Marc Lipella Foundation
- Assets
- $5.0k
- Revenue
- $11.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Hagerstown, MD
- Founding
- 06/2014
- Data as of
- 12/2022
- EIN
- 45-5175677
Organization Overview
Marc Lipella Foundation is located in Hagerstown, MD. The organization was established in 2014. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marc Lipella 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, Marc Lipella Foundation generated $11.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $10.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIPS TO WORTHY UNDERGRADUATE STUDENTS IN MEMORY OF MARC LIPELLA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gayle Lipella Treasurer | 3.4 | $0 | |
Richard Lipella President | 7.9 | $0 | |
Robert Lipella Vice Preside | 2.1 | $0 | |
Michael Lipella Secretary | 2.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11,440 |
| Total Revenue | $11,440 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $32 |
| Other expenses | $4,667 |
| Total operating and administrative expenses | $5,249 |
| Contributions, gifts, grants paid | $5,500 |
| Total expenses and disbursements | $10,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,011 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,011 |
| 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, Marc Lipella Foundation has awarded $5,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
College Park, MD PURPOSE: COLLEGE SCHOLARSHIP | $3,000 |
DELANEY HOUSE PURPOSE: COLLEGE SCHOLARSHIP | $500 |
HOFFY POFFENBERGER PURPOSE: COLLEGE SCHOLARSHIP | $500 |
DELANEY PUTT PURPOSE: COLLEGE SCHOLARSHIP | $500 |
MADISON COVER PURPOSE: COLLEGE SCHOLARSHIP | $500 |
KYLIE PUTT PURPOSE: COLLEGE SCHOLARSHIP | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lake Monticello Owners Association Lake Monticello, VA | $27,325,227 | $9,680,580 |
Berks Community Action Program Inc Reading, PA | $2,377,966 | $7,401,234 |
Competitive Enterprise Institute Washington, DC | $5,463,449 | $7,758,776 |
Building Bridges Across The River Washington, DC | $56,784,233 | $13,914,024 |
Juvenile Justice Center Of Phila Philadelphia, PA | $3,150,884 | $6,364,511 |
Echelon Community Services Washington, DC | $2,480,354 | $6,411,075 |
American Property Owners Alliance Washington, DC | $1,922,706 | $4,612,000 |
Baltimore Public Markets Corporation Baltimore, MD | $11,139,758 | $2,603,111 |
Basic Acrylic Monomer Manufacturers Inc Williamsburg, VA | $5,992,927 | $2,980,426 |
City Life - Community Builders Baltimore, MD | $1,816,865 | $2,439,608 |
Central Virginia Partnership For Economic Development Charlottesville, VA | $960,177 | $3,152,510 |
Wc Workshop Inc Mullens, WV | $199,940 | $2,482,765 |