MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION: Form 990, tax year 2019
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- Organization
- MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION (EIN 64-0642776)
- Tax period
- 2019-01-01 to 2019-12-31
- Filed
- 2020-11-03
- IRS object ID
- 202023089349302217
- Schema version
- 2019v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-11-03T14:23:00-06:00 | ReturnTs |
| Tax Period End | 2019-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 640414329 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HADDOX REID EUBANK BETTS PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 188 EAST CAPITOL STREET STE 500 | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39201 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 640642776 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MISSISSIPPI HIGHER EDUCATION ASSISTANCE | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MISS | BusinessNameControlTxt |
| Phone | 6013215555 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 5008 | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 392965008 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WILLIAM F ALVIS | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 6013215555 | PhoneNum |
| Signature | 2020-11-02 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KATIE HOGGATT CPA | PreparerPersonNm |
| PTIN | P01340185 | PTIN |
| Phone | 6019482924 | PhoneNum |
| Preparation | 2020-11-02 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 173.235.174.18 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-11-02 | IPDt |
| IP Tm | 15:16:15 | IPTm |
| IP Timezone | CS | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | A1ACC1953A1377CA042D90FD84CFF908EDACEC74 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 2C056A1B2BEA6FCD501A09A7587320372DB2E4F7 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | WILLIAM F ALVIS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 5008 | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 392965008 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $10,681,352 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | HTTPS://MHEAC.GET2COLLEGE.ORG/MHEAC.HTML | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1980 | FormationYr |
| Legal Domicile State | MS | LegalDomicileStateCd |
| Activity Or Mission | SECONDARY MARKET FOR STUDENT LOANS, APPROXIMATELY 11,950 CLIENTS WERE SERVED IN 2019. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,684,292 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,786,227 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $9,388,706 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $8,551,690 | CYProgramServiceRevenueAmt |
| PY Investment Income | $314,742 | PYInvestmentIncomeAmt |
| CY Investment Income | $343,435 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $11,387,740 | PYTotalRevenueAmt |
| CY Total Revenue | $10,681,352 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $475,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $10,275,034 | PYOtherExpensesAmt |
| CY Other Expenses | $9,699,866 | CYOtherExpensesAmt |
| PY Total Expenses | $10,275,034 | PYTotalExpensesAmt |
| CY Total Expenses | $10,174,866 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,112,706 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $506,486 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $229,119,476 | TotalAssetsBOYAmt |
| Total Assets EOY | $206,722,918 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $200,520,951 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $177,617,907 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $28,598,525 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $29,105,011 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE CORPORATION MISSION IS TO INCREASE THE LEVEL OF APPROPRIATE QUALITY EDUCATION IN THE STATE OF MISSISSIPPI AND ELSEWHERE. PRIOR TO 2014, THE CORPORATION OPERATED EXCLUSIVELY FOR THE PURPOSE OF ACQUIRING STUDENT LOANS INCURRED UNDER THE HIGHER EDUCATION ACT OF 1965. THE PRIMARY SOURCE OF FUNDS TO ACQUIRE THE STUDENT LOANS WAS THE ISSUANCE OF TAX-EXEMPT BONDS AND TAXABLE NOTES. IN JULY 2014, THE CORPORATION AMENDED ITS ARTICLES OF INCORPORATION EXPANDING ITS EXEMPT PURPOSE AND REFINANCED ITS TAX-EXEMPT BONDS WITH TAXABLE BONDS. THE CORPORATION IS THE PARENT OF WOODWARD HINES EDUCATION FOUNDATION (WHEF) WHICH PROVIDES ADMINISTRATIVE, STAFFING AND MANAGEMENT SERVICES TO THE CORPORATION. IN ADDITION, WHEF PROVIDES COLLEGE PLANNING SERVICES TO STUDENTS AND PARENTS INCLUDING COLLEGE ACCESS AND FINANCIAL AID COUNSELING, AND MENTORING STUDENTS IN MISSISSIPPI THROUGH ITS THREE COLLEGE PLANNING CENTERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $9,297,255 | ExpenseAmt |
| Revenue | $8,551,690 | RevenueAmt |
| Desc | THE CORPORATION SERVICED STUDENT LOANS INCURRED UNDER THE HIGHER EDUCATION ACT OF 1965 AS AMENDED. THE PRIMARY SOURCE OF FUNDS WAS THE ISSUANCE OF TAX-EXEMPT BONDS AND TAXABLE NOTES. IN 2014, THE CORPORATION ISSUED TAXABLE BONDS TO RENFINANCE ITS DEBT AND IS NO LONGER ELIGIBLE TO ISSUE TAX-EXEMPT BONDS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $475,000 | ExpenseAmt |
| Grant | $475,000 | GrantAmt |
