Southeastern Foundation
- Assets
- $38.8m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Durant, OK
- Founding
- 01/1968
- Data as of
- 06/2023
- EIN
- 73-0765384
Organization Overview
Southeastern Foundation is located in Durant, OK. The organization was established in 1968. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern 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, Southeastern Foundation generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $2.9m during the year ending 06/2023. 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
TO PROVIDE SCHOLARSHIPS AND EDUCATIONAL SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDS SCHOLARSHIPS TO STUDENTS AND PROVIDES SUPPORT TO UNIVERSITY PROGRAMS INCLUDING STUDENT HOUSING, FACULTY OF SOUTHEASTERN OKLAHOMA STATE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Mantzey Trustee | Trustee | 0 | $0 |
Hk Hatcher Trustee | Trustee | 2 | $0 |
Jerry Buchanan Trustee | Trustee | 2 | $0 |
Jared Johnson Trustee | Trustee | 2 | $0 |
Jim Mcguire Treasurer | OfficerTrustee | 2 | $0 |
Brett Morton Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $795,942 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $795,942 |
| Total Program Service Revenue | $1,109,486 |
| Investment income | $1,223,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $382,879 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$328,725 |
| Net Income from Fundraising Events | $101,636 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,429,687 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $725,918 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,945 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $358,106 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $241,255 |
| Insurance | $79,961 |
| All other expenses | $176,410 |
| Total functional expenses | $2,949,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,521,228 |
| Savings and temporary cash investments | $59,861 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,340 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,528 |
| Net Land, buildings, and equipment | $5,041,775 |
| Investments—publicly traded securities | $30,754,138 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $71,814 |
| Other assets | $308,550 |
| Total assets | $38,825,234 |
| Accounts payable and accrued expenses | $924,540 |
| Grants payable | $764,321 |
| Deferred revenue | $25,670 |
| 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 | $6,122,550 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,705 |
| Total liabilities | $7,865,786 |
| Net assets without donor restrictions | -$201,993 |
| Net assets with donor restrictions | $31,161,441 |
| 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 | $38,825,234 |