The Morton Foundation Inc
- Assets
- $1.8m
- Revenue
- $498.7k
- Investments
- $1.6m
- Employees
- 0
- Location
- Cape Neddick, ME
- Founding
- 05/1996
- Data as of
- 06/2023
- EIN
- 04-3288386
Organization Overview
The Morton Foundation Inc is located in Cape Neddick, ME. The organization was established in 1996. According to its NTEE Classification (O20) the organization is classified as: Youth Centers & Clubs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morton Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Morton Foundation Inc generated $498.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 58.5% each year . All expenses for the organization totaled $256.7k during the year ending 06/2023. While expenses have increased by 4.8% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES A PROGRAM AND STAFF TO WORK AT YORK MIDDLE SCHOOL WITH TEACHERS AND SPECIAL EDUCATION CASE MANAGERS IN GRADES 5-8 TO IMPROVE THE EDUCATIONAL ENVIRONMENT FOR STUDENTS WITH SPECIAL EDUCATION NEEDS. TODAY'S EDUCATION MODEL IS BASED ON AN INCLUSION MODEL THAT MEANS STUDENTS WITH SPECIAL EDUCATION NEEDS SHOULD BE LEARNING IN THE LEAST RESTRICTIVE ENVIRONMENT WHICH IN MOST CASES MEANS THE REGULAR EDUCATION SETTING. THE CHALLENGE IS THE CURRICULUM BEING OFFERED IN SCHOOLS IS NOT DEVELOPED TO MEET THE NEEDS OF STUDENTS WITH SPECIAL EDUCATION NEEDS. THE FOUNDATION PROGRAM PROVIDES A STAFF PERSON, CAROLYN SAYWARD, WHO IS A CERTIFIED MAINE TEACHER WITH A MASTER'S DEGREE. SHE BRIDGES THE GAP BETWEEN CLASSROOM TEACHERS AND SPECIAL EDUCATION CASE MANAGERS TO MEET THE NEEDS OF SPECIAL EDUCATION STUDENTS WITH INDIVIDUALIZED EDUCATION PLANS (IEP). SHE COLLABORATES WITH THE GRADE LEVEL TEAMS TO DISCUSS HOW SHE CAN ADAPT CURRICULUM TO BETTER MEET STUDENT NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn M Sayward President, Director | 10 | $0 | |
Christina Cm Whitaker Director | 0.5 | $0 | |
A Kathleen Hastings Director | 0.5 | $0 | |
Keith Whitaker Treasurer, Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $52,742 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $445,774 |
| Capital Gain Net Income | $445,774 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $178 |
| Total Revenue | $498,694 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,070 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,416 |
| Total operating and administrative expenses | $55,232 |
| Contributions, gifts, grants paid | $201,500 |
| Total expenses and disbursements | $256,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,549 |
| Savings and temporary cash investments | $150,583 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $1,620 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $56,106 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,805,402 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, The Morton Foundation Inc has awarded $201,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FIDELITY CHARITABLE GIFT FUND PURPOSE: TO ESTABLISH SCHOLARSHIP FUND | $200,000 |
MAINE SHRINE LOBSTER BOWL PURPOSE: TO SUPPORT SHRINERS HOSPITALS FOR CHILDREN | $1,500 |