Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,581,831

• 1f · All other contributions, gifts and grants

  $153,551,022

• 1g · Noncash contributions included above

  $16,429,717

• 3 · Investment income

  total $5,844,212 · unrelated business -$1,810,049 · excluded $7,654,261

• 6a · Gross rents

  real property $1,021,301

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $1,021,301

• 6d · Net rental income or loss

  total $1,021,301 · excluded $1,021,301

• 7a · Gross sales of assets other than inventory

  securities $14,190,393 · other assets $13,086,158

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

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $14,190,393 · other assets $13,086,158

• 7d · Net gain or loss

  total $27,276,551 · excluded $27,276,551

• 11a · Other revenue: SERVICES

  total $2,313,690 · excluded $2,313,690

• 11b · Other revenue: FEE REVENUE

  total $819,374 · excluded $819,374

• 11c · Other revenue: UNIT SUPPORT

  total $625,000 · excluded $625,000

• 11d · All other revenue

  total $1,232,414 · excluded $1,232,414

• 11e · Other revenue, total

  $4,990,478

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $50,049,893 · program services $50,049,893

• 5 · Compensation of officers, directors and key employees

  total $983,703 · management and general $490,567 · fundraising $493,136

• 7 · Other salaries and wages

  total $4,855,787 · management and general $2,560,111 · fundraising $2,295,676

• 9 · Other employee benefits

  total $970,093 · management and general $346,742 · fundraising $623,351

• 10 · Payroll taxes

  total $77,402 · management and general $77,402

• 11b · Fees: legal

  total $390,101 · management and general $390,101

• 11c · Fees: accounting

  total $200,626 · management and general $200,626

• 11f · Fees: investment management

  total $1,733,741 · management and general $1,733,741

• 11g · Fees: other

  total $699,716 · management and general $661,239 · fundraising $38,477

• 12 · Advertising and promotion

  total $325 · fundraising $325

• 13 · Office expenses

  total $1,154,683 · management and general $560,930 · fundraising $593,753

• 14 · Information technology

  total $650,216 · management and general $646,906 · fundraising $3,310

• 16 · Occupancy

  total $1,070 · management and general $1,070

• 17 · Travel

  total $471,385 · management and general $221,348 · fundraising $250,037

• 20 · Interest

  total $67,513 · management and general $67,513

• 22 · Depreciation, depletion and amortization

  total $811,729 · management and general $811,729

• 24a · Other expenses: TRANSFERS

  total $323,932 · management and general $115,089 · fundraising $208,843

• 24b · Other expenses: DUES AND SUBSCRIPTIONS

  total $212,868 · management and general $76,115 · fundraising $136,753

• 24c · Other expenses: PROPERTY EXPENSES

  total $134,938 · management and general $134,938

• 24d · Other expenses: MEALS AND ENTERTAINMENT

  total $105,722 · management and general $6,128 · fundraising $99,594

• 24e · All other expenses

  total $287,408 · management and general $216,586 · fundraising $70,822

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $10,369,357 · end of year $13,646,311

• 3 · Pledges and grants receivable

  beginning of year $44,085,232 · end of year $143,299,975

• 4 · Accounts receivable

  beginning of year $304,081 · end of year $1,579,299

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

  $62,502,042

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

  $4,851,284

• 10c · Land, buildings and equipment, net

  beginning of year $44,271,464 · end of year $57,650,758

• 12 · Investments: other securities

  beginning of year $607,829,236 · end of year $664,260,892

• 17 · Accounts payable and accrued expenses

  beginning of year $2,077,172 · end of year $2,623,343

• 19 · Deferred revenue

  beginning of year $2,123,947 · end of year $2,178,455

• 23 · Secured mortgages and notes payable

  beginning of year $2,667,133 · end of year $2,383,405

• 25 · Other liabilities

  beginning of year $17,209,016 · end of year $19,017,876

• 27 · Net assets without donor restrictions

  beginning of year $58,072,588 · end of year $73,848,874

• 28 · Net assets with donor restrictions

  beginning of year $624,709,514 · end of year $780,385,282

The filer's explanations (Part III)

SCHEDULE J, PART I

THE ORGANIZATION HAS AN INCENTIVE COMPENSATION PROGRAM WHEREBY AN INDIVIDUAL IS PAID A PERCENTAGE OF THEIR SALARY AS INCENTIVE COMPENSATION WHEN CERTAIN BENCHMARKS SET BY THE ORGANIZATION ARE MET. THE INCENTIVE COMPENSATION IS GROSSED UP FOR TAXES SO THAT THE INDIVIDUAL RECEIVES A PERCENTAGE OF THEIR SALARY AFTER TAXES.

SCHEDULE J, PART I, LINE 7

BONUS AND INCENTIVE COMPENSATION IS BASED ON ACHIEVEMENT OF CERTAIN TARGETS, QUALITY INDICATORS, AND NON-FINANCIAL METRICS.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• MAROON AIR LLC

  INVESTMENT · MS · income $1,616,613 · assets $3,459,010

  Directly controlled by MSUF

• 109 MULDROW PROPERTIES LLC

  INVESTMENT · MS · income $0 · assets $3,850,000

  Directly controlled by MSUF

• DG SOUTH LLC

  INVESTMENT · MS · income $0 · assets $2,110,000

  Directly controlled by MSUF

• WEST SIDE FUND I LLC

  INVESTMENT · MS · income $1,237,104 · assets $18,230,659

  Directly controlled by MSUF

• WEST SIDE FUND II LLC

  INVESTMENT · MS · income $2,195,325 · assets $21,967,195

  Directly controlled by WSF INC

• WEST SIDE FUND III LLC

  INVESTMENT · MS · income $1,231,426 · assets $9,031,831

  Directly controlled by WSF INC

• WEST SIDE FUND IV LLC

  INVESTMENT · MS · income $1,095,846 · assets $7,909,731

  Directly controlled by WSF INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• MS STATE INVESTMENT POOL

  EXCLUDED · INVESTMENTS · MS · 92.32% owned · share of income $24,044,433 · share of assets $529,958,219 · general or managing partner

  Directly controlled by MSUF

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• WEST SIDE FUNDS INC

  C · INVESTMENT · MS · 100% owned · share of income $4,522,856 · share of assets $38,964,418 · controlled entity

  Directly controlled by MSUF

• CHARITABLE REMAINDER TRUSTS (20)

  T · CHARITABLE TRUST · MS