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Nonprofiteer
← WOODWARD HINES EDUCATION FOUNDATION

Form 990 for tax year 2023

Filed by WOODWARD HINES EDUCATION FOUNDATION.

Totals

Total revenue
$2,725,028
Total expenses
$7,830,632
Contributions and grants received
$1,853,363
Grants paid
$1,187,967
Program service revenue
$481,986
Investment income
$389,679
Other revenue
$0
Total assets, end of year
$213,624,016
Total liabilities, end of year
$2,571,260
Net assets or fund balances, end of year
$211,052,756
Program services expenses (Part IX)
$6,001,772
Management and general expenses
$1,828,860
Fundraising expenses
$0
Program service expenses (Part III)
$6,001,772

Program services were 76.6% 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.

  • 1d · Related organizations

    $830,000

  • 1f · All other contributions, gifts and grants

    $1,023,363

  • 2a · Program service revenue: OPERATIONAL FEES

    total $471,967 · related or exempt $471,967

  • 2b · Program service revenue: COST/EXPENSE REIMBURSEMENT AND PR

    total $10,019 · related or exempt $10,019

  • 3 · Investment income

    total $1,133,727 · excluded $1,133,727

  • 7a · Gross sales of assets other than inventory

    securities $4,765,083

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

    securities $5,509,131

  • 7c · Gain or loss

    securities -$744,048

  • 7d · Net gain or loss

    total -$744,048 · excluded -$744,048

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,187,967 · program services $1,187,967

  • 5 · Compensation of officers, directors and key employees

    total $802,132 · program services $372,597 · management and general $429,535

  • 7 · Other salaries and wages

    total $1,651,294 · program services $1,641,670 · management and general $9,624

  • 8 · Pension plan contributions

    total $82,256 · program services $81,004 · management and general $1,252

  • 9 · Other employee benefits

    total $209,393 · program services $184,253 · management and general $25,140

  • 10 · Payroll taxes

    total $165,094 · program services $137,095 · management and general $27,999

  • 11b · Fees: legal

    total $26,484 · program services $1,360 · management and general $25,124

  • 11c · Fees: accounting

    total $98,500 · program services $39,400 · management and general $59,100

  • 11f · Fees: investment management

    total $745,461 · management and general $745,461

  • 11g · Fees: other

    total $604,641 · program services $404,176 · management and general $200,465

  • 12 · Advertising and promotion

    total $42,561 · program services $40,311 · management and general $2,250

  • 13 · Office expenses

    total $94,276 · program services $88,958 · management and general $5,318

  • 14 · Information technology

    total $633,797 · program services $559,699 · management and general $74,098

  • 16 · Occupancy

    total $367,241 · program services $336,922 · management and general $30,319

  • 17 · Travel

    total $179,870 · program services $176,431 · management and general $3,439

  • 19 · Conferences, conventions and meetings

    total $124,501 · program services $121,991 · management and general $2,510

  • 22 · Depreciation, depletion and amortization

    total $55,013 · program services $52,304 · management and general $2,709

  • 23 · Insurance

    total $176,803 · program services $115,639 · management and general $61,164

  • 24a · Other expenses: PROGRAM EXPENSE

    total $123,597 · program services $123,597

  • 24b · Other expenses: PUBLICATIONS & RESOURCE

    total $93,127 · program services $83,427 · management and general $9,700

  • 24c · Other expenses: DUES/SUBSCRIPTIONS

    total $71,468 · program services $59,547 · management and general $11,921

  • 24d · Other expenses: MAINTENANCE

    total $38,921 · program services $37,378 · management and general $1,543

  • 24e · All other expenses

    total $256,235 · program services $156,046 · management and general $100,189

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,315,117 · end of year $3,029,428

  • 2 · Savings and temporary cash investments

    beginning of year $7,736,735 · end of year $5,311,105

  • 3 · Pledges and grants receivable

    beginning of year $54,296 · end of year $96,469

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

    $797,704

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

    $644,815

  • 10c · Land, buildings and equipment, net

    beginning of year $157,123 · end of year $152,889

  • 11 · Investments: publicly traded securities

    beginning of year $25,446,426 · end of year $28,115,328

  • 12 · Investments: other securities

    beginning of year $162,979,668 · end of year $174,143,160

  • 15 · Other assets

    beginning of year $2,727,290 · end of year $2,775,637

  • 17 · Accounts payable and accrued expenses

    beginning of year $737,234 · end of year $575,719

  • 19 · Deferred revenue

    beginning of year $117,598 · end of year $157,805

  • 25 · Other liabilities

    beginning of year $2,014,127 · end of year $1,837,736

  • 27 · Net assets without donor restrictions

    beginning of year $199,547,696 · end of year $211,052,756

Mission and programs · 2023

Mission

TO HELP MISSISSIPPIANS OBTAIN POSTSECONDARY CREDENTIALS, COLLEGE CERTIFICATES, AND DEGREES THAT LEAD TO MEANINGFUL EMPLOYMENT.

