Burton D Morgan Foundation Inc
- Assets
- $213.2m
- Revenue
- $12.6m
- Investments
- $204.6m
- Employees
- 0
- Location
- Hudson, OH
- Founding
- 02/1968
- Data as of
- 12/2021
- EIN
- 34-6598971
Organization Overview
Burton D Morgan Foundation Inc is located in Hudson, OH. The organization was established in 1968. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Burton D Morgan 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 12/2021, Burton D Morgan Foundation Inc generated $12.6m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $10.3m during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 3 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 2020, Burton D Morgan Foundation Inc has awarded 760 individual grants totaling $29,827,053. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS AND ASSISTS WITH STAFFING SCALERATOR NEO. THE SIX-MONTH EDUCATIONAL PROGRAM PROVIDES PRACTICAL SALES AND MARKETING, ORGANIZATIONAL DEVELOPMENT AND ENTREPRENEURS ON THE 3 CS OF GROWTH - CUSTOMERS, CAPACITY, AND CASH. THE COHORT LEARNING EXPERIENCE IS LED BY A FACULTY OF ENTREPRENEURSHIP EDUCATION EXPERTS INCLUDING MBA'S, PH.D.'S, AND OTHER DISTINGUISHED ACADEMIANS AND PRACTITIONERS.
MORGAN FOUNDATION SUPPORTS ENTREPRENEURSHIP EDUCATION FOR YOUTH THROUGH A MARKET-BASED PLATFORM ON WHICH EDUCATORS DECIDE WHAT IS FUNDED USING A POINTS-BASED SYSTEM. THROUGH YIPPEE EXCHANGE, HIGH-QUALITY PRODUCTS ARE AVAILABLE ON THE SITE; EDUCATORS USE POINTS TO PURCHASE THEM; AND PROVIDERS ARE PAID BASED ON WHAT EDUCATORS BUY. THE MARKETPLACE BUILDS STUDENT SKILLS AND EXPOSES STUDENTS TO ENTREPRENEURS IN THEIR COMMUNITIES.
THE FOUNDATION HAS PARTNERED WITH THE EDWARD LOWE FOUNDATION TO PROVIDE EDUCATIONAL PROGRAMMING TO ACCELERATE SUCCESS FOR SECOND-STAGE BUSINESSES. THE PROGRAMS FOCUS ON PEER LEARNING, LEADERSHIP EDUCATION, AND STRATEGIC INFORMATION. THE TWO FOUNDATIONS SHARE A MISSION TO CHAMPION FREE ENTERPRISE AND ENTREPRENEURSHIP
THE FOUNDATION PROVIDES TECHNICAL ASSISTANCE TO FIVE HIGHER EDUCATION INSTITUTIONS WITH IMPLEMENTING AND MAINTAINING THEIR NEOLAUNCHNET PROGRAMS. NEOLAUNCHNET IS A REGIONAL SIGNATURE INITIATIVE THAT SEEKS TO INSPIRE A CULTURE OF INNOVATION ON COLLEGE AND UNIVERSITY CAMPUSES, BUILDING UPON THE UNIQUE ASSETS AND STRENGTHS OF EACH SCHOOL, AND SPARKING THE ENTREPRENEURIAL MINDSET IN ENTERPRISING STUDENTS. THE FOUNDATION STAFF FACILITATES AND COORDINATES THE PROGRAM IN NORTHEAST OHIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel J Hampu President/ceo | 40 | $335,500 | |
Denise M Griggs Vice President/cfo | 40 | $232,667 | |
Richard N Seaman Chairperson | 2 | $15,000 | |
Patrick T Finley Treasurer | 2 | $15,000 | |
Keith A Brown Trustee | 2 | $15,000 | |
J Michael Hochschwender Trustee | 2 | $15,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hig Capital | 12/30/23 | $640,014 |
Entrepreneurship Policy Advisors | 12/30/23 | $410,000 |
Wonderkiln Llc | 12/30/23 | $185,413 |
Clearstead | 12/30/23 | $105,788 |
Broadleaf Partners Llc | 12/30/23 | $94,598 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,369 |
| Dividends & Interest | $3,308,310 |
| Net Rental Income | $100 |
| Net Gain on Sale of Assets | $9,045,554 |
| Capital Gain Net Income | $8,977,024 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $229,937 |
| Total Revenue | $12,585,270 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $736,383 |
| Other employee salaries and wages | $479,059 |
| Pension plans, employee benefits | $196,023 |
| Interest | $0 |
| Taxes | $145,000 |
| Depreciation | $140,203 |
| Occupancy | $23,015 |
| Travel, conferences, and meetings | $13,051 |
| Printing and publications | $18,871 |
| Other expenses | $921,992 |
| Total operating and administrative expenses | $3,606,031 |
| Contributions, gifts, grants paid | $6,728,585 |
| Total expenses and disbursements | $10,334,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,571 |
| Savings and temporary cash investments | $4,670,725 |
| Net Accounts receivable | $1,009,745 |
| 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 | $37,673 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $130,981,452 |
| Net Land, buildings, and equipment | $2,640,462 |
| Other assets | $181,814 |
| Total assets | $213,245,422 |
| Accounts payable and accrued expenses | $46,378 |
| Grants payable | $1,208,318 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $178,500 |
| Total liabilities | $1,433,196 |
Grants Awarded
Over the last fiscal year, Burton D Morgan Foundation Inc has awarded $7,338,937 in support to 181 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS INC PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF ORGANIZATION | $20,000 |
ACCESS INC PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF ORGANIZATION | $25,000 |
AKRON ZOOLOGICAL PARK PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF ORGANIZATION | $10,000 |
ADAPTIVE SPORTS PROGRAM OF OHIO PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF ORGANIZATION | $25,000 |
AKRON-CANTON REGIONAL FOODBANK PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF ORGANIZATION | $5,000 |
ARTISTS ARCHIVES OF THE WESTERN RESERVE PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF ORGANIZATION | $1,000 |