In Texas there are two Morgan clubs, one based around Dallas, the other around Houston: the Morgans on the Gulf Morgan Owners Group.

Initiated in 1985, it has issued a series of similar looking badges, with protruding Morgan wings, basically half circle, with waves inside.
 
This is one of the early club badges, with a white outer rim, produced by Jim Baker, bearing #033 on the front.
 
The badge is in excellent, unused condition, having been on display only.