MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION (EIN 64-0642776)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-12
- IRS object ID
- 202523169349305692
- Schema version
- 2024v5.1
- 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 | 2025-11-12T13:27:43+00:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 440160260 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Forvis Mazars LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 3667 | AddressLine1Txt |
| City | Little Rock | CityNm |
| State Abbreviation | AR | StateAbbreviationCd |
| ZIP | 722033667 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | 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 CORPORATION | BusinessNameLine1Txt |
| 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 | 39296 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | William F Alvis | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 6013215556 | PhoneNum |
| Signature | 2025-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Amber Sherrill | PreparerPersonNm |
| PTIN | P00748683 | PTIN |
| Phone | 5013721040 | PhoneNum |
| Preparation | 2025-11-12 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | William F Alvis | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 5008 | AddressLine1Txt |
| City | Jackson | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39296 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $8,626,790 | GrossReceiptsAmt |
| Group Return For Affiliates | false | 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 4,972 CLIENTS WERE SERVED IN 2024. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 1 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $3,759,850 | PYContributionsGrantsAmt |
| CY Contributions Grants | $3,185,522 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $5,401,650 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,791,497 | CYProgramServiceRevenueAmt |
| PY Investment Income | $619,841 | PYInvestmentIncomeAmt |
| CY Investment Income | $649,771 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $9,781,341 | PYTotalRevenueAmt |
| CY Total Revenue | $8,626,790 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $830,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $822,000 | CYGrantsAndSimilarPaidAmt |
| 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 | $8,179,973 | PYOtherExpensesAmt |
| CY Other Expenses | $6,940,746 | CYOtherExpensesAmt |
| PY Total Expenses | $9,009,973 | PYTotalExpensesAmt |
| CY Total Expenses | $7,762,746 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $771,368 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $864,044 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $117,087,253 | TotalAssetsBOYAmt |
| Total Assets EOY | $98,577,498 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $83,282,653 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $63,908,854 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $33,804,600 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $34,668,644 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Secondary Market for Student Loans, Approximately 4,972 clients were served in 2024. 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 in the state of Mississippi through its three college planning centers. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $6,757,909 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $4,791,497 | 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 REFINANCE 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 | $822,000 | ExpenseAmt |
| Grant | $822,000 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | FUNDS CONTRIBUTED TO WOODWARD HINES EDUCATION FOUNDATION FOR ITS GENERAL OPERATIONS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $7,579,909 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Policies Reference Chapters | false | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Written Policy Or Procedure | false | WrittenPolicyOrProcedureInd |
| 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 | 2616 Lakeward Dr | AddressLine1Txt |
| City | Jackson | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39216 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| Debra McGee | |||||||
| Board Member/Board Vice Chair | 1.0 | 1.0 | Yes (X) | Yes (X) | $0 | $6,900 | $0 |
| Nathan Slater | |||||||
| Board Member/Board Chair | 1.0 | 2.0 | Yes (X) | Yes (X) | $0 | $10,800 | $0 |
| Andrew Mullins | |||||||
| Board Member Through 5/28/24 | 1.0 | 1.0 | Yes (X) | $0 | $2,700 | $0 | |
| Camille Young | |||||||
| Board Member | 1.0 | 1.0 | Yes (X) | $0 | $2,400 | $0 | |
| Carla Kirkland | |||||||
| Board Member Beg 5/28/24 | 1.0 | 1.0 | Yes (X) | $0 | $3,900 | $0 | |
| Cedric Bradley | |||||||
| Board Member | 1.0 | 1.0 | Yes (X) | $0 | $6,900 | $0 | |
| David Martin | |||||||
| Board Member | 1.0 | 1.0 | Yes (X) | $0 | $6,300 | $0 | |
| Eddie Carlisle | |||||||
| Board Member Through 5/28/24 | 1.0 | 1.0 | Yes (X) | $0 | $1,500 | $0 | |
| Errick Simmons | |||||||
| Board Member Beg 5/28/24 | 1.0 | 1.0 | Yes (X) | $0 | $4,200 | $0 | |
| Haley Fisackerly | |||||||
| Board Member | 1.0 | 1.0 | Yes (X) | $0 | $1,500 | $0 | |
| John Hill | |||||||
| Board Member | 1.0 | 1.0 | Yes (X) | $0 | $7,800 | $0 | |
| Michael Cormack | |||||||
| Board Member | 1.0 | 1.0 | Yes (X) | $0 | $5,700 | $0 | |
| Mike Highfield | |||||||
| Board Member Beg 5/28/24 | 1.0 | 1.0 | Yes (X) | $0 | $3,000 | $0 | |
| Robert Leard | |||||||
| Board Member | 1.0 | 1.0 | Yes (X) | $0 | $7,200 | $0 | |
| James McHale | |||||||
| President/CEO | 1.0 | 40.0 | Yes (X) | $0 | $293,500 | $70,527 | |
| Minette Ketchings | |||||||
| COO/Secretary | 1.0 | 40.0 | Yes (X) | $0 | $166,764 | $31,849 | |
