2024-05-13T09:53:11-05:00 2023-06-30 561750124 BATCHELOR TILLERY & ROBERTS LLP 3605 GLENWOOD AVENUE SUITE 350 RALEIGH NC 27612 990 2022-07-01 562462593 MOREHEAD-CAIN SCHOLARSHIP FUND MORE 9199621201 POST OFFICE BOX 690 CHAPEL HILL NC 27514 STEVEN R MICHALAK TREASURER 9199621201 2024-05-13 1 STEVEN MICHALAK 999009999 0 JARED L PILAND P01326291 9197878212 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z STEVEN R MICHALAK POST OFFICE BOX 690 CHAPEL HILL NC 27514 7535675 0 X N/A X 2004 NC MOREHEAD-CAIN SCHOLARSHIP FUND PROVIDES SUPPORT FOR THE MOREHEAD-CAIN PROGRAM AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL. 21 21 0 0 0 0 3480718 5047421 0 0 2104945 2488254 0 0 5585663 7535675 2965078 3385138 0 0 0 0 0 0 0 164634 226402 3129712 3611540 2455951 3924135 57055868 58361417 0 0 57055868 58361417 X MOREHEAD-CAIN SCHOLARSHIP FUND PROVIDES SUPPORT FOR THE MOREHEAD-CAIN PROGRAM AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL. 0 0 3552324 3325922 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. 59216 59216 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. 3611540 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CO MA MD MI NH OH OR SC X X STEVEN R MICHALAK 9199621201 POST OFFICE BOX 690 CHAPEL HILL NC 27514 PHILIP E BERNEY CHAIR 2.50 X X 0 0 0 KATHERINE KIRBY DUNLEAVY VICE CHAIR 2.50 X X 0 0 0 ROBERT J BACH DIRECTOR 2.50 X 0 0 0 WILLIAM M DETMER DIRECTOR 2.50 X 0 0 0 RACHELLE A FELDMAN DIRECTOR 2.50 X 0 0 0 THOMAS C FREEMAN DIRECTOR 2.50 X 0 0 0 SHANA L FULTON DIRECTOR 2.50 X 0 0 0 BARBARA ROSSER HYDE DIRECTOR 2.50 X 0 0 0 HARVEY L KENNEDY DIRECTOR 2.50 X 0 0 0 JANORA MCDUFFIE DIRECTOR 2.50 X 0 0 0 PAMELA ALSTON OLIVER DIRECTOR 2.50 X 0 0 0 DAVID S ROUTH DIRECTOR 2.50 X 0 0 0 RAYMOND D SAWYER DIRECTOR 2.50 X 0 0 0 MATTHEW L SOULE DIRECTOR 2.50 X 0 0 0 ROBERT J SQUIRE DIRECTOR 2.50 X 0 0 0 BRIAN G STRONG DIRECTOR 2.50 X 0 0 0 OTIS E TILLMAN JR DIRECTOR 2.50 X 0 0 0 ANTONIO URSANO JR DIRECTOR 2.50 X 0 0 0 MADHULIKA VULIMIRI DIRECTOR 2.50 X 0 0 0 ANDREW J BUCHANAN DIRECTOR 2.50 X 0 0 0 KARINA VASUDEVA DIRECTOR 2.50 X 0 0 0 CHRISTOPHER J BRADFORD PRESIDENT 2.50 40.00 X 0 869046 16759 STEVEN R MICHALAK TREASURER 2.50 40.00 X 0 264316 12304 0 1133362 29063 0 0 1 0 0 5047421 99893 5047421 30222 30222 2458032 0 2458032 2458032 2458032 7535675 0 0 2488254 3325922 3325922 59216 59216 216707 216707 9695 9695 3611540 3611540 0 0 3501284 4256525 1523411 1039671 52031173 53065221 57055868 58361417 0 0 X 51526352 52831901 5529516 5529516 57055868 58361417 57055868 58361417 3924135 -2618586 0 X 0 1 X 1 0 X 3606395 2274387 3771430 3480718 5047421 18180351 3606395 2274387 3771430 3480718 5047421 18180351 6761942 11418409 34873 17888 966 3951 30222 87900 18268251 0.62500 0.68920 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 53554584 5047421 -1111975 3385138 54104892 51426239 3480718 1612705 2965078 53554584 36189852 3771430 14189003 2724046 51426239 35833070 2274387 584462 2502067 36189852 32658779 3606395 1907830 2339934 35833070 0.89780 0.10220 0 0 0 UNIV. OF NC INVESTMENT FUND 53065221 F 53065221 X 5484814 -2618586 784432 -1834154 7318968 216707 216707 7535675 4179265 784432 784432 3394833 216707 216707 3611540 PART V, LINE 4: THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE TO PROVIDE SUPPORT FOR THE MOREHEAD-CAIN PROGRAM AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL. PART X, LINE 2: THE FUND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUTES. THE FUND IS FURTHER CLASSIFIED AS A PUBLIC CHARITY BASED ON ITS EXPECTED BROAD PUBLIC SUPPORT. 