| Desc | FUNDS CONTRIBUTED TO WOODWARD HINES EDUCATION FOUNDATION FOR ITS GENERAL OPERATIONS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $9,772,255 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WILLIAM F ALVIS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6013215555 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 5008 | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 392965008 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|
| HALEY FISACKERLY | |||||||
| DIRECTOR | 1.00 | 1.00 | Yes (X) | $0 | $1,750 | $0 | |
| ROBERT LEARD | |||||||
| DIRECTOR | 1.00 | 1.00 | Yes (X) | $0 | $4,500 | $0 | |
| DEBRA MCGEE | |||||||
| DIRECTOR | 1.00 | 1.00 | Yes (X) | $0 | $4,250 | $0 | |
| ANDREW MULLINS | |||||||
| DIRECTOR | 1.00 | 1.00 | Yes (X) | $0 | $4,500 | $0 | |
| W STAN PRATT | |||||||
| DIRECTOR | 1.00 | 1.00 | Yes (X) | $0 | $4,500 | $0 | |
| NATHAN SLATER | |||||||
| DIRECTOR | 1.00 | 1.00 | Yes (X) | $0 | $4,000 | $0 | |
| CAMILLE YOUNG | |||||||
| DIRECTOR | 1.00 | 1.00 | Yes (X) | $0 | $3,250 | $0 | |
| DAVID MARTIN | |||||||
| BOARD CHAIR | 1.00 | 2.00 | Yes (X) | $0 | $7,250 | $0 | Yes (X) |
| JOHN F HILL | |||||||
| BOARD VICE-CHAIR | 1.00 | 1.00 | Yes (X) | $0 | $5,250 | $0 | Yes (X) |
| JAMES E MCHALE | |||||||
| PRESIDENT/CEO | 1.00 | 40.00 | $0 | $246,504 | $15,478 | Yes (X) | |
| WILLIAM F ALVIS | |||||||
| CFO/TREASURER | 1.00 | 40.00 | $0 | $181,319 | $18,555 | Yes (X) | |
| MINETTE D KETCHINGS | |||||||
| DIRECTOR OF OPERATIONS/CON | 1.00 | 40.00 | $0 | $137,444 | $13,749 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $604,517 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $47,782 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| US DEPARTMENT OF EDUCATION | |||||
| PO BOX 4134 | GREENVILLE | TX | 754034134 | REBATE FEES | $1,748,983 |
| WOODWARD HINES EDUCATION FOUNDATION | |||||
| 2600 LAKELAND TERRACE | JACKSON | MS | 39216 | MANAGEMENT FEES | $831,785 |
| NAVIENT SOLUTIONS INC | |||||
| PO BOX 8003 | FISHERS | IN | 46038 | SERVICING FEES | $461,135 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $1,786,227 | GovernmentGrantsAmt |
| Total Contributions | $1,786,227 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| STUDENT LOAN INTEREST | 900099 | $8,441,695 | $8,441,695 |
| LATE FEES | 900099 | $109,995 | $109,995 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $8,551,690 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $343,435 | TotalRevenueColumnAmt |
| Exclusion | $343,435 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,681,352 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $8,551,690 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $343,435 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $475,000 | TotalAmt |
| Program Services | $475,000 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,976,323 | TotalAmt |
| Program Services | $5,976,323 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $561,661 | TotalAmt |
| Program Services | $561,661 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| CONSOLIDATION REBATE | $1,733,853 | $1,733,853 | |
| ADMINISTRATION AND LOAN | $1,320,759 | $918,148 | $402,611 |
| BOND FEES | $62,468 | $62,468 | |
| PROVISION FOR LOAN LOSS | $44,802 | $44,802 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,174,866 | TotalAmt |
| Program Services | $9,772,255 | ProgramServicesAmt |
| Management And General | $402,611 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $181,104 | BOYAmt |
| EOY | $34,291 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,854,726 | BOYAmt |
| EOY | $3,771,027 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $220,308,253 | BOYAmt |
| EOY | $198,240,303 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $999,232 | BOYAmt |
| EOY | $769,087 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,776,161 | BOYAmt |
| EOY | $3,908,210 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $229,119,476 | BOYAmt |
| EOY | $206,722,918 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $316,951 | BOYAmt |
| EOY | $257,907 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $200,204,000 | BOYAmt |
| EOY | $177,360,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $200,520,951 | BOYAmt |
| EOY | $177,617,907 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,598,525 | BOYAmt |
| EOY | $29,105,011 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,598,525 | BOYAmt |
| EOY | $29,105,011 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $229,119,476 | BOYAmt |
| EOY | $206,722,918 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $506,486 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,469,049 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,670,757 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $976,172 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,684,292 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,786,227 | CurrentTaxYearAmt |
| Total | $7,586,497 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $12,907,353 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $11,500,672 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $10,354,050 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $9,388,706 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $8,551,690 | CurrentTaxYearAmt |
