Morehead Scholarship Foundation

Analysis

Morehead Scholarship Foundation is a registered charity in United States, based in Chapel Hill, NC. It received its IRS tax-exemption ruling in July 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Morehead Scholarship Foundation reported income of $7.5m and spending of $3.6m, leaving 52% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.2m to $7.5m (+46%), an average of +9.9% a year. The sharpest change came in the year to June 2021, when income rose by 41%. Over the whole period it spent 53% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Morehead Scholarship Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NC. Charities of a similar size with the same main cause include University Lake School Inc ($7.5m), Icahn Charter School 6 ($7.5m) and Local Progress Policy Institute ($7.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% of the total. At year end it held assets of $58.4m against liabilities of $0, net assets of $58.4m.