Morehead Scholarship Foundation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
MOREHEAD-CAIN SCHOLARSHIP FUND PROVIDES SUPPORT FOR THE MOREHEAD-CAIN PROGRAM AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL.
- Income
- $6.1 million
- Spending
- $7.8 million
- Spent on programs
- 100%
- Reserves
- 85.6 months of spending
- Largest source of income
- donations and private grants, 54%
- Employees
- 0
- Volunteers
- 0
- Highest pay
- $511,289, president
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 70 out of 100. Higher than 53% of charities in its peer group (education, $1m to $10m).
Reserves
35 of 35Spendable reserves would cover 85.6 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
0 of 15Spending exceeded income by 29% of income.
Income trend
0 of 15Income fell 35% on the year before.
Spending floor
15 of 15100% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 95 out of 100. Higher than 69% of charities in its peer group (education, $1m to $10m).
Independent board
25 of 2515 of 15 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (2)
- $7.8 million spent. 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.
- $34,562 spent. 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.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 2004.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.