| Total | $52,702,471 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $14,376,402 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $13,171,429 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $11,330,222 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $11,072,998 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $10,337,917 | CurrentTaxYearAmt |
| Total | $60,288,968 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $60,288,968 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,648,850 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,176,706 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,324,788 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $314,742 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $343,435 | CurrentTaxYearAmt |
| Total | $7,808,521 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,648,850 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,176,706 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,324,788 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $314,742 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $343,435 | CurrentTaxYearAmt |
| Total | $7,808,521 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $18,025,252 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $15,348,135 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $12,655,010 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $11,387,740 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $10,681,352 | CurrentTaxYearAmt |
| Total | $68,097,489 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.88530 | PublicSupportCY509Pct |
| Public Support PY509 | 0.89210 | PublicSupportPY509Pct |
| Investment Income CY | 0.11470 | InvestmentIncomeCYPct |
| Investment Income PY | 0.10790 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | AUDITED FINANCIAL STATEMENT FOOTNOTE DISCLOSURE REGARDING ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES MHEAC IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE. MHEAC BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOODWARD HINES EDUCATION FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 5008 | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 392965008 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 640860939 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $475,000 | CashGrantAmt |
| Purpose Of Grant | GENERAL OPERATIONS | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE MANAGEMENT OF THE WOODWARD HINES EDUCATION FOUNDATION MONTHLY PROVIDES FINANCIAL REPORTS TO THE BOARD OF DIRECTORS OF THE CORPORATION. IN ADDITION, MANAGEMENT PROVIDES STATUS UPDATES OF ITS ACTIVITY TO THE CORPORATION'S BOARD OF DIRECTORS AT ITS BOARD MEETINGS (5 TIMES A YEAR). | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JAMES E MCHALE | ||||||||||||||
| PRESIDENT/CEO | $0 | $246,504 | $0 | $0 | $0 | $0 | $0 | $14,959 | $0 | $1,655 | $0 | $263,118 | $0 | $0 |
| WILLIAM F ALVIS | ||||||||||||||
| CFO/TREASURER | $0 | $181,319 | $0 | $0 | $0 | $0 | $0 | $11,277 | $0 | $8,359 | $0 | $200,955 | $0 | $0 |
| MINETTE D KETCHINGS | ||||||||||||||
| DIRECTOR OF OPERATIONS/CON | $0 | $137,444 | $0 | $0 | $0 | $0 | $0 | $8,466 | $0 | $6,148 | $0 | $152,058 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | A COPY OF THE TAX RETURN WAS PROVIDED TO THE BOARD BY THE BOARD SECRETARY VIA AN ONLINE BOARD PORTAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION REQUIRES ALL DIRECTORS, OFFICERS AND STAFF TO COMPLETE AN ANNUAL CONFLICT OF INTEREST STATEMENT DISCLOSING ANY RELATIONSHIPS THAT MIGHT POSE A CONFLICT OF INTEREST. THE CORPORATE SECRETARY REVIEWS ALL CONFLICT OF INTEREST STATEMENTS AND REPORTS ANY POTENTIAL CONFLICTS TO THE PRESIDENT AND CEO AND LEGAL COUNSEL IF NEEDED. IF AN ACTUAL CONFLICT OF INTEREST IS DEEMED TO HAVE OCCURRED, APPROPRIATE ACTIONS WILL BE TAKEN TO DETERMINE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST AND IS FAIR AND REASONABLE. INTENTIONAL FAILURE TO DISCLOSE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST OR TO FOLLOW POLICY GUIDELINES, CAN RESULT IN DISCIPLINARY AND CORRECTIVE ACTION. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PROCESS OF DETERMINING COMPENSATION IS MANAGED BY RELATED ORGANIZATION WOODWARD HINES EDUCATION FOUNDATION. CURRENTLY THE ORGANIZATION HAS NO EMPLOYEES. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XII, LINE 2C, ORGANIZATION COMMITTEE OVERSIGHT OF AUDIT: | THE ORGANIZATION MAINTAINS AN AUDIT COMMITTEE WHICH ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOODWARD HINES EDUCATION FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 5008 | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 392965006 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 640860939 | EIN |
| Primary Activities | HIGHER EDUCATION SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | MS | LegalDomicileStateCd |
| Exempt Code Section | 501(C) 3 | ExemptCodeSectionTxt |
| Public Charity Status | 12 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MHEAC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| WOODWARD HINES EDUCATION FOUNDATION | ||
| M | $831,785 | FAIR MARKET VALUE |
| WOODWARD HINES EDUCATION FOUNDATION | ||
| B | $475,000 | FAIR MARKET VALUE |