Morehead Cain Foundation
- Assets
- $0.0
- Revenue
- $13.3m
- Investments
- $205.1m
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- 02/1948
- Data as of
- 06/2020
- EIN
- 56-0599225
Organization Overview
Morehead Cain Foundation is located in Chapel Hill, NC. The organization was established in 1948. 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. Morehead Cain 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 06/2020, Morehead Cain Foundation generated $13.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (19.0%) each year. All expenses for the organization totaled $12.3m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Morehead Cain Foundation has awarded 376 individual grants totaling $9,901,830. 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 |
|---|---|---|---|
Charles E Lovelace Jr Executive Director | 40 | $615,388 | |
Megan M Mazzocchi Associate Director | 40 | $203,796 | |
Steven R Michalak Treasurer | 40 | $203,796 | |
David B Greer Director Of Development | 40 | $174,292 | |
Brendan R Foley Director Of Communic | 40 | $117,620 | |
Julie G Devoe Director Of Scholar | 40 | $96,433 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,502,107 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,017,055 |
| Profit on Inventory Sales | $0 |
| Other Income | $154,743 |
| Total Revenue | $13,275,596 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,232,532 |
| Pension plans, employee benefits | $562,506 |
| Depreciation | $24,933 |
| Occupancy | $100,068 |
| Travel, conferences, and meetings | $65,065 |
| Printing and publications | $32,845 |
| Total operating and administrative expenses | $2,721,955 |
| Contributions, gifts, grants paid | $9,623,532 |
| Total expenses and disbursements | $12,345,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,255,639 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Other assets | $251,660 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $461,465 |
Grants Awarded
Over the last fiscal year, Morehead Cain Foundation has awarded $9,901,830 in support to 376 organizations.
| Grant Recipient | Amount |
|---|---|
UNC CHAPEL HILL - SCHOLARSHIP PROGRAM PURPOSE: SUPPORT AND PROMOTION OF THE MOREHEAD-CAIN SCHOLARS PROGRAM | $2,229,367 |
UNC CHAPEL HILL - MOREHEAD HOUSE MAINTENANCE PURPOSE: TO MAINTAIN FACILITY FOR DISTINGUISHED GUESTS | $108,140 |
SHI NAN FENG PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $45,901 |
HELENA ROSE WALSH PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $41,334 |
LUCY-ROSE DYSON PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $39,578 |
MARYAM HANA KHAN PURPOSE: SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $39,262 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Morehead Cain Foundation has recieved totaling $12,500.
| Awarding Organization | Amount |
|---|---|
Jewish Federation Of Greater Atlanta Inc Atlanta, GA PURPOSE: DONATIONS | $10,500 |
The C Eugene Ireland Foundation Birmingham, AL PURPOSE: GENERAL OPERATING | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |