Morgridge Family Foundation
- Assets
- $205.4m
- Revenue
- $22.6m
- Investments
- $175.5m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 06/2009
- Data as of
- 12/2020
- EIN
- 26-2336633
Organization Overview
Morgridge Family Foundation is located in Wilmington, DE. The organization was established in 2009. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Morgridge Family 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 12/2020, Morgridge Family Foundation generated $22.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (15.8%) each year. All expenses for the organization totaled $17.1m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Morgridge Family Foundation has awarded 426 individual grants totaling $23,274,811. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
BOOK PUBLISHING - SEE GENERAL EXPLANATION ATTACHMENT
MORGRIDGE ACCELERATION PROGRAM - SEE GENERAL EXPLANATION STATEMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Farnam Chief Of Staff | 40 | $221,648 | |
Tony Cohn Director Of Strategy | 40 | $112,661 | |
Emma J Spofford Executive Assistant | 40 | $106,052 | |
Kelsey Thompson Communications Mgr | 40 | $87,651 | |
Meredith Dreman Director Of Mff Pub | 40 | $82,588 | |
Michelle N Morgridge Dir | 30 | $20,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kahn Construction Corp | 12/30/21 | $454,741 |
Merrill Lynch | 12/30/21 | $726,874 |
Sparks & Honey | 12/30/21 | $220,000 |
General Atlantic Service Company | 12/30/21 | $1,401,607 |
Foundation Source | 12/30/21 | $190,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000,000 |
| Interest on Savings | $25,959 |
| Dividends & Interest | $2,516,718 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,085,623 |
| Capital Gain Net Income | $13,607,400 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $952,158 |
| Total Revenue | $22,580,458 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $80,000 |
| Other employee salaries and wages | $675,282 |
| Pension plans, employee benefits | $162,656 |
| Interest | $553 |
| Taxes | $591,899 |
| Depreciation | $208,557 |
| Occupancy | $80,689 |
| Travel, conferences, and meetings | $137,659 |
| Printing and publications | $7,739 |
| Other expenses | $876,183 |
| Total operating and administrative expenses | $5,075,192 |
| Contributions, gifts, grants paid | $12,020,394 |
| Total expenses and disbursements | $17,095,586 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $17,539,370 |
| Net Accounts receivable | $5,521 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $600,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $92,324,848 |
| Net Land, buildings, and equipment | $7,722,647 |
| Other assets | $4,098,000 |
| Total assets | $205,419,134 |
| 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 | $18,738 |
| Total liabilities | $18,738 |
Grants Awarded
Over the last fiscal year, Morgridge Family Foundation has awarded $11,254,417 in support to 164 organizations.
| Grant Recipient | Amount |
|---|---|
MINDSPARK LEARNING PURPOSE: MORGRIDGE EDUCATION ACCELERATOR, MORGRIDGE INNOVATION CERTIFICATE PROGRAM, AND ONGOING PROGRAMS AND OPERATIONS | $2,000,000 |
Denver, CO PURPOSE: 9TH OF 10 GRANT PAYMENTS FOR THE MORGRIDGE EDUCATION CAMPUS AT NATIONAL JEWISH HEALTH | $1,500,000 |
Denver, CO PURPOSE: RENOVATION OF THE CREATIVE HUB IN THE NORTH BUILDING | $1,250,000 |
Bridgewater, VA PURPOSE: RENOVATION AND CONSTRUCTION OF BRIDGEWATER COLLEGE'S LEARNING COMMONS | $750,000 |
Washington, DC PURPOSE: SCHOLARSHIP OF THE PRESIDENT OF AEI | $600,000 |
ALTA VISTA CENTER FOR AUTISM (DBA FIREFLY AUTISM H PURPOSE: TO FUND THE MORGRIDGE FAMILY FELLOWSHIP PROGRAM | $350,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Morgridge Family Foundation has recieved totaling $15,500.
| Awarding Organization | Amount |
|---|---|
Amp The Cause Denver, CO PURPOSE: COMMUNITY SUPPORT | $15,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Walder Family Foundation Wilmington, DE | $215,951,796 | $11,130,940 |
Maguire Foundation West Conshohocken, PA | $0 | $10,846,953 |
Mabel Pew Myrin Trust Philadelphia, PA | $417,886,148 | $39,075,922 |
Max Stenbeck Foundation Wilmington, DE | $3,203,232 | $39,728,528 |
Neubauer Family Foundation Philadelphia, PA | $348,008,962 | $28,614,405 |
Quantitative Foundation Philadelphia, PA | $101,541,098 | -$10,401,387 |
J N Pew Jr Charitable Trust Philadelphia, PA | $309,649,040 | $25,152,087 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Morgridge Family Foundation Wilmington, DE | $205,419,134 | $22,580,458 |