Morgan E Cline Perpetual Charitable Foundation
- Assets
- $16.8m
- Revenue
- $2.6m
- Investments
- $13.8m
- Employees
- 0
- Location
- Centerville, IA
- Founding
- 07/2015
- Data as of
- 12/2021
- EIN
- 47-7016421
Organization Overview
Morgan E Cline Perpetual Charitable Foundation is located in Centerville, IA. The organization was established in 2015. 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. Morgan E Cline Perpetual Charitable 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, Morgan E Cline Perpetual Charitable Foundation generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Morgan E Cline Perpetual Charitable Foundation has awarded 38 individual grants totaling $1,482,644. 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
FOSTERING VIABLE AND THRIVING COMMUNITIES IN AND AROUND APPANOOSE COUNTY, IOWA BY COLLABORATING TO PROVIDE RESOURCES AND PROFESSIONAL SUPPORT. OPERATIONS IN 2021 INCLUDED, THE CLOSING OF THE SHOPPES AT BRADLEY HALL, AND THE OPPERATIONS OF THE CONTINENTAL HOTEL AND THE MAJESTIC THEATER; ALL OF WHICH ARE LOCATED IN APPANOOSE COUNTY, IOWA AND WERE OPERATED AS OUTLINED IN THE WILL OF MORGAN E. CLINE AND THE FORM 1023 APPLICATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alison Fraser CEO | 40 | $110,833 | |
Tena Stansberry Manager - Tch | 40 | $65,282 | |
Kerry Morlan Senior Line Cook | 40 | $56,591 | |
Michael Craver ESQ Chair | 2 | $5,000 | |
Frank Reznicek Vice-Chair | 2 | $5,000 | |
Vanessa Fraser Trustee | 2 | $5,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hopkins Roofing | 12/30/21 | $162,740 |
Cci Group | 12/30/21 | $119,816 |
Southern Iowa Heating & Cooling | 12/30/21 | $82,043 |
Commercial Resources Inc | 12/30/21 | $70,034 |
Christner Contracting | 12/30/21 | $61,928 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $344,826 |
| Interest on Savings | $0 |
| Dividends & Interest | $255,188 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $899,852 |
| Capital Gain Net Income | $1,098,710 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $465,274 |
| Other Income | $634,562 |
| Total Revenue | $2,599,702 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $145,833 |
| Other employee salaries and wages | $604,923 |
| Pension plans, employee benefits | $14,578 |
| Interest | $0 |
| Taxes | $124,614 |
| Depreciation | $113,406 |
| Occupancy | $118,348 |
| Travel, conferences, and meetings | $1,603 |
| Printing and publications | $2,449 |
| Other expenses | $304,095 |
| Total operating and administrative expenses | $1,645,393 |
| Contributions, gifts, grants paid | $528,344 |
| Total expenses and disbursements | $2,173,737 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $266,191 |
| Savings and temporary cash investments | $286,146 |
| Net Accounts receivable | $34,536 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $340,000 |
| Inventories for sale or use | $19,902 |
| Prepaid expenses and deferred charges | $5,366 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,081,695 |
| Other assets | $0 |
| Total assets | $16,803,202 |
| Accounts payable and accrued expenses | $158,402 |
| Grants payable | $0 |
| Deferred revenue | $7,970 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $775 |
| Total liabilities | $167,147 |
Grants Awarded
Over the last fiscal year, Morgan E Cline Perpetual Charitable Foundation has awarded $1,140,344 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Ottumwa, IA PURPOSE: CONSTRUCTION OF NEW FACILITY | $600,000 |
Ottumwa, IA PURPOSE: CONSTRUCTION OF NEW FACILITY | $400,000 |
ALL PLAY PURPOSE: PARKS AND TRAILS DEVELOPMENT | $25,000 |
CITY OF EXLINE PURPOSE: CEMETERY MAINTENANCE | $21,000 |
Moulton, IA PURPOSE: ULTRA-HIGH PRESSURE FIREFIGHTING EQUIPMENT | $20,500 |
Centerville, IA PURPOSE: HUMIDIFICATION SYSTEM | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |