METHODIST FOUNDATION OF MISSISSIPPI INC

EIN: 640507167 501(c)(3) Religion

RIDGELAND, MS

Total Revenue
$1,667,660
Total Expenses
$5,636,236
Total Assets
$148,715,980
Net Assets
$50,161,161
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Financial Trends

Organization Details

Formation Year
1967
Legal Domicile
MS
Principal Officer
DR TODD D MARION CPA
Phone
6019488845
Tax Period
2023-01-01 to 2023-12-31

METHODIST FOUNDATION OF MISSISSIPPI INC, founded in 1967, is a community nonprofit in the Religion sector that reported $1.7M in total revenue in fiscal year 2023. Revenue fell 73% from the prior year — a significant decline worth monitoring. Expenses of $5.6M exceeded revenue, resulting in a 238% operating deficit.

Mission

THE FOUNDATION EXISTS TO CULTIVATE AND ADMINISTER CURRENT AND DEFERRED GIFTS FOR THE BENEFIT OF MS UNITED METHODIST RELATED INSTITUTIONS, AGENCIES, LOCAL CHURCHES, AND OTHER MINISTRIES FOR CHARITABLE PURPOSES AND SUPPORT AND TO EDUCATE THESE INSTITUTIONS IN CREATING A CULTURE OF GENEROSITY AND SOUND FINANCIAL PRACTICES.

Program Service Accomplishments

Program 1
Expenses: $197,475

THE METHODIST FOUNDATION OF MISSISSIPPI AWARDED 155 SCHOLARSHIP AWARDS TOTALING $197,475. OF THESE AWARDS $162,475 WAS AWARDED TO UNDERGRADUATE STUDENTS AND $35,000 WAS AWARDED TO SEMINARY STUDENTS...

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THE METHODIST FOUNDATION OF MISSISSIPPI AWARDED 155 SCHOLARSHIP AWARDS TOTALING $197,475. OF THESE AWARDS $162,475 WAS AWARDED TO UNDERGRADUATE STUDENTS AND $35,000 WAS AWARDED TO SEMINARY STUDENTS. AN ADDITIONAL $2,500 WAS AWARDED THROUGH THE GLOBAL BOARD OF HIGHER EDUCATION.

Program 2
Expenses: $1,173,420

THE METHODIST FOUNDATION OF MISSISSIPPI DISTRIBUTED FUNDS TO VARIOUS CHURCHES AND NONPROFITS TO FURTHER THEIR EXEMPT PURPOSE. DURING THE YEAR, THE ENDOWMENTS WERE DISTRIBUTED TOTALING MORE THAN...

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THE METHODIST FOUNDATION OF MISSISSIPPI DISTRIBUTED FUNDS TO VARIOUS CHURCHES AND NONPROFITS TO FURTHER THEIR EXEMPT PURPOSE. DURING THE YEAR, THE ENDOWMENTS WERE DISTRIBUTED TOTALING MORE THAN $150,000 TO VARIOUS CHURCHES AND NONPROFITS TO FURTHER THEIR PURPOSES. THE FOUNDATION ADDED ADDITIONAL FUNDS TO INDIVIDUAL CHURCHES AND CLERGY IN FURTHERANCE OF THEIR EXEMPT PURPOSE AND MISSIONS. THE FOUNDATION ALSO PROVIDED SUPPORT TO THE DENOMINATIONAL CONFERENCE IN FURTHERANCE OF OUR EXEMPT PURPOSE.

Program 3
Expenses: $3,689,118 Revenue: $155,345

THE METHODIST FOUNDATION OF MISSISSIPPI PROVIDED INVESTMENT MANAGEMENT SERVICES FOR CHURCHES AND METHODIST AFFILIATES. THIS INCLUDES INVESTMENT DECISIONS, PURCHASES AND SALES, AS WELL AS, THE...