| William Alvis | |||||||
| CFO/Treasurer | 1.0 | 40.0 | Yes (X) | $0 | $205,906 | $54,666 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $736,970 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $157,042 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NAVIENT SOLUTIONS INC | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 8003 | AddressLine1Txt |
| City | FISHERS | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46038 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | SERVICING FEES | ServicesDesc |
| Compensation | $248,771 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $3,185,522 | GovernmentGrantsAmt |
| Total Contributions | $3,185,522 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| STUDENT LOAN INTEREST | 522294 | $4,719,993 | $4,719,993 |
| LATE FEES | 522294 | $71,504 | $71,504 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,791,497 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $649,771 | TotalRevenueColumnAmt |
| Exclusion | $649,771 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,626,790 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,791,497 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $649,771 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $822,000 | TotalAmt |
| Program Services | $822,000 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,095,107 | TotalAmt |
| Program Services | $5,095,107 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $280,565 | TotalAmt |
| Program Services | $280,565 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| CONSOLIDATION REBATE | $779,851 | $779,851 | |
| ADMINISTRATION & LOAN FEES | $664,885 | $482,048 | $182,837 |
| BAD DEBT | $62,693 | $62,693 | |
| BOND FEES | $57,645 | $57,645 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,762,746 | TotalAmt |
| Program Services | $7,579,909 | ProgramServicesAmt |
| Management And General | $182,837 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,834 | BOYAmt |
| EOY | $10,249 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,528,253 | BOYAmt |
| EOY | $2,598,016 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $110,030,513 | BOYAmt |
| EOY | $92,190,967 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $223,239 | BOYAmt |
| EOY | $4,958 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $0 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $0 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,294,414 | BOYAmt |
| EOY | $3,773,308 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $117,087,253 | BOYAmt |
| EOY | $98,577,498 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $191,653 | BOYAmt |
| EOY | $147,010 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,091,000 | BOYAmt |
| EOY | $63,761,844 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,282,653 | BOYAmt |
| EOY | $63,908,854 | 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 | $33,804,600 | BOYAmt |
| EOY | $34,668,644 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,804,600 | BOYAmt |
| EOY | $34,668,644 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $117,087,253 | BOYAmt |
| EOY | $98,577,498 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $864,044 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | 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 | $590,678 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $564,680 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $689,594 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,759,850 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,185,522 | CurrentTaxYearAmt |
| Total | $8,790,324 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $7,757,430 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,010,123 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,282,569 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,401,650 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,791,497 | CurrentTaxYearAmt |
| Total | $31,243,269 | TotalAmt |
Gross Receipts Non Unrlt Bus GrossReceiptsNonUnrltBusGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Tax Rev Levied Orgnztnl Bnft509 TaxRevLeviedOrgnztnlBnft509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Govt Furn Srvc Fclts Vl509 GovtFurnSrvcFcltsVl509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $8,348,108 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,574,803 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,972,163 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $9,161,500 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,977,019 | CurrentTaxYearAmt |
| Total | $40,033,593 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $40,033,593 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $165,095 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $111,559 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $275,163 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $619,841 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $649,771 | CurrentTaxYearAmt |
| Total | $1,821,429 | TotalAmt |
Post1975 UBTI Post1975UBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $165,095 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $111,559 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $275,163 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $619,841 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $649,771 | CurrentTaxYearAmt |
| Total | $1,821,429 | TotalAmt |
Net Income From Other UBI NetIncomeFromOtherUBIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $8,513,203 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,686,362 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $7,247,326 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $9,781,341 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $8,626,790 | CurrentTaxYearAmt |
