Morehead Cain Foundation
- Assets
- $0.0
- Revenue
- $29.4m
- Investments
- $224.9m
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- 02/1948
- Data as of
- 06/2021
- EIN
- 56-0599225
Organization Overview
Morehead Cain Foundation is located in Chapel Hill, NC. The organization was established in 1948. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Morehead Cain 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 06/2021, Morehead Cain Foundation generated $29.4m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 20.1% each year . All expenses for the organization totaled $13.5m during the year ending 06/2021. While expenses have increased by 1.8% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Morehead Cain Foundation has awarded 760 individual grants totaling $22,248,925. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David C Wright III Chairman/trustee | 5 | $19,491 | |
Willie E Alston Jr Trustee | 2.5 | $9,745 | |
Jennifer Halsey Evans Trustee | 2.5 | $0 | |
A Holly C Gwynne-Timothy Trustee | 2.5 | $9,745 | |
Terri Lacy Trustee | 2.5 | $9,745 | |
Peter A Larkin Jr Trustee | 2.5 | $9,745 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nextions Llc | 6/29/22 | $53,475 |
Global Endowment Management | 6/29/22 | $156,278 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,724,092 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,923,195 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $29,358,947 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $814,995 |
| Pension plans, employee benefits | $0 |
| Depreciation | $33,269 |
| Occupancy | $110,448 |
| Travel, conferences, and meetings | $10,258 |
| Printing and publications | $22,567 |
| Total operating and administrative expenses | $3,557,787 |
| Contributions, gifts, grants paid | $9,901,830 |
| Total expenses and disbursements | $13,459,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,914,141 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Other assets | $183,585 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $317,838 |
Grants Awarded
Over the last fiscal year, Morehead Cain Foundation has awarded $12,347,095 in support to 384 organizations.
| Grant Recipient | Amount |
|---|---|
GOWRI ABHINANDA PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $2,987 |
GRANT ABRAMS PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $30,348 |
SENAM ADEDZE PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $7,425 |
UREDO AGADA PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $35,635 |
MERCY ADEKOLA PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $34,288 |
ESHA AGARWAL PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $2,212 |