Morey Foundation
- Assets
- $30.9m
- Revenue
- $3.3m
- Investments
- $24.7m
- Employees
- 0
- Location
- Mount Pleasant, MI
- Founding
- 03/1992
- Data as of
- 12/2021
- EIN
- 38-2965346
Organization Overview
Morey Foundation is located in Mount Pleasant, MI. The organization was established in 1992. 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. Morey 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 12/2021, Morey Foundation generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $1.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Morey Foundation has awarded 31 individual grants totaling $785,372. 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
2021
Describe the Organization's Program Activity:
GRANTS TO CRC OF ISABELLA COUNTY
FUNDING OF MOREY FLEXTECH HS
GRANTS TO MACKINAC CENTER FOR PUBLIC POLICY
OPERATING MOREY EDUCATION CENTER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lon Morey President | 25 | $24,038 | |
Larry Noch Treas/sec | 5 | $15,248 | |
Terra Lynn Boone Vp/trustee | 1 | $1,500 | |
Krista Morey Vp/trustee | 1 | $1,500 | |
Gina Gentile Vp/trustee | 1 | $1,500 | |
Laura King Vp/trustee | 1 | $1,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $95,935 |
| Dividends & Interest | $600,484 |
| Net Rental Income | $19,200 |
| Net Gain on Sale of Assets | $2,463,106 |
| Capital Gain Net Income | $2,463,106 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $121,103 |
| Total Revenue | $3,299,828 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $45,286 |
| Other employee salaries and wages | $98,379 |
| Pension plans, employee benefits | $13,506 |
| Interest | -$3,556 |
| Taxes | $54,682 |
| Depreciation | $235,505 |
| Occupancy | $138,784 |
| Travel, conferences, and meetings | $2,803 |
| Printing and publications | $0 |
| Other expenses | $288,887 |
| Total operating and administrative expenses | $1,092,393 |
| Contributions, gifts, grants paid | $794,936 |
| Total expenses and disbursements | $1,887,329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,895 |
| Savings and temporary cash investments | $1,784,494 |
| 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 | $10,122 |
| Net Investments - land, buildings, equipment | $131,158 |
| Investments—mortgage loans | $110,750 |
| Investments—other | $4,104,717 |
| Net Land, buildings, and equipment | $4,212,611 |
| Other assets | $34,868 |
| Total assets | $30,866,889 |
| Accounts payable and accrued expenses | $11,209 |
| Grants payable | $55,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,200 |
| Total liabilities | $68,409 |
Grants Awarded
Over the last fiscal year, Morey Foundation has awarded $67,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MACKINAC CENTER FOR PUBLIC POLICY PURPOSE: MOREY FISCAL POLICY | $57,500 |
MOREY COURTS RECREATION CENTER PURPOSE: COURT SPONSORSHIP | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Douglas & Maria Devos Foundation Grand Rapids, MI | $79,921,409 | $9,501,037 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Dow Company Foundation Bay City, MI | $175,531,548 | $110,489,699 |
Timken Foundation Of Canton Canton, OH | $32,951,548 | $35,361,538 |
Irving S Gilmore Foundation Kalamazoo, MI | $388,410,325 | $41,180,610 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Siemer Family Foundation Columbus, OH | $55,510,313 | $15,843,554 |
Orphan Foundation Of America Orph Cleveland, OH | $10,515,752 | $16,785,416 |