Burton D Morgan Foundation Inc
- Assets
- $213.2m
- Revenue
- $12.6m
- Investments
- $204.6m
- Employees
- 0
- Location
- Hudson, OH
- Founding
- 02/1968
- Data as of
- 12/2021
- EIN
- 34-6598971
Organization Overview
Burton D Morgan Foundation Inc is located in Hudson, OH. The organization was established in 1968. 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. Burton D 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, Burton D Morgan Foundation Inc generated $12.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $10.3m during the year ending 12/2021. While expenses have increased by 4.5% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Burton D Morgan Foundation Inc has awarded 421 individual grants totaling $13,576,886. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
THE FOUNDATION SUPPORTS AND ASSISTS WITH STAFFING SCALERATOR NEO. THE SIX-MONTH EDUCATIONAL PROGRAM PROVIDES PRACTICAL SALES AND MARKETING, ORGANIZATIONAL DEVELOPMENT AND ENTREPRENEURS ON THE 3 CS OF GROWTH - CUSTOMERS, CAPACITY, AND CASH. THE COHORT LEARNING EXPERIENCE IS LED BY A FACULTY OF ENTREPRENEURSHIP EDUCATION EXPERTS INCLUDING MBA'S, PH.D.'S, AND OTHER DISTINGUISHED ACADEMIANS AND PRACTITIONERS.
THE FOUNDATION IS DEVELOPING AN ON-LINE MARKETPLACE FOR ALL THINGS IN YOUTH ENTREPRENEURSHIP EDUCATION PROVIDING QUALITY PRODUCTS TO CLASSROOM TEACHERS AND OUT-OF-SCHOOL INSTRUCTORS. MANAGEMENT OF THIS DIGITAL MARKETPLACE WAS FUNDED BY THE FOUNDATION AND PROVIDED TO YOUNG ENTREPRENEURS INSTITUTE AT UNIVERSITY SCHOOL.
THE FOUNDATION HAS IMPLEMENTED A RESEARCH AND EXPERIMENTATION INITIATIVE THAT INCLUDES A FELLOWSHIP PROGRAM. THE FOUNDATION AND/OR FOUNDATION FELLOW WILL STUDY VARIOUS ASPECTS OF ENTREPRENEURSHIP, ENTREPRENEURSHIP EDUCATION, AND PROGRAM EVALUATION TO DETERMINE BEST PRACTICES IN THE FIELD. RESULTS OF THE RESEARCH WILL BE DISSEMINATED TO BOTH ACADEMIA AND PRACTITIONERS. IN 2021 THE FOUNDATION CONDUCTED A STUDY OF THE COLLEGIATE ENTREPRENEURSHIP ECOSYSTEM IN NORTHEAST OHIO.
THE FOUNDATION PROVIDES TECHNICAL ASSISTANCE TO FIVE HIGHER EDUCATION INSTITUTIONS WITH IMPLEMENTING AND MAINTAINING THEIR NEOLAUNCHNET PROGRAMS. NEOLAUNCHNET IS A REGIONAL SIGNATURE INITIATIVE THAT SEEKS TO INSPIRE A CULTURE OF INNOVATION ON COLLEGE AND UNIVERSITY CAMPUSES, BUILDING UPON THE UNIQUE ASSETS AND STRENGTHS OF EACH SCHOOL, AND SPARKING THE ENTREPRENEURIAL MINDSET IN ENTERPRISING STUDENTS. THE FOUNDATION STAFF FACILITATES AND COORDINATES THE PROGRAM IN NORTHEAST OHIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah D Hoover Pres/ceo | 45 | $346,200 | |
Denise M Griggs Vp/cfo | 40 | $212,900 | |
Angela K Evans Sr. Program Officer | 40 | $107,513 | |
Emily M Bean Program Officer | 40 | $90,795 | |
Gina M Dotson Grants & Communicati | 40 | $83,625 | |
Mary C Dieglio Program Officer | 40 | $71,553 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Entrepreneurship Policy Advisors | 12/30/21 | $400,000 |
Clearstead | 12/30/21 | $106,202 |
Hig Capital | 12/30/21 | $316,261 |
Wonderkiln Llc | 12/30/21 | $185,000 |
University School | 12/30/21 | $140,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,369 |
| Dividends & Interest | $3,308,310 |
| Net Rental Income | $100 |
| Net Gain on Sale of Assets | $9,045,554 |
| Capital Gain Net Income | $8,977,024 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $229,937 |
| Total Revenue | $12,585,270 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $736,383 |
| Other employee salaries and wages | $479,059 |
| Pension plans, employee benefits | $196,023 |
| Interest | $0 |
| Taxes | $145,000 |
| Depreciation | $140,203 |
| Occupancy | $23,015 |
| Travel, conferences, and meetings | $13,051 |
| Printing and publications | $18,871 |
| Other expenses | $921,992 |
| Total operating and administrative expenses | $3,606,031 |
| Contributions, gifts, grants paid | $6,728,585 |
| Total expenses and disbursements | $10,334,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,571 |
| Savings and temporary cash investments | $4,670,725 |
| Net Accounts receivable | $1,009,745 |
| 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 | $37,673 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $130,981,452 |
| Net Land, buildings, and equipment | $2,640,462 |
| Other assets | $181,814 |
| Total assets | $213,245,422 |
| Accounts payable and accrued expenses | $46,378 |
| Grants payable | $1,208,318 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $178,500 |
| Total liabilities | $1,433,196 |
Grants Awarded
Over the last fiscal year, Burton D Morgan Foundation Inc has awarded $7,505,885 in support to 198 organizations.
| Grant Recipient | Amount |
|---|---|
Kent, OH PURPOSE: TO ESTABLISH A FUND TO SUPPORT I 3 LAB ACTIVITIES IN FUTURE YEARS | $500,000 |
Cleveland, OH PURPOSE: TO FUND THE BURTON D. MORGAN MENTORING PROGRAM | $334,000 |
Akron, OH PURPOSE: FOR 2021 ENTREPRENEURIAL PROGRAMMING | $265,000 |
UNIVERSITY SCHOOL PURPOSE: TO SUPPORT YOUNG ENTREPRENEUR INSTITUTE IN THE 2021-22 ACADEMIC YEAR | $191,500 |
Kent, OH PURPOSE: TO SUPPORT LAUNCHNET KSU PROGRAMMING | $176,487 |
Kent, OH PURPOSE: FOR NEOLAUNCHNET PROGRAMMING | $172,367 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Burton D Morgan Foundation Inc has recieved totaling $500,721.
| Awarding Organization | Amount |
|---|---|
Richard J Fasenmyer Foundation Brooklyn, OH PURPOSE: EXPENDITURE RESPONSBILITY GRANT - SEE STATEMENT 9 | $500,721 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Dietrich Foundation Pittsburgh, PA | $1,425,693,584 | $93,476,192 |
Ford Motor Co Fund Dearborn, MI | $173,752,828 | $51,364,996 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |
American Electric Power Foundation Columbus, OH | $61,577,266 | $10,199,855 |
Anthem Foundation Inc Indianapolis, IN | $153,394,091 | $25,472,782 |
Wyncote Foundation Philadelphia, PA | $612,779,360 | $16,336,575 |
Dean & Barbara White Family Foundation Inc Merrillville, IN | $792,865,434 | $81,802,743 |
Wilson Sheehan Foundation Springfield, OH | $57,339,515 | $15,119,930 |