Robert M Hearin Foundation
- Assets
- $31.6m
- Revenue
- $2.0m
- Investments
- $31.4m
- Employees
- 0
- Location
- Jackson, MS
- Founding
- 12/1965
- Data as of
- 11/2021
- EIN
- 64-6027443
Organization Overview
Robert M Hearin Foundation is located in Jackson, 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 11/2021, Robert M Hearin Foundation generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $4.7m during the year ending 11/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Robert M Hearin Foundation has awarded 131 individual grants totaling $26,041,986. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurie H Mcree Trustee | 2 | $15,000 | |
Steven M Hendrix Trustee | 2 | $15,000 | |
Matthew L Holleman III Trustee | 10 | $15,000 | |
E E Laird Jr Trustee | 2 | $15,000 | |
Robert M Hearin Jr Trustee | 2 | $15,000 | |
Alan W Perry Trustee | 2 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $295,646 |
| Dividends & Interest | $1,176,429 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $493,405 |
| Capital Gain Net Income | $493,405 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,469 |
| Total Revenue | $1,970,949 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $90,000 |
| Other employee salaries and wages | $10,586 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $24,606 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $32,923 |
| Total operating and administrative expenses | $329,562 |
| Contributions, gifts, grants paid | $4,396,307 |
| Total expenses and disbursements | $4,725,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $178,491 |
| 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 | $522 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $28,835,785 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $36,151 |
| Total assets | $31,622,082 |
| Accounts payable and accrued expenses | $12,500 |
| Grants payable | $5,704,141 |
| 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 | $5,940,075 |
Grants Awarded
Over the last fiscal year, Robert M Hearin Foundation has awarded $6,380,807 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
MS STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $3,100,000 |
MS STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $1,050,000 |
UNIV OF MS MEDICAL CENTER PURPOSE: SCHOLARSHIPS | $449,500 |
DELTA STATE PURPOSE: SCHOLARSHIPS | $406,000 |
UNIV OF MS MEDICAL CENTER PURPOSE: SCHOLARSHIPS | $300,000 |
MS COLLEGE PURPOSE: SCHOLARSHIPS | $300,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
The William B Wiener Jr Foundation Shreveport, LA | $23,196,478 | $3,677,470 |
Bashinsky Foundation Inc Birmingham, AL | $2,626,965 | $3,568,518 |
Ergon Foundation Inc Jackson, MS | $213,824,095 | $11,919,127 |
Winthrop Rockefeller Foundation Little Rock, AR | $169,499,273 | $12,187,719 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |
Irene W And C B Pennington Foundation Baton Rouge, LA | $0 | $6,041,681 |
G Harbaugh Foundation Franklin, TN | $61,708,468 | $12,393,056 |