The Phyllis & Norman Lipsett
The Phyllis & Norman Lipsett is a private foundation, based in WATCHUNG, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.8M in total assets. In 2024, it awarded 1 grants totaling $45K. Net investment income was $38K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.8M
+1.0% YoY
Annual Giving
$45K
-59.0% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$45K
-59.0% YoY
Under IRS private-foundation payout rules, The Phyllis & Norman Lipsett reported a distributable amount of $111K for 2024 — the minimum it must pay out in qualifying distributions.
About The Phyllis & Norman Lipsett
Based on IRS filings
The Phyllis & Norman Lipsett is a private foundation, based in WATCHUNG, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.8M in total assets. In 2024, it awarded 1 grants totaling $45K. Net investment income was $38K.
Ready to take the next step with The Phyllis & Norman Lipsett?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,774,768 | $1,757,526 | $1,885,141 |
| Revenue | $93,147 | $7,770 | $137,484 |
| Expenses | $75,905 | $135,385 | $114,923 |
| Qualifying Distributions | $49,219 | $113,503 | $88,793 |
| Net Investment Income | $38,110 | $34,191 | $111,354 |
| Distributable Amount | $110,824 | $98,790 | $108,344 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
5 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include See Attached Schedule ($45,350).
| Recipient | Purpose | Amount |
|---|---|---|
| SEE ATTACHED SCHEDULE WATCHUNG, NJ | GENERAL PURPOSES | $45,350 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JULIE LIPSETT-SINGER | VICE PRES/SE | — | — |
| BETH BERMAN | VICE PRESIDE | — | — |
| YALE LIPSETT | VICE PRESIDE | — | — |
Frequently Asked Questions
How large is The Phyllis & Norman Lipsett?
As of 2024, The Phyllis & Norman Lipsett holds $1.8M in total assets with $93K in annual revenue. It awarded 1 grants totaling $45K in 2024.
Where does The Phyllis & Norman Lipsett operate?
The Phyllis & Norman Lipsett has awarded grants in New Jersey.
What size grants does The Phyllis & Norman Lipsett award?
In 2024, The Phyllis & Norman Lipsett awarded 1 grants totaling $45K — an average of about $45K per grant, based on its IRS Form 990 filings.
How much is The Phyllis & Norman Lipsett required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Phyllis & Norman Lipsett reported a distributable amount of $111K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Phyllis & Norman Lipsett's EIN?
The Phyllis & Norman Lipsett's EIN (Employer Identification Number) is 23-2185093. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.