Freeman & Norma Morgan Scholarship Fund
- Assets
- $231.8k
- Revenue
- $33.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Reno, NV
- Founding
- 08/2009
- Data as of
- 12/2021
- EIN
- 26-4639594
Organization Overview
Freeman & Norma Morgan Scholarship Fund is located in Reno, NV. The organization was established in 2009. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freeman & Norma Morgan Scholarship Fund 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 12/2021, Freeman & Norma Morgan Scholarship Fund generated $33.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $18.5k during the year ending 12/2021. While expenses have increased by 2.4% per year over the past 7 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.
Since 2014, Freeman & Norma Morgan Scholarship Fund has awarded 83 individual grants totaling $100,250. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glenda Price Trustee | 1 | $0 | |
Carolyn Seitzinger Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,969 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $27,658 |
| Capital Gain Net Income | $27,658 |
| Net ST Capital Gain | $946 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $33,627 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $350 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2 |
| Total operating and administrative expenses | $4,534 |
| Contributions, gifts, grants paid | $14,000 |
| Total expenses and disbursements | $18,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,253 |
| Savings and temporary cash investments | $207,567 |
| 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 | $231,820 |
| 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, Freeman & Norma Morgan Scholarship Fund has awarded $14,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF NEVADA RENO FOUNDATION PURPOSE: UNIVERSIDY OF NEVADA RENOSCHOLARSHIPS | $8,000 |
WESTERN NEVADA COLLEGE PURPOSE: WESTERN NEVADA COLLEGE FOUNDATIONSCHOLARSHIPS | $2,000 |
TAYLOR INGRAM PURPOSE: UNIVERSIDY OF NEVADA RENOSCHOLARSHIP | $1,000 |
FAITH CORNMESSER PURPOSE: LYON COLLEGESCHOLARSHIP | $1,000 |
DAWSON FROST PURPOSE: UNIVERSIDY OF NEVADA RENOSCHOLARSHIP | $1,000 |
SIEDI LOPEZ RAMEIREZ PURPOSE: UNIVERSIDY OF NEVADA RENOSCHOLARSHIP | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foundation For Global Sports Development Los Angeles, CA | $28,471,591 | $19,690,244 |
Ressler Gertz Foundation Encino, CA | $41,227,955 | $63,459,065 |
Basic Fund Oakland, CA | $23,987,500 | $9,637,782 |
The Roddenberry Foundation Sherman Oaks, CA | $90,372,865 | $11,204,960 |
Scholarship Foundation Of Santa Barbara Santa Barbara, CA | $64,291,323 | $9,987,149 |
Bettye Poetz Ferguson Foundation San Francisco, CA | $18,979,772 | $3,373,943 |
Arizona Private Education Scholarship Fund Inc Scottsdale, AZ | $4,340,429 | $7,500,005 |
Gilead Sciences Foundation Foster City, CA | $126,155,891 | $168,265,797 |
Davis Education Foundation Farmington, UT | $5,085,973 | $8,327,640 |
Draper Foundation San Mateo, CA | $195,149,192 | $78,341,825 |
School Choice Arizona Inc Chandler, AZ | $10,615,298 | $8,926,972 |
College Success Arizona Phoenix, AZ | $19,037,884 | $6,349,882 |