Mississippi Power Foundation Inc
- Assets
- $44.1m
- Revenue
- $12.5m
- Investments
- $42.1m
- Employees
- 0
- Location
- Gulfport, MS
- Founding
- 01/1998
- Data as of
- 12/2021
- EIN
- 72-1370746
Organization Overview
Mississippi Power Foundation Inc is located in Gulfport, MS. The organization was established in 1998. 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. Mississippi Power Foundation Inc 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 12/2021, Mississippi Power Foundation Inc generated $12.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 39.7% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Mississippi Power Foundation Inc has awarded 597 individual grants totaling $5,959,975. 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 |
|---|---|---|---|
Janice Dixon Member - Non Voting; Part Year | 25 | $83,250 | |
Mr L Paul Bradford Executive Director; Part Year | 15 | $57,297 | |
Mr Steven Dick Executive Director; Part Year | 15 | $40,022 | |
Jennifer Walker Member - Non Voting; Part Year | 25 | $22,101 | |
Tommy Murphy Board Member | 0 | $0 | |
Moses Feagin Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,710,011 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,212,921 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,616,690 |
| Capital Gain Net Income | $2,616,690 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $177 |
| Total Revenue | $12,539,799 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $202,670 |
| Other employee salaries and wages | $2,932 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $31,950 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $181,999 |
| Total operating and administrative expenses | $441,318 |
| Contributions, gifts, grants paid | $1,364,837 |
| Total expenses and disbursements | $1,806,155 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $249,379 |
| Savings and temporary cash investments | $1,673,845 |
| 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 | $2,839,231 |
| Investments—other | $450,097 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $70,154 |
| Total assets | $44,074,843 |
| Accounts payable and accrued expenses | $23,157 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $23,157 |
Grants Awarded
Over the last fiscal year, Mississippi Power Foundation Inc has awarded $1,364,837 in support to 78 organizations.
| Grant Recipient | Amount |
|---|---|
Gulfport, MS PURPOSE: DONATION FOR THE SAFETY CITY PROGRAM AND SUPPORTING EDUCATIONAL ACTIVITES FOR PRE-K TO SCHOOL AGE CHLLDREN | $105,000 |
Biloxi, MS PURPOSE: COVID-10 RELIEF EFFORT-DOLLARS TO ASSIST WITH UNDERPRIVILEGED IN PAYING BILLS. | $100,000 |
COMMUNITY DEVELOPMENT FOUNDATION OF JONES COUNTY PURPOSE: MINORITY SMALL BUSINESS GRANTS/CITY OF ELLISVILLE PARK PAVILLON RENOVATION/TOWN OF HEILDELBERG REVITALIZATION/WAYNE COUNTY CHAMBER FOR RHINEHART SQUARE PHASE 3 REVITALIZATION | $90,000 |
UNITED WAY FOR JACKSON & GEORGE COUNTIES PURPOSE: MATCHING PAYMENT PROGRAM/ACT WORK PGM FOR MOSS POINT & OCEAN SPRINGS HIGH SCHOOL STUDENTS/MINORITY BUSINESS OWNER GRANTS | $69,691 |
Hattiesburg, MS PURPOSE: PINEY WOODS CONSERVATION DONATION/HATTIESBURG ZOO ELECTRIC TRAIN DONATION | $55,000 |
COLUMBIA-MARION COUNTY DEVELOPMENT FOUNDATION PURPOSE: SUPPORT ACT WORK READY PROGRAM AND DOWNTOWN COLUMBIA STREETSCAPE PROJECT | $55,000 |
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 |