Morse Charitable Foundation Inc
- Assets
- $17.5m
- Revenue
- $1.6m
- Investments
- $11.4m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 01/2012
- Data as of
- 12/2022
- EIN
- 45-3630825
Organization Overview
Morse Charitable Foundation Inc is located in Detroit, MI. The organization was established in 2012. 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. Morse Charitable 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 12/2022, Morse Charitable Foundation Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (30.8%) each year. All expenses for the organization totaled $900.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Morse Charitable Foundation Inc has awarded 131 individual grants totaling $3,492,404. 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:
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter C Morse President/director | 0.25 | $0 | |
Martha F Morse Vice President/director | 0.25 | $0 | |
Kate M Frantz Director | 0.25 | $0 | |
Lisa M Volling Director | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,461 |
| Dividends & Interest | $117,043 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $351,597 |
| Capital Gain Net Income | $350,897 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,158,009 |
| Total Revenue | $1,628,110 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $22,703 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $202 |
| Total operating and administrative expenses | $73,050 |
| Contributions, gifts, grants paid | $827,500 |
| Total expenses and disbursements | $900,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,426 |
| Savings and temporary cash investments | $5,694,275 |
| 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 | $9,500,058 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $124,362 |
| Total assets | $17,507,711 |
| 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 | $4,471 |
| Total liabilities | $4,471 |
Grants Awarded
Over the last fiscal year, Morse Charitable Foundation Inc has awarded $827,500 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUB OF MARTIN COUNTRY PURPOSE: ANNUAL FUND | $20,000 |
BAKER INDUSTRIES PURPOSE: PROGRAM SERVICES | $5,000 |
ENCOUNTER FOR CULTURE AND EDUCATION PURPOSE: GENERAL FUND | $5,000 |
JUPITER ISLAND MEDICAL CLINIC PURPOSE: PROGRAM SERVICES | $7,500 |
FOUNDATION FOR CULTURAL REVIEW PURPOSE: GENERAL FUND | $10,000 |
GOVERNMENT ACCOUNTABILITY INSTITUTE PURPOSE: GENERAL FUND | $50,000 |