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Nonprofiteer
← MARION MILITARY INSTITUTE FOUNDATION INC

Form 990 for tax year 2024

Filed by MARION MILITARY INSTITUTE FOUNDATION INC.

Totals

Total revenue
$1,043,529
Total expenses
$3,372,847
Contributions and grants received
$495,517
Grants paid
$3,085,578
Program service revenue
$0
Investment income
$380,665
Other revenue
$167,347
Total assets, end of year
$48,944,573
Total liabilities, end of year
$393,738
Net assets or fund balances, end of year
$48,550,835
Program services expenses (Part IX)
$3,289,615
Management and general expenses
$24,174
Fundraising expenses
$59,058
Program service expenses (Part III)
$3,289,615

Program services were 97.5% 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

    $495,517

  • 3 · Investment income

    total $380,665 · excluded $380,665

  • 8a · Fundraising events: gross income

    $167,347

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $167,347 · excluded $167,347

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,085,578 · program services $3,085,578

  • 7 · Other salaries and wages

    total $90,000 · program services $90,000

  • 11g · Fees: other

    total $13,715 · management and general $13,715

  • 14 · Information technology

    total $89,875 · program services $89,875

  • 17 · Travel

    total $456 · fundraising $456

  • 23 · Insurance

    total $10,459 · management and general $10,459

  • 24a · Other expenses: Dues and subscriptions

    total $31,446 · fundraising $31,446

  • 24b · Other expenses: Supplies

    total $14,289 · program services $14,289

  • 24c · Other expenses: Special events and fund

    total $13,598 · fundraising $13,598

  • 24d · Other expenses: Postage and shipping

    total $13,014 · program services $1,382 · fundraising $11,632

  • 24e · All other expenses

    total $10,417 · program services $8,491 · fundraising $1,926

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $103,688 · end of year $109,671

  • 4 · Accounts receivable

    end of year $84

  • 11 · Investments: publicly traded securities

    beginning of year $14,680,023 · end of year $14,951,043

  • 15 · Other assets

    beginning of year $32,258,933 · end of year $33,883,775

  • 19 · Deferred revenue

    beginning of year $48,323 · end of year $71,810

  • 21 · Escrow or custodial account liability

    beginning of year $272,047 · end of year $321,928

  • 27 · Net assets without donor restrictions

    beginning of year $5,061,878 · end of year $4,258,552

  • 28 · Net assets with donor restrictions

    beginning of year $41,660,396 · end of year $44,292,283

Mission and programs · 2024

Mission

The purpose of the Foundation is to establish endowments and other forms of support to benefit scholarships, capital improvements, public relations, recruitment and the good name of Marion Military Institute.

Activities or mission (Part I)

The organization provides support for Marion Military Institute.

  • Support for Marion Military Institute.

    Expenses $3,289,615 · Grants $3,085,578

As filed on the 2024 return.

Listed in Part VII

  • Donald Bennett

    Board member

    Total calculated
    $0
    Hours/week
    1

  • BG Vandiver H Carter USAR Ret

    Board member

    Total calculated
    $0
    Hours/week
    1

  • James Davidson

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Robert B Geddie Jr

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Samuel P Givhan

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Logan Gray

    Board member

    Total calculated
    $0
    Hours/week
    1

  • MG W Shane Lee MD USAR

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Eugene McCollum

    Board member

    Total calculated
    $0
    Hours/week
    1

  • COL Angelo Tony Riddick USA

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Leslie Sanders

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Jerry F Smith

    Board member

    Total calculated
    $0
    Hours/week
    1

  • John G Zierdt Jr

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Norman D Pittman III

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • James Rane

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • WF Noopie Cosby Jr

    Vice Chairman

    Total calculated
    $0
    Hours/week
    1

  • Edward A O'Neal Jr

    Chairman

    Total calculated
    $0
    Hours/week
    2

  • Suzanne Mckee

    Executive Director

    Total calculated
    $0
    Hours/week
    40

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
2024
Filed
27 January 2026
IRS schema version
2024v5.5
Source object
202620279349301322

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