A D & A L Morgan Memorial Scholarship Fund
- Assets
- $486.7k
- Revenue
- $24.3k
- Investments
- $477.7k
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 06/1964
- Data as of
- 12/2022
- EIN
- 54-0309320
Organization Overview
A D & A L Morgan Memorial Scholarship Fund is located in Norfolk, VA. The organization was established in 1964. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. A D & A L Morgan Memorial Scholarship Fund 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, A D & A L Morgan Memorial Scholarship Fund generated $24.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $47.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, A D & A L Morgan Memorial Scholarship Fund has awarded 39 individual grants totaling $127,500. 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 |
|---|---|---|---|
Charlotte W Chandler Trustee | 1 | $0 | |
G Randolph Webb Jr Trustee | 1 | $0 | |
Robert W Guffey Jr Trustee | 1 | $0 | |
Lewis W Webb III Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $23,943 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $393 |
| Capital Gain Net Income | $393 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $24,336 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,300 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $15,062 |
| Contributions, gifts, grants paid | $32,500 |
| Total expenses and disbursements | $47,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,858 |
| 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 | $223,627 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,115 |
| Total assets | $486,721 |
| 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, A D & A L Morgan Memorial Scholarship Fund has awarded $32,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
BERSAMMA JENNA PURPOSE: SCHOLARSHIP | $5,000 |
JENSON MARGUERITE PURPOSE: SCHOLARSHIP | $5,000 |
CUTHRELL JACOB PURPOSE: SCHOLARSHIP | $5,000 |
BASILIO JEREMIE PURPOSE: SCHOLARSHIP | $2,500 |
CROSBY MAKENDRA PURPOSE: SCHOLARSHIP | $2,500 |
BERSAMMA JANNA PURPOSE: SCHOLARSHIP | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
National Association Of Student Financial Aid Administrators Washington, DC | $22,189,727 | $10,008,615 |
Cobell Board Of Trustees Washington, DC | $177,171,131 | $17,842,265 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Catholic Education Foundation Inc Louisville, KY | $34,954,329 | $8,681,774 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
Maryland Philanthropy Network Inc Baltimore, MD | $5,808,264 | $5,920,100 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
Student Freedom Initiative Inc Washington, DC | $132,770,538 | $15,285,825 |
Meor Inc Silver Spring, MD | $283,304 | $5,067,456 |