Form 990 for tax year 2023

Totals

Total revenue

$9,781,341

Total expenses

$9,009,973

Contributions and grants received

$3,759,850

Grants paid

$830,000

Program service revenue

$5,401,650

Investment income

$619,841

Other revenue

$0

Total assets, end of year

$117,087,253

Total liabilities, end of year

$83,282,653

Net assets or fund balances, end of year

$33,804,600

Program services expenses (Part IX)

$8,780,047

Management and general expenses

$229,926

Fundraising expenses

$0

Program service expenses (Part III)

$8,780,047

Program services were 97.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2023

• THE CORPORATION SERVICED STUDENT LOANS INCURRED UNDER THE HIGHER EDUCATION ACT OF 1965 AS AMENDED. THE PRIMARY SOURCE OF FUNDS WAS THE ISSUANCE OF TAX-EXEMPT BONDS AND TAXABLE NOTES. IN 2014, THE CORPORATION ISSUED TAXABLE BONDS TO RENFINANCE ITS DEBT AND IS NO LONGER ELIGIBLE TO ISSUE TAX-EXEMPT BONDS.

  Expenses $7,950,047 · Revenue $5,401,650

• FUNDS CONTRIBUTED TO WOODWARD HINES EDUCATION FOUNDATION FOR ITS GENERAL OPERATIONS.

  Expenses $830,000 · Grants $830,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

• WOODWARD HINES EDUCATION FOUNDATION

  $830,000

  GENERAL OPERATIONS

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• WOODWARD HINES EDUCATION FOUNDATION

  501(C) 3 · HIGHER EDUCATION SERVICES · MS · controlled entity

  Directly controlled by MHEAC

Provenance

Return type

form_990

Tax year

2023

Filed

7 November 2024

IRS schema version

2023v5.1

Source object

202413129349301316

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