The Morello Foundation

990PF • Fiscal year 2022 • EIN 23-7051152

Jan 01, 2022 to Dec 31, 2022 • Filed on May 04, 2023

Organization Profile

180 Bay RoadOcean City, NJ 08226

(609) 947-1202

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • <$500k nonprofits • Source year 2022

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • <$500k nonprofits • Source year 2022

-28%

Higher net margin than 18% of similar nonprofits.

2022 filings • <$500k nonprofits • Source year 2022

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • <$500k nonprofits • Source year 2022

-1.3%

Faster asset growth than 46% of similar nonprofits.

2022 filings • <$500k nonprofits • Annualized from 2021 to 2022

-22%

Faster revenue growth than 24% of similar nonprofits.

2022 filings • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet

Liabilities / Assets59th percentile

Assets

Down

$325,876

Down $4,450 (-1.3%) from 2021

Net Assets

Down

$325,876

Down $4,448 (-1.3%) from 2021

Liabilities

Down

Down $2 (-100%) from 2021

Revenue And Expenses

Liabilities / Revenue59th percentile Net Margin18th percentile

Revenue

Down

$15,740

Down $4,503 (-22%) from 2021

Expenses

$20,188

Up $852 (+4.4%) from 2021

Net Income

Down

-$4,448

Down $5,355 (-590%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

Highlighted filing

2022

Assets$325,876

Liabilities$0

Net Assets$325,876

Open 2022 Filing

Operations Trend

Revenue Growth24th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

Highlighted filing

2022

Revenue$15,740

Expenses$20,188

Net Income-$4,448

Open 2022 Filing

Jump To

Filing Snapshot

Filing Period: Jan 1, 2022 to Dec 31, 2022
Signed: May 4, 2023
Return Version: 2022v5.0

Compensation and Service Providers

Top Officer Pay78th percentile

Employees

Name	Title	Full / Part Time	Base	Other	Total
MICHAEL A MORELLO	Trustee	-	$0	-	-
MATTHEW MORELLO	Trustee	-	$0	-	-
JENNIFER MORELLO FISS	Trustee	-	$0	-	-

Filing and Contact Details

Filer

Filer Name: The Morello Foundation
EIN: 23-7051152
Phone: 6099471202
Address: 180 BAY ROAD, OCEAN CITY, NJ 08226

Signing Officer

Name: Michael a Morello
Title: Trustee
Signed: 2023-05-04
Discuss with paid preparer: Yes

Preparer

Firm: Ford Scott & Associates LLC
Address: 1535 Haven Avenue, Ocean City, NJ 08226
Preparer: John A Sabella CPA
Phone: 6093996333

