,000 TO VARIOUS CHURCHES AND NONPROFITS. THE FOUNDATION ADDED ADDITIONAL FUNDS TO INDIVIDUAL CHURCHES AND CLERGY IN FURTHERANCE OF THEIR EXEMPT PURPOSE AND MISSIONS. THE FOUNDATION ALSO PROVIDED SUPPORT TO THE DENOMINATIONAL CONFERENCE IN FURTHERANCE OF THEIR EXEMPT PURPOSE.
THE METHODIST FOUNDATION OF MISSISSIPPI PROVIDED INVESTMENT MANAGEMENT SERVICES FOR CHURCHES AND METHODIST AFFILIATES. THIS INCLUDES INVESTMENT DECISIONS, PURCHASES AND SALES, AS WELL AS, THE COLLECTION OF INVESTMENT INCOME AND ALLOCATION OF RETURNS. THE FOUNDATION PROVIDED GUIDANCE, LEADERSHIP, AND WORKSHOPS FOR CHURCH LEADERS AND COMMITTEES INCLUDING GENEROSITY, CHURCH AND INDIVIDUAL FINANCIAL MANAGEMENT, AND PLANNED GIVING. THE STAFF MET WITH NEARLY 100 GROUPS PROVIDING GUIDANCE, LEADERSHIP, AND WORKSHOPS FOR CHURCH LEADERS AND COMMITTEES. CHURCHES AND NONPROFIT ORGANIZATIONS INVESTED IN THE FOUNDATION TOTAL 429 WITH 26 NEW ACCOUNTS IN 2022. A TOTAL OF $18,061,035 IN GIFTS AND DEPOSITS WERE RECEIVED DURING 2022 AND $23,133,610 WAS DISTRIBUTED FOR CHARITABLE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Acie Whitlock Jr Director | Trustee | 1 | $0 |
Ben Walton Director | Trustee | 1 | $0 |
Billie Spraberry Treasurer | OfficerTrustee | 40 | $91,200 |
Bishop James Swanson Chairperson | OfficerTrustee | 1 | $0 |
Charles Leggett Jr Director | Trustee | 1 | $0 |
Chris Boone Director | Trustee | 1 | $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 | $540,777 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $540,777 |
| Total Program Service Revenue | $159,462 |
| Investment income | $1,242,486 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,326,935 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,271,287 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $302,630 |
| Grants and other assistance to domestic individuals. | $196,185 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $303,727 |
| Compensation of current officers, directors, key employees. | $119,547 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $72,463 |
| Pension plan accruals and contributions | $36,855 |
| Other employee benefits | $111,491 |
| Payroll taxes | $21,368 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,088 |
| Fees for services: Accounting | $46,373 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $196,071 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,745 |
| Office expenses | $60,037 |
| Information technology | $25,858 |
| Royalties | $0 |
| Occupancy | $43,512 |
| Travel | $19,394 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,466 |
| Interest | $1,421,704 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $65,305 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,978,623 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,945,864 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $99,131 |
| 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 | $1,694,406 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $123,840,048 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $134,579,449 |
| Accounts payable and accrued expenses | $11,328 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $92,111,129 |
| 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 | $92,122,457 |
| Net assets without donor restrictions | $23,155,806 |
| Net assets with donor restrictions | $19,301,186 |
| 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 | $134,579,449 |
Grants Awarded
Over the last fiscal year, Mississippi United Methodist Foundation Inc has awarded $204,879 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
BALDWYN UNITED METHODIST CHURCH PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $5,294 |
ASBURY THEOLOGICAL SEMINARY PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $9,782 |
BRAXTON UMC PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $24,132 |
CLEVELAND FIRST UMC PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $18,484 |
BIG CREEK UMC CEMETERY PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $20,885 |
FRENCH CAMP ACADEMY PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $18,232 |