Morgan County Foundation Inc
- Assets
- $3.1m
- Revenue
- $973.4k
- Investments
- $0.0
- Employees
- 12
- Location
- Madison, GA
- Founding
- 11/1967
- Data as of
- 06/2021
- EIN
- 58-6067915
Organization Overview
Morgan County Foundation Inc is located in Madison, GA. The organization was established in 1967. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Morgan County Foundation Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morgan County 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 06/2021, Morgan County Foundation Inc generated $973.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $559.1k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE MADISON-MORGAN CULTURAL CENTER IS TO ENHANCE EDUCATION AND ENJOYMENT OF THE ARTS AND HUMANITIES BY OFFERING HIGH QUALITY PERMANENT EXHIBITS, TEMPORARY EXHIBITIONS, AND PERFORMANCES WHILE PRESERVING OUR HISTORIC BUILDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VISUAL ARTS EXHIBITIONS AND TOURS OF FACILITY. THE FOUNDATION HOSTED MANY MAJOR PERFORMANCES AT THE CULTURAL CENTER DURING THE YEAR. THE CENTER ALSO REMAINS OPEN ON A DAILY BASIS AS AN INTERACTIVE MUSEUM FOR THE GENERAL PUBLIC. THE STAFF ALSO EDUCATES THE GENERAL PUBLIC ABOUT THE HERITAGE AND HISTORY OF THE PIEDMONT REGION OF GEORGIA DURING CULTURAL EVENTS AND DURING THE PUBLIC'S TRIPS TO THE CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Briley Treasurer | Officer | 0 | $0 |
Cheryl Bland Director | Trustee | 0 | $0 |
Lee Abney Director | Trustee | 0 | $0 |
Valle Ashley Director | Trustee | 0 | $0 |
Maghan Holmes Director | Trustee | 0 | $0 |
David Burbach Chairman | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $53,675 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $295,625 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $416,900 |
| Total Program Service Revenue | $68,648 |
| Investment income | $442,616 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,960 |
| Net Gain/Loss on Asset Sales | $24,306 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $973,430 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $225,083 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,746 |
| Payroll taxes | $17,298 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,059 |
| Fees for services: Investment Management | $14,419 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $81,815 |
| Travel | $4,350 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,883 |
| Insurance | $32,065 |
| All other expenses | $41,813 |
| Total functional expenses | $559,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $284,620 |
| Savings and temporary cash investments | $2,877 |
| Pledges and grants receivable | $200 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,996 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $632,248 |
| Investments—publicly traded securities | $2,153,256 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,078,197 |
| Accounts payable and accrued expenses | $15,134 |
| Grants payable | $0 |
| Deferred revenue | $20,500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $205,562 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $241,196 |
| Net assets without donor restrictions | $635,693 |
| Net assets with donor restrictions | $2,201,308 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,078,197 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Morgan County Foundation Inc has recieved totaling $69,523.
| Awarding Organization | Amount |
|---|---|
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: COMMUNITY IMPROVEMENT | $42,000 |
Lenora And Alfred Glancy Foundation Inc Atlanta, GA PURPOSE: GENERAL SUPPORT | $15,000 |
Minneapolis Foundation Minneapolis, MN PURPOSE: ARTS & CULTURE | $10,000 |
Georgia Power Foundation Inc In Receivership Atlanta, GA PURPOSE: EDUCATIONAL SUPPORT FOR CHAMBER MUSIC FESTIVAL | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $23 |
Endowment Analysis
| Beg. Balance | $1,814,913 |
| Earnings | $465,781 |
| Admin Expense | $14,395 |
| Other Expense | $65,015 |
| Ending Balance | $2,201,308 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Adrienne Arsht Center Trust Inc Miami, FL | $40,375,100 | $35,550,513 |
Dr Phillips Center For The Performing Arts Inc Orlando, FL | $72,410,407 | $23,068,254 |
North Carolina Museum Of Art Foundation Inc Raleigh, NC | $80,876,506 | $13,828,837 |
Broward Performing Arts Foundation Inc Fort Lauderdale, FL | $22,267,625 | $6,295,369 |
Alabama Educational Television Foundation Authority Birmingham, AL | $11,749,441 | $5,899,982 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Marbles Kids Museum Raleigh, NC | $8,790,326 | $3,967,863 |
Udt-Seal Museum Association Inc Fort Pierce, FL | $11,703,499 | $4,225,376 |
Tampa Bay Performing Arts Center Foundation Inc Tampa, FL | $58,693,450 | $5,079,168 |
Bellingrath Gardens And Home Foundation Inc Theodore, AL | $4,998,208 | $3,680,917 |
Friends Of Nc State Museum Of Natural Sciences Raleigh, NC | $9,967,287 | $3,956,524 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |