The Hannah Lips Foundation
- Assets
- $396.4k
- Revenue
- $15.0k
- Investments
- $286.8k
- Employees
- 0
- Location
- Faribault, MN
- Founding
- 03/1979
- Data as of
- 10/2021
- 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 10/2021, Hannah Lips Foundation generated $15.0k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $8.1k during the year ending 10/2021. 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
2021
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 |
|---|---|---|---|
Curt Becher Treasurer | 0.1 | $580 | |
Debbie Bellingham Secretary | 0.1 | $580 | |
Debbie Purfeerst President | 0.1 | $145 | |
Ruth Mccormick Former President | 0.1 | $145 | |
Mary Isaacson Director | 0.1 | $145 | |
Debra Kuball Vice Pres. | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $17,583 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,546 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $15,037 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,595 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $367 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $50 |
| Printing and publications | $0 |
| Other expenses | $224 |
| Total operating and administrative expenses | $3,586 |
| Contributions, gifts, grants paid | $4,471 |
| Total expenses and disbursements | $8,057 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,104 |
| Savings and temporary cash investments | $90,533 |
| 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 | $286,809 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $396,446 |
| 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 $4,471 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CANNON VALLEY SPECIAL ED PURPOSE: SCHOLARSHIPS - HEALTH FIELD | $2,471 |
Duluth, MN PURPOSE: SCHOLARSHIPS - HEALTH FIELD | $1,000 |
Minneapolis, MN PURPOSE: SCHOLARSHIPS - HEALTH FIELD | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
3m Foundation St Paul, MN | $11,832,463 | $7,120,220 |
Richard O Jacobson Foundation Inc Des Moines, IA | $24,841,991 | $13,826,505 |
The Ceres Trust Milwaukee, WI | $8,473,497 | $7,541,315 |
New Jci Foundation Inc Milwaukee, WI | $45,616,522 | $3,307,387 |
Hugh J Andersen Foundation Bayport, MN | $156,260,583 | $11,255,430 |
Hall-Perrine Foundation Cedar Rapids, IA | $140,581,654 | $14,980,430 |
Dohmen Company Foundation Inc Milwaukee, WI | $0 | $9,439,356 |
Xcel Energy Foundation Minneapolis, MN | $11,307,736 | $67,424 |
Patrick & Aimee Butler Family Foundation St Paul, MN | $109,951,624 | $8,639,825 |
Mead Witter Foundation Inc Wisconsin Rapids, WI | $51,357,757 | $5,357,467 |
Comer Science And Education Foundation Waukesha, WI | $78,906,538 | $1,965,731 |