MORGAN MORTON FAMILY FOUNDATION INC: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
MORGAN MORTON FAMILY FOUNDATION INC (EIN 22-3770880)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-05-14
IRS object ID
202521349349101362
Schema version
2024v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-05-14T09:32:53-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN473297514PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BEACON TRUSTBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1163 MADISON AVE STE 600AddressLine1Txt
CityMORRISTOWNCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07960ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN223770880EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE MORGAN MORTON FAMILY FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlMORGBusinessNameControlTxt
Phone9732067100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line19 OCEAN COURSE DRIVEAddressLine1Txt
CityKIAWAH ISLANDCityNm
State AbbreviationSCStateAbbreviationCd
ZIP29455ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSAUNDERS MORGAN MORTONPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone9087812489PhoneNum
Signature2025-05-12SignatureDt
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCYNTHIA FUSILLOPreparerPersonNm
PTINP00236386PTIN
Phone9732067100PhoneNum
Preparation2025-05-12PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,387,333FMVAssetsEOYAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$20,586InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$20,586InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$20,586InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$19,157DividendsRevAndExpnssAmt
Dividends Net Invst Incm$19,157DividendsNetInvstIncmAmt
Dividends Adj Net Incm$19,157DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$106,406NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$404,366GrossSalesPriceAmt
Other Income Rev And Expnss$349OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$349OtherIncomeNetInvstIncmAmt
Other Income Adj Net Incm$349OtherIncomeAdjNetIncmAmt
Total Rev And Expnss$146,498TotalRevAndExpnssAmt
Total Net Invst Incm$40,092TotalNetInvstIncmAmt
Total Adj Net Incm$40,092TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$1,680AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$1,680AccountingFeesNetInvstIncmAmt
Taxes Rev And Expnss$1,580TaxesRevAndExpnssAmt
Taxes Net Invst Incm$1,580TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$14,477OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$14,477OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$17,737TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$17,737TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$320,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$320,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$337,737TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$17,737TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$320,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$191,239ExcessRevenueOverExpensesAmt
Net Investment Income$22,355NetInvestmentIncomeAmt
Adjusted Net Income$40,092AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$59,964SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$79,786SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$79,786SavAndTempCashInvstEOYFMVAmt
Other Investments BOY$1,121,738OtherInvestmentsBOYAmt
Other Investments EOY$911,140OtherInvestmentsEOYAmt
Other Investments EOYFMV$1,307,547OtherInvestmentsEOYFMVAmt
Total Assets BOY$1,181,702TotalAssetsBOYAmt
Total Assets EOY$990,926TotalAssetsEOYAmt
Total Assets EOYFMV$1,387,333TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$1,181,702RetainedEarningBOYAmt
Retained Earning EOY$990,926RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,181,702TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$990,926TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,181,702TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$990,926TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,181,702TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$191,239ExcessRevenueOverExpensesAmt
Other Increases$463OtherIncreasesAmt
Subtotal$990,926SubtotalAmt
Tot Net Ast Or Fund Balances EOY$990,926TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$311InvestmentIncomeExciseTaxAmt
Subtotal$311SubtotalAmt
Tax Based On Investment Income$311TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$4,034EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$4,034TotalPaymentsAndCreditsAmt
Overpayment$3,723OverpaymentAmt
Applied To ES Tax$3,723AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNJOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksSAUNDERS MORGAN MORTONIndividualWithBooksNm
Phone9732067100PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line19 OCEAN COURSE DRIVEAddressLine1Txt
CityKIAWAH ISLANDCityNm
State AbbreviationSCStateAbbreviationCd
ZIP29455ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (4 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
SAUNDERS MORGAN MORTON
9 OCEAN COURSE DRIVEKIAWAH ISLANDSC29455PRESIDENT000.00$0$0$0
JOANNE MORTON
9 OCEAN COURSE DRIVEKIAWAH ISLANDSC29455DIRECTOR000.00$0$0$0
MARJORIE ADAMS
276 CARRUTH DRMARIETTAGA30060DIRECTOR000.00$0$0$0
JEFFREY MORTON
PO BOX 2986TYBEE ISLANDGA31328DIRECTOR000.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$1,327,017AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$71,555AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,398,572TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$1,398,572AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$20,979CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,377,593NetVlNoncharitableAssetsAmt
Minimum Investment Return$68,880MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$68,880MinimumInvestmentReturnAmt
Tax Based On Investment Income$311TaxBasedOnInvestmentIncomeAmt
Total Tax$311TotalTaxAmt
Distributable Before Adj$68,569DistributableBeforeAdjAmt
Distributable Before Ded$68,569DistributableBeforeDedAmt
Distributable As Adjusted$68,569DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$320,000ExpensesAndContributionsAmt
Qualifying Distributions$320,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$68,569DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$347,868ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$119,046ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$444,691ExcessDistributionCyovYr3Amt
Total Excess Distribution Cyov$911,605TotalExcessDistributionCyovAmt
Qualifying Distributions$320,000QualifyingDistributionsAmt
Applied To Current Year$68,569AppliedToCurrentYearAmt
Remaining Distri From Corpus$251,431RemainingDistriFromCorpusAmt
Total Corpus$1,163,036TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$347,868ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$815,168ExcessDistriCyovToNextYrAmt
Excess From Year4$119,046ExcessFromYear4Amt
Excess From Year3$444,691ExcessFromYear3Amt
Excess From Current Year$251,431ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerS MORGAN MORTONContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Form And Info And MaterialsAN APPLICATION SHOULD BE IN WRITING, DESCRIBING IN DETAIL THE PROJECT FOR WHICH FUNDING IS REQUESTEDFormAndInfoAndMaterialsTxt
Submission DeadlinesNONESubmissionDeadlinesTxt
Restrictions On AwardsTHERE ARE NO RESTRICTIONS OR LIMITATIONS ON AWARDSRestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
KIAWAH CARES
23 BEACHWALKER DRIVEKIAWAH ISLANDSC29455NONEPCCHARITABLE$20,000
COASTAL COMMUNITY FOUNDATION
1691 TURNBULL AVENUENORTH CHARLESTONSC29405NONEPCCHARITABLE$250,000
UNIVERSITY OF MEMPHIS FOUNDATION
635 NORMAL STREETMEMPHISTN38152NONEPCCHARITABLE$50,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$320,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$20,586ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$19,157ExclusionAmt

Other Investment Income OtherInvestmentIncomeGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$349ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Related Or Exempt Function Incm$106,406RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$40,092ExclusionAmt
Related Or Exempt Function Incm$106,406RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$146,498TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryTAX PREPARATIONCategoryTxt
Amt$1,680Amt
Net Investment Income$1,680NetInvestmentIncomeAmt

Expln Of Non Filing With AG Stmt ExplnOfNonFilingWithAGStmt

FieldValueIRS element (for citing)
ExplanationTHE NEW JERSEY CRI ACT PERMITS CHARITABLE ORGANIZATIONS RECEIVING ANNUAL GROSS CONTRIBUTIONS OF 10,000 OR LESS TO CHOOSE WHETHER OR NOT THEY WISH TO MAINTAIN A REGISTRATION WITH THE CHARITABLE REGISTRATION SECTION AS LONG AS LONG AS THEY DO NOT USE A PROFESSIONAL FUNDRAISER. SINCE THE FOUNDATION'S CONTRIBUTIONS WERE LESS THAN 10,000, THEY ARE NOT REQUIRED TO FILE WITH THE STATE OF NEW JERSEY.ExplanationTxt

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (3 entries)

AssetAssetDescHow AcquiredHowAcquiredTxtSoldSoldDtGross Sales PriceGrossSalesPriceAmtBasisBasisAmtTotal NetTotalNetAmt
MORGAN STANLEY 076890 001PURCHASE2024-12$33,130$27,477$5,653
MORGAN STANLEY 076890 001PURCHASE2024-12$302,591$215,382$87,209
MORGAN STANLEY 076890 001PURCHASE2024-12$68,645$55,101$13,544

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (2 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
MSSB-076890AT COST$861,140$1,255,857
MSSB-076894AT COST$50,000$51,690

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
MSSB 076890 MGMT FEE$14,477$14,477

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescMSSB 076890Desc
Revenue And Expenses Per Books$349RevenueAndExpensesPerBooksAmt
Net Investment Income$349NetInvestmentIncomeAmt
Adjusted Net Income$349AdjustedNetIncomeAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescBOOK ADJUSTMENTDesc
Amt$463Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmt
FOREIGN TAX - 076890$76$76
NJ FILING FEE$33$33
SC PRIOR YEAR$1,471$1,471

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