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Nonprofiteer
← GLENDA G MORGAN CHARITABLE FOUNDATION INC

Form 990 for tax year 2023

Filed by GLENDA G MORGAN CHARITABLE FOUNDATION INC.

Totals

Total revenue
$1,182,953
Total expenses
$730,989
Contributions and grants received
$190,556
Grants paid
$345,360
Program service revenue
$0
Investment income
$996,702
Other revenue
-$4,305
Total assets, end of year
$18,702,638
Total liabilities, end of year
$550,000
Net assets or fund balances, end of year
$18,152,638
Program services expenses (Part IX)
$345,360
Management and general expenses
$385,629
Fundraising expenses
$0
Program service expenses (Part III)
$345,360

Program services were 47.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $190,556

  • 3 · Investment income

    total $833,677 · excluded $833,677

  • 7a · Gross sales of assets other than inventory

    securities $3,853,268

  • 7b · Less cost or other basis and sales expenses

    securities $3,690,243

  • 7c · Gain or loss

    securities $163,025

  • 7d · Net gain or loss

    total $163,025 · related or exempt $163,025

  • 11a · Other revenue: OTHER INCOME

    total -$4,305 · unrelated business -$4,305

  • 11e · Other revenue, total

    -$4,305

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $333,983 · program services $333,983

  • 3 · Grants to foreign organizations and individuals

    total $11,377 · program services $11,377

  • 5 · Compensation of officers, directors and key employees

    total $67,393 · management and general $67,393

  • 11b · Fees: legal

    total -$2,445 · management and general -$2,445

  • 11c · Fees: accounting

    total $2,715 · management and general $2,715

  • 13 · Office expenses

    total $2,158 · management and general $2,158

  • 16 · Occupancy

    total $18,000 · management and general $18,000

  • 20 · Interest

    total $177,807 · management and general $177,807

  • 23 · Insurance

    total $26,127 · management and general $26,127

  • 24a · Other expenses: INVESTMENT EXPENSES

    total $90,418 · management and general $90,418

  • 24b · Other expenses: FOREIGN TAXES

    total $2,738 · management and general $2,738

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $442 · management and general $442

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $200 · management and general $200

  • 24e · All other expenses

    total $76 · management and general $76

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $65,566 · end of year $37,101

  • 7 · Other notes and loans receivable

    beginning of year $7,650,000 · end of year $6,800,000

  • 12 · Investments: other securities

    beginning of year $11,938,168 · end of year $10,372,827

  • 15 · Other assets

    beginning of year $689,293 · end of year $1,492,710

  • 25 · Other liabilities

    beginning of year $3,250,000 · end of year $550,000

  • 27 · Net assets without donor restrictions

    beginning of year $17,093,027 · end of year $18,152,638

Mission and programs · 2023

Mission

THE ORGANIZATION IS OPERATED FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF ITS SUPPORTED ORGANIZATIONS.

  • THE ORGANIZATION PROVIDES FINANCIAL SUPPORT TO ITS SUPPORTED ORGANIZATIONS AND/OR TO OTHER PUBLIC CHARITIES, THE SUPPORT OF WHICH ARE WITHIN THE CHARITABLE PURPOSES OF ANY OF THE SUPPORTED ORGANIZATIONS, AS DETERMINED BY THE BOARD OF DIRECTORS OF THE ORGANIZATION.

    Expenses $345,360 · Grants $345,360

As filed on the 2023 return.

Listed in Part VII

  • Paul W Morgan

    PRESIDENT

    Total calculated
    $0
    Hours/week
    8

  • Mary Beth Morgan

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    40

  • John T Cash Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Edward Cole

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Denise Moriarty

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
16 May 2024
IRS schema version
2023v5.0
Source object
202421379349301332

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