Civic Intelligence

Community Foundation of Morgan County

EIN 35-1956929 • 501(c)3 • Martinsville, IN

Profile

The community foundation of morgan county, inc. Works with our citizens to enhance the quality of life for current and future generations of morgan county, indiana. We accept gifts, manage financial resources, make grants, and provide scholarships.

PO Box 1413Martinsville, IN 46151

www.cfmconline.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

39th percentile

0.10x

Higher debt load relative to assets than 39% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

63rd percentile

0.38x

Higher debt load relative to revenue than 63% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

91st percentile

57%

Higher net margin than 91% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

83rd percentile

21%

Faster asset growth than 83% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

96th percentile

208%

Faster revenue growth than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$13,499,689

Up $2,329,083 (+21%) from 2023

Liabilities

Down

$1,285,949

Down $39,180 (-3.0%) from 2023

Net Assets

Up

$12,213,740

Up $2,368,263 (+24%) from 2023

Revenue

Up

$3,346,729

Up $2,261,689 (+208%) from 2023

Expenses

Up

$1,447,861

Up $231,228 (+19%) from 2023

Net Income

Up

$1,898,868

Up $2,030,461 (+1543%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $6,150,910Liabilities 2010: $826,026Net Assets 2010: $5,324,8842010Assets 2011: $5,796,930Liabilities 2011: $767,458Net Assets 2011: $5,029,4722011Assets 2012: $5,838,928Liabilities 2012: $610,997Net Assets 2012: $5,227,9312012Assets 2013: $6,981,178Liabilities 2013: $950,727Net Assets 2013: $6,030,4512013Assets 2014: $7,907,069Liabilities 2014: $1,741,060Net Assets 2014: $6,166,0092014Assets 2015: $7,862,729Liabilities 2015: $905,170Net Assets 2015: $6,957,5592015Assets 2016: $7,880,027Liabilities 2016: $831,376Net Assets 2016: $7,048,6512016Assets 2017: $8,470,167Liabilities 2017: $741,405Net Assets 2017: $7,728,7622017Assets 2018: $8,149,185Liabilities 2018: $1,427,063Net Assets 2018: $6,722,1222018Assets 2019: $10,064,869Liabilities 2019: $1,657,380Net Assets 2019: $8,407,4892019Assets 2020: $10,884,153Liabilities 2020: $1,722,925Net Assets 2020: $9,161,2282020Assets 2021: $12,204,312Liabilities 2021: $1,534,444Net Assets 2021: $10,669,8682021Assets 2022: $10,386,986Liabilities 2022: $1,277,709Net Assets 2022: $9,109,2772022Assets 2023: $11,170,606Liabilities 2023: $1,325,129Net Assets 2023: $9,845,4772023Assets 2024: $13,499,689Liabilities 2024: $1,285,949Net Assets 2024: $12,213,7402024

Highlighted filing

2024

Assets$13,499,689
Liabilities$1,285,949
Net Assets$12,213,740

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,013,5102010Expenses 2011: $1,127,1462011Expenses 2012: $1,800,3632012Revenue 2013: $1,800,100Expenses 2013: $1,330,980Net Income 2013: $469,1202013Revenue 2014: $2,270,226Expenses 2014: $1,896,644Net Income 2014: $373,5822014Revenue 2015: $3,274,237Expenses 2015: $2,217,715Net Income 2015: $1,056,5222015Revenue 2016: $1,926,647Expenses 2016: $1,873,683Net Income 2016: $52,9642016Revenue 2017: $2,061,722Expenses 2017: $1,457,699Net Income 2017: $604,0232017Revenue 2018: $791,051Expenses 2018: $1,050,634Net Income 2018: -$259,5832018Revenue 2019: $1,802,679Expenses 2019: $1,140,413Net Income 2019: $662,2662019Revenue 2020: $1,392,321Expenses 2020: $1,300,351Net Income 2020: $91,9702020Revenue 2021: $1,729,662Expenses 2021: $1,284,104Net Income 2021: $445,5582021Revenue 2022: $1,220,402Expenses 2022: $1,287,049Net Income 2022: -$66,6472022Revenue 2023: $1,085,040Expenses 2023: $1,216,633Net Income 2023: -$131,5932023Revenue 2024: $3,346,729Expenses 2024: $1,447,861Net Income 2024: $1,898,8682024

