EIN 56-2462593

Morehead-Cain Scholarship Fund

IRS 501(c) type
501(c)(3)
Num. employees
0
Year formed
2004
Most recent tax filings
2023-06-01
Description
The Morehead-Cain Scholarship Fund provides support for the Morehead-Cain Scholarship Program at the University of North Carolina at Chapel Hill. It disbursed $2,965,078 to the Morehead-Cain foundation, representing 24.01% of the foundation's financial support for the nation's oldest and most prestigious undergraduate merit scholarship program at UNC-Chapel Hill.
Also known as...
Morehead Scholarship Foundation
Total revenues
$7,535,675
2023
Total expenses
$3,611,540
2023
Total assets
$58,361,417
2023
Num. employees
0
2023

Program areas at Morehead-Cain Scholarship Fund

The Fund disbursed $3,325,922 to the Morehead-Cain foundation to support the nation's oldest and most prestigious undergraduate merit Scholarship program at the university of north carolina at chapel hill. This amount represented 25.92% of the foundation's program expenses in fiscal year 2023 and helped provide full-cost scholarships, summer enrichment experiences and other developmental opportunities to 357 of the country's most promising future leaders. The financial support provided by the Morehead-Cain Scholarship Fund is a vital and growing portion of the funds needed to sustain and enhance the Morehead-Cain program.
In 2023 the Morehead-Cain Scholarship Fund inaugurated a competitive grant opportunity for educators in north carolina who were identified and celebrated by current Morehead-Cain scholars and semifinalists for their positive impact on them and other future leaders.the impact educator discovery Fund is intended to inspire self-discovery, exploration, skill development, and professional growth. Its aim is to celebrate extraordinary teachers and to enable their continued investment in the young people of our state. Ideally iedf experiences are both restorative and productive, and recipients return to teaching feeling refreshed and prepared to share a new perspective or insight with their students and school community. In 2023, 25 iedf grants averaging just under $2,400 each were awarded to educators serving students in north carolina following a simple application and careful selection process. Each recipient committed to return to the education profession and was required to provide a report on their experience, what learning it enabled, and how it might impact their work as an educator going forward.

Grants made by Morehead-Cain Scholarship Fund

GranteeGrant descriptionAmount
The Morehead-Cain FoundationTo Support Higher Education$3,325,922

Who funds Morehead-Cain Scholarship Fund

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$233,560
Dowd FoundationAssist Organizations With Its Needs and Goals$200,000
Schwab Charitable FundEducation$148,600
...and 9 more grants received

Personnel at Morehead-Cain Scholarship Fund

NameTitleCompensation
Jesse SoloffVice President of Community
Charles E LovelaceExecutive Director$0
Tim CheneyDirector of Recruitment and Selection
Julie McCayEvents Manager
Steven R MichalakPast Treasurer$0
...and 4 more key personnel

Financials for Morehead-Cain Scholarship Fund

RevenuesFYE 06/2023
Total grants, contributions, etc.$5,047,421
Program services$0
Investment income and dividends$30,222
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$2,458,032
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$7,535,675

Form 990s for Morehead-Cain Scholarship Fund

Fiscal year endingDate received by IRSFormPDF link
2023-062024-05-13990View PDF
2022-062023-05-15990View PDF
2021-062022-05-16990View PDF
2020-062021-05-05990View PDF
2019-062020-10-19990View PDF
...and 10 more Form 990s

Organizations like Morehead-Cain Scholarship Fund

OrganizationLocationRevenue
The Foundation for City CollegeNew York, NY$27,910,258
James Madison University FoundationHarrisonburg, VA$21,589,923
Geneva College FoundationBeaver Falls, PA$5,524,299
Cardinal and Gold FundBronx, NY$3,210,136
Burger King FoundationMiami, FL$8,697,639
Michigan Tech FundHoughton, MI$20,705,355
University of New Orleans FoundationNew Orleans, LA$9,163,794
Pittsburg State University FoundationPittsburg, KS$10,071,570
Missouri Western State University FoundationSaint Joseph, MO$4,544,210
Central Lakes College FoundationBrainerd, MN$2,652,455
Data update history
July 14, 2024
Updated personnel
Identified 7 new personnel
July 8, 2024
Posted financials
Added Form 990 for fiscal year 2023
June 16, 2024
Updated personnel
Identified 1 new personnel
May 18, 2024
Received grants
Identified 2 new grant, including a grant for $40,000 from The Cleveland Foundation
December 28, 2023
Received grants
Identified 5 new grant, including a grant for $200,000 from Dowd Foundation
Nonprofit Types
Grantmaking organizationsSchoolsHeadquarter / parent organizationsCharities
Issues
Education
Characteristics
Provides grantsNational levelEndowed supportTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
Post Office Box 690
Chapel Hill, NC 27514
Metro area
Durham-Chapel Hill, NC
County
Orange County, NC
Website URL
moreheadcain.org/ 
Phone
(919) 962-1201
IRS details
EIN
56-2462593
Fiscal year end
June
Taxreturn type
Form 990
Year formed
2004
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B82: Scholarships, Student Financial Aid Services
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Central organization
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