Lippy Foundation
- Assets
- $313.5k
- Revenue
- $13.5k
- Investments
- $276.8k
- Employees
- 0
- Location
- Warren, OH
- Founding
- 02/1969
- Data as of
- 12/2022
- EIN
- 23-7003982
Organization Overview
Lippy Foundation is located in Warren, OH. The organization was established in 1969. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lippy 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, Lippy Foundation generated $13.5k 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 (11.8%) each year. All expenses for the organization totaled $14.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (15.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Lippy Foundation has awarded 193 individual grants totaling $400,707. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William H Lippy Trustee | 0 | $0 | |
Sandra Lippy Trustee | 0 | $0 | |
Stephen R Lippy Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,000 |
| Interest on Savings | $1,942 |
| Dividends & Interest | $3,403 |
| Net Rental Income | -$512 |
| Net Gain on Sale of Assets | $6,856 |
| Capital Gain Net Income | $7,926 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $277 |
| Total Revenue | $13,478 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $1,761 |
| Taxes | $386 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,357 |
| Total operating and administrative expenses | $4,614 |
| Contributions, gifts, grants paid | $10,176 |
| Total expenses and disbursements | $14,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,640 |
| Savings and temporary cash investments | $0 |
| 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 | $276,817 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $313,458 |
| 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, Lippy Foundation has awarded $10,176 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN JEWISH COMMITTEE PURPOSE: GENERAL OPERATIONS | $1,830 |
B'NAI TORAH CONGREGATION PURPOSE: RELIGIOUS | $2,656 |
FIRE MOUNTAIN SCHOOL PURPOSE: EDUCATION | $103 |
ISRAEL TENNIS CENTERS PURPOSE: COMMUNITY SERVICE | $5,587 |