To build relationships with alumni and friends in order to secure private funds and other resources for the benefit of the university of southern Mississippi (USM). The foundation receives, invests and distributes private gifts in support of the university's mission.
Key facts about University of Southern Mississippi Foundation
In short: University of Southern Mississippi Foundation gave $10.8M across 3 grants in 2025 (avg $3.6M), mostly in Mississippi. Source: 2025 IRS Form 990.
- EIN
- 64-6022505
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $10,813,880
- Grants made (2025)
- 3
- Average grant
- $3,604,627
- Median grant
- $9,310
- Total assets
- $214,494,117
- Primary geography
- Mississippi (100% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$214.5M
+10.4% YoY
Annual Giving
$10.8M
+18.5% YoY
Grant Count
3
-25.0% YoY
Avg Grant Size
$3.6M
+58.0% YoY
How University of Southern Mississippi Foundation gives
- Giving held roughly steady from 2022 to 2025 (+6%). Method
From the foundation's IRS Form 990 filings. Methodology.
About University of Southern Mississippi Foundation
Based on IRS filings
University of Southern Mississippi Foundation is a public charity focused on Education, based in Hattiesburg, MS. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $214.5M in total assets. In 2025, it awarded 3 grants totaling $10.8M. Net investment income was $13.6M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $7.4M (2021) to $10.8M (2025). In 2025 it made 3 grants totaling $10.8M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was University of Southern Mississippi ($10.8M). Together the top 3 received $10.8M.
Grant Size Distribution
16 grants across all recorded years
The most common grant size was under $50K: 11 grants of 16 (69%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Southern Mississippi Hattiesburg, MS | USM Programs | $10,795,808 |
| University of Southern Mississippi Alumni Association Hattiesburg, MS | USM Alumni Programs | $9,310 |
| University of Southern Ms Athletic Foundation Hattiesburg, MS | USM Athletics | $8,762 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $214,494,117 | $194,257,683 | $165,505,905 |
| Revenue | $27,673,521 | $26,790,188 | $17,712,238 |
| Expenses | $14,922,122 | $12,071,547 | $12,862,991 |
| Net Investment Income | $13,615,715 | $5,603,632 | $3,357,568 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2021 (received by the IRS November 15, 2021)
- Updated Form 990 for fiscal year 2022 (received by the IRS March 28, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 13, 2023)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 10, 2024)
- Updated Form 990 for fiscal year 2025 (received by the IRS November 24, 2025)
- IRS filings on file for fiscal years 2021–2025
Leadership & Key People
Officers and directors from IRS filings
University of Southern Mississippi Foundation is led by Stace Mercier, Executive Director & Secretary on every filing since 2021; 3 of 34 officers listed in 2025 are compensated.
Officers on the 2025 filing
Stace Mercier
Executive Director & Secretary
On filings since 2021
40 hrs/week
$133K (2023) → $142K (2025)
Chris Anderson
President
Director → Policy & Bylaws Committee Chair, 2023
Policy & Bylaws Committee Chair → President, 2025
On filings since 2021
0.5 hrs/week
No compensation reported
Steve Strickland
Investment Committee Chair
Director → Investment Committee Chair, 2023
On filings since 2021
0.7 hrs/week
No compensation reported
Tracy Powell
Resource Development Committee Chair
Director → Board Member, 2024
Board Member → Resource Development Committee Chair, 2025
On filings since 2021
0.6 hrs/week
No compensation reported
Carol Jones-Russell
Policy & Bylaws Committee Chair
Director → Policy & Bylaws Committee Chair, 2024
On filings since 2023
0.3 hrs/week
No compensation reported
Wade Howk Treasurer
Finance Committee Chair
On filings since 2024
0.2 hrs/week
No compensation reported
Jennifer Payne
Board Member
Director → Member-At-Large, 2023
Member-At-Large → Board Member, 2025
On filings since 2021
0.3 hrs/week
$5K (2022) → $0 (2025)
Leslee Smith
Chief Financial Officer
On filings since 2021
40 hrs/week
$82K (2023) → $87K (2025)
Elissa Ernst
Chief Development Officer
New on the 2025 filing
40 hrs/week
$105K (2025)
Alvis Wright
Board Member
Director → Board Member, 2024
On filings since 2021
0.4 hrs/week
No compensation reported
Carlen Chestang
Board Member
Director → Board Member, 2024
On filings since 2021
0.4 hrs/week
No compensation reported
Chuck Scianna
Board Member -
Director → Board Member, 2024
Board Member → Board Member -, 2025
On filings since 2021
0.3 hrs/week
No compensation reported
Joe Quinlan
Immediate Past President
Vice President & Rdc Chair → President, 2024
President → Immediate Past President, 2025
On filings since 2021
0.5 hrs/week
No compensation reported
Joy Lightsey
Board Member
Director → Board Member, 2024
On filings since 2021
0.4 hrs/week
No compensation reported
Rhonda Phillips
Board Member
Member-At-Large → Director, 2023
Director → Board Member, 2024
On filings since 2021
0.2 hrs/week
No compensation reported
Robert Donnell
Board Member
Director → Board Member, 2024
On filings since 2021
