Charlene And Thomas Morgan Charitable Foundation Inc
- Assets
- $9.4m
- Revenue
- $1.7m
- Investments
- $8.9m
- Employees
- 0
- Location
- Red Rock, TX
- Founding
- 02/2015
- Data as of
- 12/2021
- EIN
- 46-4277924
Organization Overview
Charlene And Thomas Morgan Charitable Foundation Inc is located in Red Rock, TX. The organization was established in 2015. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Charlene And Thomas Morgan Charitable 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, Charlene And Thomas Morgan Charitable Foundation Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 52.0% each year . All expenses for the organization totaled $862.3k during the year ending 12/2021. While expenses have increased by 1.3% per year over the past 7 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 2014, Charlene And Thomas Morgan Charitable Foundation Inc has awarded 83 individual grants totaling $3,782,672. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roger C Solomon Director | 10 | $40,000 | |
Joyce Solomon Director | 10 | $40,000 | |
Anne Vaughn Director | 10 | $40,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $194,120 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,537,822 |
| Capital Gain Net Income | $1,537,821 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$17,357 |
| Total Revenue | $1,714,585 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $120,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $739 |
| Taxes | $12,310 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $686 |
| Total operating and administrative expenses | $311,123 |
| Contributions, gifts, grants paid | $551,200 |
| Total expenses and disbursements | $862,323 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $487,685 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $10,000 |
| Total assets | $9,388,664 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Charlene And Thomas Morgan Charitable Foundation Inc has awarded $551,200 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
RIVER VALLEY CHRISTIAN FELLOWSHIP PURPOSE: FURTHERANCE OF THE CHRISTIAN FAITH AND MINISTRY TO THE SURROUNDING COMMUNITY | $100,000 |
BATEMAN BAPTIST CHURCH PURPOSE: FURTHERANCE OF THE CHRISTIAN FAITH AND MINISTRY TO THE SURROUNDING COMMUNITY | $90,000 |
Sewickley, PA PURPOSE: GENERAL FUNDRAISING | $64,000 |
Laurel, MS PURPOSE: FOR THE ESTABLISHMENT AND OPERATIONS OF 24 HOUR A DAY CHURCHES, SHELTERS FOR THE LESS FORTUNATE AND THE MINISTRIES THEREIN | $60,000 |
Austin, TX PURPOSE: FURTHERANCE OF THE CHRISTIAN FAITH AND MINISTRY TO THE SURROUNDING COMMUNITY | $45,000 |
VALLEY BAPTIST CHURCH PURPOSE: FURTHERANCE OF THE CHRISTIAN FAITH AND MINISTRY TO THE SURROUNDING COMMUNITY | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kirkpatrick Family Affiliated Fund Ok City Community Foundation Inc Oklahoma City, OK | $324,040,869 | $11,766,230 |
John L Santikos Charitable Foundation San Antonio, TX | $496,690,264 | -$37,218,989 |
Bokf Foundation Tulsa, OK | $18,840,585 | $10,529,453 |
Barbara Bush Houston Literacy Foundation Houston, TX | $10,679,389 | $4,314,808 |
San Jacinto Community College Foundation Pasadena Texas Pasadena, TX | $44,430,086 | $3,138,772 |
Northshore Community Foundation Covington, LA | $35,281,290 | $6,747,266 |
Cardwell Foundation El Paso, TX | $19,559,398 | $1,253,367 |
Boys And Girls Club Of Benton County Bentonville, AR | $4,739,597 | $3,092,938 |
Highland Dallas Foundation Inc Dallas, TX | $58,559,322 | $4,564,179 |
Tarrant County College Foundation Fort Worth, TX | $35,706,902 | $3,034,806 |
William C Schumacher Family Foundation Lafayette, LA | $29,256,069 | $1,867,606 |
Charitable Holdings Ii Austin, TX | $3,026,494 | $996,055 |