Marc Lipella Foundation
- Assets
- $5.9k
- Revenue
- $10.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Hagerstown, MD
- Founding
- 06/2014
- Data as of
- 12/2023
- 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 12/2023, Marc Lipella Foundation generated $10.2k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $9.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 9 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
2023
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 |
|---|---|---|---|
Richard Lipella President | 7.6 | $0 | |
Robert Lipella Vice Preside | 2.1 | $0 | |
Gayle Lipella Treasurer | 2.9 | $0 | |
Michael Lipella Secretary | 1.8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $450 |
| 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 | $9,790 |
| Total Revenue | $10,240 |
| 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 | $11 |
| Other expenses | $4,248 |
| Total operating and administrative expenses | $4,859 |
| Contributions, gifts, grants paid | $4,500 |
| Total expenses and disbursements | $9,359 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,892 |
| 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 | $5,892 |
| 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 $4,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MARYLAND COLLEGE PARK PURPOSE: COLLEGE SCHOLARSHIP | $2,000 |
GRACE O'BERRY PURPOSE: COLLEGE SCHOLARSHIP | $500 |
ISABELLE OVALLE-DOMINGUEZ PURPOSE: COLLEGE SCHOLARSHIP | $500 |
MAX HUDSON PURPOSE: COLLEGE SCHOLARSHIP | $500 |
MAGGIE HAWBAKER PURPOSE: COLLEGE SCHOLARSHIP | $1,000 |