UNIVERSITY OF SOUTHERN MISSISSIPPI RESEARCH FOUNDATION

EIN: 640902475 501(c)(3) Education

HATTIESBURG, MS

Total Revenue
$500,537
Total Expenses
$1,067,071
Total Assets
$1,590,033
Net Assets
$1,336,945
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
MS
Principal Officer
DR KELLY LUCAS
Phone
6012665116
Tax Period
2024-01-01 to 2024-12-31

UNIVERSITY OF SOUTHERN MISSISSIPPI RESEARCH FOUNDATION, founded in 1999, is a small nonprofit in the Education sector that reported $501K in total revenue in fiscal year 2024. Revenue fell 48% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 113% operating deficit.

Mission

THE MISSION OF THE FOUNDATION IS TO OVERSEE THE ACQUISITION OF GIFTS, CONTRIBUTIONS AND GRANTS FOR SPONSORED RESEARCH FOR INDIVIDUALS, INDUSTRIES, PRIVATE ORGANIZATIONS AND GOVERNMENT AGENCIES AND TO ASSIST WITH TRANSFERRING TECHNOLOGY DEVELOPED THROUGH THE FOUNDATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $102,982
Program Service Revenue $350,533
Investment Income $3,239
Other Revenue $43,783
TOTAL REVENUE $500,537

Expense Breakdown

Grants Paid $5,950
Salaries & Benefits $102,982
Fundraising Expenses $0
Program Expenses $833,613
Other Expenses $958,139
TOTAL EXPENSES $1,067,071

Year-over-Year Comparison

2024 2023 Change
Revenue $500,537 $957,360 -0.5%
Expenses $1,067,071 $1,201,521 -0.1%
Net Income $-566,534 $-244,161 +1.3%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
N/A

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
2
$0
Total Directors
8
$0
Key Employees
1
$299,776
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHNNY ATHERTON PRESIDENT 2.00
Officer Director
$0 $0 $0
JAMIE MILLER VICE PRESIDENT 2.00
Director
$0 $0 $0
JOHN FITZPATRICK MD BOARD MEMBER 2.00
Director
$0 $0 $0
FREDERICK E SOCK SECRETARY/TREASURER 2.00
Officer Director
$0 $0 $0
CARLETTA BARNES EKUNWE BOARD MEMBER 2.00
Director
$0 $0 $0
DR GORDON CANNON BOARD MEMBER 2.00
Director
$0 $0 $0
DR J KENT NEWMAN BOARD MEMBER 2.00
Director
$0 $0 $0
CHAD DRISKELL EX-OFFICIO 0.00
Director
$0 $0 $0
DR KELLY LUCAS EXECUTIVE DIRECTOR 2.00
Key Emp
$0 $0 $299,776
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 $500,537 $1,067,071 $1,590,033 $-566,534
2023 $957,360 $1,201,521 $2,164,801 $-244,161
2022 $1,475,014 $1,340,156 $2,535,963 $134,858
2022 $1,793,715 $1,352,471 $2,577,991 $441,244
2021 $810,695 $650,372 $2,189,424 $160,323
2021 $786,993 $614,335 $2,203,827 $172,658
2021 $786,993 $614,335 $2,178,826 $172,658
2020 $343,574 $386,481 $1,637,576 $-42,907
2019 $525,768 $628,175 $1,721,790 $-102,407
2019 $532,106 $502,754 $1,790,742 $29,352
2018 $726,287 $706,646 $2,055,704 $19,641
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