Morey Foundation
- Assets
- $30.5m
- Revenue
- $1.6m
- Investments
- $24.4m
- Employees
- 0
- Location
- Mount Pleasant, MI
- Founding
- 03/1992
- Data as of
- 12/2022
- EIN
- 38-2965346
Organization Overview
Morey Foundation is located in Mount Pleasant, MI. 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. Morey 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 12/2022, Morey Foundation generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Morey Foundation has awarded 33 individual grants totaling $887,872. 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
2022
Describe the Organization's Program Activity:
GRANTS TO CRC OF ISABELLA COUNTY
GRANTS TO MACKINAC CENTER FOR PUBLIC POLICY
OPERATING MOREY EDUCATION CENTER
GRANTS TO MYMICHIGAN HEALTH FOUNDATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lon Morey President | 25 | $30,500 | |
Larry Noch Treas/sec | 5 | $18,500 | |
Terra Lynn Boone Vp/trustee | 1 | $2,000 | |
Krista Morey Vp/trustee | 1 | $2,000 | |
Gina Gentile Vp/trustee | 1 | $2,000 | |
Laura King Vp/trustee | 1 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $121,196 |
| Dividends & Interest | $575,425 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $649,062 |
| Capital Gain Net Income | $649,062 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $205,388 |
| Total Revenue | $1,551,071 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $57,000 |
| Other employee salaries and wages | $89,777 |
| Pension plans, employee benefits | $17,426 |
| Interest | $3,405 |
| Taxes | $24,067 |
| Depreciation | $234,131 |
| Occupancy | $139,850 |
| Travel, conferences, and meetings | $4,729 |
| Printing and publications | $0 |
| Other expenses | $98,742 |
| Total operating and administrative expenses | $862,478 |
| Contributions, gifts, grants paid | $1,148,831 |
| Total expenses and disbursements | $2,011,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,598 |
| Savings and temporary cash investments | $1,860,780 |
| 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 | $7,295 |
| Net Investments - land, buildings, equipment | $131,158 |
| Investments—mortgage loans | $110,750 |
| Investments—other | $4,172,876 |
| Net Land, buildings, and equipment | $3,978,480 |
| Other assets | $10,800 |
| Total assets | $30,454,740 |
| Accounts payable and accrued expenses | $13,998 |
| Grants payable | $102,500 |
| 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 | $116,498 |
Grants Awarded
Over the last fiscal year, Morey Foundation has awarded $102,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MACKINAC CENTER FOR PUBLIC POLICY PURPOSE: MOREY FISCAL POLICY | $52,500 |
MYMICHIGAN HEALTH FOUNDATION PURPOSE: OPERATIONS | $50,000 |