Morino Foundation
- Assets
- $734.3k
- Revenue
- $1.8m
- Investments
- $267.3k
- Employees
- 0
- Location
- Rocky River, OH
- Founding
- 03/1993
- Data as of
- 12/2022
- EIN
- 54-1643112
Organization Overview
Morino Foundation is located in Rocky River, OH. The organization was established in 1993. 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. Morino 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 12/2022, Morino Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Morino Foundation has awarded 20 individual grants totaling $948,904. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MORINO INSTITUTE WAS FOUNDED IN 1994 TO STIMULATE INNOVATION AND ENTREPRENEURSHIP, ADVANCE A MORE EFFECTIVE PHILANTHROPY, CLOSE SOCIAL DIVIDES, AND UNDERSTAND THE RELATIONSHIP AND IMPACT OF THE INTERNET ON OUR SOCIETY. INITIATIVES HAVE INCLUDED THE POTOMAC KNOWLEDGEWAY, NETPRENEUR, THE YOUTH DEVELOPMENT COLLABORATIVE AND YOUTHLEARN. THE CULMINATION OF ITS EARLY YEARS RESULTED IN HELPING CREATE VENTURE PHILANTHROPY PARTNERS WHICH IT CONTINUES TO SUPPORT. THE MORINO INSTITUTE ALSO FACILITATES AND SUPPORTS ACTIVITIES VIA ITS LEAP OF REASON INITIATIVE WHICH IS DEDICATED TO SHARING THE MESSAGE OF HIGH PERFORMANCE TO A BROADER AUDIENCE. PROJECTS WITHIN THIS INITIATIVE INCLUDE THE DEVELOPMENT, PUBLICATION AND DISSEMINATION OF LEAP OF REASON AND THE PACKAGING AND DISTRIBUTION OF WORKING HARD - AND WORKING WELL, BOTH EDUCATIONAL MATERIALS. THE MORINO INSTITUTE ALSO PROVIDES ASSISTANCE TO THE LEAP OF REASON AMBASSADORS COMMUNITY WITH THE PURPOSE OF (1) INSPIRING, MOTIVATING, AND SUPPORTING N
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mario M Morino Chairman | 1 | $0 | |
Dana S Morino Vice Chair | 1 | $0 | |
Rich T Mcdonnell Treasurer | 1 | $0 | |
Matthew Morino Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,795,388 |
| Interest on Savings | $129 |
| Dividends & Interest | $3,926 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,799,443 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $600 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $238 |
| Printing and publications | $0 |
| Other expenses | $35,832 |
| Total operating and administrative expenses | $1,827,037 |
| Contributions, gifts, grants paid | $393,601 |
| Total expenses and disbursements | $2,220,638 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,856 |
| Savings and temporary cash investments | $411,126 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $734,285 |
| Accounts payable and accrued expenses | $203 |
| 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 | $203 |
Grants Awarded
Over the last fiscal year, Morino Foundation has awarded $393,601 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
VENTURE PHILANTHROPY PARTNERS PURPOSE: GENERAL FUND | $250,000 |
UNIVERSITY SETTLEMENT PURPOSE: GENERAL FUND | $25,000 |
WIKIMEDIA FOUNDATION PURPOSE: GENERAL FUND | $5,000 |
GUIDESTAR USA INC PURPOSE: GENERAL FUND | $3,601 |
JARVIS GIBSON FOUNDATION PURPOSE: GENERAL FUND | $10,000 |
LAWRENCE SCHOOL PURPOSE: GENERAL FUND | $100,000 |