Maddox Foundation
- Assets
- $3.7m
- Revenue
- $3.3m
- Investments
- $2.7m
- Employees
- 0
- Location
- Hernando, MS
- Founding
- 02/2000
- Data as of
- 12/2023
- EIN
- 64-0917900
Organization Overview
Maddox Foundation is located in Hernando, MS. The organization was established in 2000. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Maddox 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 12/2023, Maddox Foundation generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 44.8% each year . All expenses for the organization totaled $6.0m during the year ending 12/2023. While expenses have increased by 10.5% 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.
Since 2020, Maddox Foundation has awarded 145 individual grants totaling $13,955,709. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE COMMUNITY OUTREACH/ENGAGEMENT W/ LOCAL CHARITABLE ORGS TO DEVELOP RESOURCES & PROGRAM SUPPORT TO MEET COMM. NEEDS & TO HELP NPOS ACHIEVE SUSTAINABILITY-STMT 17
SUPPORTS SERVICE OF THE FDN'S BOARD & STAFF ON BOARDS OR ADV. COMMITTEES OF OTHER CHARITABLE ORGS & COLLABORATE W/ YMCA TO ESTABLISH A NEW YMCA IN HERNANDO, MS.-STMT 17
SUPPORT, ADVICE & COUNSEL TO ETIC'S EFFORTS TO EXTEND NATL TOUR EXHIBIT "LET THE WORLD SEE" BOLSTERING AWARENESS FOR NATL MONUMENT FOR EMMETT TILL & MAMIE TILL-MOBLEY -STMT 17
PROVIDE COLLABORATIVE SUPPORT W/ THE CITY OF HERNANDO,MS TO REPAIR TORNADO DAMAGE TO CONGER PARK (A PREV SIGNATURE INVESTMENT OF THE FOUNDATION)-STMT 17
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robin G Hurdle President | 65 | $460,605 | |
Karen Sanders Board Member | 10 | $9,000 | |
Carol Ayers Bd Mbr & Sec | 10 | $9,000 | |
Lanier Hurdle Board Member | 10 | $7,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $110,224 |
| Dividends & Interest | $624,007 |
| Net Rental Income | $2,633,888 |
| Net Gain on Sale of Assets | -$239,152 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $59,922 |
| Total Revenue | $3,282,515 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $486,105 |
| Other employee salaries and wages | $88,851 |
| Pension plans, employee benefits | $173,454 |
| Interest | $158,548 |
| Taxes | $321,074 |
| Depreciation | $30,257 |
| Occupancy | $157,124 |
| Travel, conferences, and meetings | $36,285 |
| Printing and publications | $6,126 |
| Other expenses | $961,562 |
| Total operating and administrative expenses | $2,508,295 |
| Contributions, gifts, grants paid | $3,493,200 |
| Total expenses and disbursements | $6,001,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $602,800 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $889,252 |
| Net Land, buildings, and equipment | $466,530 |
| Other assets | $2,625 |
| Total assets | $3,730,105 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $618,768 |
| Other liabilities | $34,418 |
| Total liabilities | $653,186 |
Grants Awarded
Over the last fiscal year, Maddox Foundation has awarded $3,493,200 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
YMCA OF MEMPHIS & THE MID-SOUTH PURPOSE: DEVELOPMENT OF NEW YMCA IN HERNANDO | $3,000,000 |
GRAMMY MUSEUM MISSISSIPPI PURPOSE: TEACH & INSPIRE FUTURE GENERATIONS | $250,000 |
EMMETT TILL INTERPRETIVE CENTER PURPOSE: PRESERVE MEMORY OF EMMETT TILL | $75,000 |
GRAMMY MUSEUM MISSISSIPPI PURPOSE: EDUCATION DIRECTOR TO TEACH NEXT GEN | $50,000 |
BOY SCOUTS OF AMERICA - MIDDLE TN PURPOSE: YOUTH LEADERSHIP PROGRAM | $50,000 |
MISSISSIPPI NEWS CORPORATION PURPOSE: SUPPORT CIVIC ENG & PUBLIC DIALOGUE | $25,000 |