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← PARTNERSHIP FOUNDATION INC

Form 990 for tax year 2024

Filed by PARTNERSHIP FOUNDATION INC.

Totals

Total revenue
$4,714,428
Total expenses
$892,583
Contributions and grants received
$4,707,833
Grants paid
$745,000
Program service revenue
$0
Investment income
$6,595
Other revenue
$0
Total assets, end of year
$5,038,434
Total liabilities, end of year
$624
Net assets or fund balances, end of year
$5,037,810
Program services expenses (Part IX)
$745,000
Management and general expenses
$21,782
Fundraising expenses
$125,801
Program service expenses (Part III)
$745,000

Program services were 83.5% 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.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $4,707,833

  • 3 · Investment income

    total $6,595 · excluded $6,595

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $745,000 · program services $745,000

  • 11c · Fees: accounting

    total $9,300 · management and general $9,300

  • 13 · Office expenses

    total $10,329 · management and general $10,329

  • 24a · Other expenses: OTHER FUNDRAISING EXPEN

    total $125,801 · fundraising $125,801

  • 24b · Other expenses: MISCELLANOUS

    total $2,153 · management and general $2,153

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $600 · end of year $600

  • 2 · Savings and temporary cash investments

    beginning of year $417,436 · end of year $409,495

  • 3 · Pledges and grants receivable

    beginning of year $939,201 · end of year $4,626,873

  • 15 · Other assets

    beginning of year $3,480 · end of year $1,466

  • 17 · Accounts payable and accrued expenses

    end of year $624

  • 25 · Other liabilities

    beginning of year $17 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,138,014 · end of year $1,531,475

  • 28 · Net assets with donor restrictions

    beginning of year $222,686 · end of year $3,506,335

Mission and programs · 2024

Mission

TO PROMOTE AND SUPPORT ECONOMIC WELLNESS AND QUALITY OF LIFE FOR GREATER HATTIESBURG AREA

  • TO PROMOTE AND SUPPORT ECONOMIC WELLNESS AND QUALITY OF LIFE FOR GREATER HATTIESBURG AREA

    Expenses $745,000 · Grants $745,000

As filed on the 2024 return.

Listed in Part VII

  • Chad Newell

    SECRETARY

    Total calculated
    $368,903
    From this org
    $0
    From related orgs
    $347,650
    Other
    $21,253
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $260,250 related
    Bonus
    $0 + $87,400 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $21,253 related
    Filer's total
    $0 + $368,903 related

  • Grant Walker

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Jeff Bowman

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Shea McNease

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Hoppy Cole

    CHAIR

    Total calculated
    $0
    Hours/week
    0

  • John Griffith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Kevin Brewer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • John Johnson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

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

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
PRESIDENT OF THE RELATED ORGANIZATION IS COMPENSATED BASED ON A WRITTEN EMPLOYMENT CONTRACT THAT IS APPROVED BY THE BOARD OF DIRECTORS.
PART I, LINE 4B
CHAD NEWELL- $35,000- DEFERRED COMPENSATION

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
23 January 2026
IRS schema version
2024v5.5
Source object
202640239349300819

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