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← LEO W SEAL JR CHARITABLE TR

Form 990 for tax year 2024

Filed by LEO W SEAL JR CHARITABLE TR.

Totals

Total revenue
$1,942,064
Total expenses
$1,353,957
Contributions and grants received
$0
Grants paid
$1,119,337
Program service revenue
$0
Investment income
$1,942,064
Other revenue
$0
Total assets, end of year
$30,463,882
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$30,463,882
Program services expenses (Part IX)
$1,119,337
Management and general expenses
$234,620
Fundraising expenses
$0
Program service expenses (Part III)
$1,119,337

Program services were 82.7% 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 $863,852 · excluded $863,852

  • 7a · Gross sales of assets other than inventory

    securities $18,799,415

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

    securities $17,721,203

  • 7c · Gain or loss

    securities $1,078,212

  • 7d · Net gain or loss

    total $1,078,212 · excluded $1,078,212

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,119,337 · program services $1,119,337

  • 5 · Compensation of officers, directors and key employees

    total $176,501 · management and general $176,501

  • 11c · Fees: accounting

    total $1,050 · management and general $1,050

  • 11f · Fees: investment management

    total $44,775 · management and general $44,775

  • 24e · All other expenses

    total $12,294 · management and general $12,294

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $976,655 · end of year $781,759

  • 11 · Investments: publicly traded securities

    beginning of year $28,888,893 · end of year $29,682,123

  • 29 · Capital stock, trust principal or current funds

    beginning of year $29,865,548 · end of year $30,463,882

Mission and programs · 2024

Mission

THE PURPOSE OF THE LEO W SEAL JR CHARITABLE TRUST IS TO SUPPORT THE MISSISSIPPI STATE UNIVERSITY FOUNDATION. THE MSU FOUNDATION IN TURN IS TO DISTRIBUTE THE MONEY TO THE FOLLOWING DEPARTMENTS:35% TO THE ATHLETIC DEPARTMENT, 25% TO THE COLLEGE OF BUSINESS,12.5% TO THE COLLEGE OF ENGINEERING, 12.5% TO THE COLLEGE OF FOREST RESOURCES, AND 15% UNRESTRICTED USE OF MSU.

  • MISSISSIPPI STATE UNIVERSITY FOUNDATION, 64-0410581. DISTRIBUTIONS WERE MADE TO THE ATHLETIC DEPARTMENT, COLLEGE OF BUSINESS,COLLEGE OF ENGINEERING, COLLEGE OF FOREST RESOURCES,AND UNRESTRICTED USE OF MSU.

    Expenses $1,119,337 · Grants $1,119,337

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ms State Univ - David Easley

    EXECUTIVE DIRECTOR OF FINANCE

    Total calculated
    $0

  • Ms State Univ - John Rush

    VP FOR DEVELOPMENT AND ALUMNI

    Total calculated
    $0

  • Hancock Whitney Bank

    TRUSTEE

    Total calculated
    $176,502
    From this org
    $176,502
    From related orgs
    $0
    Other
    $0

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

Provenance

Return type
form_990
Tax year
2024
Filed
1 May 2025
IRS schema version
2024v5.1
Source object
202521259349301447

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