2025-11-13T10:23:59+00:00 2024-12-31 440160260 Forvis Mazars LLP PO Box 3667 Little Rock AR 722033667 990 2024-01-01 640860939 WOODWARD HINES EDUCATION FOUNDATION WOOD 6013215555 PO Box 5008 Jackson MS 392965008 William F Alvis CFO 6013215556 2025-11-13 true true Amber Sherrill P00748683 5013721040 2025-11-13 2024 2025-03-06 01:10:19Z William F Alvis PO Box 5008 Jackson MS 392965008 28699052 false X www.woodwardhines.org X 1995 MS TO HELP MISSISSIPPIANS OBTAIN POSTSECONDARY CREDENTIALS, COLLEGE CERTIFICATES, AND DEGREES THAT LEAD TO MEANINGFUL EMPLOYMENT. 12 12 33 1 985238 118311 1853363 2241680 481986 404417 389679 2226915 0 985238 2725028 5858250 1187967 1376110 0 0 2910169 3468300 0 0 0 3732496 3939649 7830632 8784059 -5105604 -2925809 213624016 225111352 2571260 2433195 211052756 222678157 To expand equitable access to and completion of postsecondary credentials, certificates, and degrees that lead to meaningful employment for more Mississippians. The organization does this by providing college planning and access services to Mississippians and managing Mississippi Higher Education Assistance Corporation, a non-profit holder of FFELP Loans. false false 5169228 0 6064 PROVIDING SERVICES TO STUDENTS AND PARENTS INCLUDING SCHOLARSHIPS, COLLEGE ACCESS AND FINANCIAL AID COUNSELING, AND MENTORING STUDENTS IN MISSISSIPPI. 1376110 1376110 0 GRANTS TO NONPROFIT ORGANIZATIONS PROVIDING SERVICES AND ASSISTANCE TO STUDENTS. 182837 0 398353 PROVIDING MANAGEMENT SERVICES TO MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION 6728175 true true false false false false false false false false true true false false true false false true false false true false false false false false false true false true false false false false false false false false false false false false false false false true false false false false true 42 0 true 33 true true true false false false false false false false false false false false X 12 12 false false false false false false false true true false false false true true true true true true true true false false X William F Alvis 6013215555 2616 Lakeward Drive Jackson MS 39216 Debra McGee Board Member/Board Vice Chair 1.0 1.0 X X 6900 0 0 Nathan Slater Board Member/Board Chair 2.0 1.0 X X 10800 0 0 Andrew Mullins Board Member Through 5/28/24 1.0 1.0 X 2700 0 0 Camille Young Board Member 1.0 1.0 X 2400 0 0 Carla Kirkland Board Member Beg 5/28/24 1.0 1.0 X 3900 0 0 Cedric Bradley Board Member 1.0 1.0 X 6900 0 0 David Martin Board Member 1.0 1.0 X 6300 0 0 Eddie Carlisle Board Member Through 5/28/24 1.0 1.0 X 1500 0 0 Errick Simmons Board Member Beg 5/28/24 1.0 1.0 X 4200 0 0 Haley Fisackerly Board Member 1.0 1.0 X 1500 0 0 John Hill Board Member 1.0 1.0 X 7800 0 0 Michael Cormack Board Member 1.0 1.0 X 5700 0 0 Mike Highfield Board Member Beg 5/28/24 1.0 1.0 X 3000 0 0 Robert Leard Board Member 1.0 1.0 X 7200 0 0 James McHale President/CEO 40.0 1.0 X 293500 0 70527 Minette Ketchings COO/Secretary 40.0 1.0 X 166764 0 31849 William Alvis CFO/Treasurer 40.0 1.0 X 205906 0 54666 Morgan Miller Director of Communications, 40.0 0 X 102709 0 28330 Shanell Watson Chief of Staff 40.0 0 X 119399 0 32672 959078 0 218044 5 false true false Cambridge Associates 115 Federal Street Boston MA 02110 Investment Management 577342 Admit Hub Inc 38 Chauncy street Boston MA 02111 Web Platform Services 267000 Fund Evaluation Group 201 East Fifth Street Cincinnati OH 45202 Investment Management 154679 Business Communications Inc PO Box 678360 Dallas TX 75267 IT Services 127753 Higher Ed Insight 8115 Old Dominion Dr McLean VA 22102 Evaluation Services 125000 7 822000 1419680 2241680 MANAGEMENT FEES FROM MHAEC 541990 398353 398353 OTHER PROGRAM SERVICE REVENUE 611710 6064 6064 0 0 0 0 404417 1473068 1473068 0 0 23594649 22840802 753847 0 753847 753847 0 UBI from K-1s 900099 985238 985238 0 0 0 0 985238 5858250 404417 985238 2226915 1376110 1376110 894011 409694 484317 1835703 1579528 256175 279210 240246 38964 278537 239667 38870 180839 155603 25236 9560 8226 1334 110058 94699 15359 787473 787473 535216 460526 74690 0 157419 135451 21968 608930 523953 84977 551561 474590 76971 388160 333992 54168 208566 179460 29106 63918 54998 8920 73957 63636 10321 163668 140828 22840 PROGRAM EXPENSES 107786 107786 TRAINING AND DEVELOPMENT 87809 75555 12254 TAXES & PENALTIES 78173 67264 10909 7395 6363 1032 0 8784059 6728175 2055884 0 3029428 0 5311105 13479025 96469 891208 0 0 0 0 0 0 0 0 0 0 0 182188 889970 651097 152889 238873 28115328 34838260 174143160 173909872 0 0 2775637 1571926 213624016 225111352 575719 672539 0 157805 251014 0 0 0 0 0 0 1837736 1509642 2571260 2433195 X 211052756 222678157 0 0 211052756 222678157 213624016 225111352 X -2925809 15536448 -985238 X false true true false X X X 1 MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION 640642776 9 true 0 7818911 1 0 7818911 true false false false false true false false false false false false false false false true false Schedule A, Part I, Line 12g(vi) WOODWARD HINES EDUCATION FOUNDATION PROVIDES MANAGEMENT SERVICES TO MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION. Schedule A, Part IV, Section A, Line 6 Support to other supported orgs THE ORGANIZATION PROVIDES SUPPORT TO OTHER 501(C)(3) AND GOVERNMENT ORGANIZATIONS. THESE DONATIONS ARE TO SUPPORT AND FURTHER DEVELOP EDUCATION IN MISSISSIPPI. THESE DONATIONS ARE IN LINE WITH THE PURPOSE AND CLASS OF THE SUPPORTED ORGANIZATION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 60385 45335 15050 770475 546652 223823 59110 59110 0 238873 Closely-held equity interests Financial derivatives AKO European Long Only Fund 4274800 F Arrowstreet EAFE Alpha Extension Fund 6087185 F Aspex Global Fund 3066887 F BioPharma Credit Investments V 5771 F City of London Inv Mgmt Co Emerging Mkts CEF 2699143 F Crown Global VI 283380 F D.E. Shaw U.S. Broad Market Core Alpha Fund B 13649325 F Davidson Kempner Institutional Partners, LP 2292761 F Dorsal Capital Partners Ltd 2583856 F FEG Private Opportunity Fund II 38659478 F FEG Private Opportunity Fund III 24046419 F FEG Private Opportunity Fund IV 17356157 F GQG Partners Global Equity Fund 5592954 F Green Court Greater China Long-Only Equity Fund F Hudson Bay International Fund 3078776 F ISAM Systematic Trend SPV Limited 2418925 F ITE Rail Feeder Fund 2063763 F Janchor Partners Pan-Asian Fund 3200443 F JMI Equity Fund XI-B 453090 F Kline Hill Partners IV 3584853 F Kline Hill Partners V 1078591 F Matrix Capital Management Fund (Offshore) 2414342 F Obvious Prime II 197762 F Obvious Ventures IV 358563 F Overlook Partners 1249023 F Palmer Square Income Plus Fund 5138243 F Palmer Square Multi-Asset Credit Offshore Fund 2098967 F Parametric Global Defensive Equity Fund, LLC 1295324 F Pillar Juniperus Insurance Opportunity Fund Ltd 2593696 F Renaissance Inst Divers Global Equities Onshore F Regions 457(F) Investment 163624 F Samlyn Offshore, Ltd 3362839 F Two Sigma China Core Equity Cayman Fund 1249011 F Vulcan Value Partners All Cap Fund 5998018 F Wellington Global Research Equity Extended 11252768 F Unsettled Trades Receivable 61135 F 173909872 Federal Income Taxes LEASE LIABILITY 1509642 1509642 19621987 15536448 0 15536448 4085539 1772711 1772711 5858250 7996586 0 0 7996586 787473 787473 8784059 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 INCOME TAX POSITIONS TO BE REPORTED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements INVESTMENT FEES - 787473 K-1 Book to Tax Difference - 985238 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements INVESTMENT FEES - 787473 Central America and the Caribbean 0 0 Investments N/A 29386514 North America (Canada & Mexico only) 0 0 Investments N/A 2593696 Europe (Including Iceland and Greenland) 0 0 Investments N/A 7257323 0 0 0 0 0 0 39237533 0 39237533 true false false true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual true Children's Foundation of Mississippi 3000 Old Canton Rd Jackson MS 39216 831998379 501(c)(3) 49971 0 N/A N/A To help determine needed supports for youth eligible to participate in the FAITH ACT scholarship program The Parent's Campaign 222 N President St Jackson MS 39201 463673467 501(c)(3) 50000 0 N/A N/A To ensure a P-12 system that prepares Mississippi children to exit secondary school with the skills needed to thrive in college and/or career Mississippi Alliance of Nonprofits and Philanthropy 2600 Lakeland Terrace Jackson MS 39216 582025957 501(c)(3) 50000 0 N/A N/A To support the general operations of the Alliance as it serves the needs of the philanthropic sector in the state of Mississippi Mississippi Council on Economic Education 1701 N State St Jackson MS 39210 820563444 501(c)(3) 25000 0 N/A N/A To provide participant incentives to education professionals completing the Master Teacher of College and Career Readiness training MS Institutions of Higher Learning Complete 2 Compete 3825 Ridgewood Road Jackson MS 39212 646000783 115 41363 0 N/A N/A To assist Mississippi adult learners with some college in earning post-secondary credentials that enhance employment opportunities, resulting in family-sustaining wage careers. Mississippi State