EIN 56-2462593

Morehead-Cain Scholarship Fund

IRS 501(c) type
501(c)(3)
Num. employees
0
Year formed
2004
Most recent tax filings
2022-06-01
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
$5,585,663
2022
Total expenses
$3,129,712
2022
Total assets
$57,055,868
2022
Num. employees
0
2022

Program areas at Morehead-Cain Scholarship Fund

The Fund disbursed $2,965,078 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 24.01% of the foundation's program expenses in fiscal year 2022 and helped provide full-cost scholarships, summer enrichment experiences and other developmental opportunities to 371 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 scholars program.

Grants made by Morehead-Cain Scholarship Fund

GranteeGrant descriptionAmount
Morehead-Cain FoundationTo Support Higher Education$2,965,078

Who funds Morehead-Cain Scholarship Fund

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$400,293
Dowd FoundationAssist Organizations With Its Needs and Goals$200,000
Schwab Charitable FundEducation$126,837
...and 8 more grants received

Personnel at Morehead-Cain Scholarship Fund

NameTitleCompensation
Charles E LovelaceExecutive Director$0
Steven R MichalakTreasurer$0
Jennifer Halsey EvansChair$0
Christopher J BradfordPresident$0
Philip E BerneyVice Chair$0

Financials for Morehead-Cain Scholarship Fund

RevenuesFYE 06/2022
Total grants, contributions, etc.$3,480,718
Program services$0
Investment income and dividends$3,951
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$2,100,994
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$5,585,663

Form 990s for Morehead-Cain Scholarship Fund

Fiscal year endingDate received by IRSFormPDF link
2022-062023-05-15990View PDF
2020-062021-05-05990View PDF
2019-062020-10-19990View PDF
2018-062019-08-17990View PDF
2017-062018-11-15990View PDF
...and 8 more Form 990s
Data update history
May 21, 2023
Updated personnel
Identified 2 new personnel
May 10, 2023
Received grants
Identified 2 new grant, including a grant for $10,000 from Triangle Community Foundation
April 5, 2022
Received grants
Identified 2 new grant, including a grant for $4,000 from The Augusta Brown Holland Philanthropic Foundation
November 9, 2021
Updated personnel
Identified 20 new personnel
September 24, 2021
Received grants
Identified 1 new grant, including a grant for $1,000 from The Bank of America Charitable Foundation
Nonprofit Types
Grantmaking organizationsSchoolsCharities
Issues
Education
Characteristics
Provides grantsEndowed supportTax deductible donationsNo full-time employees
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
Independent
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