Raw XML Appendix329 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/EOYFMVAmt	0	55251
InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/EOYFMVAmt	1	10988
InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/StockNm	0	TRUSIST FINI CORP BB&T CORPORATION
InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/StockNm	1	BCE INC
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InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt	1	28371
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt	2	17709
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt	3	18970
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt	4	14988
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt	5	1625
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt	6	15982
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt	7	15000
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt	8	73389
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt	0	CULLEN HIGH DIV EQTY FD
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt	1	DF DENT MIDCAP GWTH FD
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InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt	3	TOUCHSTONE LARGE CO
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt	4	VANGUARD MID CAP VALUE
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt	5	BLACKSTONE GROUP INC
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt	6	SPROTT PHYSICAL GOLD ETV: PHYS
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt	7	ALGER WEATHERBIE SPECIAL GROWTH
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt	8	US TREASURY
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InvestmentsOtherSchedule2/InvestmentsOtherGrp/EOYFMVAmt	1	43271
InvestmentsOtherSchedule2/InvestmentsOtherGrp/EOYFMVAmt	2	24863
InvestmentsOtherSchedule2/InvestmentsOtherGrp/EOYFMVAmt	3	21355
InvestmentsOtherSchedule2/InvestmentsOtherGrp/EOYFMVAmt	4	19339
InvestmentsOtherSchedule2/InvestmentsOtherGrp/EOYFMVAmt	5	3710
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InvestmentsOtherSchedule2/InvestmentsOtherGrp/EOYFMVAmt	8	73591
InvestmentsOtherSchedule2/InvestmentsOtherGrp/ListedAtCostOrFMVCd	0	AT COST
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InvestmentsOtherSchedule2/InvestmentsOtherGrp/ListedAtCostOrFMVCd	4	AT COST
InvestmentsOtherSchedule2/InvestmentsOtherGrp/ListedAtCostOrFMVCd	5	AT COST
InvestmentsOtherSchedule2/InvestmentsOtherGrp/ListedAtCostOrFMVCd	6	AT COST
InvestmentsOtherSchedule2/InvestmentsOtherGrp/ListedAtCostOrFMVCd	7	AT COST
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IRS990PF/AnalysisOfRevenueAndExpenses/ScheduleBNotRequiredInd	0	X
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IRS990PF/Form990PFBalanceSheetsGrp/OrganizationFollowsFASB117Ind	0	X
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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/CompOfHghstPdEmplOrNONETxt	0	NONE
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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm	0	MICHAEL A MORELLO
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm	1	MATTHEW MORELLO
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm	2	JENNIFER MORELLO FISS
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IRS990PF/StatementsRegardingActyGrp/ActivitiesNotPreviouslyRptInd	0	false
IRS990PF/StatementsRegardingActyGrp/AtLeast5000InAssetsInd	0	true
IRS990PF/StatementsRegardingActyGrp/ChangesToArticlesOrBylawsInd	0	false
IRS990PF/StatementsRegardingActyGrp/ComplyWithPublicInspRqrInd	0	true
IRS990PF/StatementsRegardingActyGrp/DonorAdvisedFundInd	0	false
IRS990PF/StatementsRegardingActyGrp/ForeignAccountsQuestionInd	0	false
IRS990PF/StatementsRegardingActyGrp/Form1120POLFiledInd	0	false
IRS990PF/StatementsRegardingActyGrp/Form990PFFiledWithAttyGenInd	0	true
IRS990PF/StatementsRegardingActyGrp/LegislativePoliticalActyInd	0	false
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/AddressLine1Txt	0	180 BAY ROAD
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/CityNm	0	OCEAN CITY
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/StateAbbreviationCd	0	NJ
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/ZIPCd	0	08226
IRS990PF/StatementsRegardingActyGrp/MoreThan100SpentInd	0	false
IRS990PF/StatementsRegardingActyGrp/NewSubstantialContributorsInd	0	false
IRS990PF/StatementsRegardingActyGrp/OrganizationDissolvedEtcInd	0	false
IRS990PF/StatementsRegardingActyGrp/OrgReportOrRegisterStateCd	0	NJ
IRS990PF/StatementsRegardingActyGrp/OwnControlledEntityInd	0	false
IRS990PF/StatementsRegardingActyGrp/PersonsWithBooksName/BusinessNameLine1Txt	0	THE FOUNDATION
IRS990PF/StatementsRegardingActyGrp/PhoneNum	0	6099471202
IRS990PF/StatementsRegardingActyGrp/PrivateOperatingFoundationInd	0	true
IRS990PF/StatementsRegardingActyGrp/Section508eRqrSatisfiedInd	0	true
IRS990PF/StatementsRegardingActyGrp/UnrelatedBusIncmOverLimitInd	0	false
IRS990PF/StatementsRegardingActyGrp/WebsiteAddressTxt	0	N/A
IRS990PF/SummaryOfDirectChrtblActyGrp/Description1Txt	0	THE ORGANIZATION DONATES TO A SCHOOL TO BE USED FOR SCHOLARSHIPS
IRS990PF/SummaryOfDirectChrtblActyGrp/Description2Txt	0	THE ORGANIZATION DONATES TO LOCAL CHARITABLE ORGANIZATIONS BASED UPON SUBMISSION OF INFORMATION TO THE FOUNDATION.
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses1Amt	0	0
IRS990PF/SupplementaryInformationGrp/ApplicationSubmissionInfoGrp/FormAndInfoAndMaterialsTxt	0	INFORMATION ON GRADES AND FINANCIAL SITUATION
IRS990PF/SupplementaryInformationGrp/ApplicationSubmissionInfoGrp/RecipientPersonNm	0	THE FOUNDATION
IRS990PF/SupplementaryInformationGrp/ApplicationSubmissionInfoGrp/RecipientPhoneNum	0	6099471202
IRS990PF/SupplementaryInformationGrp/ApplicationSubmissionInfoGrp/RecipientUSAddress/AddressLine1Txt	0	180 BAY ROAD
