Robert M Hearin Foundation
- Assets
- $32.5m
- Revenue
- $2.0m
- Investments
- $32.1m
- Employees
- 0
- Location
- Ridgeland, MS
- Founding
- 12/1965
- Data as of
- 11/2023
- EIN
- 64-6027443
Organization Overview
Robert M Hearin Foundation is located in Ridgeland, MS. The organization was established in 1965. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Robert M Hearin 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 11/2023, Robert M Hearin Foundation generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $1.7m during the year ending 11/2023. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Robert M Hearin Foundation has awarded 104 individual grants totaling $24,842,578. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert M Hearin Jr Trustee | 2 | $15,000 | |
Laurie H Mcree Trustee | 2 | $15,000 | |
Matthew L Holleman III Trustee | 10 | $15,000 | |
E E Laird Jr Trustee | 2 | $15,000 | |
Steven M Hendrix Trustee | 2 | $15,000 | |
Alan W Perry Trustee | 2 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $410,382 |
| Dividends & Interest | $1,184,022 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $425,161 |
| Capital Gain Net Income | $425,161 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,333 |
| Total Revenue | $2,026,898 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $90,000 |
| Other employee salaries and wages | $11,842 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25,402 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $34,049 |
| Total operating and administrative expenses | $326,241 |
| Contributions, gifts, grants paid | $1,325,252 |
| Total expenses and disbursements | $1,651,493 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $323,268 |
| Savings and temporary cash investments | $0 |
| 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 | $21,796 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $29,631,492 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $39,302 |
| Total assets | $32,491,973 |
| Accounts payable and accrued expenses | $12,500 |
| Grants payable | $3,964,677 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $223,434 |
| Total liabilities | $4,200,611 |
Grants Awarded
Over the last fiscal year, Robert M Hearin Foundation has awarded $3,322,858 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
MS COLLEGE PURPOSE: SCHOLARSHIPS | $300,000 |
DELTA STATE PURPOSE: SCHOLARSHIPS | $150,000 |
MS STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $675,000 |
UNIV OF MS PURPOSE: SCHOLARSHIPS | $333,800 |
MILLSAPS COLLEGE PURPOSE: SCHOLARSHIPS | $75,000 |
UNIV OF MS MEDICAL CENTER PURPOSE: SCHOLARSHIPS | $331,250 |