The Morehead-Cain Foundation is a private 501(c)(3) educational institution based in Chapel Hill, North Carolina. Established in 1945, it operates America's first merit scholarship program at America's first public university. The foundation identifies, recruits, and supports exceptional undergraduate scholars at the University of North Carolina at Chapel Hill through a comprehensive scholarship and leadership development program.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$225.5M
-0.6% YoY
Annual Giving
$13.8M
+7.9% YoY
Grant Count
409
+13.3% YoY
Avg Grant Size
$34K
-4.8% YoY
Under IRS private-foundation payout rules, The Morehead-cain Foundation reported a distributable amount of $16.0M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission is to identify, invest in, and empower a community of dynamic, purpose-driven leaders who will foster thriving communities across the University, state, nation, and world.
The foundation attracts outstanding, well-rounded students of high character and intellect who seek to leave a positive impact on Carolina and the world. The program emphasizes:
- Merit-based scholarship support for undergraduate study
- Leadership development and character formation
- Intellectual pursuits at a world-class research institution
- Commitment to public service
- Building an intergenerational community of leaders
Grantmaking
The foundation provides comprehensive undergraduate scholarships to selected scholars at UNC–Chapel Hill. Recent grantmaking activity includes:
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Geographic Focus
Where this funder awards grants
The foundation primarily serves:
- Graduates of North Carolina high schools
- Schools outside the state and in Canada
- Public schools in the United Kingdom
All scholarships support undergraduate study at the University of North Carolina at Chapel Hill.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of fiscal year 2023:
- Total assets: $227 million
- Total liabilities: $1.83 million
- Revenue: $10.6 million
- Expenses: $15.2 million
As of most recent filing (2024):
- Total assets: $225,484,385
- Total giving: $13,872,250
The foundation has been tax-exempt since February 1948 (EIN: 56-0599225).
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $225,484,385 | $226,832,928 | $231,797,275 |
| Revenue | $15,335,263 | $10,574,596 | $9,499,160 |
| Expenses | $16,689,105 | $15,158,500 | $14,756,925 |
| Qualifying Distributions | $15,537,054 | $14,692,611 | $14,109,436 |
| Net Investment Income | $5,195,455 | $6,500,951 | $6,255,067 |
| Distributable Amount | $16,034,676 | $15,700,202 | $16,588,765 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
200 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Ajier Awan ($50,420), Eleanor Bolton ($45,341), Lwazi Bululu ($38,577).
| Recipient | Purpose | Amount |
|---|---|---|
| GOWRI ABHINANDA CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $19,407 |
| SENAM ADEDZE CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $25,624 |
| MERCY ADEKOLA CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $30,094 |
| ABIMIFOLUWA ADESHINA CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $8,033 |
| OLUWAJUBELO ADEYI CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $11,746 |
| UREDO AGADA CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $6,500 |
| ESHA AGARWAL CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $31,124 |
| FOLUWA AGBEBI CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $25,124 |
| MICHAEL AGU CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $19,547 |
| BOATEMAA AGYEMAN-MENSAH CHAPEL HILL, NC | SCHOLARSHIP GRANTS FOR UNDERGRADUATE STUDY | $31,644 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DAVID C WRIGHT III | CHAIRMAN/TRUSTEE | 5 | $5,203 |
| WILLIE E ALSTON JR | TRUSTEE | 2.5 | $2,601 |
| PHIL BERNEY | TRUSTEE | 2.5 | — |
| A HOLLY C GWYNNE-TIMOTHY | TRUSTEE | 2.5 | $2,601 |
| TERRI LACY | TRUSTEE | 2.5 | $2,601 |
| RACHEL M PFEIFER | TRUSTEE | 2.5 | $2,601 |
| WALKER L POOLE | TRUSTEE | 2.5 | $2,601 |
| TIMOTHY P SULLIVAN | VICE CHAIRMAN/TRUSTEE | 2.5 | $2,601 |
| MEGAN M MAZZOCCHI | VICE PRESIDENT | 40 | $234,150 |
| STEVEN R MICHALAK | TREASURER | 40 | $234,150 |
| DAVID B GREER | DIRECTOR OF DEVELOPMENT | 40 | $198,500 |
| CHRISTOPHER J BRADFORD | PRESIDENT | 40 | $499,196 |
| JESSE M SOLOFF | VICE PRESIDENT OF COMMUNITY | 40 | $112,735 |
Recent News & Activity
Recent developments and announcements
The foundation announced the first cohort of the **Sophomore Intake Initiative** in November 2023, introducing fifteen new Morehead-Cain Scholars from the Class of 2026 at the Foundation's Fall Banquet.
Morehead-Cain Foundation to select sophomores at UNC\u2013Chapel HillThe foundation announced **2025 and 2026 Impact Educators**, recognizing educators who invest in young leaders.
Morehead-Cain Foundation announces 2025 Impact EducatorsMary Cain, philanthropist and benefactor of the Morehead-Cain Foundation, passed away at age 96.
Mary Cain, philanthropist and benefactor, dies at 96The foundation continues to host alumni engagement activities, including the annual Alumni Forum where scholars deliver SEVEN Talks on topics of personal significance.
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Morehead-cain Foundation fund?
The foundation's mission is to identify, invest in, and empower a community of dynamic, purpose-driven leaders who will foster thriving communities across the University, state, nation, and world. The foundation attracts outstanding, well-rounded students of high character and intellect who seek to leave a positive impact on Carolina and the world. The program emphasizes: • Merit-based scholarship support for undergraduate study • Leadership development and character formation • Intellectual pu…
How do I apply for a grant from The Morehead-cain Foundation?
The foundation provides comprehensive undergraduate scholarships to selected scholars at UNC–Chapel Hill. Recent grantmaking activity includes: • **Total giving (2024):** $13,872,250 • **Typical award range:** $35–$3,489,800 • **Scholarship scope:** Awards are made for undergraduate study only at the University of North Carolina at Chapel Hill The foundation recently launched the **Sophomore Intake Initiative** in September 2023, which identifies current sophomores at UNC–Chapel Hill who have d…
Where does The Morehead-cain Foundation make grants?
The foundation primarily serves: • Graduates of North Carolina high schools • Schools outside the state and in Canada • Public schools in the United Kingdom All scholarships support undergraduate study at the University of North Carolina at Chapel Hill.
What size grants does The Morehead-cain Foundation award?
In 2024, The Morehead-cain Foundation awarded 409 grants totaling $13.8M — an average of about $34K per grant, based on its IRS Form 990 filings.
How much is The Morehead-cain Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Morehead-cain Foundation reported a distributable amount of $16.0M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Morehead-cain Foundation's EIN?
The Morehead-cain Foundation's EIN (Employer Identification Number) is 56-0599225. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in The Morehead-cain Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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