Morgan County Foundation Inc

Analysis

Morgan County Foundation Inc is a registered charity in United States, based in Madison, GA. It received its IRS tax-exemption ruling in November 1967, 59 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Morgan County Foundation Inc reported income of $1.6m and spending of $861k, leaving 45% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $588k to $1.6m (+164%), an average of +28% a year. The sharpest change came in the year to June 2023, when income rose by 80%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Morgan County Foundation Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within GA. Charities of a similar size with the same main cause include Tectonic Theater Project Inc ($1.6m), Church Street School for Music and Art ($1.6m) and Kala Institute ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $85k (9.9% of expenses). Other salaries and wages came to $241k. At year end it held assets of $3.4m against liabilities of $169k, net assets of $3.3m. It reported 17 employees.