The Morningstar Philanthropic Foundation
- Assets
- $552.6m
- Revenue
- $17.9m
- Investments
- $524.2m
- Employees
- 0
- Location
- Bethesda, MD
- Founding
- 12/1982
- Data as of
- 12/2021
- EIN
- 52-1270464
Organization Overview
The Morningstar Philanthropic Foundation is located in Bethesda, MD. The organization was established in 1982. 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. Morningstar Philanthropic 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 12/2021, Morningstar Philanthropic Foundation generated $17.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $30.6m during the year ending 12/2021. While expenses have increased by 15.2% per year over the past 6 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 2016, Morningstar Philanthropic Foundation has awarded 955 individual grants totaling $62,413,523. 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 |
|---|---|---|---|
Adina Barkinskiy Director Of Programs | 30 | $116,843 | |
Lisa Jacobson Sr. Program Officer | 40 | $96,667 | |
Gail Hyman Grants Administrator | 34 | $53,267 | |
Susan R Gelman Director/president | 5 | $0 | |
Michael C Gelman Director/v.p./treas./sec. | 20 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Crestview Management Llc | 12/30/17 | $1,463,211 |
Fiduciary Trust Company International | 12/30/17 | $191,275 |
Tweedy Browne | 12/30/17 | $137,106 |
Dodge & Cox | 12/30/17 | $63,259 |
Clover Investment Advisors | 12/30/17 | $58,810 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $7,959,408 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,899,606 |
| Capital Gain Net Income | $9,899,606 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $28,729 |
| Total Revenue | $17,887,743 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $284,851 |
| Pension plans, employee benefits | $80,856 |
| Interest | $0 |
| Taxes | $21,121 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,879,864 |
| Total operating and administrative expenses | $6,853,846 |
| Contributions, gifts, grants paid | $23,771,758 |
| Total expenses and disbursements | $30,625,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,142,644 |
| Net Accounts receivable | $25,000 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $24,076,856 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $524,163,661 |
| Net Land, buildings, and equipment | $223,018 |
| Other assets | $0 |
| Total assets | $552,631,179 |
| 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 | $384,728 |
| Total liabilities | $384,728 |
Grants Awarded
Over the last fiscal year, The Morningstar Philanthropic Foundation has awarded $23,771,758 in support to 203 organizations.
| Grant Recipient | Amount |
|---|---|
FIDELITY CHARITABLE PURPOSE: GENERAL CHARITABLE PURPOSES | $4,000,000 |
JEWISH FEDERATION OF GREATER WASHINGTON PURPOSE: GENERAL CHARITABLE PURPOSES | $1,000,000 |
New York, NY PURPOSE: GENERAL CHARITABLE PURPOSES | $1,000,000 |
BAFRAYUNG FOUNDATION PURPOSE: GENERAL CHARITABLE PURPOSES | $970,000 |
Washington, DC PURPOSE: GENERAL CHARITABLE PURPOSES | $750,000 |
New York, NY PURPOSE: GENERAL CHARITABLE PURPOSES | $600,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Penn Foundation Philadelphia, PA | $0 | $175,834,650 |
The Heinz Endowments Pittsburgh, PA | $0 | $54,378,087 |
Msi-Us Washington, DC | $1,301,607 | $71,292,993 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Bhp Foundation Washington, DC | $309,092,778 | $68,102,954 |
Wyss Medical Foundation Inc Washington, DC | $41,278,790 | $827,503 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Sarah Scaife Foundation Inc Pittsburgh, PA | $645,014,499 | $79,121,296 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |