MOREHEAD-CAIN SCHOLARSHIP FUND

EIN: 562462593 501(c)(3) Education

CHAPEL HILL, NC

Total Revenue
$6,053,774
Total Expenses
$7,792,924
Total Assets
$61,131,778
Net Assets
$61,099,953
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
NC
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 THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL.

Program Service Accomplishments

Program 1
Expenses: $7,758,362

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...

Read more

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.

Program 2
Expenses: $34,562

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...

Read more

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.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

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
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
15
Independent Members
15
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
4
$763,013
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
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
Explore More Nonprofits
Top 100 Nonprofits in North Carolina Largest U.S. Nonprofits Best Rated Nonprofits Most Efficient Nonprofits

Compare MOREHEAD-CAIN SCHOLARSHIP FUND with other nonprofits in North Carolina and across the country.