Woodward Hines Education Foundation
- Assets
- $222.0m
- Revenue
- $28.7m
- Investments
- $155.0m
- Employees
- 34
- Location
- Jackson, MS
- Founding
- 05/1996
- Data as of
- 12/2021
- EIN
- 64-0860939
Organization Overview
Woodward Hines Education Foundation is located in Jackson, MS. The organization was established in 1996. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2022, Woodward Hines Education Foundation employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodward Hines Education 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 12/2021, Woodward Hines Education Foundation generated $28.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 40.4% each year . All expenses for the organization totaled $6.6m during the year ending 12/2021. While expenses have increased by 7.6% 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 2017, Woodward Hines Education Foundation has awarded 52 individual grants totaling $4,258,588. 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
PROVIDING SERVICES TO STUDENTS AND PARENTS INCLUDING COLLEGE ACCESS AND FINANCIAL AID COUNSELING, AND MENTORING STUDENTS IN MISSISSIPPI AND PROVIDING MANAGEMENT SERVICE TO MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION (A NOT-FOR-PROFIT SECONDARY MARKET CORPORATION).
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SERVICES TO STUDENTS AND PARENTS INCLUDING SCHOLARSHIPS, COLLEGE ACCESS AND FINANCIAL AID COUNSELING, AND MENTORING STUDENTS IN MISSISSIPPI.
GRANTS TO NONPROFIT ORGANIZATIONS PROVIDING SERVICES AND ASSISTANCE TO STUDENTS.
PROVIDING MANAGEMENT SERVICES TO MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Carlisle Director | Trustee | 1 | $4,250 |
Michael Cormack Jr Director | Trustee | 1 | $5,175 |
Haley Fisackerly Director | Trustee | 1 | $5,500 |
Robert Leard Director | Trustee | 1 | $5,650 |
David Martin Director | Trustee | 1 | $6,350 |
Debra Mcgee Director | Trustee | 1 | $6,100 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cambridge Associates Investment Management | 12/30/22 | $186,666 |
Hederman Brothers Publications | 12/30/22 | $232,452 |
Business Communications It Consulting | 12/30/22 | $142,974 |
Fund Evaluation Group Investment Management | 12/30/22 | $194,268 |
Kansa Advisory Investment Consulting | 12/30/22 | $105,000 |
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 | $761,850 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $761,850 |
| Total Program Service Revenue | $684,300 |
| Investment income | $1,123,211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $26,157,291 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,726,652 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $759,852 |
| 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. | $921,835 |
| Compensation of current officers, directors, key employees. | $390,532 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,427,094 |
| Pension plan accruals and contributions | $76,989 |
| Other employee benefits | $175,348 |
| Payroll taxes | $155,189 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,574 |
| Fees for services: Accounting | $95,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $382,079 |
| Fees for services: Other | $590,641 |
| Advertising and promotion | $159,843 |
| Office expenses | $116,985 |
| Information technology | $479,683 |
| Royalties | $0 |
| Occupancy | $371,270 |
| Travel | $61,518 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $82,478 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,634 |
| Insurance | $174,931 |
| All other expenses | $126,024 |
| Total functional expenses | $6,595,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,540,453 |
| Savings and temporary cash investments | $30,202,822 |
| Pledges and grants receivable | $45,858 |
| 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 | $181,466 |
| Investments—publicly traded securities | $33,307,134 |
| Investments—other securities | $155,047,249 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $706,308 |
| Total assets | $222,031,290 |
| Accounts payable and accrued expenses | $509,874 |
| Grants payable | $245,850 |
| Deferred revenue | $2,877 |
| 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 | $758,601 |
| Net assets without donor restrictions | $221,272,689 |
| 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 | $222,031,290 |
Grants Awarded
Over the last fiscal year, Woodward Hines Education Foundation has awarded $1,144,312 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
MISSISSIPPI ALLIANCE OF NONPROFITS PURPOSE: TO ENGAGE CONSULTANTS IN ADVANCING AGENDA AND GOALS RELATED TO THE MS CONNECTS EFFORT, WHICH SEEKS TO GREATLY EXPAND BROADBAND ACCESS FOR MISSISSIPPI STUDENTS. | $19,111 |
MISSISSIPPI UNIVERSITY FOR WOMEN PURPOSE: TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS. | $92,046 |
DELTA STATE UNIVERSITY PURPOSE: TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS. | $114,070 |
UNIVERSITY OF SOUTHERN MISSISSIPPI PURPOSE: TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS. | $105,455 |
UNIVERSITY OF MISSISSIPPI PURPOSE: TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS. | $135,766 |
MISSISSIPPI VALLEY STATE UNIVERSITY PURPOSE: TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS. | $30,000 |