Mitchell And Hilarie Morgan Family Foundation Tr
- Assets
- $11.5m
- Revenue
- $10.8m
- Investments
- $11.3m
- Employees
- 0
- Location
- King Of Prussia, PA
- Founding
- 05/2000
- Data as of
- 12/2023
- EIN
- 25-6683715
Organization Overview
Mitchell And Hilarie Morgan Family Foundation Tr is located in King Of Prussia, PA. The organization was established in 2000. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Mitchell And Hilarie Morgan Family Foundation Tr 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 12/2023, Mitchell And Hilarie Morgan Family Foundation Tr generated $10.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. 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
FOUNDATION IS NOT ENGAGED IN ANY DIRECT CHARITABLE ACTIVITIES. IT PROVIDES GRANTS AND CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitchell L Morgan Co-Trustee | 1 | $0 | |
Hilarie L Morgan Co-Trustee | 1 | $0 | |
Jonathan Morgan Co-Trustee | 1 | $0 | |
Brittany Morgan Kurz Co-Trustee | 1 | $0 | |
Jason Morgan Co-Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $410,000 |
| Interest on Savings | $351 |
| Dividends & Interest | $224,738 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,193,321 |
| Capital Gain Net Income | $11,996,276 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,828,410 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $903 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $153 |
| Total operating and administrative expenses | $3,141 |
| Contributions, gifts, grants paid | $1,455,937 |
| Total expenses and disbursements | $1,459,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $245,140 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,503,549 |
| 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 |