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Nonprofiteer
← ROBERT M HEARIN SUPPORT FOUNDATION

Form 990 for tax year 2023

Filed by ROBERT M HEARIN SUPPORT FOUNDATION.

Totals

Total revenue
$42,334,992
Total expenses
$14,161,364
Contributions and grants received
$0
Grants paid
$12,342,042
Program service revenue
$0
Investment income
$42,335,199
Other revenue
-$207
Total assets, end of year
$233,774,825
Total liabilities, end of year
-$619
Net assets or fund balances, end of year
$233,775,444
Program services expenses (Part IX)
$12,704,952
Management and general expenses
$1,456,412
Fundraising expenses
$0
Program service expenses (Part III)
$12,704,952

Program services were 89.7% 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.

  • 3 · Investment income

    total $11,211,910 · related or exempt $11,211,910

  • 7a · Gross sales of assets other than inventory

    securities $75,703,998 · other assets $904,401

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

    securities $45,485,110

  • 7c · Gain or loss

    securities $30,218,888 · other assets $904,401

  • 7d · Net gain or loss

    total $31,123,289 · related or exempt $31,123,289

  • 11a · Other revenue: OIL INCOME

    total -$207 · related or exempt -$207

  • 11e · Other revenue, total

    -$207

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,342,042 · program services $12,342,042

  • 5 · Compensation of officers, directors and key employees

    total $337,208 · program services $168,604 · management and general $168,604

  • 10 · Payroll taxes

    total $17,190 · program services $8,595 · management and general $8,595

  • 11b · Fees: legal

    total $23,910 · program services $2,391 · management and general $21,519

  • 11c · Fees: accounting

    total $29,775 · program services $14,888 · management and general $14,887

  • 11f · Fees: investment management

    total $1,077,683 · management and general $1,077,683

  • 13 · Office expenses

    total $11,214 · program services $5,607 · management and general $5,607

  • 16 · Occupancy

    total $78,917 · program services $39,458 · management and general $39,459

  • 22 · Depreciation, depletion and amortization

    total $6,006 · program services $3,003 · management and general $3,003

  • 23 · Insurance

    total $33,405 · program services $18,357 · management and general $15,048

  • 24a · Other expenses: CONSULTING

    total $190,160 · program services $95,080 · management and general $95,080

  • 24b · Other expenses: SUPPLIES

    total $5,617 · program services $2,808 · management and general $2,809

  • 24c · Other expenses: BANK CHARGES

    total $3,016 · program services $1,508 · management and general $1,508

  • 24d · Other expenses: REPAIRS

    total $2,396 · program services $1,198 · management and general $1,198

  • 24e · All other expenses

    total $2,825 · program services $1,413 · management and general $1,412

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $615,046 · end of year $575,382

  • 2 · Savings and temporary cash investments

    beginning of year $2,778 · end of year $124

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

    $59,225

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

    $10,655

  • 10c · Land, buildings and equipment, net

    beginning of year $47,267 · end of year $48,570

  • 11 · Investments: publicly traded securities

    beginning of year $55,465,437 · end of year $51,372,006

  • 12 · Investments: other securities

    beginning of year $149,495,719 · end of year $181,778,743

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,431 · end of year -$619

  • 27 · Net assets without donor restrictions

    beginning of year $205,601,816 · end of year $233,775,444

Mission and programs · 2023

Mission

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

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

    Expenses $6,310,940 · Grants $6,310,940

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

    Expenses $3,450,336 · Grants $3,450,336

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

    Expenses $895,800 · Grants $895,800

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

    Expenses $2,047,876 · Grants $1,684,966

As filed on the 2023 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 Matthew L Holleman

    EXECUTIVE DI

    Total calculated
    $180,000
    From this org
    $180,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    36

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    not reported
    Other
    $30,000
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $180,000

  • Ms Jackie Blackwell

    CHIEF ADMIN

    Total calculated
    $74,708
    From this org
    $74,708
    From related orgs
    $0
    Other
    $0
    Hours/week
    36

  • Mr Steve Hendrix

    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 Ee Laird Jr

    TRUSTEE

    Total calculated
    $22,500
    From this org
    $22,500
    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. 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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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

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

  • UNIV OF MS

    $6,310,940

    EDU & SCHOLARSHIPS

  • MS STATE UNIV

    $3,450,336

    EDUCATION

  • MS MUSEUM OF ART

    $895,800

    EXHIBITS & EDUCATION

  • DELTA STATE UNIVERSITY

    $503,277

    SCHOLARSHIPS

  • UNIV OF SOUTHERN MS

    $394,000

    EDUCATION

  • MILLSAPS COLLEGE

    $216,689

    EDUCATION

  • BLUE MOUNTAIN COLLEGE

    $200,000

    SCHOLARSHIPS

  • MS COLLEGE

    $100,000

    EDUCATION

  • JACKSON STATE UNIV

    $50,000

    EDU & SCHOLARSHIPS

  • MS OPERA

    $36,000

    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
2023
Filed
21 April 2025
IRS schema version
2023v6.0
Source object
202541139349301664

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

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