Morselife Foundation Inc
- Assets
- $45.3m
- Revenue
- $7.3m
- Investments
- $17.3m
- Employees
- 18
- Location
- West Palm Beach, FL
- Founding
- 04/1988
- Data as of
- 05/2023
- EIN
- 59-2774476
Organization Overview
Morselife Foundation Inc is located in West Palm Beach, FL. The organization was established in 1988. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. As of 05/2023, Morselife Foundation Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morselife 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 05/2023, Morselife Foundation Inc generated $7.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $11.6m during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Morselife Foundation Inc has awarded 47 individual grants totaling $57,880,285. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT ALL AFFILIATED AGENCIES FOR THE PURPOSE OF ENHANCING SENIOR LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SOLICITS AND COLLECTS FUNDS FOR THE BENEFIT OF ITS AFFILIATED TAX-EXEMPT ENTITIES. THE FUNDS ARE GIVEN TO THE AFFILIATES IN SUPPORT OF THEIR TAX-EXEMPT PURPOSE OF PROVIDING SENIOR LIVING ACCOMODATIONS AND HEALTH SERVICES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Margolis President | OfficerTrustee | 2 | $0 |
Richard Rothschild Treasurer And Secretary | OfficerTrustee | 2 | $0 |
Terri C Sriberg Director | Trustee | 2 | $0 |
Stanley M Katz Director | Trustee | 2 | $0 |
Arthur S Loring President | Trustee | 2 | $0 |
Francine Kittredge Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morselife Health Systems Inc Management Services | 5/30/23 | $623,258 |
James Faucett Butterfly Tree Sculpture Project | 5/30/23 | $480,982 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,137,498 |
| Noncash contributions included in lines 1a–1f | $16,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,137,498 |
| Total Program Service Revenue | $0 |
| Investment income | $764,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $428,151 |
| Net Income from Fundraising Events | $16,750 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,346,823 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,090,894 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $966,651 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $483,173 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $40,562 |
| Payroll taxes | $91,819 |
| Fees for services: Management | $623,258 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,894 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $68,095 |
| Fees for services: Other | $139,002 |
| Advertising and promotion | $214,202 |
| Office expenses | $114,033 |
| Information technology | $42,923 |
| Royalties | $0 |
| Occupancy | $80,037 |
| Travel | $23,788 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,174 |
| Interest | $1,136,914 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $134,360 |
| Insurance | $62,306 |
| All other expenses | $0 |
| Total functional expenses | $11,597,642 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $371,435 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $11,253,266 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,344,118 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $97,491 |
| Net Land, buildings, and equipment | $2,342,486 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $17,318,708 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,618,574 |
| Total assets | $45,346,078 |
| Accounts payable and accrued expenses | $198,428 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,293,137 |
| Total liabilities | $32,491,565 |
| Net assets without donor restrictions | $8,785,058 |
| Net assets with donor restrictions | $4,069,455 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $45,346,078 |
Grants Awarded
Over the last fiscal year, Morselife Foundation Inc has awarded $7,060,216 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC PURPOSE: MISSION SUPPORT AND EVENTS | $3,031,798 |
MORSELIFE HOUSING CORPORATION INC PURPOSE: MISSION SUPPORT AND EVENTS | $1,338,813 |
MORSELIFE HOMECARE INC PURPOSE: MISSION SUPPORT AND EVENTS | $186,989 |
JOSEPH L MORSE HEALTH CENTER PURPOSE: MISSION SUPPORT AND EVENTS | $1,291,530 |
MORSELIFE HOSPICE INSTITUTE INC PURPOSE: MISSION SUPPORT AND EVENTS | $489,356 |
NEXT GENERATIONS OF HOLOCAUST SURVIVORS PURPOSE: MISSION SUPPORT AND EVENTS | $626,730 |