Mr & Mrs E H Sumners Foundation FY2021 filing

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Net income is distributed 3 times a year to 5 institutions of higher learning. Each institution administers the trust funds through its financial aid office under policy set by the scholarship committee of each institution in making educational grants to students.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $2.6M a year · 32% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.3M
+18% vs prior year
Spent
$5.1M
To programs
84%
Net assets
$72.6M
By yearFY2020–FY2025
Revenue
$8.3M
FY2021▲ +18%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.0M
FY2021$8.3M
FY2022$3.5M
FY2023$6.5M
FY2024$8.8M
FY2025$14.6M
Expenses
$5.1M
FY2021▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.8M
FY2021$5.1M
FY2022$4.0M
FY2023$7.3M
FY2024$5.9M
FY2025$6.1M
Net assets
$72.6M
FY2021▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$69.4M
FY2021$72.6M
FY2022$72.1M
FY2023$71.2M
FY2024$74.1M
FY2025$82.6M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1979.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $4.3M Management & general 16% · $804K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Foundation Mgr.
$0Pt VII · Sec A
See Mr & Mrs E H Sumners Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Distributes net income three times yearly to five colleges for student educational grants.

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Provided by the organization

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1 program · $4.3M · in their own filed words · FY2021
01

All net income is distributed 3 times a year to 5 institutions of higher learning. Each institution administers the trust funds through its financial aid office under policy set by the scholarship committee of each institution in making educational grants to students.

$4.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 30 grants · $28.5M · 2020–2025
Univ of Ms Medical SchoolFY2025$1,038,795
Holmes Community CollegeFY2025$519,398
Millsaps CollegeMS · FY2025$519,398
Univ of Ms Medical SchoolFY2024$1,015,286
Millsaps CollegeMS · FY2024$507,643
Holmes Community CollegeFY2024$507,643
Univ of Ms Medical SchoolFY2023$1,316,199
Millsaps CollegeMS · FY2023$658,100
Holmes Community CollegeFY2023$658,100
Univ of Ms Medical SchoolFY2022$653,787
See all 30 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$8.3M
Ln 12
Investment incomeLn 3$8.4M
Money outPt IX
$5.1M
Ln 25
Programscol B$4.3M
Managementcol C$804K
Owns and owesPt X
$72.6M
net assets · Ln 32
Cash and savingsLn 1–2$870K
Total assetsLn 16$72.6M
LiabilitiesLn 26$0
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$8.4M
Gains on assetsLn 7$6.5M
Total revenueLn 12$8.3M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$870K
Cash and savings togetherLn 1–2$870K
InvestmentsLn 11–13$66.7M
Land, buildings, equipmentLn 10c$5.1M
Other assetsLn 15$0
Total assetsLn 16$72.6M
LiabilitiesLn 26$0
Net assetsLn 32$72.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$999K$870K
InvestmentsLn 11–13$63.3M$66.7M
Land, buildings, equipmentLn 10c$5.1M$5.1M
Total assetsLn 16$69.4M$72.6M
LiabilitiesLn 26$0$0
Net assetsLn 32$69.4M$72.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4.3M$4.3M
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$262K$262K
Accounting feesLn 11c$11K$11K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$531K$531K
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
All other expensesLn 24e$0
Total functional expensesLn 25$5.1M$4.3M$804K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $14.6M$6.1M$8.5M$82.6M 990 PDF
FY2024 $8.8M$5.9M$2.9M$74.1M 990 PDF
FY2023 $6.5M$7.3M−$852K$71.2M 990 PDF
FY2022 $3.5M$4.0M−$525K$72.1M 990 PDF
FY2021 Viewing $8.3M$5.1M$3.2M$72.6M 990 PDF
FY2020 $7.0M$4.8M$2.2M$69.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $8,309,284 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $6,968,822$8,432,006
I-11 Other revenuePrior year $60,656−$122,722
I-12 Total revenuePrior year $7,029,478$8,309,284
I-13 Grants and similar amounts paidPrior year $4,090,449$4,318,087
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $738,523$803,836
I-18 Total expensesPrior year $4,828,972$5,121,923
I-19 Revenue less expensesPrior year $2,200,506$3,187,361
Part VI · Governance 0 of 2 board members independent, 4 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $8,309,284 across 7 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeRelated to mission $1,929,113$1,929,113
VIII-5 Royalties$0
VIII-6 Net rental income or lossRelated to mission −$122,722−$122,722
VIII-7 Net gain or loss on sales of assetsRelated to mission $6,502,893$6,502,893
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $8,309,284$8,309,284
Part IX · Statement of functional expenses $5,121,923 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $4,318,087$4,318,087
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesManagement $262,139$262,139
IX-11c Accounting feesManagement $10,650$10,650
IX-11d Lobbying fees$0
IX-11f Investment management feesManagement $531,047$531,047
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $4,318,087 · Management $803,836 · Fundraising $0$5,121,923
Part X · Balance sheet $72,595,869 assets, 16 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $999,320$869,656
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $5,061,562$5,061,562
X-11 Publicly traded securitiesStart of year $63,347,626$66,664,651
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $69,408,508$72,595,869
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $69,408,508$72,595,869
X-33 Total liabilities and net assetsStart of year $69,408,508$72,595,869
Part XI · Reconciliation of net assets $72,595,869 net assets at year end
XI-1 Total revenue$8,309,284
XI-2 Total expenses$5,121,923
XI-3 Revenue less expenses$3,187,361
XI-4 Net assets at start of year$69,408,508
XI-10 Net assets at end of year$72,595,869

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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