Morehead State University Foundation Inc
To provide margin of excellence opportunity funding to morehead state university in an effort to assist msu in reaching its established goals. The mission of morehead foundation is to prudently administer all assets of the foundation and/or morehead state university as provided by federal and state law and regulation and through fiduciary responsibility between the university and the foundation, to promote educational purposes in connection with or at the request of the university by encouraging, sponsoring and supporting institutional priorities, to provide advice, consultation and support to the president and the board of regents of morehead state university, and to provide volunteer leadership to morehead state university's fund raising programs and to assist other institutional advancement efforts.
Key facts about Morehead State University Foundation Inc
In short: Morehead State University Foundation Inc gave $4.3M across 1 grant in 2025 (avg $4.3M), mostly in Kentucky. Source: 2025 IRS Form 990.
- EIN
- 31-1003236
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $4,311,340
- Grants made (2025)
- 1
- Average grant
- $4,311,340
- Median grant
- $4,311,340
- Total assets
- $91,976,128
- Primary geography
- Kentucky (100% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$92.0M
+8.2% YoY
Annual Giving
$4.3M
+11.3% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$4.3M
+11.3% YoY
How Morehead State University Foundation Inc gives
- Giving grew 73% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
About Morehead State University Foundation Inc
Based on IRS filings
Morehead State University Foundation Inc is a public charity, based in Morehead, KY. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $92.0M in total assets. In 2025, it awarded 1 grant totaling $4.3M. Net investment income was $6.6M.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $1.6M (2021) to $4.3M (2025). In 2025 it made 1 grant totaling $4.3M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Morehead State University ($4.3M).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $1–5M range: 5 grants of 5 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Morehead State University Morehead, KY | Support of the University | $4,311,340 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $91,976,128 | $85,025,098 | $75,848,542 |
| Revenue | $12,815,744 | $10,191,156 | $6,483,169 |
| Expenses | $6,752,177 | $6,693,927 | $6,288,780 |
| Net Investment Income | $6,582,896 | $2,052,472 | $858,150 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2021 (received by the IRS November 5, 2021)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 9, 2022)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 8, 2023)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 8, 2024)
- Updated Form 990 for fiscal year 2025 (received by the IRS November 10, 2025)
- IRS filings on file for fiscal years 2021–2025
Leadership & Key People
Officers and directors from IRS filings
Morehead State University Foundation Inc is led by Rick Hesterberg, Foundation & CEO since 2023 (on filings since 2021); none of the 29 officers listed in 2025 report compensation.
Officers on the 2025 filing
Rick Hesterberg
Foundation & CEO
CEO → Foundation & CEO, 2023
On filings since 2021
1 hr/week
No compensation reported
Allison Caudill
Foundation & CEO
New on the 2025 filing
1 hr/week
No compensation reported
Perry Allen
Board Chair
Vice Chair → Board Chair, 2024
On filings since 2021
1 hr/week
No compensation reported
Andre Prefontaine
Trustee
On filings since 2021
1 hr/week
No compensation reported
Bob Albert
Trustee
Trustee → Treasurer, 2022
Treasurer → Trustee, 2025
On filings since 2021
1 hr/week
No compensation reported
Ed Strosnider
Trustee
On filings since 2021
1 hr/week
No compensation reported
Heather Thompson
Trustee
On filings since 2021
1 hr/week
No compensation reported
Janice Towles
Trustee
On filings since 2021
1 hr/week
No compensation reported
John Merchant
Trustee
On filings since 2021
1 hr/week
No compensation reported
Jon Harville
Trustee
On filings since 2021
1 hr/week
No compensation reported
Kevin Johns
Trustee
On filings since 2021
1 hr/week
No compensation reported
Ronald Cartee
Trustee
On filings since 2021
1 hr/week
No compensation reported
Ronald Cooper
Trustee
On filings since 2021
1 hr/week
No compensation reported
James Jennings
Trustee
On filings since 2022
1 hr/week
No compensation reported
Barbara Ison
Trustee
On filings since 2023
1 hr/week
No compensation reported
Brett Traver
Trustee
On filings since 2023
1 hr/week
No compensation reported
Brian McBrayer
Trustee
On filings since 2023
1 hr/week
No compensation reported
Peggy Osborne
Trustee
On filings since 2023
1 hr/week
No compensation reported
Bernie McKay
Trustee
On filings since 2024
1 hr/week
No compensation reported
Brandon Fraley
Trustee
On filings since 2024
1 hr/week
No compensation reported
Colleen Payne
Trustee
On filings since 2024
1 hr/week
No compensation reported
Kimberly Hayes Taylor
Trustee
On filings since 2024
1 hr/week
No compensation reported
Terri Walters
Trustee
On filings since 2024
1 hr/week
No compensation reported
Todd Phillips
Trustee
On filings since 2024
1 hr/week
No compensation reported
Joseph Gillman
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Karen Kelly
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Wayne Granis
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Andrew Jones
Vice Chair
Trustee → Vice Chair, 2024
On filings since 2021
1 hr/week
No compensation reported
Daniel McGowan
Treasurer
Trustee → Treasurer, 2025
On filings since 2024
1 hr/week
No compensation reported
Former officers (11)
- Former: Brian G. Nurick (2021–2023) — Trustee
- Former: Christopher Wright (2021–2023) — Trustee
- Former: Gary Mitchell (2021–2023) — Trustee
- Former: Jack Matthews (2021–2023) — Chair
- Former: Kenneth Alexander (2021–2023) — Trustee
- Former: Bob Schena (2021–2022) — Trustee
- Former: Nathan Bishop (2021–2022) — Trustee
- Former: Robert L. King (2021–2022) — Trustee
- Former: Ronald Griffith (2021–2022) — Trustee
- Former: Susan Martin (2021–2022) — Trustee
- Former: Willi Walker (2021–2022) — Trustee
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Morehead State University Foundation Inc
How much does Morehead State University Foundation Inc give each year?
Morehead State University Foundation Inc gave $4.3M across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $3.9M across 1 grant.
How large is Morehead State University Foundation Inc?
Morehead State University Foundation Inc reported $92.0M in total assets on its 2025 IRS Form 990. Its revenue that year was $12.8M.
Where does Morehead State University Foundation Inc operate?
Morehead State University Foundation Inc has awarded grants in Kentucky.
What is Morehead State University Foundation Inc's EIN?
Morehead State University Foundation Inc's EIN (Employer Identification Number) is 31-1003236. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Here's the math on researching Morehead State University Foundation Inc by hand.
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