IRS990PF/SupplementaryInformationGrp/ApplicationSubmissionInfoGrp/RecipientUSAddress/CityNm	0	OCEAN CITY
IRS990PF/SupplementaryInformationGrp/ApplicationSubmissionInfoGrp/RecipientUSAddress/StateAbbreviationCd	0	NJ
IRS990PF/SupplementaryInformationGrp/ApplicationSubmissionInfoGrp/RecipientUSAddress/ZIPCd	0	08226
IRS990PF/SupplementaryInformationGrp/ApplicationSubmissionInfoGrp/RestrictionsOnAwardsTxt	0	NA
IRS990PF/SupplementaryInformationGrp/ApplicationSubmissionInfoGrp/SubmissionDeadlinesTxt	0	NA
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt	0	12000
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt	1	5000
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	0	SCHOLARSHIP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	1	SCHOLARSHIP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	0	OUR LADY OF MERCY ACADEMY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	1	SHORE MEDICAL CENTER
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	0	EOF
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	1	EOF
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt	0	NONE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt	1	NONE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	0	1001 MAIN ROAD
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	1	328 VINE STREET
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	0	NEWFIELD
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	1	HAMMONTON
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	0	NJ
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	1	NJ
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	0	08344
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	1	08037
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriPdDurYrAmt	0	17000
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/LoansOrLoanGuaranteesInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PerformanceOfServicesEtcInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PurchaseOfAssetsNonchrtblEOInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/ReimbursementArrangementsInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RelationshipsNonchrtblEOInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RentalOfFacilitiesOthAssetsInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SalesOrExchangesOfAssetsInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SharingOfFacilitiesEtcInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOfCashToNonchrtblEOInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOtherAssetNonchrtblEOInd	0	false
LegalFeesSchedule/LegalFeesGrp/AdjustedNetIncomeAmt	0	0
LegalFeesSchedule/LegalFeesGrp/CategoryTxt	0	LEGAL
LegalFeesSchedule/LegalFeesGrp/DisbursementsCharitablePrpsAmt	0	0
LegalFeesSchedule/LegalFeesGrp/LegalFeesAmt	0	1563
LegalFeesSchedule/LegalFeesGrp/NetInvestmentIncomeAmt	0	0
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	0	ADVISOR FEES
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	1	BANK CHARGES
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	2	FOREIGN TAXES PAID
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	0	1438
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	1	12
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	2	175
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd	0	AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd	0	FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd	0	IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd	0	2
ReturnHeader/BuildTS	0	2023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	true
ReturnHeader/BusinessOfficerGrp/PersonNm	0	MICHAEL A MORELLO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	Trustee
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2023-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	THE MORELLO FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt	0	MORE
ReturnHeader/Filer/EIN	0	237051152
ReturnHeader/Filer/PhoneNum	0	6099471202
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	180 BAY ROAD
ReturnHeader/Filer/USAddress/CityNm	0	OCEAN CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	NJ
ReturnHeader/Filer/USAddress/ZIPCd	0	08226
ReturnHeader/IRSResponsiblePrtyInfoCurrInd	0	true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	222087086
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	Ford Scott & Associates LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	1535 Haven Avenue
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	Ocean City
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	08226
ReturnHeader/PreparerPersonGrp/PhoneNum	0	6093996333
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	John A Sabella CPA
ReturnHeader/ReturnTs	0	2023-05-04T06:23:27-07:00
ReturnHeader/ReturnTypeCd	0	990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm	0	MICHAEL A
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm	0	MORELLO
ReturnHeader/TaxPeriodBeginDt	0	2022-01-01
ReturnHeader/TaxPeriodEndDt	0	2022-12-31
ReturnHeader/TaxYr	0	2022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing

Assets: $325,876
Liabilities: $0
Net assets: $325,876
Revenue: $15,740
Expenses: $20,188
Net income: -$4,448

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$3.27	$0.00	$3.27	$0.21	$0.20	$0.01
2023Detailed filing. Detailed filing data is available for this year.	$3.26	$0.00	$3.26	$0.22	$0.21	$0.00
2022Detailed filing. Detailed filing data is available for this year.	$3.26	$0.00	$3.26	$0.16	$0.20	$0.04
2021Detailed filing. Detailed filing data is available for this year.	$3.30	$0.00	$3.30	$0.20	$0.19	$0.01
2020Detailed filing. Detailed filing data is available for this year.	$3.29	$0.00	$3.29	$0.22	$0.23	$0.45