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.
Key facts about The Morgan E Cline Perpetual
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.
- EIN
- 47-7016421
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $182,000
- Grants made (2025)
- 5
- Average grant
- $36,400
- Median grant
- $1,000
- Total assets
- $15,957,081
- Primary geography
- Iowa (100% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$16.0M
+6.3% YoY
Annual Giving
$182K
+80.2% YoY
Grant Count
5
+150.0% YoY
Avg Grant Size
$36K
-27.9% YoY
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.
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.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
States
Cities
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.
Grant Insights
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%).
Giving History
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 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $15,957,081 | $15,009,936 | $14,480,107 |
| Revenue | $1,932,583 | $2,274,746 | $1,280,364 |
| Expenses | $1,980,395 | $1,901,768 | $2,047,823 |
| Qualifying Distributions | $827,137 | $710,795 | $898,701 |
| Net Investment Income | $787,638 | $1,074,384 | $211,711 |
| Distributable Amount | $608,194 | $575,718 | $542,600 |
Data update history
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
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.
Here's the math on researching The Morgan E Cline Perpetual by hand.
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