MOREHEAD-CAIN SCHOLARSHIP FUND (EIN 562462593) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

STEVEN R MICHALAK

Phone

9199621201

Tax Period

2024-07-01 to 2025-06-30

MOREHEAD-CAIN SCHOLARSHIP FUND, founded in 2004, is a community nonprofit in the Education sector that reported $6.1M in total revenue in fiscal year 2024. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $7.8M exceeded revenue, resulting in a 29% operating deficit.

Mission

MOREHEAD-CAIN SCHOLARSHIP FUND PROVIDES SUPPORT FOR THE MOREHEAD-CAIN PROGRAM AT UNC CHAPEL HILL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,239,825

Program Service Revenue $0

Investment Income $2,813,949

Other Revenue $0

TOTAL REVENUE $6,053,774

Expense Breakdown

Grants Paid $7,534,562

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,792,924

Other Expenses $258,362

TOTAL EXPENSES $7,792,924

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,053,774	$9,339,120	-0.4%
Expenses	$7,792,924	$9,990,182	-0.2%
Net Income	$-1,739,150	$-651,062	+1.7%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$763,013

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHILIP E BERNEY	CHAIR	2.50	Officer Director	$0	$0	$0
KATHERINE KIRBY DUNLEAVY	VICE CHAIR	2.50	Officer Director	$0	$0	$0
ROBERT J BACH	DIRECTOR	2.50	Director	$0	$0	$0
CHESCA VARCOE COLLOREDO-MANSFELD	DIRECTOR	2.50	Director	$0	$0	$0
RACHELLE A FELDMAN	DIRECTOR	2.50	Director	$0	$0	$0
SHANA L FULTON	DIRECTOR	2.50	Director	$0	$0	$0
HARVEY L KENNEDY	DIRECTOR	2.50	Director	$0	$0	$0
JANORA MCDUFFIE-RYAN	DIRECTOR	2.50	Director	$0	$0	$0
DAVID S ROUTH	DIRECTOR	2.50	Director	$0	$0	$0
JENNIFER AYER SANDELL	DIRECTOR	2.50	Director	$0	$0	$0
RAYMOND D SAWYER	DIRECTOR	2.50	Director	$0	$0	$0
BRIAN G STRONG	DIRECTOR	2.50	Director	$0	$0	$0
OTIS E TILLMAN JR	DIRECTOR	2.50	Director	$0	$0	$0
ANTONIO URSANO JR	DIRECTOR	2.50	Director	$0	$0	$0
MADHULIKA VULIMIRI	DIRECTOR	2.50	Director	$0	$0	$0
CHRISTOPHER J BRADFORD	PRESIDENT	2.50	Officer	$0	$18,230	$511,289
STEVEN R MICHALAK	TREASURER	2.50	Officer	$0	$10,900	$251,724

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$6,053,774	$7,792,924	$61,131,778	$-1,739,150
2024	$9,339,120	$9,990,182	$59,412,458	$-651,062
2023	$7,535,675	$3,611,540	$58,361,417	$3,924,135
2022	$5,585,663	$3,129,712	$57,055,868	$2,455,951
2021	$5,606,396	$2,874,069	$54,585,049	$2,732,327
2020	$3,979,572	$2,638,487	$39,200,307	$1,341,085
2019	$5,166,647	$2,459,797	$38,824,104	$2,706,850
2018	$5,219,834	$2,096,473	$35,331,928	$3,123,361

MOREHEAD-CAIN SCHOLARSHIP FUND