The Hannah Lips Foundation
- Assets
- $276.5k
- Revenue
- $18.9k
- Investments
- $253.8k
- Employees
- 0
- Location
- Faribault, MN
- Founding
- 03/1979
- Data as of
- 10/2023
- EIN
- 41-1344355
Organization Overview
The Hannah Lips Foundation is located in Faribault, MN. The organization was established in 1979. 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. Hannah Lips 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 10/2023, Hannah Lips Foundation generated $18.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $45.6k during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hannah Lips Foundation has awarded 31 individual grants totaling $139,116. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO HEALTH RELATED ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Isaacson Director | 0.1 | $290 | |
Debra Kuball Vice Pres. | 0.1 | $290 | |
Debbie Bellingham Secretary | 0.1 | $580 | |
Debbie Purfeerst President | 0.1 | $290 | |
Dustin Simpson Director | 0.1 | $290 | |
Curt Becher Treasurer | 0.1 | $580 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $19,774 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$866 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $18,908 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,610 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $214 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $307 |
| Total operating and administrative expenses | $3,131 |
| Contributions, gifts, grants paid | $42,439 |
| Total expenses and disbursements | $45,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,805 |
| Savings and temporary cash investments | $15,854 |
| 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 | $253,811 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $276,470 |
| 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, The Hannah Lips Foundation has awarded $42,439 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTH CENTRAL COLLEGE PURPOSE: CONTRIBUTION - HEALTH FIELD | $7,500 |
PROJECT ABLE - FARIBAULT PUBLIC SCHOOLS COMMUNITY EDUCATION PURPOSE: CONTRIBUTION - HEALTH FIELD | $6,600 |
SUPPLY OUR CHILDREN PURPOSE: CONTRIBUTION - HEALTH FIELD | $6,000 |
FARIBAULT SCHOOL #656 PURPOSE: CONTRIBUTION - HEALTH FIELD | $2,067 |
MIDWEST RHETT SYNDROME FOUNDATION PURPOSE: CONTRIBUTION - HEALTH FIELD | $250 |
RICE COUNTY FRIENDSHIP HOUSE PURPOSE: CONTRIBUTION - HEALTH FIELD | $1,022 |