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Nonprofit · EIN 23-2185093

PHYLLIS & NORMAN LIPSETT FOUNDATION

Tax-exempt · WATCHUNG, NJ 07069

Financials

$8K$135K2022$93K$76K2023$143K$102K2024
Revenue Expenses · by fiscal year end
Financials of PHYLLIS & NORMAN LIPSETT FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
August 31, 2025990-PF$143,261$101,584$41,677$1,816,445$0$1,816,445
August 31, 2024990-PF$93,147$75,905$17,242$1,774,768$0$1,774,768
August 31, 2023990-PF$7,770$135,385-$127,615$1,757,526$0$1,757,526
Financial details: 990-PF for the year ended August 31, 2025

Revenue

Dividends
$41,100
Interest
$7,098
Net gain from sales of assets
$73,800
Other income
$21,263

Expenses

Grants and similar amounts paid
$64,850
Disbursements for charitable purposes
$70,234
Excise tax on investment income
$1,556

Balance sheet and other

Total assets, start of year
$1,774,768
Total assets, end of year
$1,816,445
Total liabilities, end of year
$0
Net assets, end of year
$1,816,445
Fair market value of assets
$2,554,767
Qualifying distributions
$70,234
Net investment income
$143,261

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990-PF for the year ended August 31, 2025, highest compensation first.

NameTitleHours / weekCompensation
JULIE LIPSETT-SINGER
70 CARRAR DRIVE, WATCHUNG, NJ 07039
VICE PRES/SE0$0
BETH BERMAN
70 CARRAR DRIVE, WATCHUNG, NJ 07039
VICE PRESIDE0$0
YALE LIPSETT
70 CARRAR DRIVE, WATCHUNG, NJ 07039
VICE PRESIDE0$0
990-PF for the year ended August 31, 2024: 3 people
NameTitleHours / weekCompensation
JULIE LIPSETT-SINGER
70 CARRAR DRIVE, WATCHUNG, NJ 07039
VICE PRES/SE0$0
BETH BERMAN
70 CARRAR DRIVE, WATCHUNG, NJ 07039
VICE PRESIDE0$0
YALE LIPSETT
70 CARRAR DRIVE, WATCHUNG, NJ 07039
VICE PRESIDE0$0
990-PF for the year ended August 31, 2023: 3 people
NameTitleHours / weekCompensation
JULIE LIPSETT-SINGER
70 CARRAR DRIVE, WATCHUNG, NJ 07039
VICE PRES/SE0$0
BETH BERMAN
70 CARRAR DRIVE, WATCHUNG, NJ 07039
VICE PRESIDE0$0
YALE LIPSETT
70 CARRAR DRIVE, WATCHUNG, NJ 07039
VICE PRESIDE0$0

Address and contacts

Address (IRS master file)
70 CARRAR DR, WATCHUNG, NJ 07069-5833
In care of
% BROWN SCHULTZ SHERIDAN & FRI
Signed the 990-PF
JULIE LIPSETT-SINGER, VICE PRES/SECRETARY
Phone
(908) 377-9531
Return prepared by
BROWN PLUS

What it must file and when

IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in August, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025August 31, 2026January 15, 2027Not due yet
2024August 31, 2025January 15, 2026990-PF on file
2023August 31, 2024January 15, 2025990-PF on file

IRS record

EIN
23-2185093
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Private non-operating foundation
Donations deductible (Pub 78)
Private foundation, 30% limit
Exempt since
1981
Accounting year ends
August
Files
Form 990-PF
Assets (IRS master file)
$1,816,445
Income (IRS master file)
$664,858

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-PFAugust 2025$143,261$101,584$1,816,445XML
990-PFAugust 2024$93,147$75,905$1,774,768XML
990-PFAugust 2023$7,770$135,385$1,757,526XML
990-PFAugust 2022–––IRS
990-PFAugust 2021–––IRS
990-PFAugust 2020–––IRS
990-PFAugust 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-2185093).

Questions about PHYLLIS & NORMAN LIPSETT FOUNDATION

What is the EIN of PHYLLIS & NORMAN LIPSETT FOUNDATION?
The employer identification number (EIN) of PHYLLIS & NORMAN LIPSETT FOUNDATION is 23-2185093.
Is PHYLLIS & NORMAN LIPSETT FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1981.
Are donations to PHYLLIS & NORMAN LIPSETT FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
Which annual return does PHYLLIS & NORMAN LIPSETT FOUNDATION file?
Form 990-PF. Private foundations file every year.
When is the next return of PHYLLIS & NORMAN LIPSETT FOUNDATION due?
The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PHYLLIS & NORMAN LIPSETT FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990-PF for the year ended August 2025.
Who are the officers and directors of PHYLLIS & NORMAN LIPSETT FOUNDATION?
The 990-PF for the year ended August 31, 2025 lists 3 people; 0 received compensation from the organization.
How much revenue does PHYLLIS & NORMAN LIPSETT FOUNDATION have?
On its 990-PF for the year ended August 31, 2025 it reported revenue of $143,261, expenses of $101,584 and total assets of $1,816,445 at year end.

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