Mark Morton Memorial Fund
- Assets
- $12.9m
- Revenue
- $1.3m
- Investments
- $11.4m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 10/1972
- Data as of
- 12/2023
- EIN
- 23-7181380
Organization Overview
Mark Morton Memorial Fund is located in Chicago, IL. The organization was established in 1972. 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. Mark Morton Memorial Fund 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 12/2023, Mark Morton Memorial Fund generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $806.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Mark Morton Memorial Fund has awarded 151 individual grants totaling $6,736,644. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
BENEFIT PAYMENTS FOR ASSISTANCE TO THE AGED, BLIND OR DISABLED WHO WERE EMPLOYED BY MORTON INT'L, INC OR MORTON SALT CO OR THEIR WHOLLY OWNED SUBSIDIARIES BEFORE 07/01/71
BENEFIT PAYMENTS FOR HOSPITAL, MEDICAL, AND SURGICAL CARE TO THOSE WHO WERE EMPLOYED BY MORTON INT'L, INC OR MORTON SALT CO OR THEIR WHOLLY OWNED SUBSIDIARIES BEFORE 07/01/71
NET DISTRIBUTION TO ILLINOIS CHARITIES IN SUPPORT OF DONEE EXPENDITURE NEEDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah K Severson President | 2 | $30,000 | |
Molly Galo Dir/vice Pres | 1 | $12,000 | |
Mary Kate Daly Dir/vice Pres | 1 | $12,000 | |
John Venhuizen Dir/vice Pres | 1 | $12,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $422,823 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $850,531 |
| Capital Gain Net Income | $850,531 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,273,354 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $66,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $27,825 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,228 |
| Total operating and administrative expenses | $254,904 |
| Contributions, gifts, grants paid | $551,347 |
| Total expenses and disbursements | $806,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,425,785 |
| Savings and temporary cash investments | $0 |
| 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 | $9,344,403 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $19,170 |
| Total assets | $12,881,231 |
| Accounts payable and accrued expenses | $16,506 |
| 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 | $54,000 |
| Total liabilities | $70,506 |
Grants Awarded
Over the last fiscal year, Mark Morton Memorial Fund has awarded $551,347 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
SCHEDULE AVAILABLE UPON REQUEST PURPOSE: AGED, BLIND & DIS ABLED | $59,300 |
SCHEDULE AVAILABLE UPON REQUEST PURPOSE: HOSPITAL, MEDICAL & SURGICAL | $22,597 |
BETHANY CHRISTIAN SERVICES OF ILLINOIS PURPOSE: CHARITABLE | $10,000 |
COMMUNITY SUPPORT SERVICES PURPOSE: CHARITABLE | $20,780 |
BIG BROTHERS BIG SISTER OF METROPOLITAN CHICAGO PURPOSE: CHARITABLE | $50,000 |
GLEN ELLYN FOOD PANTRY PURPOSE: CHARITABLE | $46,230 |