1 THE MOREHEAD-CAIN FOUNDATION 222 E FRANKLIN STREET CHAPEL HILL NC 27514 560599225 501(C)(3) 3325922 0 TO SUPPORT HIGHER EDUCATION DISCOVERY FUND GRANTS FOR IMPACT EDUCATORS 25 59216 0 0 0 0 0 0 0 0 0 CHRISTOPHER J BRADFORD PRESIDENT 0 869046 0 0 0 0 0 0 0 16759 0 885805 0 0 STEVEN R MICHALAK TREASURER 0 264316 0 0 0 0 0 0 0 12304 0 276620 0 0 PART I, LINE 3 OFFICER COMPENSATION MR. BRADFORD AND MR. MICHALAK, AS PRESIDENT AND TREASURER, RESPECTIVELY, OF THE MOREHEAD-CAIN FOUNDATION, EFFECTIVELY FULFILL THOSE SAME STAFF ROLES FOR THE MOREHEAD-CAIN SCHOLARSHIP FUND BY VIRTUE OF ITS BEING A RELATED ORGANIZATION. MR. BRADFORD AND MR. MICHALAK ARE EMPLOYED SOLELY BY THE MOREHEAD-CAIN FOUNDATION AND ACCORDINGLY THEIR COMPENSATION IS ESTABLISHED AND REVIEWED BY THAT ORGANIZATION'S BOARD OF TRUSTEES. X 19 99893 STOCK QUOTE 0 0 1 PART I, LINE 32B: THIRD PARTY ASSISTANCE FOR SALES OF NON-CASH CONTRIBUTIONS THE ORGANIZATION UTILIZES AN UNRELATED THIRD PARTY STOCK BROKERAGE FIRM TO PROCESS ALL SALES ORDERS FOR ALL PUBLICLY TRADED SECURITIES RECEIVED AS CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS: THE MOREHEAD-CAIN SCHOLARSHIP FUND'S FORM 990 WAS COMPLETED BY A QUALIFIED AND AUTHORIZED PUBLIC ACCOUNTING FIRM UNDER THE DIRECTION OF THE TREASURER. THE COMPLETED RETURN WAS REVIEWED BY THE PRESIDENT AND TREASURER AND THEN PRESENTED TO THE FUND'S BOARD OF DIRECTORS PRIOR TO ITS FILING WITH THE IRS. THE TREASURER AND/OR THE OUTSIDE ACCOUNTING FIRM ARE AVAILABLE FOR QUESTIONS FROM THE BOARD OR TO REVIEW THE FORM 990 IN DETAIL AT A SUBSEQUENT REGULARLY SCHEDULED BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C MONITORING CONFLICTS OF INTEREST: THE MOREHEAD-CAIN SCHOLARSHIP FUND REGULARLY DISCLOSES TO ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES ANY ENTITIES WITH WHICH THE FUND HAS A SIGNIFICANT BUSINESS INTEREST AND TAKES ANY APPROPRIATE ACTION REGARDING CONFLICTS ACCORDING TO ITS POLICY STATEMENT ON ETHICAL CONDUCT AND IMPROPER ACTIVITIES. THE POLICY STATEMENT ON ETHICAL CONDUCT AND IMPROPER ACTIVITIES IS REVIEWED ANNUALLY WITH ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES OF THE FUND. FORM 990, PART VI, SECTION C, LINE 19 MAKING INFORMATION AVAILABLE TO THE PUBLIC: THE MOREHEAD-CAIN SCHOLARSHIP FUND'S FORM 990 IS AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG, WHERE IT IS CONFIRMED TO BE WIDELY AVAILABLE. THE FUND'S GOVERNING DOCUMENTS WHICH ARE REQUIRED BY LAW TO BE PUBLICLY AVAILABLE (IF ANY), CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR INSPECTION AT OUR PRIMARY BUSINESS LOCATION DURING NORMAL BUSINESS HOURS. COPIES OF THE ABOVE DOCUMENTS MAY ALSO BE PROVIDED, UPON REQUEST, FOR A REASONABLE FEE TO DEFRAY COPYING AND POSTAGE EXPENSE. THE MOREHEAD-CAIN FOUNDATION PO BOX 690 CHAPEL HILL NC 27514 560599225 SCHOLARSHIPS NC 501(C)(3) PF N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0