University Of Southern Mississippi Athletic Foundation is located in Hattiesburg, MS. The organization was established in 2000. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Southern Mississippi Athletic 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, University Of Southern Mississippi Athletic Foundation generated $8.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $7.3m during the year ending 06/2023. While expenses have increased by 2.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ATHLETIC FOUNDATION IS TO PROVIDE FINANCIAL SUPPORTTO THE UNIVERSITY OF SOUTHERN MISSISSIPPI ATHLETIC PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES SPONSORED BY THE ATHLETIC FOUNDATION TO BENEFIT THE ATHLETIC PROGRAM AND THE STUDENT ATHLETES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Abb Payne President | OfficerTrustee | 0 | $0 |
Forrest Roberts Director | Trustee | 0 | $0 |
Andy Woodard Director | Trustee | 0 | $0 |
Charley Wallace Treasurer | OfficerTrustee | 0 | $0 |
David Rimes Director | Trustee | 0 | $0 |
Dr Cathy Sessums Director | Trustee | 0 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Adams & Reese Llp Legal | 6/29/23 | $130,193 |
Wba Architecture Architecture Services | 6/29/23 | $109,200 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $301,423 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $8,096,563 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $8,397,986 |
Total Program Service Revenue | $22,775 |
Investment income | $301,428 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $1,000 |
Net Gain/Loss on Asset Sales | $267,289 |
Net Income from Fundraising Events | -$103,252 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $8,887,226 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $2,983,228 |
Grants and other assistance to domestic individuals. | $2,138,660 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $487,190 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $147,972 |
Fees for services: Accounting | $17,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $46,100 |
Fees for services: Other | $313,117 |
Advertising and promotion | $800 |
Office expenses | $166,515 |
Information technology | $16,114 |
Royalties | $0 |
Occupancy | $72,460 |
Travel | $192,095 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $5,885 |
Interest | $83,124 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $29,143 |
Insurance | $31,314 |
All other expenses | $26,701 |
Total functional expenses | $7,334,850 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,371,770 |
Savings and temporary cash investments | $36,508 |
Pledges and grants receivable | $4,573,273 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $255,684 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $604,875 |
Investments—publicly traded securities | $7,856,428 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $16,698,538 |
Accounts payable and accrued expenses | $644,180 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $2,546,426 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $3,190,606 |
Net assets without donor restrictions | $443,449 |
Net assets with donor restrictions | $13,064,483 |
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 | $16,698,538 |