MORGAN MORTON FAMILY FOUNDATION INC: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
MORGAN MORTON FAMILY FOUNDATION INC (EIN 22-3770880)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-05-16
IRS object ID
202241369349104614
Schema version
2021v4.0
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)
Return2022-05-16T14:21:17-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

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 Begin2021-01-01TaxPeriodBeginDt

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
Signature2022-05-16SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstSAUNDERSPersonFirstNm
Person LastMORTONPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRAYMOND J KOWALIK CPAPreparerPersonNm
PTINP01711430PTIN
Phone9732067100PhoneNum
Preparation2022-05-16PreparationDt
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,593,963FMVAssetsEOYAmt
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$833InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$833InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$833InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$34,381DividendsRevAndExpnssAmt
Dividends Net Invst Incm$34,381DividendsNetInvstIncmAmt
Dividends Adj Net Incm$34,381DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$321,338NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,099,743GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$321,338CapGainNetIncmNetInvstIncmAmt
Net ST Capital Gain Adj Net Incm$27,636NetSTCapitalGainAdjNetIncmAmt
Total Rev And Expnss$356,552TotalRevAndExpnssAmt
Total Net Invst Incm$356,552TotalNetInvstIncmAmt
Total Adj Net Incm$62,850TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$1,680AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$1,680AccountingFeesNetInvstIncmAmt
Taxes Rev And Expnss$2,960TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$16,471OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$16,471OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$21,111TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$18,151TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$520,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$520,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$541,111TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$18,151TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$520,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$184,559ExcessRevenueOverExpensesAmt
Net Investment Income$338,401NetInvestmentIncomeAmt
Adjusted Net Income$62,850AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$35,860SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$166,555SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$166,555SavAndTempCashInvstEOYFMVAmt
Other Investments BOY$1,433,454OtherInvestmentsBOYAmt
Other Investments EOY$1,112,502OtherInvestmentsEOYAmt
Other Investments EOYFMV$1,427,408OtherInvestmentsEOYFMVAmt
Total Assets BOY$1,469,314TotalAssetsBOYAmt
Total Assets EOY$1,279,057TotalAssetsEOYAmt
Total Assets EOYFMV$1,593,963TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$1,469,314RetainedEarningBOYAmt
Retained Earning EOY$1,279,053RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,469,314TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,279,053TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,469,314TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,279,053TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,469,314TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$184,559ExcessRevenueOverExpensesAmt
Subtotal$1,284,755SubtotalAmt
Other Decreases$5,702OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$1,279,053TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (4 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
MORGAN STANELY 890001P$790,911$506,556$284,355$284,355
MORGAN STANELY 894391P$29,667$30,974-$1,307-$1,307
MORGAN STANELY 894391P$39,348$30,001$9,347$9,347
MORGAN STANELY 890001P$239,817$210,874$28,943$28,943
FieldValueIRS element (for citing)
Capital Gain Net Income$321,338CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$27,636NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$4,704InvestmentIncomeExciseTaxAmt
Subtotal$4,704SubtotalAmt
Tax Based On Investment Income$4,704TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$1,900EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$1,900TotalPaymentsAndCreditsAmt
Tax Due$2,804TaxDueAmt

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 GenfalseForm990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksS MORGAN MORTONIndividualWithBooksNm
Phone9732067100PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line19 OCEAN COURSE DRIVEAddressLine1Txt
CityKIAWAHCityNm
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$1,567,900AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$56,725AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,624,625TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$1,624,625AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$24,369CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,600,256NetVlNoncharitableAssetsAmt
Minimum Investment Return$80,013MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$80,013MinimumInvestmentReturnAmt
Tax Based On Investment Income$4,704TaxBasedOnInvestmentIncomeAmt
Total Tax$4,704TotalTaxAmt
Distributable Before Adj$75,309DistributableBeforeAdjAmt
Distributable Before Ded$75,309DistributableBeforeDedAmt
Distributable As Adjusted$75,309DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$520,000ExpensesAndContributionsAmt
Qualifying Distributions$520,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$75,309DistributableAsAdjustedAmt
Excess Distribution Cyov Yr3$140,311ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$347,868ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$119,046ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$607,225TotalExcessDistributionCyovAmt
Qualifying Distributions$520,000QualifyingDistributionsAmt
Applied To Current Year$75,309AppliedToCurrentYearAmt
Remaining Distri From Corpus$444,691RemainingDistriFromCorpusAmt
Total Corpus$1,051,916TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$1,051,916ExcessDistriCyovToNextYrAmt
Excess From Year3$140,311ExcessFromYear3Amt
Excess From Year2$347,868ExcessFromYear2Amt
Excess From Year1$119,046ExcessFromYear1Amt
Excess From Current Year$444,691ExcessFromCurrentYearAmt

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 (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
COASTAL COMMUNITY FOUNDATION OF SC
1691 TURNBILL AVENUENORTH CHARLESTONSC29405NONEPCCHARITABLE$500,000
TRIDENT UNITED WAY
6296 RIVERS AVE STE 200NORTH CHARLESTONSC29406NONEPCCHARITABLE$20,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$520,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$833ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$34,381ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$321,338ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$356,552ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$356,552TotalIncomeProducingActyAmt

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

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (2 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
MSSB-076890AT COST$1,032,502$1,334,388
MSSB-076894AT COST$80,000$93,020

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescOTHER DECREASEDesc
Amt$5,702Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
MSSB 076890 MGMT FEE$16,471$16,471

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmt
FOREIGN TAX - 076890
IRS TAX PAYMENTS$2,960

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