| Total | $41,855,022 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.95648 | PublicSupportCY509Pct |
| Public Support PY509 | 0.9655 | PublicSupportPY509Pct |
| Investment Income CY | 0.04 | InvestmentIncomeCYPct |
| Investment Income PY | 0.0345 | 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 Rev Etc Audited Fincl Stmt | $6,993,823 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $6,993,823 | RevenueSubtotalAmt |
| Other Revenues Not Included | $1,632,967 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $1,632,967 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $8,626,790 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $6,129,779 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $6,129,779 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $1,632,967 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,632,967 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $7,762,746 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part X, Line 2 | MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. |
| Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements | INTEREST INCOME/EXPENSE DIFFERENCE FROM AUDIT - 644635 EXPENSES INCLUDED IN REVENUE ON AUDIT REPORT - 988332 |
| Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements | INTEREST INCOME/EXPENSE DIFFERENCE FROM AUDIT - 644635 EXPENSES INCLUDED IN REVENUE ON AUDIT REPORT - 988332 |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | 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 | 39296 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 640860939 | RecipientEIN |
| IRC Section | 501 (c)(3) | IRCSectionDesc |
| Cash Grant | $822,000 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Valuation Method Used | N/A | ValuationMethodUsedDesc |
| Non Cash Assistance | N/A | NonCashAssistanceDesc |
| Purpose Of Grant | General Operations | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds | FormAndLineReferenceDesc |
| Explanation | management of Woodward Hines Education foundation provides monthly financial reports to the Corporation's Board of Directors. In addition, management provides status updates of its activities to the Corporation's Board at its Board Meetings held 5 times a year. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | 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 McHale | ||||||||||||||
| President/CEO | $0 | $292,708 | $0 | $0 | $0 | $792 | $0 | $65,927 | $0 | $4,600 | $0 | $364,027 | $0 | $0 |
| William Alvis | ||||||||||||||
| CFO/Treasurer | $0 | $205,114 | $0 | $0 | $0 | $792 | $0 | $26,129 | $0 | $28,537 | $0 | $260,572 | $0 | $0 |
| Minette Ketchings | ||||||||||||||
| COO/Secretary | $0 | $165,972 | $0 | $0 | $0 | $792 | $0 | $20,204 | $0 | $11,645 | $0 | $198,613 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 3 | WOODWARD HINES EDUCATION FOUNDATION, A RELATED ENTITY, ESTABLISHED THE COMPENSATION OF THE CEO THROUGH AN INDEPENDENT COMPENSATION CONSULTANT, A COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD. |
| Schedule J, Part I, Line 4b SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN | JAMES MCHALE PARTICIPATES IN THE 457(F) PLAN AND IS THE SOLE PARTICIPANT. HE RECEIVED CONTRIBUTIONS OF $30,500 IN 2024. HE WILL NOT BE VESTED IN THE PLAN UNTIL JANUARY 31, 2029. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Line 15 A & B | The process of determining compensation is managed by a related organization, Woodward Hines Education Foundation. Currently the Corporation has no employees. THE RELATED ORGANIZATION'S EXECUTIVE COMMITTEE ASSUMES THE RESPONSIBILITY FOR DETERMINING FAIR AND COMPETITIVE COMPENSATION FOR THE ORGANIZATION'S OFFICERS AND EMPLOYEES. THE BOARD OF DIRECTORS APPROVES THE COMPENSATION OF THE ORGANIZATION'S OFFICERS AND EMPLOYEES. AN INDEPENDENT CONSULTING FIRM WAS PAID TO PERFORM A COMPENSATION STUDY FOR ALL POSITIONS IN 2022 TO DETERMINE SALARIES FOR 2023-2025. THIS WILL BE REPEATED EVERY THREE TO FOUR YEARS. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | The CFO and COO review the document after completion. Once the final draft is received, the document is loaded to an online board portal for the CEO and board of directors review. |
| Form 990, Part VI, Line 12c Conflict of interest policy | COI forms are completed annually by officers and directors and employees of the related organization. the Corporate Secretary reviews the forms as does the CEO. the CEO and Corporate Secretary monitor business dealings throughout the year for potential conflicts. Actual conflicts of interest are reported to either the Corporate Secretary, the chair of the Audit Committee or general counsel. Individuals with potential or actual conflicts are prohibited from participating in deliberations and decisions in the transaction. |
| Form 990, Part VI, Line 19 Required documents available to the public | Governing documents, conflict of interest policy and financial statements are available to the public upon request |
| Form 990, Part XII, Line 2c Organization Committee Oversight of Audit | The Corporation 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 | 39296 | 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 | Type I | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Mississippi Higher Education Assistance Corporation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (true) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Woodward Hines Education Foundation | ||
| B | $822,000 | Fair Market Value |
| Woodward Hines Education Foundation | ||
| M | $398,353 | Fair Market Value |