Morgan Foundation Inc
- Assets
- $1.7m
- Revenue
- $69.2k
- Investments
- $1.4m
- Employees
- 0
- Location
- Laurel Hill, NC
- Founding
- 10/1992
- Data as of
- 12/2022
- EIN
- 56-1790979
Organization Overview
Morgan Foundation Inc is located in Laurel Hill, NC. The organization was established in 1992. 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 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, Morgan Foundation Inc generated $69.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $169.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (15.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Morgan Foundation Inc has awarded 119 individual grants totaling $1,494,200. 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 |
|---|---|---|---|
James L Morgan Jr Chairman, President & Director | 0 | $0 | |
Elizabeth E Morgan Vice President & Director | 0 | $0 | |
Tammy C Ivey Secretary & Treasurer | 0 | $0 | |
Susan M Farrell Director | 0 | $0 | |
Melinda M Mejia Vice President & Director | 0 | $0 | |
Matthew M Morgan Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,835 |
| Dividends & Interest | $33,444 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $33,864 |
| Capital Gain Net Income | $33,864 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $59 |
| Total Revenue | $69,202 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $447 |
| Taxes | $3,105 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $694 |
| Total operating and administrative expenses | $21,895 |
| Contributions, gifts, grants paid | $147,800 |
| Total expenses and disbursements | $169,695 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $221,535 |
| Net Accounts receivable | $503 |
| 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 | $2,720 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $180,755 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,666,022 |
| 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 Foundation Inc has awarded $147,800 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: SCOTLAND COUNTY RELAY FOR LIFE | $2,500 |
CHURCH COMMUNITY SERVICES PURPOSE: COMMUNITY OUTREACH | $10,300 |
CHURCH IN THE PINES PURPOSE: REPLACE SANCTUARY HVAC | $17,000 |
DOMESTIC VIOLENCE & RAPE CRISIS CENTER PURPOSE: GENERAL CONTRIBUTION | $5,000 |
GROWING CHANGE PURPOSE: CONVERSION OF RURAL PRISONS INTO SUSTAINABLE FARM AND EDUCATION CENTERS FOR AT RISK YOUTH | $15,000 |
HABITAT FOR HUMANITY PURPOSE: BIKE TO BUILD | $3,000 |