Margaret Clark Morgan Foundation
- Assets
- $97.7m
- Revenue
- $2.9m
- Investments
- $95.1m
- Employees
- 0
- Location
- Hudson, OH
- Founding
- 10/2001
- Data as of
- 12/2022
- EIN
- 34-1948246
Organization Overview
Margaret Clark Morgan Foundation is located in Hudson, OH. The organization was established in 2001. 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. Margaret Clark Morgan 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, Margaret Clark Morgan Foundation generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (18.4%) each year. All expenses for the organization totaled $4.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Margaret Clark Morgan Foundation has awarded 311 individual grants totaling $20,191,425. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
PLANNED AND CONVENED STAKEHOLDER FORUMS ON MENTAL HEALTH ISSUES (EXPRESSIVE ARTS THERAPY, GERIATRIC MENTAL HEALTH) AND FOLLOW-UP
PROVIDED SUPPORT FOR ARTS PRIZE, AND THE MARGARET CLARK MORGAN ART GALLERY, PROMOTING ARTS IN SUMMIT COUNTY
CONDUCTED OUTREACH EFFORT TO CREATE DISCUSSION, SHARE KNOWLEDGE, AND BUILD COLLABORATIVE OPPORTUNITIES WITH OTHER LEADERS, FUNDERS, AND ORGANIZATIONS THAT WILL RESULT IN THE FORMATION OF RESOURCE PARTNERSHIPS FOCUSED ON THE MCMF MISSION
PROVIDED SPONSORSHIP SUPPORT TO 23 ORGANIZATIONS TO ENHANCE/FACILITATE THEIR FUNDRAISING ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Kellar President | 60 | $313,615 | |
Jonathan T Pavloff Chair | 15 | $28,000 | |
Penelope A Frese Secretary | 15 | $28,000 | |
Robert D Kallstrom Treasurer | 15 | $28,000 | |
Jeffery T Knoll Trustee | 15 | $28,000 | |
A William Mcgraw Trustee | 15 | $28,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alicia D Smith Llc | 12/30/22 | $216,958 |
Onpointe Strategic Insights Llc | 12/30/22 | $202,680 |
Calvonah Jenkins | 12/30/22 | $137,224 |
Lifestream Llc | 12/30/22 | $109,000 |
Estratton Consulting Inc | 12/30/22 | $85,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $881,490 |
| Interest on Savings | $77 |
| Dividends & Interest | $2,068,954 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$494,945 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $439,808 |
| Total Revenue | $2,895,384 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $606,838 |
| Other employee salaries and wages | $276,127 |
| Pension plans, employee benefits | $106,420 |
| Interest | $0 |
| Taxes | $301,309 |
| Depreciation | $13,288 |
| Occupancy | $60,538 |
| Travel, conferences, and meetings | $102,069 |
| Printing and publications | $4,370 |
| Other expenses | $1,395,548 |
| Total operating and administrative expenses | $3,247,213 |
| Contributions, gifts, grants paid | $1,082,123 |
| Total expenses and disbursements | $4,329,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,197,510 |
| 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 | $261,986 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $23,212,081 |
| Net Land, buildings, and equipment | $176,056 |
| Other assets | $46,897 |
| Total assets | $97,737,073 |
| Accounts payable and accrued expenses | $211,187 |
| Grants payable | $3,779,041 |
| 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 | $3,990,228 |
Grants Awarded
Over the last fiscal year, Margaret Clark Morgan Foundation has awarded $4,055,370 in support to 64 organizations.
| Grant Recipient | Amount |
|---|---|
ADVOCACY CHOICES & EMPOWERMENT PURPOSE: ANNUAL OVERNIGHT EXPERIENCE 2022 | $8,500 |
AKRON ART MUSEUM PURPOSE: GENERAL OPERATING SUPPORT 2022-2024 | $20,000 |
AKRON CIVIC THEATRE PURPOSE: SPA 2020-2025 | $20,000 |
AKRON SYMPHONIC WINDS PURPOSE: MUSIC AND MUSIC EDUCATION FOR NE OHIO 2022 | $5,000 |
AKRON PHYSICIANS WELLNESS INITIATIVE PURPOSE: EXPANSION GRANT | $50,000 |
APOLLO'S FIRE PURPOSE: SUMMIT CO. CONCERT SEASON & CAI 2022-2023 | $15,000 |