Morgan Foundation Inc
- Assets
- $1.8m
- Revenue
- $210.2k
- Investments
- $1.6m
- Employees
- 0
- Location
- Laurel Hill, NC
- Founding
- 10/1992
- Data as of
- 12/2021
- 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 12/2021, Morgan Foundation Inc generated $210.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $159.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Morgan Foundation Inc has awarded 117 individual grants totaling $1,453,800. 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 | |
Susan M Farrell Director | 0 | $0 | |
Tammy C Ivey Secretary & Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,055 |
| Dividends & Interest | $36,583 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $172,523 |
| Capital Gain Net Income | $172,523 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $210,161 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,622 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $435 |
| Total operating and administrative expenses | $21,409 |
| Contributions, gifts, grants paid | $137,900 |
| Total expenses and disbursements | $159,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $205,783 |
| Net Accounts receivable | $208 |
| 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 | $2,280 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $191,047 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,767,217 |
| Accounts payable and accrued expenses | $702 |
| 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 | $702 |
Grants Awarded
Over the last fiscal year, Morgan Foundation Inc has awarded $137,900 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
ST ANDREWS UNIVERSITY PURPOSE: REFURBISHMENT OF DORMITORY BATHROOMS DAMAGED DURING HURRICANE | $20,000 |
Laurinburg, NC PURPOSE: FAITH BASED COUSELING FOR LOW INCOME FAMILIES/INDIVIDUALS | $20,000 |
GROWING CHANGE PURPOSE: CONVERSION OF RURAL PRISONS INTO SUSTAINABLE FARM AND EDUCATION CENTERS FOR AT RISK YOUTH | $15,000 |
Laurinburg, NC PURPOSE: PEDIATRIC CANCER RESEARCH | $15,000 |
DOMESTIC VIOLENCE & RAPE CRISIS CENTER PURPOSE: GENERAL CONTRIBUTION | $15,000 |
CHURCH COMMUNITY SERVICES PURPOSE: COMMUNITY OUTREACH | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |