Ernest Christian Klipstein Foundation
- Assets
- $2.4m
- Revenue
- $77.5k
- Investments
- $2.3m
- Employees
- 0
- Location
- Oldwick, NJ
- Founding
- 03/1957
- Data as of
- 12/2022
- EIN
- 22-6028529
Organization Overview
Ernest Christian Klipstein Foundation is located in Oldwick, NJ. The organization was established in 1957. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ernest Christian Klipstein Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Ernest Christian Klipstein Foundation generated $77.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $192.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Ernest Christian Klipstein Foundation has awarded 397 individual grants totaling $1,186,350. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATIONS MADE TO MANY CHARITABLE ORGANIZATIONS DEALING WITH HEALTH, SAFETY, EDUCATION AND ENVIRONMENTAL ISSUES (SEE LIST ATTACHED)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marion White Administrator | 10 | $6,250 | |
Constance Bruno Treasurer | 1 | $0 | |
Kenneth Klipstein President | 1 | $0 | |
Pam Klipstein Smith Secretary | 1 | $0 | |
David Klipstein Vice President | 1 | $0 | |
Philip A Klipstein Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $77,547 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $2,487 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $77,547 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $6,250 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,196 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $898 |
| Total operating and administrative expenses | $42,786 |
| Contributions, gifts, grants paid | $150,000 |
| Total expenses and disbursements | $192,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,465 |
| Savings and temporary cash investments | $78,508 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,064,771 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,443,985 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Ernest Christian Klipstein Foundation has awarded $150,000 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
LAMINGTON PRESBYTERIAN CHURCH PURPOSE: PASTORAL CARE | $30,000 |
Somerset, NJ PURPOSE: UNRESTRICTED | $25,000 |
NJ CONSERVATION FOUNDATION PURPOSE: CONSERVATION | $14,000 |
MORRISTOWN MEDICAL CENTER FOUNDATION PURPOSE: MEDICAL | $10,000 |
Wilmington, NC PURPOSE: MEDICAL | $10,000 |
DOSHER FOUNDATION PURPOSE: HOSPITAL | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |