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Nonprofiteer
← ECM FOUNDATION

Form 990 for tax year 2023

Filed by ECM FOUNDATION.

Totals

Total revenue
$247,715
Total expenses
$139,410
Contributions and grants received
$234,802
Grants paid
$129,225
Program service revenue
$0
Investment income
$51
Other revenue
$12,862
Total assets, end of year
$1,647,837
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,647,837
Program services expenses (Part IX)
$129,225
Management and general expenses
$10,185
Fundraising expenses
$0
Program service expenses (Part III)
$129,225

Program services were 92.7% 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.

  • 1d · Related organizations

    $15,000

  • 1f · All other contributions, gifts and grants

    $219,802

  • 3 · Investment income

    total $43,398 · excluded $43,398

  • 7a · Gross sales of assets other than inventory

    securities $1,884,313

  • 7b · Less cost or other basis and sales expenses

    securities $1,927,660

  • 7c · Gain or loss

    securities -$43,347

  • 7d · Net gain or loss

    total -$43,347 · related or exempt -$43,347

  • 8a · Fundraising events: gross income

    $14,184

  • 8b · Fundraising events: direct expenses

    $1,322

  • 8c · Net income from fundraising events

    total $12,862

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,000 · program services $40,000

  • 2 · Grants to domestic individuals

    total $89,225 · program services $89,225

  • 11c · Fees: accounting

    total $5,903 · management and general $5,903

  • 11f · Fees: investment management

    total $4,107 · management and general $4,107

  • 13 · Office expenses

    total $175 · management and general $175

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $210,580 · end of year $104,269

  • 2 · Savings and temporary cash investments

    beginning of year $208,564 · end of year $241,165

  • 11 · Investments: publicly traded securities

    beginning of year $957,067 · end of year $1,302,403

  • 27 · Net assets without donor restrictions

    beginning of year $1,132,611 · end of year $1,370,303

  • 28 · Net assets with donor restrictions

    beginning of year $243,600 · end of year $277,534

Mission and programs · 2023

Mission

THE FOUNDATION AWARDS SCHOLARSHIPS FOR HIGHER EDUCATION TO CHILDREN OF EMPLOYEES OF MISSISSIPPI'S VARIOUS ELECTRIC COOPERATIVES, CERTAIN PARTICIPANTS IN THE ECM YOUTH TOUR PROGRAM AND TO ELECTRICAL ENGINEERING CANDIDATES LOCATED IN RURAL ELECTRIC SERVICE AREAS IN MISSISSIPPI. IN ADDITION , THE FOUNDATION PROVIDES OTHER ASSISTANCE CONSISTENT WITH ITS EXEMPT PURPOSE.

  • PROVISION OF SCHOLARSHIPS TO CHILDREN OF EMPLOYEES OF MEMBERS OF THE ELECTRIC COOPERATIVES OF MISSISSIPPI (A.A.L.), ELECTRICAL ENGINEERING CANDIDATES IN THE STATE OF MISSISSIPPI LOCATED IN RURAL ELECTRIC SERVICE TERRITORIES, AND TO ELECTRIC COOPERATIVES OF MS (A.A.L.) YOUTH TOUR AWARD WINNERS FOR HIGHER EDUCATION.

    Expenses $73,350 · Grants $73,350

  • DISASTER RELIEF PAYMENTS FOR EMPLOYEES OF MEMBERS OF THE ELECTRIC COOPERATIVES OF MISSISSIPPI.

    Expenses $3,000 · Grants $3,000

  • ASSISTANCE TO FAMILIES OF BURN VICTIMS WHO WORK FOR MUNICIPAL UTILITIES OR ELECTRIC COOPERATIVES IN NORTH MISSISSIPPI.

    Expenses $11,000 · Grants $11,000

  • DONATIONS TO OTHER PUBLIC CHARITIES OPERATING IN THE SERVICE AREAS OF MISSISSIPPI ELECTRIC COOPERATIVES.

    Expenses $41,875 · Grants $41,875

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

Listed in Part VII

  • Michael Callahan

    SEC-TREASURE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Randy Carroll

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Brian Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Robert Dodson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Keith Hayward

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Michael Neely

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Brad Robison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Barry Rowland

    VICE-CHAIRMA

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Randy Smith

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

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.

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
2023
Filed
5 May 2025
IRS schema version
2023v6.0
Source object
202521269349303802

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