Overview
What is University Of Southern Mississippi Foundation?
The University of Southern Mississippi Foundation is a nonprofit organization based in Hattiesburg, Mississippi, located at 118 College Drive 5210, ZIP code 39406. Its primary mission is to establish relationships with alumni and friends to secure private funds for the advantage of the University of Southern Mississippi (USM). In this fiscal year, the foundation has provided 2,430 scholarships worth $5.5 million and managed various grants and transfers, promoting academic excellence, student success, and innovation and discovery at USM. The foundation receives, invests, and dispenses private gifts in support of USM's mission.
Official website here: www.usmfoundation.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
The University of Southern Mississippi Foundation has achieved a perfect score of 100% from Charity Navigator, indicating exceptional standards in accountability and finance. This rating reflects robust governance practices, including a fully independent board and comprehensive financial oversight, ensuring the foundation operates with transparency and integrity.
Strengths highlighted in the evaluation include a strong commitment to program expenses, with over 83% of funds directed towards its mission. The foundation also demonstrates remarkable financial health, showcased by a low liability-to-assets ratio and an impressive working capital ratio of 13.21 years, indicating its ability to sustain operations effectively.
While the foundation has received high marks across all assessed areas, the data does not highlight any significant limitations. Overall, the University of Southern Mississippi Foundation stands out as a model nonprofit, effectively managing resources for its educational initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is University Of Southern Mississippi Foundation legitimate?
University Of Southern Mississippi Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Of Southern Mississippi Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $7,440
Other Salaries and Wages: $37,751
For more financial information, click here
Official website here: www.usmfoundation.com
What is the mission statement of University Of Southern Mississippi Foundation?
The University of Southern Mississippi Foundation works to foster relationships with alumni and friends to secure private funds and resources for the benefit of the University of Southern Mississippi (USM). The foundation's primary role is to receive, invest, and distribute these gifts, supporting USM's mission. In the present fiscal year, the foundation has provided over 2,400 scholarships worth $5.5 million and handled various other grants and transfers, all aimed at promoting academic excellence, student success, and innovation and discovery at USM.
Official website here: www.usmfoundation.com
What is the revenue of University Of Southern Mississippi Foundation?
University Of Southern Mississippi Foundation's revenue in 2024 was $26,790,188.
Official website here: www.usmfoundation.com
Who are the executives of University Of Southern Mississippi Foundation and what are their salaries?
There 75 volunteers at University Of Southern Mississippi Foundation.
Here are 33 key members and their salaries:
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Official website here: www.usmfoundation.com
Where can I find the form 990 for University Of Southern Mississippi Foundation?
University Of Southern Mississippi Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.usmfoundation.com
Learn more at the official website: www.usmfoundation.com
Mission Statement of University Of Southern Mississippi Foundation
University of Southern Mississippi Foundation, or USM Foundation, is a non-profit organization dedicated to forging connections with alumni and friends to procure private resources for the betterment of the University of Southern Mississippi (USM). The foundation acts as a crucial intermediary, receiving, investing, and dispensing private donations to support USM's mission.
In the current fiscal year, the University of Southern Mississippi Foundation has demonstrated its profound impact on the educational institution by granting 2,430 scholarships amounting to $5.5 million. This significant financial contribution enables deserving students to further their academic pursuits at USM. Moreover, the foundation facilitates numerous other grants and transfers that foster academic excellence, student success, and innovation and discovery at the university.
The USM Foundation plays a pivotal role in enhancing the University of Southern Mississippi's capabilities by securing essential private funds. Through its unwavering commitment to supporting USM, the foundation contributes to a thriving academic community that values and nurtures the talent of its students.
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Impact
October, 2024
The University of Southern Mississippi Foundation plays a vital role in enhancing the academic landscape of the University of Southern Mississippi (USM). By fostering connections with alumni and supporters, the Foundation successfully secures private funding that significantly benefits the university community.
In the most recent fiscal year, the Foundation awarded 2,430 scholarships totaling $5.5 million, directly contributing to student success and academic excellence. This financial support is crucial for many students, reducing financial barriers and empowering them to pursue their educational goals.
Additionally, the Foundation processes various grants and transfers that promote innovation and discovery at USM. By investing in programs and initiatives, the Foundation helps create an environment that fosters academic achievement and intellectual growth, ultimately enhancing the overall educational experience at the university.
Through its commitment to building relationships and securing private funds, the Foundation is instrumental in ensuring the continued success and development of the University of Southern Mississippi and its students.
This information is meant to be a general summary of University Of Southern Mississippi Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $3,674,071
- Gross Receipts: $42,017,058
Assets and Liabilities:
- Total Assets: $165,505,905
- Total Liabilities: $890,323
- Net Assets: $164,615,582
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Organization Details
Founding Year
1959
Phone
(601) 266-5210Principal Officer
Stace Mercier
Main Address
118 COLLEGE DRIVE 5210, HATTIESBURG, MS, 39406
Website
www.usmfoundation.comNTEE Category
Code: B110 - Education
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