Lippincott Foundation Inc
Lippincott Foundation: Declining Assets, Inconsistent Spending
EIN: 222760718 · North Haven, CT · NTEE: T22 · Updated: 2026-04-04
Is Lippincott Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lippincott Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Lippincott Foundation Inc
Lippincott Foundation Inc (EIN: 222760718) is a nonprofit organization based in North Haven, CT, classified under NTEE code T22. The organization reported total revenue of $32K and total assets of $642K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lippincott Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lippincott Foundation Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Lippincott Foundation Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
The Lippincott Foundation consistently reports 0% compensation, suggesting no paid executive staff, which could indicate a volunteer-run organization or a lack of transparency regarding compensation sources if services are rendered.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Lippincott Foundation Inc's IRS 990 filings:
- Significant and continuous decline in total assets over the past decade, from $1,408,314 in 2014 to $641,987 in 2024.
- Highly erratic revenue figures year-over-year, making financial stability difficult to assess.
- Expenses frequently exceed revenue, leading to a depletion of assets.
- The 0% compensation reported across all years raises questions about how operational and administrative tasks are managed without paid staff.
Strengths
The following positive indicators were identified for Lippincott Foundation Inc:
- Consistent reporting of 0% compensation suggests a lean operational model, potentially maximizing funds for programs if effectively managed.
- Long operational history, with filings dating back to 2014, indicating sustained existence.
Frequently Asked Questions about Lippincott Foundation Inc
Is Lippincott Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lippincott Foundation Inc (EIN: 222760718) some concerns. Mission Score: 65/100. 4 red flags identified, 2 strengths noted.
How does Lippincott Foundation Inc spend its money?
Lippincott Foundation Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lippincott Foundation Inc tax-deductible?
Lippincott Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222760718). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Lippincott Foundation Inc do?
Lippincott Foundation Inc is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in North Haven, Connecticut. It is classified under NTEE code T22.
How much revenue does Lippincott Foundation Inc have?
Lippincott Foundation Inc reported total revenue of $31,709. Based on 11 IRS 990 filings on record.
What are Lippincott Foundation Inc's total assets?
Lippincott Foundation Inc holds total assets of $641,987 as reported in IRS 990 filings.
Where is Lippincott Foundation Inc located?
Lippincott Foundation Inc is based in North Haven, Connecticut.
What is Lippincott Foundation Inc's EIN?
Lippincott Foundation Inc's Employer Identification Number (EIN) is 222760718. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Lippincott Foundation Inc?
Lippincott Foundation Inc is classified under NTEE code T22 (Philanthropy, Voluntarism & Grantmaking).
Is Lippincott Foundation Inc a registered 501(c)(3)?
Yes, Lippincott Foundation Inc is recognized as a tax-exempt organization by the IRS. EIN: 222760718.
Does Lippincott Foundation Inc file IRS Form 990?
Yes, Lippincott Foundation Inc has 11 IRS Form 990 filings on record. The most recent covers tax period 202408.
What was Lippincott Foundation Inc's revenue in 2024?
In the 202408 filing period, Lippincott Foundation Inc reported total revenue of $40,609, total expenses of $67,010, and net assets of $679,001.
Is Lippincott Foundation Inc's revenue growing or declining?
Lippincott Foundation Inc's revenue is declining. Revenue went from $56,594 (202308) to $40,609 (202408), a -28.2% change. Based on 11 filings on record.
What is Lippincott Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Lippincott Foundation Inc covers tax period 202408. It shows revenue of $40,609, expenses of $67,010, total assets of $679,001, and liabilities of $1.
How much does Lippincott Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Lippincott Foundation Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Lippincott Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Lippincott Foundation Inc shows mixed signals. Mission Score: 65/100 (Good). 4 red flags identified. 2 strengths noted.
What are the red flags for Lippincott Foundation Inc?
The following concerns were identified: Significant and continuous decline in total assets over the past decade, from $1,408,314 in 2014 to $641,987 in 2024.. Highly erratic revenue figures year-over-year, making financial stability difficult to assess.. Expenses frequently exceed revenue, leading to a depletion of assets.. The 0% compensation reported across all years raises questions about how operational and administrative tasks are managed without paid staff.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Lippincott Foundation Inc's strengths?
