Morgan Family Legacy Foundation
- Assets
- $4.6m
- Revenue
- $335.6k
- Investments
- $4.0m
- Employees
- 0
- Location
- Leawood, KS
- Founding
- 04/2016
- Data as of
- 12/2023
- EIN
- 47-5638410
Organization Overview
Morgan Family Legacy Foundation is located in Leawood, KS. The organization was established in 2016. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Morgan Family Legacy 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 12/2023, Morgan Family Legacy Foundation generated $335.6k 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 (36.2%) each year. All expenses for the organization totaled $358.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Morgan Family Legacy Foundation has awarded 70 individual grants totaling $1,222,500. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A - REFER TO PART XIV - ALL OF THE FOUNDATION'S CHARITABLE ACTIVITIES ARE CASH CONTRIBUTIONS PAID DIRECTLY TO TAX EXEMPT CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael B Morgan Director, Chairman & Presi | 1 | $0 | |
Amanda K Morgan Director, COO & Secretary | 10 | $14,000 | |
Brian J Morgan Director, Cio & Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $79 |
| Dividends & Interest | $213,141 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $122,360 |
| Capital Gain Net Income | $122,360 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $335,580 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $14,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,687 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $385 |
| Total operating and administrative expenses | $58,487 |
| Contributions, gifts, grants paid | $300,000 |
| Total expenses and disbursements | $358,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,883 |
| Savings and temporary cash investments | $93,630 |
| 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 | $2,522,112 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $359,951 |
| Total assets | $4,561,496 |
| 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, Morgan Family Legacy Foundation has awarded $300,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
THE TEMPLE CONGREGATION B'NAI JEHUDAH PURPOSE: SUPPORT RELIGIOUS MISSION OF SYNAGOGUE | $60,000 |
CANCER LEAGUE OF COLORADO PURPOSE: TO SECURE THE CURE OR CONTROL OF CANCER BY RAISING FUNDS TO SUPPORT INNOVATIVE CANCER RESEARCH AND CANCER-RELATED SERVICES IN THE STATE OF COLORADO | $10,000 |
DENVER ART MUSEUM PURPOSE: TO WORK TOGETHER TO BUILD A WORLD WHERE ART SPARKS CREATIVITY AND CONNECTS, INSPIRES AND EMPOWERS PEOPLE AND COMMUNITIES | $10,000 |
STARLIGHT THEATRE ASSOCIATION OF KANSAS CITY PURPOSE: TO CONNECT OUR COMMUNITY THROUGH LIVE ARTS EXPERIENCES THAT ENTERTAIN, INSPIRE AND ENGAGE.TO CONNECT JEWISH STUDENTS TO EACH OTHER, TO INSPIRE AND EQUIP THE NEXT GENERATION OF JEWISH LEADERS AND TO BUILD A THRIVING JEWISH COMMUNITY ON CAMPUS | $10,000 |
COLORADO PHOTOGRAPHIC ARTS CENTER PURPOSE: DEDICATED TO THE ART OF PHOTOGRAPHY, OFFERING CONTEMPORARY PHOTOGRAPHY EXHIBITIONS, CLASSES, WORKSHOPS, PORTFOLIO REVIEWS, A DARKROOM, AND COMMUNITY | $6,000 |
FRIEND OF THE CCAR PURPOSE: TO SUPPORT AND STRENGTHEN REFORM RABBIS SO THAT THE MEMBERS, THEIR COMMUNITIES, AND REFORM JEWISH VALUES THRIVE | $5,000 |