Nonprofit · EIN 56-2462593
MOREHEAD SCHOLARSHIP FOUNDATION
Tax-exempt · CHAPEL HILL, NC 27514
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $6,053,774 | $7,792,924 | -$1,739,150 | $61,131,778 | $31,825 | $61,099,953 |
| June 30, 2024 | 990 | $9,339,120 | $9,990,182 | -$651,062 | $59,412,458 | $0 | $59,412,458 |
| June 30, 2023 | 990 | $7,535,675 | $3,611,540 | $3,924,135 | $58,361,417 | $0 | $58,361,417 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $3,239,825
- Program service revenue
- $0
- Investment income
- $2,813,949
- Net gain from sales of assets
- $2,595,461
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $7,534,562
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $7,792,924
Balance sheet and other
- Total assets, start of year
- $59,412,458
- Total assets, end of year
- $61,131,778
- Total liabilities, end of year
- $31,825
- Net assets, end of year
- $61,099,953
- Net assets without donor restrictions
- $55,570,437
- Net assets with donor restrictions
- $5,529,516
- Gross receipts
- $6,053,774
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2004
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| CHRISTOPHER J BRADFORD | PRESIDENT Officer | 2.5 | $0 | $493,059 | $18,230 |
| STEVEN R MICHALAK | TREASURER Officer | 2.5 | $0 | $240,824 | $10,900 |
| PHILIP E BERNEY | CHAIR Trustee or director, Officer | 2.5 | $0 | $0 | $0 |
| KATHERINE KIRBY DUNLEAVY | VICE CHAIR Trustee or director, Officer | 2.5 | $0 | $0 | $0 |
| ROBERT J BACH | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| CHESCA VARCOE COLLOREDO-MANSFELD | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| RACHELLE A FELDMAN | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| SHANA L FULTON | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| HARVEY L KENNEDY | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| JANORA MCDUFFIE-RYAN | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| DAVID S ROUTH | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| JENNIFER AYER SANDELL | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| RAYMOND D SAWYER | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| BRIAN G STRONG | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| OTIS E TILLMAN JR | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANTONIO URSANO JR | DIRECTOR Trustee or director | 2.5 | $0 |
| MADHULIKA VULIMIRI | DIRECTOR Trustee or director | 2.5 | $0 |
990 for the year ended June 30, 2024: 19 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| CHRISTOPHER J BRADFORD | PRESIDENT Officer | 2.5 | $0 | $467,051 | $17,460 |
| STEVEN R MICHALAK | TREASURER Officer | 2.5 | $0 | $308,462 | $12,811 |
| PHILIP E BERNEY | CHAIR Trustee or director, Officer | 2.5 | $0 | $0 | $0 |
| KATHERINE KIRBY DUNLEAVY | VICE CHAIR Trustee or director, Officer | 2.5 | $0 | $0 | $0 |
| ROBERT J BACH | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| RACHELLE A FELDMAN | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| SHANA L FULTON | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| HARVEY L KENNEDY | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| JANORA MCDUFFIE-RYAN | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| PAMELA ALSTON OLIVER | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| DAVID S ROUTH | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| JENNIFER AYER SANDELL | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| RAYMOND D SAWYER | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| MATTHEW L SOULE | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| ROBERT J SQUIRE | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| BRIAN G STRONG | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| OTIS E TILLMAN JR | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| ANTONIO URSANO JR | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| MADHULIKA VULIMIRI | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 23 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| CHRISTOPHER J BRADFORD | PRESIDENT Officer | 2.5 | $0 | $869,046 | $16,759 |
| STEVEN R MICHALAK | TREASURER Officer | 2.5 | $0 | $264,316 | $12,304 |
| PHILIP E BERNEY | CHAIR Trustee or director, Officer | 2.5 | $0 | $0 | $0 |
| KATHERINE KIRBY DUNLEAVY | VICE CHAIR Trustee or director, Officer | 2.5 | $0 | $0 | $0 |
| ROBERT J BACH | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| WILLIAM M DETMER | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| RACHELLE A FELDMAN | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| THOMAS C FREEMAN | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| SHANA L FULTON | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| BARBARA ROSSER HYDE | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| HARVEY L KENNEDY | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| JANORA MCDUFFIE | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| PAMELA ALSTON OLIVER | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| DAVID S ROUTH | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| RAYMOND D SAWYER | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| MATTHEW L SOULE | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| ROBERT J SQUIRE | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| BRIAN G STRONG | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| OTIS E TILLMAN JR | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| ANTONIO URSANO JR | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| MADHULIKA VULIMIRI | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| ANDREW J BUCHANAN | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
| KARINA VASUDEVA | DIRECTOR Trustee or director | 2.5 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 690, CHAPEL HILL, NC 27514-0690
- In care of
- % STEVEN R MICHALAK
- Principal officer (990 for 2024)
- STEVEN R MICHALAK, POST OFFICE BOX 690, CHAPEL HILL, NC 27514
- Signed the 990
- STEVEN R MICHALAK, TREASURER
- Phone
- (919) 962-1201
- Return prepared by
- BATCHELOR TILLERY & ROBERTS LLP
Mission
MOREHEAD-CAIN SCHOLARSHIP FUND PROVIDES SUPPORT FOR THE MOREHEAD-CAIN PROGRAM AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL.
Program accomplishments
- THE FUND DISBURSED $7,500,000 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 50.02% OF THE FOUNDATION'S PROGRAM EXPENSES IN FISCAL YEAR 2025 AND HELPED PROVIDE FULL-COST SCHOLARSHIPS, SUMMER ENRICHMENT EXPERIENCES AND OTHER DEVELOPMENTAL OPPORTUNITIES TO 398 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.Expenses $7,758,362 · grants $7,500,000
- THE MOREHEAD-CAIN SCHOLARSHIP FUND FACILITATES A COMPETITIVE GRANT OPPORTUNITY AMONG SECONDARY SCHOOL 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.BEGUN IN 2024, 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 SCHOOL LEADERS TO ENABLE THEIR CONTINUED INVESTMENT IN THE YOUNG PEOPLE OF OUR STATE. IDEALLY GRANT-ENABLED EXPERIENCES ARE BOTH RESTORATIVE AND PRODUCTIVE, AND RECIPIENTS RETURN TO TEACHING REFRESHED AND PREPARED TO SHARE A NEW PERSPECTIVE OR INSIGHT WITH THEIR STUDENTS AND SCHOOL COMMUNITY. IN 2025, 15 GRANTS AVERAGING UNDER $2,400 EACH WERE AWARDED TO EDUCATORS SERVING STUDENTS IN NORTH CAROLINA FOLLOWING AN 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.Expenses $34,562 · grants $34,562
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-2462593
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2004
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $61,131,778
- Income (IRS master file)
- $6,053,774
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $6,053,774 | $7,792,924 | $61,131,778 | XML |
| 990 | June 2024 | $9,339,120 | $9,990,182 | $59,412,458 | IRS |
| 990 | June 2023 | $7,535,675 | $3,611,540 | $58,361,417 | XML |
| 990 | June 2022 | $5,585,663 | $3,129,712 | $57,055,868 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-2462593).
Questions about MOREHEAD SCHOLARSHIP FOUNDATION
- What is the EIN of MOREHEAD SCHOLARSHIP FOUNDATION?
- The employer identification number (EIN) of MOREHEAD SCHOLARSHIP FOUNDATION is 56-2462593.
- Is MOREHEAD SCHOLARSHIP FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
- Are donations to MOREHEAD SCHOLARSHIP FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MOREHEAD SCHOLARSHIP FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MOREHEAD SCHOLARSHIP FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MOREHEAD SCHOLARSHIP FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of MOREHEAD SCHOLARSHIP FOUNDATION?
- The 990 for the year ended June 30, 2025 names STEVEN R MICHALAK.
- Who are the officers and directors of MOREHEAD SCHOLARSHIP FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 17 people; 0 received compensation from the organization.
- How much revenue does MOREHEAD SCHOLARSHIP FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $6,053,774, expenses of $7,792,924 and total assets of $61,131,778 at year end.
Other nonprofits in CHAPEL HILL
- UNC HEALTH FOUNDATION INC EIN 56-6057494 · last filed 990 for 2025
- KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION EIN 56-0771850 · last filed 990 for 2025
- PROJECT KITTY HAWK INC EIN 87-3871908 · last filed 990 for 2025
- UNIVERSITY OF NORTH CAROLINA CHAPEL HILL ARTS AND SCIENCES FOUNDATION EIN 56-1150509 · last filed 990 for 2025
- EDUCATION FOUNDATION SCHOLARSHIP ENDOWMENT TRUST EIN 56-6094839 · last filed 990 for 2025
- UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL FOUNDATION INC EIN 59-1711424 · last filed 990 for 2025
- MOREHEAD CAIN FOUNDATION EIN 56-0599225 · last filed 990-PF for 2025
- GENERAL ALUMNI ASSOC EIN 56-6000469 · last filed 990 for 2025