Highlighted filing

2024

Revenue$3,346,729
Expenses$1,447,861
Net Income$1,898,868

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.5$1.29$12.2$3.35$1.45$1.90
2023Detailed filing. Detailed filing data is available for this year.$11.2$1.33$9.85$1.09$1.22$0.13
2022Detailed filing. Detailed filing data is available for this year.$10.4$1.28$9.11$1.22$1.29$0.07
2021Detailed filing. Detailed filing data is available for this year.$12.2$1.53$10.7$1.73$1.28$0.45
2020Detailed filing. Detailed filing data is available for this year.$10.9$1.72$9.16$1.39$1.30$0.09
2019Detailed filing. Detailed filing data is available for this year.$10.1$1.66$8.41$1.80$1.14$0.66
2018Detailed filing. Detailed filing data is available for this year.$8.15$1.43$6.72$0.79$1.05$0.26
2017Detailed filing. Detailed filing data is available for this year.$8.47$0.74$7.73$2.06$1.46$0.60
2016Detailed filing. Detailed filing data is available for this year.$7.88$0.83$7.05$1.93$1.87$0.05
2015Detailed filing. Detailed filing data is available for this year.$7.86$0.91$6.96$3.27$2.22$1.06
2014Detailed filing. Detailed filing data is available for this year.$7.91$1.74$6.17$2.27$1.90$0.37
2013Detailed filing. Detailed filing data is available for this year.$6.98$0.95$6.03$1.80$1.33$0.47
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.84$0.61$5.23$1.80
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.80$0.77$5.03$1.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.15$0.83$5.32$1.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 10, 2025
Return Version
2024v5.2
Gross Receipts
$3,657,652
Mission and Program Overview

Mission

The community foundation of morgan county, inc. Works with our citizens to enhance the quality of life for current and future generations of morgan county, indiana. We accept gifts, manage financial resources, make grants, and provide scholarships.

Community service and public charity including grants and scholarships.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$9,303,517$10,379,811▲ $1,076,294
Savings and Temporary Cash Investments$1,859,522$3,118,036▲ $1,258,514
Land, Buildings, and Equipment, Net$7,567$1,342▼ $6,225
Prepaid Expenses and Deferred Charges-$500-
Total Assets$11,170,606$13,499,689▲ $2,329,083
Liabilities
Escrow Account Liability$1,306,170$1,271,869▼ $34,301
Accounts Payable and Accrued Expenses$18,959$14,080▼ $4,879
Total Liabilities$1,325,129$1,285,949▼ $39,180
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,845,477$12,213,740▲ $2,368,263
Total Net Assets Fund Balance$9,845,477$12,213,740▲ $2,368,263
Total Liabilities and Net Assets / Fund Balance$11,170,606$13,499,689▲ $2,329,083

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,342$29,297$30,639

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$8,447,109$700,593▲ $1,244,501-$9,878,649
2023$7,620,906$140,983▲ $1,202,220-$8,447,109
2022$9,046,779$368,681▼ $1,223,205-$7,620,906
2021$7,657,072$653,799▲ $1,316,148-$9,046,779
2020$6,843,658$420,587▲ $785,282-$7,657,072
Compensation and Service Providers

Board Members and Trustees

NameTitle
Julie FredChair
Julie CarmichaelPast Chair
Holly FryeDirector
Jason MaxwellDirector
Rich MyersDirector
Tana LobbTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,156,729
Program Service Revenue
$282,265
Investment Income
$907,735
Other Revenue
$0
All Other Contributions
$2,156,729
Change in Net Assets
$1,898,868

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,282,293
Revenue Not Reported on Financial Statements
$64,436
Revenue Not Reported on Form 990
$469,395
Total Revenue per Audited Statements
$3,751,688
Total Revenue per Form 990
$3,346,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$671,843
Grants and Similar Amounts Paid$479,751
Salaries, Compensation, and Employee Benefits$296,267
Total Fundraising Expense$82,877
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$342,551--$342,551
Current Officers, Directors, Trustees, and Key Employees$108,948$85,602$64,850$259,400
Grants to Domestic Individuals$137,200--$137,200
Fees for Service Investment Mgmnt Fees-$64,436-$64,436
Fees for Services Accounting-$24,870-$24,870
Other Expenses$200,192$24,471-$24,471
All Other Expenses-$12,115$8,810$20,925
Payroll Taxes$8,429$6,623$5,017$20,069
Other Employee Benefits$7,055$5,543$4,200$16,798
Occupancy-$10,491-$10,491
Insurance-$6,774-$6,774
Depreciation Depletion-$6,225-$6,225
Office Expenses-$4,296-$4,296
Travel-$2,753-$2,753
Advertising-$2,205-$2,205
Total Functional Expenses$1,050,744$314,240$82,877$1,447,861

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,447,861
Expenses per Audited Statements$1,383,425
Total Expenses per Audited Statements$1,383,425
Expenses Not Reported on Financial Statements$64,436
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mooresville Consolidated School CorpMooresville, IN-Distribution Grant$10,000
Monroe-gregg School DistrictMonrovia, IN-Distribution Grant$7,034
Eminence Community SchoolsEminence, IN-Distribution Grant$6,000
Town of MorgantownMorgantown, IN-Distribution Grant$6,000
Martinsville Youth Development CenterMartinsville, IN-Distribution Grant$5,835
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The finance/audit committee reviews the draft and the final form is reviewed by the full board of directors before the filing deadline.

Form 990, Part VI, Section B, Line 12C

Forms are distributed and logged as returned. Ommissions are pursued so compliance is 100%. Issues raised by any individual's answers are resolved immediately and monitored throughout the year.

Form 990, Part VI, Section B, Line 15A

Executive committee reviews salary history, data and comparable positions within the area and state-wide organizations. Information is reviewed twice during the year and ratified by the board. Documentation is contained in president's notes of executive sessions.

Form 990, Part VI, Section C, Line 19

All governing documents, policies, and financial statements are contained in the public inspection file in the office and online at the foundation's public web site.

Filing and Contact Details

Filer

Filer Name
Community Foundation of Morgan County
EIN
35-1956929
Phone
7658130003
Address
PO BOX 1413, MARTINSVILLE, IN 46151

Signing Officer

Name
Christine Arnold
Title
Finance Manager
Phone
7658130003
Signed
2025-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christine Arnold
Formed
1995
Legal Domicile
In
Voting Board Members
6
Independent Board Members
6
Employees
7
Volunteers
0

Preparer

Firm
AGRESTA STORMS & O'LEARY PC
Address
5140 COMMERCE CIRCLE, INDIANAPOLIS, IN 46237
Preparer
Michelle a Clouse Ea
Phone
3177809850
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

No changes from prior year.

Financial Statement Notes

PART IV, LINE 2B:

Custodial funds represent funds placed on deposit with the foundation by other organizations based on their individual board resolutions. Income is added to these funds periodically in accordance with the investment allocation policies.

PART X, LINE 2:

The foundation is subject to audit by federal, state or local authorities in the area of income taxes. Along with a federal tax filing, the foundation files in the state of indiana. The foundation's federal and state income tax returns for 2021 through 2024 are subject to examination by the applicable tax authorities, generally for three years after the later of the original or extended due date. These audits could include questioning the foundation's tax-exempt status and compliance with federal, state, and local tax laws. Management is not aware of any tax positions that are more likely than not to change in the next twelve months or that would not sustain an examination by applicable taxing authorities. Therefore, there is no effect recorded in these financial statements for assets or liabilities resulting from unrecognized tax benefits. The foundation's policy is to recognize penalties and interest as incurred in the statement of activities and changes in net assets, which totaled $-0- for each of the years ended december 31, 2024 and 2023.

Part V, Line 4

Funds are to be used as per the related fund agreements.

