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Nonprofiteer
← PARTNERSHIP FOUNDATION INC

Form 990 for tax year 2022

Filed by PARTNERSHIP FOUNDATION INC.

Totals

Total revenue
$54,796
Total expenses
$766,601
Contributions and grants received
$49,497
Grants paid
$744,996
Program service revenue
$0
Investment income
$5,299
Other revenue
$0
Total assets, end of year
$2,082,899
Total liabilities, end of year
$744
Net assets or fund balances, end of year
$2,082,155
Program services expenses (Part IX)
$744,996
Management and general expenses
$21,605
Fundraising expenses
$0
Program service expenses (Part III)
$744,996

Program services were 97.2% 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

    $49,497

  • 3 · Investment income

    total $5,299 · excluded $5,299

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $744,996 · program services $744,996

  • 11c · Fees: accounting

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

  • 13 · Office expenses

    total $12,255 · management and general $12,255

  • 24a · Other expenses: MISCELLANOUS

    total $50 · management and general $50

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 $506,592 · end of year $550,035

  • 3 · Pledges and grants receivable

    beginning of year $2,267,398 · end of year $1,531,607

  • 15 · Other assets

    beginning of year $100 · end of year $657

  • 25 · Other liabilities

    beginning of year $517 · end of year $744

  • 27 · Net assets without donor restrictions

    beginning of year $1,267,304 · end of year $1,270,215

  • 28 · Net assets with donor restrictions

    beginning of year $1,506,869 · end of year $811,940

Mission and programs · 2022

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 $744,996 · Grants $744,996

As filed on the 2022 return.

Listed in Part VII

  • Chad Newell

    SECRETARY

    Total calculated
    $356,613
    From this org
    $0
    From related orgs
    $335,895
    Other
    $20,718
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $250,895 related
    Bonus
    $0 + $85,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $20,718 related
    Filer's total
    $0 + $356,613 related

  • Rob Tatum

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Jeff Bowman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Chad Driskell

    CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Roman Galey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Hoppy Cole

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Abb Payne

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Brandon Hubbard

    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
2022
Filed
23 January 2024
IRS schema version
2022v5.0
Source object
202430239349301223

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