The Morgan E Cline Perpetual
The Morgan E Cline Perpetual is a private foundation, based in Centerville, IA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $16.0M in total assets. In 2025, it awarded 5 grants totaling $182K. Net investment income was $788K.
The Morgan E Cline Perpetual at a glance
In short: The Morgan E Cline Perpetual gave $182K across 5 grants in 2025 (avg $36K), mostly in Iowa. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $182,000
- +80.2% vs 2024
- Grants made (2025)
- 5
- +150.0% vs 2024
- Average grant
- $36,400
- -27.9% vs 2024
- Median grant
- $1,000
- Total assets
- $15,957,081
- +6.3% vs 2024
- Primary geography
- Iowa (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Morgan E Cline Perpetual funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2025
The largest 2025 recipient was Indian Hills Community College Foundation ($100K). Together the top 5 received $182K.
Grant Size Distribution
34 grants across all recorded years
The most common grant size was under $50K: 28 grants of 34 (82%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
States
Cities
How The Morgan E Cline Perpetual gives
- Giving held roughly steady from 2022 to 2025 (−17%). Method
- In 2025 it paid out 136% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $91K (2019) to $528K (2021). In 2025 it made 5 grants totaling $182K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Indian Hills Community College Foundation Ottumwa, IA | Construction of New Facility | $100,000 |
| Rathbun Lake YMCA Centerville, IA | Facility Improvements | $80,000 |
| City of Exline Exline, IA | Cemetery Maintenance | $1,000 |
| Furever Friends Rescue of Appanoose Inc Centerville, IA | Charitable Operations | $500 |
| The Lord's Cupboard Centerville, IA | Charitable Operations | $500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $15,957,081 | $1,932,583 | $1,980,395 | $182,000 | 5 | $827,137 | $787,638 | $608,194 |
| 2024 | $15,009,936 | $2,274,746 | $1,901,768 | $101,000 | 2 | $710,795 | $1,074,384 | $575,718 |
| 2023 | $14,480,107 | $1,280,364 | $2,047,823 | $213,900 | 7 | $898,701 | $211,711 | $542,600 |
| 2022 | $13,712,032 | $1,757,703 | $1,997,789 | $218,442 | 9 | $812,323 | $590,160 | $579,961 |
| 2021 | $16,803,202 | $2,599,702 | $2,173,737 | $528,344 | 11 | $968,692 | $1,256,037 | $669,053 |
| 2020 | $16,275,988 | $1,433,344 | $1,548,377 | $122,000 | 11 | — | $610,246 | $603,085 |
| 2019 | $15,181,319 | $1,525,585 | $1,607,244 | $91,000 | 7 | — | $520,460 | $582,538 |
Under IRS private-foundation payout rules, The Morgan E Cline Perpetual reported a distributable amount of $608K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Morgan E Cline Perpetual is led by Alison Fraser, CEO on every filing since 2019; 9 of 10 officers listed in 2025 are compensated.
Officers on the 2025 filing
Alison Fraser
CEO
On filings since 2019
40 hrs/week
$98K (2019) → $149K (2025)
Bill Buss
Chair
Trustee → Vice Chair, 2024
Vice Chair → Chair, 2025
On filings since 2022
2 hrs/week
$5K (2022) → $5K (2025)
The Iowa Trust AND Savings Bank
Corporate Trustee
Corporate Trustee & Treasurer → Corporate Trustee, 2024
On filings since 2019
2 hrs/week
$5K (2019) → $5K (2025)
John Schmidt
Trustee
On filings since 2024
2 hrs/week
$5K (2024) → $5K (2025)
Justin Zapitul
Trustee
On filings since 2024
2 hrs/week
$5K (2024) → $5K (2025)
Marijo Allen
Trustee
On filings since 2024
2 hrs/week
$5K (2024) → $5K (2025)
Mike Craver
Trustee
New on the 2025 filing
2 hrs/week
$5K (2025)
Ann Young
Secretary
Trustee → Secretary, 2021
On filings since 2019
2 hrs/week
$5K (2019) → $5K (2025)
Jerry Kirkpatrick
Treasurer
Trustee → Treasurer, 2025
On filings since 2022
2 hrs/week
$5K (2022) → $5K (2025)
Jeff Young
Vice Chair
Treasurer → Vice Chair, 2025
On filings since 2024
2 hrs/week
No compensation reported
Former officers (5)
- Former: Connie Stater (2019–2024) — Trustee
- Former: Michael Craver Esq. (2019–2024) — Chair
- Former: Vanessa Fraser (2019–2024) — Trustee
- Former: Frank Reznicek (2019–2023) — Vice Chair
- Former: James Milani Esq. (2019–2022) — Trustee - Passed Spring
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $149K, to Alison Fraser (CEO). 9 officers or directors reported compensation on that filing.
Frequently asked questions about The Morgan E Cline Perpetual
How much does The Morgan E Cline Perpetual give each year?
The Morgan E Cline Perpetual gave $182K across 5 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $101K across 2 grants.
What is The Morgan E Cline Perpetual's typical grant size?
The Morgan E Cline Perpetual's median grant in 2025 was $1,000, and its average grant was $36,400, across 5 grants on its 2025 IRS Form 990-PF.
Where does The Morgan E Cline Perpetual give grants?
The Morgan E Cline Perpetual gives mostly in Iowa: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Centerville, IA (3 grants).
Does The Morgan E Cline Perpetual give general operating support?
Not in 2025: none of the 5 grants with a stated purpose on The Morgan E Cline Perpetual's 2025 IRS Form 990-PF were described as general or operating support.
Who are The Morgan E Cline Perpetual's largest grantees?
The Morgan E Cline Perpetual's largest 2025 grantees include Indian Hills Community College Foundation ($100,000), Rathbun Lake YMCA ($80,000) and City of Exline ($1,000), according to its 2025 IRS Form 990-PF. Together they received 99% of its itemized 2025 grant dollars.
How large is The Morgan E Cline Perpetual?
The Morgan E Cline Perpetual reported $16.0M in total assets on its 2025 IRS Form 990-PF. It paid out $827K in qualifying distributions that year, against a required minimum of $608K (roughly 5% of its investment assets).
What is The Morgan E Cline Perpetual's EIN?
The Morgan E Cline Perpetual's EIN (Employer Identification Number) is 47-7016421. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 26, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS August 21, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work The Morgan E Cline Perpetual funds
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