Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $307,195

• 1f · All other contributions, gifts and grants

  $6,631,732

• 3 · Investment income

  total $341,330 · excluded $341,330

• 6a · Gross rents

  real property $1,000

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $1,000

• 6d · Net rental income or loss

  total $1,000 · related or exempt $1,000

• 7a · Gross sales of assets other than inventory

  securities $3,700,869 · other assets $7,500

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

  securities $3,693,408 · other assets $1,917

• 7c · Gain or loss

  securities $7,461 · other assets $5,583

• 7d · Net gain or loss

  total $13,044 · excluded $13,044

• 8a · Fundraising events: gross income

  $0

• 8a · Fundraising events: contributions included on line 1c

  $307,195

• 8b · Fundraising events: direct expenses

  $120,928

• 8c · Net income from fundraising events

  total -$120,928 · excluded -$120,928

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,590,400 · program services $2,590,400

• 2 · Grants to domestic individuals

  total $1,775,804 · program services $1,775,804

• 7 · Other salaries and wages

  total $411,290 · management and general $107,540 · fundraising $303,750

• 11b · Fees: legal

  total $408,741 · program services $6,265 · management and general $402,476

• 11c · Fees: accounting

  total $17,000 · management and general $17,000

• 11f · Fees: investment management

  total $47,700 · program services $47,700

• 11g · Fees: other

  total $174,926 · program services $173,776 · management and general $1,150

• 12 · Advertising and promotion

  total $4,360 · program services $4,360

• 13 · Office expenses

  total $168,800 · program services $158,332 · management and general $10,468

• 14 · Information technology

  total $202,876 · program services $202,876

• 16 · Occupancy

  total $65,393 · program services $6,141 · management and general $59,252

• 17 · Travel

  total $484,574 · program services $479,410 · management and general $5,164

• 19 · Conferences, conventions and meetings

  total $709 · program services $249 · management and general $460

• 20 · Interest

  total $62,668 · program services $64,376 · management and general -$1,708

• 22 · Depreciation, depletion and amortization

  total $47,969 · management and general $47,969

• 23 · Insurance

  total $34,320 · program services $4,210 · management and general $30,110

• 24a · Other expenses: TEAM EXPENSES

  total $262,029 · program services $262,029

• 24b · Other expenses: DONOR RELATIONS

  total $161,618 · program services $158,689 · management and general $2,929

• 24c · Other expenses: REPAIRS & MAINTENANCE

  total $146,943 · program services $122,240 · management and general $24,703

• 24d · Other expenses: PROVISION FOR UNCOLLECT

  total $96,922 · program services $65,360 · management and general $31,562

• 24e · All other expenses

  total $139,988 · program services $132,258 · management and general $7,730

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,371,770 · end of year $1,915,018

• 2 · Savings and temporary cash investments

  beginning of year $36,508 · end of year $37,185

• 3 · Pledges and grants receivable

  beginning of year $4,573,273 · end of year $5,074,927

• 7 · Other notes and loans receivable

  beginning of year $255,684 · end of year $268,071

• 10a · Land, buildings and equipment: cost or other basis

  $758,615

• 10b · Land, buildings and equipment: accumulated depreciation

  $111,537

• 10c · Land, buildings and equipment, net

  beginning of year $604,875 · end of year $647,078

• 11 · Investments: publicly traded securities

  beginning of year $7,856,428 · end of year $8,613,414

• 15 · Other assets

  beginning of year $0 · end of year $829,931

• 17 · Accounts payable and accrued expenses

  beginning of year $644,180 · end of year $401,180

• 23 · Secured mortgages and notes payable

  beginning of year $2,546,426 · end of year $1,789,874

• 27 · Net assets without donor restrictions

  beginning of year $443,449 · end of year $2,117,774

• 28 · Net assets with donor restrictions

  beginning of year $13,064,483 · end of year $13,076,796

The filer's explanations (Part III)

PART I, LINE 1A

SOCIAL CLUB DUES ARE PAID BY THE RELATED ORGANIZATION (UNIVERSITY OF SOUTHERN MISSISSIPPI) FOR THE BENEFIT OF THE CEO.

PART I, LINE 1B

THE FOLLOWING METHODS ARE USED BY A RELATED ORGANIZATION (UNIVERSITY OF SOUTHERN MISSISSIPPI) TO ESTABLISH EXECUTIVE COMPENSATION FOR THE ATHLETIC FOUNDATION: - COMPENSATION COMMITTEE - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE