Morgan Foundation Inc

Laurel Hill, NC
Tax-exempt since Oct. 1992
EIN: 56-1790979

Receive an email when new data is available for this organization.

Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Revenue

$140k (2024)

Expenses

$154k (2024)

Total Assets

$1.56M (2024)

Total Liabilities

$740 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$140,019

Expenses

$153,826

Net Income

-$13,807

Net Assets

$1,560,305

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$7,057	5.0%
Dividends	$49,643	35.5%
Sales of Assets	$83,253	59.5%
Other Income	$66	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$137,436	89.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,561,045
Total Liabilities	$740
Net Assets	$1,560,305

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0
Melinda M Mejia (Vice President & Director)	$0	$0
Matthew M Morgan (Director)	$0	$0
Colin K Anderson (Director)	$0	$0

+ View more people

990-PF

Filed on June 13, 2025

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2023

Revenue

$46,730

Expenses

$138,640

Net Income

-$91,910

Net Assets

$1,574,112

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$7,407	15.9%
Dividends	$43,384	92.8%
Sales of Assets	-$4,061
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$122,687	88.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,574,112
Total Liabilities	$0
Net Assets	$1,574,112

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Director)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0
Melinda M Mejia (Vice President & Director)	$0	$0
Matthew M Morgan (Director)	$0	$0
Colin K Anderson (Director)	$0	$0

+ View more people

990-PF

Filed on May 15, 2024

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$69,202

Expenses

$169,695

Net Income

-$100,493

Net Assets

$1,666,022

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,835	2.7%
Dividends	$33,444	48.3%
Sales of Assets	$33,864	48.9%
Other Income	$59	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$151,474	89.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,666,022
Total Liabilities	$0
Net Assets	$1,666,022

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Director)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0
Melinda M Mejia (Vice President & Director)	$0	$0
Matthew M Morgan (Director)	$0	$0
Colin K Anderson (Director)	$0	$0

+ View more people

990-PF

Filed on May 15, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2021

Revenue

$210,161

Expenses

$159,309

Net Income

$50,852

Net Assets

$1,766,515

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,055	0.5%
Dividends	$36,583	17.4%
Sales of Assets	$172,523	82.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$141,315	88.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,767,217
Total Liabilities	$702
Net Assets	$1,766,515

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Director)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0

+ View more people

990-PF

Filed on Oct. 17, 2022

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$176,289

Expenses

$127,602

Net Income

$48,687

Net Assets

$1,715,663

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,912	1.1%
Dividends	$30,549	17.3%
Sales of Assets	$143,466	81.4%
Other Income	$362	0.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$111,040	87.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,716,363
Total Liabilities	$700
Net Assets	$1,715,663

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Dire)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0

+ View more people

990-PF

Filed on May 13, 2021

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$152,615

Expenses

$120,143

Net Income

$32,472

Net Assets

$1,666,975

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,719	2.4%
Dividends	$33,516	22.0%
Sales of Assets	$114,999	75.4%
Other Income	$381	0.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$104,961	87.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,666,976
Total Liabilities	$1
Net Assets	$1,666,975

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Dire)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0

+ View more people

990-PF

Filed on July 15, 2020

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2018

Revenue

$102,322

Expenses

$120,500

Net Income

-$18,178

Net Assets

$1,634,504

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,119	3.0%
Dividends	$40,516	39.6%
Sales of Assets	$52,087	50.9%
Other Income	$6,600	6.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$103,457	85.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,638,984
Total Liabilities	$4,480
Net Assets	$1,634,504

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Dire)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0

+ View more people

990-PF

Filed on Sept. 13, 2019

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2017

Revenue

$199,657

Expenses

$113,615

Net Income

$86,042

Net Assets

$1,652,682

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,911	1.5%
Dividends	$46,178	23.1%
Sales of Assets	$149,116	74.7%
Other Income	$1,452	0.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$91,495	80.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,652,682
Total Liabilities	$0
Net Assets	$1,652,682

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Dire)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0

+ View more people

990-PF

Filed on Nov. 15, 2018

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2016

Revenue

$4,921

Expenses

$142,271

Net Income

-$137,350

Net Assets

$1,566,640

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,163	64.3%
Dividends	$39,111	> 100%
Sales of Assets	-$38,863
Other Income	$1,510	30.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$128,654	90.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,566,640
Total Liabilities	$0
Net Assets	$1,566,640

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Dire)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0

+ View more people

990-PF

Filed on Nov. 13, 2017

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$132,522

Expenses

$634,981

Net Income

-$502,459

Net Assets

$1,703,990

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,241	2.4%
Dividends	$47,533	35.9%
Sales of Assets	$81,314	61.4%
Other Income	$434	0.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$620,875	97.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,706,490
Total Liabilities	$2,500
Net Assets	$1,703,990

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Dire)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0

+ View more people

990-PF

Filed on Aug. 15, 2016

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2014

Revenue

$197,083

Expenses

$607,461

Net Income

-$410,378

Net Assets

$2,206,449

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$29,726	15.1%
Dividends	$54,554	27.7%
Sales of Assets	$112,529	57.1%
Other Income	$274	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$588,865	96.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,206,449
Total Liabilities	$0
Net Assets	$2,206,449

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Dire)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0

+ View more people

990-PF

Filed on May 7, 2015

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2013

Revenue

$198,873

Expenses

$755,898

Net Income

-$557,025

Net Assets

$2,616,827

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$27,563	13.9%
Dividends	$54,516	27.4%
Sales of Assets	$116,630	58.6%
Other Income	$164	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$734,394	97.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,616,827
Total Liabilities	$0
Net Assets	$2,616,827

Compensation

Key Employees and Officers	Compensation	Other
James L Morgan Jr (Chairman, President & Dire)	$0	$0
Elizabeth E Morgan (Vice President & Director)	$0	$0
Tammy C Ivey (Secretary & Treasurer)	$0	$0
Susan M Farrell (Director)	$0	$0

+ View more people

990-PF

Filed on Aug. 15, 2014

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$279,730

Expenses

$679,401

Net Income

-$399,671

Net Assets

$3,173,852

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$33,436	12.0%
Dividends	$73,056	26.1%
Sales of Assets	$161,333	57.7%
Other Income	$11,905	4.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$641,607	94.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,173,852
Total Liabilities	$0
Net Assets	$3,173,852

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$272,140

Expenses

$596,004

Net Income

-$323,864

Net Assets

$3,573,523

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$35	0.0%
Dividends	$126,549	46.5%
Sales of Assets	$123,772	45.5%
Other Income	$21,784	8.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$546,080	91.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,573,523
Total Liabilities	$0
Net Assets	$3,573,523

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending April
2003

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending April
2002

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

See an issue with the data?

Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

By Andrea Suozzo, Alec Glassford, Ash Ngu and Brandon Roberts.

Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated January 26, 2026

Morgan Foundation Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $140k (2024)

Expenses $154k (2024)

Total Assets $1.56M (2024)

Total Liabilities $740 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$140k (2024)

Expenses

$154k (2024)

Total Assets

$1.56M (2024)

Total Liabilities

$740 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending April
2010

Fiscal Year Ending April
2009

Fiscal Year Ending April
2008

Fiscal Year Ending April
2007

Fiscal Year Ending April
2006

Fiscal Year Ending April
2005

Fiscal Year Ending April
2004

Fiscal Year Ending April
2003

Fiscal Year Ending April
2002