0.5 hrs/week
No compensation reported
Adalius Thomas
Board Member
Director → Board Member, 2024
On filings since 2022
0.2 hrs/week
No compensation reported
Alan Coats
Board Member
Director → Board Member, 2024
On filings since 2022
1.8 hrs/week
No compensation reported
Beverly Dale
Board Member
Director → Board Member, 2024
On filings since 2022
2 hrs/week
No compensation reported
Demario Smith
Board Member
Director → Board Member, 2024
On filings since 2022
0.4 hrs/week
No compensation reported
Keith Mooney
Board Member
Director → Board Member, 2024
On filings since 2022
0.5 hrs/week
No compensation reported
Lisa Conn
Board Member
Director → Board Member, 2024
On filings since 2022
0.4 hrs/week
No compensation reported
Omar Nelson
Vice President
Director → Board Member, 2024
Board Member → Vice President, 2025
On filings since 2022
0.5 hrs/week
No compensation reported
Tom Gibbens
Board Member
Director → Board Member, 2024
On filings since 2022
0.4 hrs/week
No compensation reported
Vickie Lock
Board Member
Director → Board Member, 2024
On filings since 2022
0.4 hrs/week
No compensation reported
Adele Lyons
Board Member
Director → Board Member, 2024
On filings since 2023
0.5 hrs/week
No compensation reported
Kevin Gilbert
Board Member
Director → Board Member, 2024
On filings since 2023
0.3 hrs/week
No compensation reported
Rebecca Boudreaux
Board Member
Director → Board Member, 2024
On filings since 2023
0.3 hrs/week
No compensation reported
Roderick Posey
Board Member
Director → Board Member, 2024
On filings since 2023
0.5 hrs/week
No compensation reported
Cindy Gaddis
Member-At-Large
Board Member → Member-At-Large, 2025
On filings since 2024
0.6 hrs/week
No compensation reported
Edward Taylor
Board Member
On filings since 2024
0.1 hrs/week
No compensation reported
Scott Lanehart
Board Member
On filings since 2024
0.4 hrs/week
No compensation reported
Gerald Mumford
Board Member
New on the 2025 filing
1.6 hrs/week
No compensation reported
Susan Williams
Board Member
New on the 2025 filing
0.3 hrs/week
No compensation reported
Former officers (23)
- Former: Kelsey Rushing (2021–2024) — Immediate Past President
- Former: Becky Cowart (2023–2024) — Board Member
- Former: Chris Anderson Vice Pres (2024) — Resource Development Committee Chair
- Former: Louie Ehrlich (2021–2023) — Immediate Past President
- Former: Reed Allison (2021–2023) — Director
- Former: Shonna Brown (2021–2023) — Treasurer & Finance Committee Chair
- Former: Wade Howk (2021–2023) — Director
- Former: Eddie Peasant (2023) — Director
- Former: Suzanne Swink (2023) — Director
- Former: Gilbert Van Loon (2021–2022) — Director
- Former: Haley Broom (2021–2022) — Director
- Former: Jeff Bowman (2021–2022) — Director
- Former: Kimberly Nastasi (2021–2022) — Policy & Bylaws Committee Chair
- Former: Kristy Gould (2021–2022) — Immediate Past President & Rdc
- Former: Sean Tindell (2021–2022) — Director
- Former: Shane McCarthy (2021–2022) — Director
- Former: Verdell Hawkins (2021–2022) — Director
- Former: Alvin Williams (2021) — Director
- Former: Duane Lock (2021) — Immediate Past President
- Former: George Openshaw (2021) — Member-At-Large
- Former: Max Draughn (2021) — Director
- Former: Stan Harrell (2021) — Director
- Former: Tommy Thornton (2021) — Director
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $142K, to Stace Mercier (Executive Director/Secretary). 3 officers or directors reported compensation on that filing.
Frequently asked questions about University of Southern Mississippi Foundation
How much does University of Southern Mississippi Foundation give each year?
University of Southern Mississippi Foundation gave $10.8M across 3 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $9.1M across 4 grants.
What is University of Southern Mississippi Foundation's typical grant size?
University of Southern Mississippi Foundation's median grant in 2025 was $9,310, and its average grant was $3,604,627, across 3 grants on its 2025 IRS Form 990.
Where does University of Southern Mississippi Foundation give grants?
University of Southern Mississippi Foundation gives mostly in Mississippi: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Hattiesburg, MS (3 grants).
Does University of Southern Mississippi Foundation give general operating support?
Not in 2025: none of the 3 grants with a stated purpose on University of Southern Mississippi Foundation's 2025 IRS Form 990 were described as general or operating support.
How large is University of Southern Mississippi Foundation?
University of Southern Mississippi Foundation reported $214.5M in total assets on its 2025 IRS Form 990. Its revenue that year was $27.7M.
What is University of Southern Mississippi Foundation?
University of Southern Mississippi Foundation is a public charity focused on Education, based in Hattiesburg, MS. It holds $214.5M in total assets as of 2025.
What is University of Southern Mississippi Foundation's EIN?
University of Southern Mississippi Foundation's EIN (Employer Identification Number) is 64-6022505. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Here's the math on researching University of Southern Mississippi Foundation by hand.
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