University Foundation PO Box 6149 Mississippi State MS 39762 640410581 501(c)(3) 50000 0 N/A N/A To provide personnel support for diversity programming, recruiting and retention Community Foundation for Mississippi 119 South President Street 1st Floor Jackson MS 39201 640845750 501(c)(3) 11500 0 N/A N/A To build organizational capacity of local non-profit offering college access services Jackson Medical Mall Foundation 350 West Woodrow Wilson Avenue Jackson MS 39213 640865274 501(c)(3) 30000 0 N/A N/A To improve student success related college/career readiness and access Propel Education Forum of Mississippi Inc 248 E Capital Street Jackson MS 39201 570897061 501(c)(3) 250000 0 N/A N/A To identify a Mississippi-based organization to coordinate the work needed for the State to reach the Ascent to 55% statewide attainment goal Coahoma Community College 3240 Friars Point Road Clarksdale MS 38614 640437624 115 133774 0 N/A N/A To support student success through professional development and data fluency Itawamba Community College Foundation Inc 602 West Hill Street Fulton MS 38843 640579426 501(c)(3) 80000 0 N/A N/A To increase retention and persistence efforts for African American males at Belden, Tupelo and Fulton campuses Community Foundation of Northwest Mississippi (CFNM) on behalf of Global Te aching Project 110 Commerce Loop Forest MS 39074 943421724 501(c)(3) 170200 0 N/A N/A To expand access to rigorous STEM coursework, which is not currently available in rural, low-income schools, and raise student achievement throughout the state of Mississippi, particularly the Delta MB Swayze Educational Foundation PO Box 23276 Jackson MS 39225 640602140 501(c)(3) 50000 0 N/A N/A To develop on-going work for creating education opportunities for Mississippians NCAN National #DoTheFAFSA Social Media Campaign 800 17th St NW Washington DC 20006 311793562 501(c)(3) 50000 0 N/A N/A To increase the number of students completing the FAFSA 14 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds Woodward Hines Education Foundation has written guidelines stating criteria for making grants and uses a grant program checklist to ensure that the process approved by the board of directors is followed and appropriate approvals are documented. Woodward Hines also requires periodic reporting by grantees. X X X false true false false false false false false false James McHale President/CEO 292708 0 0 0 792 0 65927 0 4600 0 364027 0 0 0 William Alvis CFO/Treasurer 205114 0 0 0 792 0 26129 0 28537 0 260572 0 0 0 Minette Ketchings COO/Secretary 165972 0 0 0 792 0 20204 0 11645 0 198613 0 0 0 Shanell Watson Chief of Staff 119235 0 0 0 164 0 15120 0 17552 0 152071 0 0 0 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. Form 990, Part VI, Line 15 A&B THE 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 1a Delegate broad authority to a committee THE INVESTMENT COMMITTEE HAS OVERALL RESPONSIBILITY FOR THE OPERATION AND ADMINISTRATION OF THE INVESTMENTS OF WOODWARD HINES EDUCATION FOUNDATION (WHEF). THE WORK OF THE COMMITTEE CONSISTS OF INVESTMENT DUTIES AND ADMINISTRATIVE DUTIES. THE COMMITTEE IS COMPRISED OF ROBERT LEARD, DR. MIKE HIGHFIELD, CATE ROBINSON, AND NEAL GRAZIANO. NEAL GRAZIANO, MANAGING DIRECTOR OF PRIVATE INVESTMENTS FOR THE WK KELLOGG FOUNDATION, IS AN ADVISORY MEMBER ONLY AND DOES NOT HAVE VOTING PRIVILEGES. ALL COMMITTEE MEETINGS ARE DOCUMENTED BY MINUTES APPROVED BY THE FULL BOARD. Form 990, Part VI, Line 11b Review of form 990 by governing body The CFO and COO review the form before the final draft is completed. Once the final draft is received, it is provided to the CEO and Board members for review prior to filing. Form 990, Part VI, Line 12c Conflict of interest policy When a potential or actual conflict is discovered the policy requires it to be reported to general counsel or the Corporate Secretary. The Corporate Secretary in consultation with general Counsel will determine if a conflict exists. Any Board member or staff member with a potential or actual conflict is prohibited from making decisions or voting on actions involving the conflict. Form 990, Part VI, Line 19 Required documents available to the public Upon request Form 990, Part XI, Line 9 Other changes in net assets or fund balances K-1 Book to Tax Difference - -985238; Total - -985238; Mississippi Higher Education Assistance Corporation PO Box 5008 Jackson MS 39296 640642776 Higher Education Assistance MS 501(c)(3) 10 NA false false false true false false false false false false false false true false false false false false false false