University Of Southern Mississippi Foundation
- Assets
- $194.3m
- Revenue
- $26.8m
- Investments
- $44.0m
- Employees
- 0
- Location
- Hattiesburg, MS
- Founding
- 06/2001
- Data as of
- 06/2024
- EIN
- 64-6022505
Organization Overview
University Of Southern Mississippi Foundation is located in Hattiesburg, MS. The organization was established in 2001. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is the central organization for a national or regional group of organizations. University Of Southern Mississippi 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 06/2024, University Of Southern Mississippi Foundation generated $26.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $12.1m during the year ending 06/2024. While expenses have increased by 1.2% 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 2015, University Of Southern Mississippi Foundation has awarded 30 individual grants totaling $80,237,042. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
BUILD RELATIONSHIPS WITH ALUMNI AND FRIENDS IN ORDER TO SECURE PRIVATE FUNDS FOR THE BENEFIT OF USM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES SUPPORT TO THE UNIVERSITY OF SOUTHERN MISSISSIPPI IN A MULTITUDE OF WAYS. THIS FISCAL YEAR, THE FOUNDATION PROVIDED 2,443 SCHOLARSHIPS TOTALING $5.6MM AND PROCESSED MANY OTHER GRANTS AND TRANSFERS THAT FOSTER ACADEMIC EXCELLENCE, STUDENT SUCCESS AND INNOVATION AND DISCOVERY AT USM.
THE FOUNDATION PROVIDES OTHER SUPPORT ON BEHALF OF THE UNIVERSITY THAT ENABLES FACULTY, STAFF AND STUDENTS OPPORTUNITIES TO EXCEL IN TEACHING, RESEARCH, CREATIVE ACTIVITES, OUTREACH AND SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stace Mercier Executive Director/secretary | Officer | 40 | $136,502 |
Leslee Smith Chief Financial Officer | Officer | 40 | $86,829 |
Jennifer Payne Member-At-Large | Trustee | 0.55 | $16,050 |
Joe Quinlan President | OfficerTrustee | 0.68 | $0 |
Chris Anderson Vice Pres And Resource Dev. Committee Chair | OfficerTrustee | 0.49 | $0 |
Wade Howk Treasurer And Finance Committee Chair | OfficerTrustee | 0.34 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sei Investment Management Fees | 6/29/24 | $779,414 |
Codaray Construction - Llc Building Construction Serv. | 6/29/24 | $247,142 |
Blackbaud Inc Software Services | 6/29/24 | $157,923 |
Huron Consulting Group Inc Tech. Consulting-advisory | 6/29/24 | $134,330 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $126,649 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,071,302 |
| Noncash contributions included in lines 1a–1f | $536,910 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,197,951 |
| Total Program Service Revenue | $0 |
| Investment income | $3,674,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,929,561 |
| Net Income from Fundraising Events | -$44,082 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,790,188 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,127,262 |
| Grants and other assistance to domestic individuals. | $40,370 |
| Grants and other assistance to Foreign Orgs/Individuals | $7,000 |
| 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 | $37,751 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,986 |
| Fees for services: Accounting | $58,243 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $7,440 |
| Fees for services: Investment Management | $832,890 |
| Fees for services: Other | $226,324 |
| Advertising and promotion | $333,336 |
| Office expenses | $111,257 |
| Information technology | $155,831 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $206,398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $1,081 |
| Conferences, conventions, and meetings | $300,686 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,084 |
| Insurance | $47,835 |
| All other expenses | $34,400 |
| Total functional expenses | $12,071,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,864,221 |
| Pledges and grants receivable | $7,055,548 |
| 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 | $21,254 |
| Prepaid expenses and deferred charges | $273,499 |
| Net Land, buildings, and equipment | $1,290,321 |
| Investments—publicly traded securities | $121,821,225 |
| Investments—other securities | $44,025,695 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,905,920 |
| Total assets | $194,257,683 |
| Accounts payable and accrued expenses | $682,162 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $55,918 |
| Total liabilities | $738,080 |
| Net assets without donor restrictions | $20,483,651 |
| Net assets with donor restrictions | $173,035,952 |
| 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 | $194,257,683 |
Grants Awarded
Over the last fiscal year, University Of Southern Mississippi Foundation has awarded $9,125,012 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
THE UNIVERSITY OF SOUTHERN MISSISSIPPI PURPOSE: USM PROGRAMS | $9,064,109 |
THE UNIVERSITY OF SOUTHERN MISSISSIPPI ALUMNI ASSOCIATION PURPOSE: USM ALUMNI PROGRAMS | $43,100 |
THE UNIVERSITY OF SOUTHERN MS ATHLETIC FOUNDATION PURPOSE: USM ATHLETICS | $8,803 |
UNIVERSITY OF SOUTHERN MISSISSIPPI RESEARCH FOUNDATION PURPOSE: USM RESEARCH ACTIVITIES | $9,000 |