Phyllis & Norman Lipsett Foundation
501(c)(3) Donations tax-deductible
Only null% goes to programs Strong reserves Declining revenue
Phyllis & Norman Lipsett Foundation is a 501(c)(3) organization based in Watchung, New Jersey, registered in 1981, with $93,147 in FY2023 revenue. CharityIndex grades it C+.
70 Carrar Dr, Watchung, NJ, 07069 EIN 23-2185093 Since 1981
Revenue (FY2023)
$93K
▲ 1098.8% vs prior year
Expenses (FY2023)
$76K
Net assets
$1.8M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Phyllis & Norman Lipsett Foundation— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
B+Financial health25% of the rating281 mo reserves · +19% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Phyllis & Norman Lipsett Foundation: 281 mo reserves · +19% margin earns a B+ on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Phyllis & Norman Lipsett Foundation— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
DTransparency10% of the rating1 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Phyllis & Norman Lipsett Foundation: 1 of 5 disclosure signals earns a D on this criterion. See the exact thresholds →
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Contact & location
- Address
- 70 Carrar Dr, Watchung, NJ, 07069
- City
- Watchung
- State
- New Jersey
- Category
- —
- Subcategory
- —
Financial trends
Revenue declined from $188K (FY2013) to $93K (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $0Net assets $1.8M
Operating margin
18.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.8M
Total liabilities
$0
Net assets
$1.8M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $93,147▲1099% | $75,905▼43.9% | $1,774,768▲1.0% | $1,774,768▲1.0% | 990PF |
| 2022 | $7,770▼94.3% | $135,385▲17.8% | $1,757,526▼6.8% | $1,757,526▼6.8% | 990PF |
| 2021 | $137,484▲3.6% | $114,923▼10.5% | $1,885,141▲1.2% | $1,885,141▲1.2% | 990PF |
| 2020 | $132,757▲211% | $128,376▼26.3% | $1,862,580▲0.2% | $1,862,580▲0.2% | 990PF |
| 2019 | $42,740▼82.3% | $174,092▲76.8% | $1,858,199▼6.6% | $1,858,199▼6.6% | 990PF |
| 2018 | $241,974▲105% | $98,491▼11.5% | $1,989,551▲7.8% | $1,989,551▲7.8% | 990PF |
| 2017 | $117,982▲32.1% | $111,331▲25.2% | $1,846,068▲0.4% | $1,846,068▲0.4% | 990PF |
| 2016 | $89,305▲23.7% | $88,933▼9.1% | $1,839,417 | $1,839,417 | 990PF |
| 2015 | $72,192▲239% | $97,856▼14.4% | $1,839,045▼1.4% | $1,839,045▼1.4% | 990PF |
| 2014 | $21,312▼88.7% | $114,372▼38.0% | $1,864,709▼4.8% | $1,864,709▼4.8% | 990PF |
| 2013 | $188,363 | $184,435▲36.6% | $1,957,769▲0.2% | $1,957,769▲0.2% | 990PF |
| 2012 | — | $135,006 | $1,953,841 | $1,953,841 | 990PF |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Frequently asked questions
- Is Phyllis & Norman Lipsett Foundation a legitimate nonprofit?
- Yes. Phyllis & Norman Lipsett Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 23-2185093, based in Watchung, New Jersey. Donations are tax-deductible.
- What is Phyllis & Norman Lipsett Foundation's EIN?
- Phyllis & Norman Lipsett Foundation's Employer Identification Number (EIN) is 23-2185093.
- How much revenue does Phyllis & Norman Lipsett Foundation report?
- Phyllis & Norman Lipsett Foundation reported $93,147 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- What financial grade does Phyllis & Norman Lipsett Foundation have?
- CharityIndex grades Phyllis & Norman Lipsett Foundation C+, based on financial health (reserves and operating margin).
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Data for Phyllis & Norman Lipsett Foundation (EIN 23-2185093) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.