EIN 23-7051152

The Morello Foundation

IRS 501(c) type
501(c)(3)
Num. employees
Unknown
Year formed
1970
Most recent tax filings
2022-12-01
NTEE code, primary
Description
The Morello Foundation is a private foundation located in Ocean City, NJ that primarily funds scholarships. Its purpose is to donate to a school for scholarships and local charitable organizations. Grantees include Our Lady Of Mercy Academy and others, with two grants made last year.
Total revenues
$15,740
2022
Total expenses
$20,188
2022
Total assets
$325,876
2022
Num. employees
n/a

Program areas at The Morello Foundation

The organization donates to a school to be used for scholarships
The organization donates to local charitable organizations based upon submission of information to The Foundation.
The only assets owned by The Foundation are securities, and temporary cash
Investments - The income generated pays scholarship awards to area students and /or schools to provide scholarships to students. Expenses are for excise tax and advertising. The remaining funds are to be used for future scholarships.

Grants made by The Morello Foundation

GranteeGrant descriptionAmount
Shore Medical CenterScholarship$5,000

Personnel at The Morello Foundation

NameTitleCompensation
Michael A MorelloTrustee$0

Financials for The Morello Foundation

RevenuesFYE 12/2022
Total grants, contributions, etc.$0
Investment income and dividends$6,572
Net rental income$0
Net gain from sale of non-inventory assets$9,168
Gross sales of inventory$0
Miscellaneous revenues$0
Total revenues$15,740

Form 990s for The Morello Foundation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-05-04990PFView PDF
2020-122021-11-12990PFView PDF
2019-122022-01-26990PFView PDF
2018-122020-02-03990PFView PDF
2017-122019-02-27990PFView PDF
...and 6 more Form 990s

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OrganizationLocationRevenue
The Dobson FoundationStevensville, MD$30,074
Tony Potoski Scholarship FoundationPe Ell, WA$6,369
Dibenedetto Family FoundationMelville, NY$57,785
Woolsey Scholarship FundKingman, KS$12,386
Edmund J and Afton S Greenwell FoundationMantua, UT$37,116
Helen F Wylie FoundationDallas, TX$63,828
Southwestern Urban FoundationOklahoma City, OK$38,201
California Behavior InstituteSan Diego, CA$4,525
R G Andres Memorial FundMilwaukee, WI$41,317
Lee Scott Rubin MemorialPittsburgh, PA$5,572
Data update history
July 11, 2023
Posted financials
Added Form 990PF for fiscal year 2022
July 3, 2023
Updated personnel
Identified 1 new personnel
July 1, 2023
Posted financials
Added Form 990PF for fiscal year 2020
May 14, 2023
Updated personnel
Identified 1 new personnel
May 10, 2023
Used new vendors
Identified 1 new vendor, including
Nonprofit Types
Grantmaking organizationsPrivate foundationsPrivate non-operating foundationsCharities
Issues
Education
Characteristics
Provides grantsPartially liquidatedState / local levelTax deductible donationsNo full-time employees
General information
Address
180 Bay Rd
Ocean City, NJ 08226
Metro area
Ocean City, NJ
Phone
(609) 947-1202
IRS details
EIN
23-7051152
Fiscal year end
December
Taxreturn type
Form 990-PF
Year formed
1970
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
T20: Private Foundations
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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