Positive indicators for Lippincott Foundation Inc include: Consistent reporting of 0% compensation suggests a lean operational model, potentially maximizing funds for programs if effectively managed.. Long operational history, with filings dating back to 2014, indicating sustained existence.. These findings are derived from AI analysis of the organization's financial filings.
How does Lippincott Foundation Inc compensate executives?
The Lippincott Foundation consistently reports 0% compensation, suggesting no paid executive staff, which could indicate a volunteer-run organization or a lack of transparency regarding compensation sources if services are rendered. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent 0% compensation reported, how does Lippincott Foundation Inc. manage its administrative and operational functions, and what are the potential implications for its long-term sustainability?
The consistent 0% compensation suggests the foundation is either entirely volunteer-run or utilizes external, unpaid resources for its operations. This model can be highly efficient in minimizing overhead but may pose challenges for scalability, professionalization, and consistent operational capacity over the long term, especially with declining assets.
What factors contribute to the significant year-over-year volatility in revenue, and how does this impact the foundation's ability to plan and execute its mission effectively?
The extreme volatility in revenue, ranging from $2,119 in 2021 to $56,594 in 2023, suggests reliance on unpredictable funding sources, possibly large one-time donations or grants. This makes long-term financial planning and consistent program delivery challenging, potentially leading to stop-and-go operations or an inability to commit to multi-year initiatives.
Filing History
IRS 990 filing history for Lippincott Foundation Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2024), Lippincott Foundation Inc's revenue has grown by 146.5%, moving from $16K to $41K. Total assets decreased by 63.4% over the same period, from $1.9M to $679K. Total functional expenses fell by 42%, from $115K to $67K. In its most recent filing year (2024), Lippincott Foundation Inc reported a deficit of $26K, with expenses exceeding revenue. The organization holds $1 in liabilities against $679K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $679K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $41K | $67K | $679K | $1 | — | — |
| 2023 | $57K | $77K | $703K | $1 | — | View 990 |
| 2022 | $3K | $101K | $736K | $1 | — | — |
| 2021 | $2K | $87K | $870K | $1 | — | — |
| 2020 | $11K | $78K | $932K | $1 | — | View 990 |
| 2019 | $12K | $94K | $1.0M | $1 | — | — |
| 2015 | $16K | $121K | $1.3M | $1 | — | View 990 |
| 2014 | $3K | $115K | $1.4M | $1 | — | View 990 |
| 2013 | $14K | $150K | $1.5M | $1 | — | View 990 |
| 2012 | $-8,924 | $174K | $1.7M | $1 | — | View 990 |
| 2011 | $16K | $115K | $1.9M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $41K, expenses of $67K, and assets of $679K (revenue -28.2% year-over-year).
- 2023: Revenue of $57K, expenses of $77K, and assets of $703K (revenue +1800.4% year-over-year).
- 2022: Revenue of $3K, expenses of $101K, and assets of $736K (revenue +40.5% year-over-year).
- 2021: Revenue of $2K, expenses of $87K, and assets of $870K (revenue -79.9% year-over-year).
- 2020: Revenue of $11K, expenses of $78K, and assets of $932K (revenue -9.6% year-over-year).
- 2019: Revenue of $12K, expenses of $94K, and assets of $1.0M (revenue -27.8% year-over-year).
- 2015: Revenue of $16K, expenses of $121K, and assets of $1.3M (revenue +447.6% year-over-year).
- 2014: Revenue of $3K, expenses of $115K, and assets of $1.4M (revenue -79.5% year-over-year).
- 2013: Revenue of $14K, expenses of $150K, and assets of $1.5M.
- 2012: Revenue of $-8,924, expenses of $174K, and assets of $1.7M (revenue -154.2% year-over-year).
- 2011: Revenue of $16K, expenses of $115K, and assets of $1.9M.
Data Sources and Methodology
This transparency report for Lippincott Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.