philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Jerome Lippett Memorial Trust

Tax-deductible

Saint Louis, MO501(c)(3)EIN 85-6060908Revenue $10K in FY2025

On file with the IRSPo Box 505, 63166-0505 · Saint Louis, MOTax-exempt since Mar 1970Supporting organization — 509(a)(3)

Tell your story. Claim this org

To distribute income for the benefit of under-privileged children in and about the general vicinity and area of albuquerque, new mexico.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$5K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average surplus $3K a year · 19% of revenue · last 4 filings
Worth a look: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$5K
to officers and key staff · 37% of spending
Concern: pay to officers and key staff is 37% of spending; over 30%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$10K
+33% vs prior year
Spent
$13K
To programs
72%
Net assets
$268K
By yearFY2021–FY2025
Revenue
$10K
FY2025▲ +33%
Tap a bar for its year
Revenue by fiscal year
FY2021$19K
FY2022$37K
FY2023$9K
FY2024$8K
FY2025$10K
Expenses
$13K
FY2025▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$17K
FY2023$11K
FY2024$12K
FY2025$13K
Net assets
$268K
FY2025▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2021$255K
FY2022$276K
FY2023$274K
FY2024$270K
FY2025$268K

From the FY2025 Form 990 (year ending May 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1970.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $9K Management & general 28% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to fix it

Who runs it and what they're paid

4 people listed on the 990; $5K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$4,727Pt VII · Sec A
$0Pt VII · Sec A
Stephen Montoya
Board Member
$0Pt VII · Sec A
Jay F Boyd
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Wells Fargo Bank NA$4,727$4,350$4,246$4,894$4,469

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Jerome Lippett Memorial Trust executive salaries →

On this list? Claim this org

Something off? Claim to fix it

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Distributes income to benefit underprivileged children in the Albuquerque area.

Questions for Jerome Lippett Memorial Trust

Tap to ask. Jerome Lippett Memorial Trust sees how many people are interested.

Your first name shows with your question. Jerome Lippett Memorial Trust answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $9K · in their own filed words · FY2024
01

To distribute income for the benefit of the under-privileged children in and about the general vicinity and area of albuquerque new mexico.

$9Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$10K
Ln 12
Investment incomeLn 3$10K
Money outPt IX
$13K
Ln 25
Programscol B$9K
Managementcol C$4K
Owns and owesPt X
$268K
net assets · Ln 32
Cash and savingsLn 1–2$6K
Total assetsLn 16$268K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$10K
Gains on assetsLn 7$620
Total revenueLn 12$10K
Assets in detailPt X, end of year
SavingsLn 2$6K
Cash and savings togetherLn 1–2$6K
InvestmentsLn 11–13$262K
Total assetsLn 16$268K
LiabilitiesLn 26$0
Net assetsLn 32$268K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$5K$6K
InvestmentsLn 11–13$266K$262K
Total assetsLn 16$270K$268K
LiabilitiesLn 26$0$0
Net assetsLn 32$270K$268K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$6K$6K
Pay of current officers, directors and key staffLn 5$5K$1K$4K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$0$0
Other expenses (24a–d)Ln 24$48$48
Total functional expensesLn 25$13K$9K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $10K$13K−$3K$268K 990 PDF
FY2024 $8K$12K−$4K$270K 990 PDF
FY2023 $9K$11K−$1K$274K 990 PDF
FY2022 $37K$17K$21K$276K 990 PDF
FY2021 $19K$255K 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $10,101 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $7,620$10,101
I-11 Other revenue$0
I-12 Total revenuePrior year $7,620$10,101
I-13 Grants and similar amounts paidPrior year $5,506$6,035
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $4,351$4,727
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,750$2,118
I-18 Total expensesPrior year $11,607$12,880
I-19 Revenue less expensesPrior year −$3,987−$2,779
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $10,101 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $9,481$9,481
VIII-7 Net gain or loss on sales of assetsExcluded from tax $620$620
VIII-12 Total revenueExcluded from tax $10,101$10,101
Part IX · Statement of functional expenses $12,880 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $6,035$6,035
IX-5 Pay of current officers, directors and key staffPrograms $1,182 · Management $3,545$4,727
IX-11c Accounting feesPrograms $2,070$2,070
IX-11g Other fees for servicesManagement $0$0
IX-24 Other expenses (24a–d)Management $48$48
IX-25 Total functional expensesPrograms $9,287 · Management $3,593 · Fundraising $0$12,880
Part X · Balance sheet $267,609 assets, 6 lines filed
X-2 Savings and temporary cash investmentsStart of year $4,763$5,670
X-11 Publicly traded securitiesStart of year $265,618$261,939
X-16 Total assetsStart of year $270,381$267,609
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $270,381$267,609
X-33 Total liabilities and net assetsStart of year $270,381$267,609
Part XI · Reconciliation of net assets $267,609 net assets at year end
XI-1 Total revenue$10,101
XI-2 Total expenses$12,880
XI-3 Revenue less expenses−$2,779
XI-4 Net assets at start of year$270,381
XI-9 Other changes in net assets$7
XI-10 Net assets at end of year$267,609

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.