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IRS990/MissionDesc0THE COMMUNITY FOUNDATION OF MORGAN COUNTY, INC. WORKS WITH OUR CITIZENS TO ENHANCE THE QUALITY OF LIFE FOR CURRENT AND FUTURE GENERATIONS OF MORGAN COUNTY, INDIANA. WE ACCEPT GIFTS, MANAGE FINANCIAL RESOURCES, MAKE GRANTS, AND PROVIDE SCHOLARSHIPS.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990/OtherExpensesGrp/Desc1PROGRAM EXPENSE
IRS990/OtherExpensesGrp/Desc2REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc3COMPUTER, SOFTWARE, AND
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PrincipalOfficerNm0CHRISTINE ARNOLD
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IRS990/ProgSrvcAccomActy2Grp/Desc0SINCE OUR FOUNDING, THE COMMUNITY FOUNDATION HAS PROVIDED SCHOLARSHIPS FOR MORGAN COUNTY STUDENTS AS PART OF OUR CORE MISSION. WE WORK HARD TO ENSURE THAT ALL STUDENTS WHO MIGHT QUALIFY LEARN OF THE AVAILABILITY AND ARE AIDED IN APPLYING FOR AVAILABLE SCHOLARSHIPS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CUSTODIAL FUNDS REPRESENT FUNDS PLACED ON DEPOSIT WITH THE FOUNDATION BY OTHER ORGANIZATIONS BASED ON THEIR INDIVIDUAL BOARD RESOLUTIONS. INCOME IS ADDED TO THESE FUNDS PERIODICALLY IN ACCORDANCE WITH THE INVESTMENT ALLOCATION POLICIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION IS SUBJECT TO AUDIT BY FEDERAL, STATE OR LOCAL AUTHORITIES IN THE AREA OF INCOME TAXES. ALONG WITH A FEDERAL TAX FILING, THE FOUNDATION FILES IN THE STATE OF INDIANA. THE FOUNDATION'S FEDERAL AND STATE INCOME TAX RETURNS FOR 2021 THROUGH 2024 ARE SUBJECT TO EXAMINATION BY THE APPLICABLE TAX AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE. THESE AUDITS COULD INCLUDE QUESTIONING THE FOUNDATION'S TAX-EXEMPT STATUS AND COMPLIANCE WITH FEDERAL, STATE, AND LOCAL TAX LAWS. MANAGEMENT IS NOT AWARE OF ANY TAX POSITIONS THAT ARE MORE LIKELY THAN NOT TO CHANGE IN THE NEXT TWELVE MONTHS OR THAT WOULD NOT SUSTAIN AN EXAMINATION BY APPLICABLE TAXING AUTHORITIES. THEREFORE, THERE IS NO EFFECT RECORDED IN THESE FINANCIAL STATEMENTS FOR ASSETS OR LIABILITIES RESULTING FROM UNRECOGNIZED TAX BENEFITS. THE FOUNDATION'S POLICY IS TO RECOGNIZE PENALTIES AND INTEREST AS INCURRED IN THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS, WHICH TOTALED $-0- FOR EACH OF THE YEARS ENDED DECEMBER 31, 2024 AND 2023.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDS ARE TO BE USED AS PER THE RELATED FUND AGREEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART V, LINE 4
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IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS FOR STUDENTS ATTENDING BALL STATE UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1SCHOLARSHIPS FOR STUDENTS ATTENDING BUTLER UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2SCHOLARSHIPS FOR STUDENTS ATTENDING DEPAUW UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt3SCHOLARSHIPS FOR STUDENTS ATTENDING FRANKIN COLLEGE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt4SCHOLARSHIPS FOR STUDENTS ATTENDING HANOVER COLLEGE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt5SCHOLARSHIPS FOR STUDENTS ATTENDING INDIANA STATE UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt6SCHOLARSHIPS FOR STUDENTS ATTENDING INDIANA UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt7SCHOLARSHIPS FOR STUDENTS ATTENDING INDIANA UNIVERSITY BLOOMINGTON
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt8SCHOLARSHIPS FOR STUDENTS ATTENDING INDIANA TECH
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt9SCHOLARSHIPS FOR STUDENTS ATTENDING MARION UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt10SCHOLARSHIPS FOR STUDENTS ATTENDING PURDUE UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt11SCHOLARSHIPS FOR STUDENTS ATTENDING UNIVERSITY OF INDIANAPOLIS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt12SCHOLARSHIPS FOR STUDENTS ATTENDING UNIVERSITY OF SOUTHERN INDIANA
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt13SCHOLARSHIPS FOR STUDENTS ATTENDING ANDERSON UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt14SCHOLARSHIPS FOR STUDENTS ATTENDING BETHEL COLLEGE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt15SCHOLARSHIPS FOR STUDENTS ATTENDING INDIANA UNIVERSITY INDIANAPOLIS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt16SCHOLARSHIPS FOR STUDENTS ATTENDING INDIANA WESLEYAN UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt17SCHOLARSHIPS FOR STUDENTS ATTENDING IU INDIANAPOLIS BURSAR
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt18SCHOLARSHIPS FOR STUDENTS ATTENDING PENNWEST UNIVERSITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt19SCHOLARSHIPS FOR STUDENTS ATTENDING UNIVERSITY OF NORTHWESTER OHIO

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