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THE METHODIST FOUNDATION OF MISSISSIPPI PROVIDED INVESTMENT MANAGEMENT SERVICES FOR CHURCHES AND METHODIST AFFILIATES. THIS INCLUDES INVESTMENT DECISIONS, PURCHASES AND SALES, AS WELL AS, THE COLLECTION OF INVESTMENT INCOME AND ALLOCATION OF RETURNS. THE FOUNDATION PROVIDED GUIDANCE, LEADERSHIP, AND WORKSHOPS FOR CHURCH LEADERS AND COMMITTEES INCLUDING GENEROSITY, CHURCH AND INDIVIDUAL FINANCIAL MANAGEMENT, AND PLANNED GIVING. THE STAFF MET WITH NEARLY 125 GROUPS PROVIDING GUIDANCE, LEADERSHIP, AND WORKSHOPS FOR CHURCH LEADERS AND COMMITTEES. 450 CHURCHES AND NONPROFIT ORGANIZATIONS ARE INVESTED IN THE FOUNDATION WITH 37 NEW ACCOUNTS IN 2023. $24,303,105 IN GIFTS AND DEPOSITS WAS RECEIVED DURING 2023 AND $24,374,940 WAS DISTRIBUTED FOR CHARITABLE PURPOSES.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $703,158
Program Service Revenue $150,629
Investment Income $809,157
Other Revenue $4,716
TOTAL REVENUE $1,667,660

Expense Breakdown

Grants Paid $1,370,895
Salaries & Benefits $557,681
Fundraising Expenses $0
Program Expenses $5,060,013
Other Expenses $3,707,660
TOTAL EXPENSES $5,636,236

Year-over-Year Comparison

2023 2022 Change
Revenue $1,667,660 $6,271,287 -0.7%
Expenses $5,636,236 $2,978,623 +0.9%
Net Income $-3,968,576 $3,292,664 -2.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
26
Independent Members
26
Employees
5
Volunteers
30

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$449,079
Total Directors
26
$121,079
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR ACIE WHITLOCK JR DIRECTOR 1.00
Director
$0 $0 $0
BEN WALTON DIRECTOR 1.00
Director
$0 $0 $0
BILLIE SPRABERRY TREASURER 40.00
Officer Director
$95,152 $25,927 $121,079
CHARLES LEGGETT JR DIRECTOR 1.00
Director
$0 $0 $0
DR JOE N BAILEY III DIRECTOR 1.00
Director
$0 $0 $0
DAN GIBSON DIRECTOR 1.00
Director
$0 $0 $0
DAVID BECKLEY DIRECTOR 1.00
Director
$0 $0 $0
TIM SISK DIRECTOR 1.00
Director
$0 $0 $0
HENRY HOLIFIELD DIRECTOR 1.00
Director
$0 $0 $0
WESLEY PEPPER DIRECTOR 1.00
Director
$0 $0 $0
REV JOE LANDRUM PAST PRESIDENT 1.00
Director
$0 $0 $0
JIM MOSS DIRECTOR 1.00
Director
$0 $0 $0
DR JOHN DAVID ROBINSON DIRECTOR 1.00
Director
$0 $0 $0
REV JOHN MOORE DIRECTOR 1.00
Director
$0 $0 $0
KELLY RILEY DIRECTOR 1.00
Director
$0 $0 $0
LESTER MYERS DIRECTOR 1.00
Director
$0 $0 $0
PAUL DAVIS DIRECTOR 1.00
Director
$0 $0 $0
REV AISLINN KOPP DIRECTOR 1.00
Director
$0 $0 $0
CHRIS BOONE VICE-PRESIDENT 1.00
Officer Director
$0 $0 $0
JAN HITT PRESIDENT 1.00
Officer Director
$0 $0 $0
REV MITCHELL HEDGEPETH DIRECTOR 1.00
Director
$0 $0 $0
DR RON WHITEHEAD DIRECTOR 1.00
Director
$0 $0 $0
REV TIM PRATHER DIRECTOR 1.00
Director
$0 $0 $0
MATT TRUSTY DIRECTOR 1.00
Director
$0 $0 $0
WALKER STURDIVANT DIRECTOR 1.00
Director
$0 $0 $0
REV ZACHARY BEASLEY DIRECTOR 1.00
Director
$0 $0 $0
REV JOHN BRANNING EXECUTIVE DIRECTOR 40.00
Officer
$102,464 $85,695 $188,159
TODD D MARION ASSOCIATE DIRECTOR/CFO 40.00
Officer
$114,565 $25,276 $139,841
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,667,660 $5,636,236 $148,715,980 $-3,968,576
2022 $6,271,287 $2,978,623 $134,579,449 $3,292,664
2021 $-799,975 $2,544,683 $147,699,774 $-3,344,658
2020 $-3,354,925 $2,444,268 $136,557,388 $-5,799,193
2019 $7,003,190 $3,562,742 $119,572,860 $3,440,448
2018 $5,626,555 $3,509,054 $110,230,092 $2,117,501
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