Morgan Creek Foundation
- Assets
- $2.9m
- Revenue
- $183.7k
- Investments
- $2.4m
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- 01/2016
- Data as of
- 12/2022
- EIN
- 20-3999739
Organization Overview
Morgan Creek Foundation is located in Chapel Hill, NC. The organization was established in 2016. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morgan Creek Foundation 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 12/2022, Morgan Creek Foundation generated $183.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $246.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Morgan Creek Foundation has awarded 312 individual grants totaling $2,423,437. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MORGAN CREEK FOUNDATION SEEKS TO FUND NOT-FOR-PROFIT ORGANIZATIONS IN THE COMMUNITIES WHERE WE LIVE AND WORK THAT PROVIDE DISADVANTAGED CHILDREN AND YOUTH THE OPPORTUNITY TO PARTICIPATE IN ACADEMIC PROGRAMS DESIGNED TO HELP THEM DEVELOP THE SKILLS NECESSARY TO BECOME A SUCCESSFUL ADULT LATER IN LIFE AND TO CONTRIBUTE TO THE COMMUNITIES WHERE THEY CHOOSE TO LIVE IN THEIR OWN UNIQUE WAY. IN 2022 MORGAN CREEK FOUNDATION ASSISTED 17 ORGANIZATIONS.
SCHOLARSHIPS AWARDED TO GRADUATING HIGH SCHOOL STUDENTS OR INDIVIDUALS WHO HAVE OBTAINED A G.E.D., WHO WILL ATTEND A POST-SECONDARY EDUCATIONAL INSTITUTION AND HAVE AN AFFILIATION WITH ONE OR MORE OF THE CURRENT OR FORMER MORGAN CREEK FOUNDATION GRANTEES (SEE ACTIVITY DESCRIBED IN ACTIVITY ONE). IN 2022 MORGAN CREEK FOUNDATION AWARDED TEN SCHOLARSHIPS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Fisher Director/treasurer | 2 | $10,000 | |
Stacey Yusko Director/vp/dir. Of Grants | 1 | $0 | |
Mark W Yusko Director/president | 1 | $0 | |
Julie Thurman Board Member | 0.5 | $0 | |
Michael P Hennessy Board Member | 0.5 | $0 | |
Joshua Tilley Board Member | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $83,464 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $260 |
| Capital Gain Net Income | $260 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $183,724 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $10,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,207 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,869 |
| Total operating and administrative expenses | $18,571 |
| Contributions, gifts, grants paid | $228,000 |
| Total expenses and disbursements | $246,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $457,669 |
| Savings and temporary cash investments | $63,707 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| 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 | $26,159 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,876,069 |
| 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, Morgan Creek Foundation has awarded $258,000 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
Newark, NJ PURPOSE: SUPPORT OF DOVE LEARNING CENTER | $18,000 |
Carrboro, NC PURPOSE: SUPPORT ADULT LITERACY PROGRAM. | $17,500 |
CHILDREN'S LITERACY PROJECT PURPOSE: TO SUPPORT HIGH SCHOOL EDUCATIONAL AND TUTORING PROGRAMS | $15,000 |
TRIANGLE LITERACY COUNCIL PURPOSE: SUPPORT JUVENILE LITERACY CENTER | $15,000 |
Durham, NC PURPOSE: SUPPORT PRE-K PROGRAMMING | $15,000 |
Durham, NC PURPOSE: SUPPORT EDUCATIONAL AND JOB TRAINING PROGRAMS | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Company Charitable Foundation Inc Atlanta, GA | $133,098,319 | $27,836,912 |
Burroughs Wellcome Fund Research Triangle Park, NC | $946,804,754 | $86,337,046 |
Dollywood Foundation Pigeon Forge, TN | $23,282,143 | $42,750,755 |
Blue Cross And Blue Shield Of North Carolina Foundation Durham, NC | $253,862,813 | $27,558,288 |
Tennessee Health Foundation Inc Chattanooga, TN | $243,056,353 | $3,261,329 |
Masters Tournament Foundation Inc Augusta, GA | $56,432,291 | $20,283,494 |
Assisi Foundation Of Memphis Inc Memphis, TN | $238,137,134 | $32,851,811 |
Commonwealth Foundations Richmond, VA | $819,010 | $12,460,000 |
Carmax Foundation Richmond, VA | $6,340,369 | $9,797,991 |
Ingersoll-Rand Charitable Foundation Davidson, NC | $949,422 | $5,202,263 |
Speedwell Foundation Atlanta, GA | $165,926,993 | $26,115,784 |
Teleios Collaborative Network Flat Rock, NC | $1,937,761 | $5,692,077 |