AD & AL Morgan Memorial Scholarship Fund
AD & AL Morgan Memorial Scholarship Fund is a private foundation, based in NORFOLK, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $482K in total assets. In 2024, it awarded 7 grants totaling $36K. Net investment income was $42K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$482K
+0.5% YoY
Annual Giving
$36K
-5.3% YoY
Grant Count
7
-22.2% YoY
Avg Grant Size
$5K
+21.8% YoY
Under IRS private-foundation payout rules, AD & AL Morgan Memorial Scholarship Fund reported a distributable amount of $41K for 2024 — the minimum it must pay out in qualifying distributions.
About AD & AL Morgan Memorial Scholarship Fund
Based on IRS filings
AD & AL Morgan Memorial Scholarship Fund is a private foundation, based in NORFOLK, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $482K in total assets. In 2024, it awarded 7 grants totaling $36K. Net investment income was $42K.
Ready to take the next step with AD & AL Morgan Memorial Scholarship Fund?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $481,808 | $479,435 | $486,721 |
| Revenue | $53,445 | $44,881 | $24,336 |
| Expenses | $51,072 | $52,167 | $47,562 |
| Qualifying Distributions | $40,000 | $42,000 | $36,500 |
| Net Investment Income | $42,373 | $34,714 | $13,274 |
| Distributable Amount | $40,629 | $37,042 | $38,546 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
44 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Berry Jason ($6,000), Crosby Makendra ($6,000), Hancock Hazel ($6,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Berry Jason Norfolk, VA | Scholarship | $6,000 |
| Crosby Makendra Suffolk, VA | Scholarship | $6,000 |
| Hancock Hazel Chesapeake, VA | Scholarship | $6,000 |
| Jenson Marguerite Chesapeake, VA | Scholarship | $3,000 |
| Mondaya Trinol Chesapeake, VA | Scholarship | $6,000 |
| Richards Johnovon Norfolk, VA | Scholarship | $6,000 |
| Walker Ny'asia Chesapeake, VA | Scholarship | $3,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Lewis W Webb III | Trustee | 1 | — |
| G Randolph Webb Jr | Trustee | 1 | — |
| Charlotte W Chandler | Trustee | 1 | — |
| Robert W Guffey Jr | Trustee | 1 | — |
Frequently Asked Questions
How large is AD & AL Morgan Memorial Scholarship Fund?
As of 2024, AD & AL Morgan Memorial Scholarship Fund holds $482K in total assets with $53K in annual revenue. It awarded 7 grants totaling $36K in 2024.
Where does AD & AL Morgan Memorial Scholarship Fund operate?
AD & AL Morgan Memorial Scholarship Fund has awarded grants in Virginia.
What size grants does AD & AL Morgan Memorial Scholarship Fund award?
In 2024, AD & AL Morgan Memorial Scholarship Fund awarded 7 grants totaling $36K — an average of about $5K per grant, based on its IRS Form 990 filings.
How much is AD & AL Morgan Memorial Scholarship Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, AD & AL Morgan Memorial Scholarship Fund reported a distributable amount of $41K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is AD & AL Morgan Memorial Scholarship Fund's EIN?
AD & AL Morgan Memorial Scholarship Fund's EIN (Employer Identification Number) is 54-0309320. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in AD & AL Morgan Memorial Scholarship Fund's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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