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Nonprofiteer
← ROBERT M HEARIN SUPPORT FOUNDATION

Form 990 for tax year 2022

Filed by ROBERT M HEARIN SUPPORT FOUNDATION.

Totals

Total revenue
$17,066,877
Total expenses
$14,145,988
Contributions and grants received
$0
Grants paid
$13,085,407
Program service revenue
$0
Investment income
$17,066,727
Other revenue
$150
Total assets, end of year
$205,626,247
Total liabilities, end of year
$24,431
Net assets or fund balances, end of year
$205,601,816
Program services expenses (Part IX)
$13,306,511
Management and general expenses
$839,477
Fundraising expenses
$0
Program service expenses (Part III)
$13,306,511

Program services were 94.1% 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.

  • 3 · Investment income

    total $10,552,865 · related or exempt $10,552,865

  • 7a · Gross sales of assets other than inventory

    securities $32,605,133 · other assets $1,136,498

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

    securities $27,227,769

  • 7c · Gain or loss

    securities $5,377,364 · other assets $1,136,498

  • 7d · Net gain or loss

    total $6,513,862 · related or exempt $6,513,862

  • 11a · Other revenue: OIL INCOME

    total $150 · related or exempt $150

  • 11e · Other revenue, total

    $150

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,085,407 · program services $13,085,407

  • 5 · Compensation of officers, directors and key employees

    total $142,000 · program services $71,000 · management and general $71,000

  • 10 · Payroll taxes

    total $1,683 · program services $841 · management and general $842

  • 11b · Fees: legal

    total $33,485 · program services $3,349 · management and general $30,136

  • 11c · Fees: accounting

    total $29,999 · program services $15,000 · management and general $14,999

  • 11f · Fees: investment management

    total $594,344 · management and general $594,344

  • 16 · Occupancy

    total $6,576 · program services $3,288 · management and general $3,288

  • 22 · Depreciation, depletion and amortization

    total $618 · program services $309 · management and general $309

  • 23 · Insurance

    total $2,759 · program services $2,759

  • 24a · Other expenses: CONSULTING

    total $239,568 · program services $119,784 · management and general $119,784

  • 24b · Other expenses: BANK CHARGES

    total $7,509 · program services $3,754 · management and general $3,755

  • 24c · Other expenses: SUPPLIES

    total $1,348 · program services $674 · management and general $674

  • 24d · Other expenses: POSTAGE

    total $676 · program services $338 · management and general $338

  • 24e · All other expenses

    total $16 · program services $8 · management and general $8

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $158,145 · end of year $615,046

  • 2 · Savings and temporary cash investments

    beginning of year $2,389,926 · end of year $2,778

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

    $51,916

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

    $4,649

  • 10c · Land, buildings and equipment, net

    end of year $47,267

  • 11 · Investments: publicly traded securities

    beginning of year $55,465,437 · end of year $55,465,437

  • 12 · Investments: other securities

    beginning of year $144,667,419 · end of year $149,495,719

  • 17 · Accounts payable and accrued expenses

    end of year $24,431

  • 27 · Net assets without donor restrictions

    beginning of year $202,680,927 · end of year $205,601,816

Mission and programs · 2022

Mission

TO PROVIDE SUPPORT THROUGH GRANTS TO SPECIFIED EDUCATIONAL INSTITUTIONS AND PUBLIC CHARITIES.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $6,565,250 · Grants $6,565,250

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $3,587,948 · Grants $3,587,948

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $835,000 · Grants $835,000

  • TO MAKE GRANTS TO SPECIFIED EDUCATIONAL INSTITUTIONS AND PUBLIC CHARITIES.

    Expenses $2,318,313 · Grants $2,097,209

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Mr Steve Hendrix

    TRUSTEE

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Mr Matthew L Holleman

    TRUSTEE

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Mr Ee Laird Jr

    TRUSTEE

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Mr Alan W Perry

    TRUSTEE

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Mr Robert M Hearin Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Ms Laurie Hearin McRee

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

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

  • UNIV OF MS

    $6,565,250

    EDU & SCHOLARSHIPS

  • MS STATE UNIV

    $3,587,948

    EDUCATION

  • MS MUSEUM OF ART

    $835,000

    EXHIBITS & EDUCATION

  • DELTA STATE UNIVERSITY

    $634,020

    SCHOLARSHIPS

  • MILLSAPS COLLEGE

    $451,689

    EDUCATION

  • BLUE MOUNTAIN COLLEGE

    $300,000

    SCHOLARSHIPS

  • UNIV OF SOUTHERN MS

    $275,000

    EDUCATION

  • MS UNIV FOR WOMEN

    $110,000

    EDUCATION

  • MS COLLEGE

    $75,000

    EDUCATION

  • MS SYMPHONY ORCHESTRA

    $60,500

    EDUCATION

The 10 largest by cash amount. The API serves every itemized grant.

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
26 April 2024
IRS schema version
2022v5.0
Source object
202411229349301326

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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