Activities or mission (Part I)

PROVIDING SERVICES TO STUDENTS AND PARENTS INCLUDING COLLEGE ACCESS AND FINANCIAL AID COUNSELING, AND MENTORING STUDENTS IN MISSISSIPPI AND PROVIDING MANAGEMENT SERVICE TO MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION (A NOT-FOR-PROFIT SECONDARY MARKET CORPORATION).

  • PROVIDING SERVICES TO STUDENTS AND PARENTS INCLUDING SCHOLARSHIPS, COLLEGE ACCESS AND FINANCIAL AID COUNSELING, AND MENTORING STUDENTS IN MISSISSIPPI.

    Expenses $4,583,879 · Revenue $10,019

  • GRANTS TO NONPROFIT ORGANIZATIONS PROVIDING SERVICES AND ASSISTANCE TO STUDENTS.

    Expenses $1,187,967 · Grants $1,187,967

  • PROVIDING MANAGEMENT SERVICES TO MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION

    Expenses $229,926 · Revenue $471,967

As filed on the 2023 return.

Listed in Part VII

  • Edward Carlisle

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • Michael Cormack Jr

    DIRECTOR

    Total calculated
    $5,400
    From this org
    $5,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • Haley Fisackerly

    DIRECTOR

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • Robert Leard

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • David Martin

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • Debra McGee

    BOARD VICE-CHAIR

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • Andrew Mullins

    DIRECTOR

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • Camille Young

    DIRECTOR

    Total calculated
    $5,400
    From this org
    $5,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • John F Hill

    DIRECTOR

    Total calculated
    $8,150
    From this org
    $8,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 1 related

  • Nathan Slater

    BOARD CHAIR

    Total calculated
    $8,950
    From this org
    $8,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 1 related

  • Cedric Bradley

    DIRECTOR, BEGIN 5/2023

    Total calculated
    $3,900
    From this org
    $3,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • James E McHale

    PRESIDENT/CEO

    Total calculated
    $300,191
    From this org
    $282,701
    From related orgs
    $0
    Other
    $17,490
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $282,701
    Bonus
    $0
    Other
    $0
    Deferred
    $17,032
    Nontaxable benefits
    $1,681
    Filer's total
    $301,414

  • William F Alvis

    CFO/TREASURER

    Total calculated
    $222,017
    From this org
    $197,670
    From related orgs
    $0
    Other
    $24,347
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $197,670
    Bonus
    $0
    Other
    $0
    Deferred
    $12,442
    Nontaxable benefits
    $13,128
    Filer's total
    $223,240

  • Minette D Ketchings

    DIRECTOR OF OPERATIONS/CON

    Total calculated
    $174,533
    From this org
    $156,659
    From related orgs
    $0
    Other
    $17,874
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $156,659
    Bonus
    $0
    Other
    $0
    Deferred
    $9,621
    Nontaxable benefits
    $9,476
    Filer's total
    $175,756

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

  • 2 · Substantiation required before reimbursing expenses
  • 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

  • MISSISSIPPI PUBLIC SCHOOL CONSORTIUM FOR EDUCATIONAL ACCESS

    $208,330

    TO EXPAND ACCESS TO RIGOROUS STEM COURSEWORK, WHICH IS NOT CURRENTLYAVAILABLE IN RURAL, LOW-INCOME SCHOOLS, AND RAISE STUDENT ACHIEVEMENTTHROUGHOUT THE STATE OF MISSISSIPPI, PARTICULARLY THE DELTA.

  • COAHOMA COMMUNITY COLLEGE

    $145,887

    SUPPORT OF STUDENT SUCCESS

  • UNIVERSITY OF MISSISSIPPI

    $108,795

    TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.

  • UNIVERSITY OF SOUTHERN MISSISSIPPI

    $100,000

    TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.

  • JACKSON STATE UNIVERSITY

    $94,545

    TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.

  • MISSISSIPPI UNIVERSITY FOR WOMEN

    $88,941

    TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.

  • DELTA STATE UNIVERSITY

    $73,603

    TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.

  • MISSISSIPPI VALLEY STATE UNIVERSITY

    $70,000

    TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.

  • ITAWAMBA CC FOUNDATION

    $60,003

    TO INCREASE RETENTION AND PERSISTENCE EORTS FOR AFRICAN AMERICAN MALES AT BELDEN, TUPELO AND FULTON CAMPUSES

  • MISSISSIPPI STATE UNIVERSITY

    $50,725

    TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.

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
15 November 2024
IRS schema version
2023v5.1
Source object
202423189349308872

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

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