The Morello Foundation

990PF • Fiscal year 2023 • EIN 23-7051152

Jan 01, 2023 to Dec 31, 2023 • Filed on May 16, 2024

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.

2023 filings • <$500k nonprofits • Source year 2023

0.00x

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

2023 filings • <$500k nonprofits • Source year 2023

1.4%

Higher net margin than 48% of similar nonprofits.

2023 filings • <$500k nonprofits • Source year 2023

Higher top officer pay than 79% of similar nonprofits.

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

2023 filings • <$500k nonprofits • Source year 2023

0.1%

Faster asset growth than 51% of similar nonprofits.

2023 filings • <$500k nonprofits • Annualized from 2022 to 2023

38%

Faster revenue growth than 76% of similar nonprofits.

2023 filings • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet

Liabilities / Assets60th percentile

Assets

$326,171

Up $295 (+0.1%) from 2022

Net Assets

$326,171

Up $295 (+0.1%) from 2022

Liabilities

Flat

Flat from 2022

Revenue And Expenses

Liabilities / Revenue60th percentile Net Margin48th percentile

Revenue

$21,666

Up $5,926 (+38%) from 2022

Expenses

$21,371

Up $1,183 (+5.9%) from 2022

Net Income

$295

Up $4,743 (+107%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

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

Highlighted filing

2023

Assets$326,171

Liabilities$0

Net Assets$326,171

Open 2023 Filing

Operations Trend

Revenue Growth76th percentile

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

Highlighted filing

2023

Revenue$21,666

Expenses$21,371

Net Income$295

Open 2023 Filing

Jump To

Filing Snapshot

Filing Period: Jan 1, 2023 to Dec 31, 2023
Signed: May 16, 2024
Return Version: 2023v5.0

Compensation and Service Providers

Top Officer Pay79th 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: 2024-05-16
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 Appendix345 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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IRS990PF/StatementsRegardingActy4720Grp/NoncharitablePurposeInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/PayCompDisqualifiedPrsnInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/PaymentToGovernmentOfficialInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/PayPremiumsPrsnlBnftCntrctInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/ProhibitedTaxShelterTransInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/RcvFndsToPayPrsnlBnftCntrctInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/SaleOrExchDisqualifiedPrsnInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/SubjToTaxRmnrtnExPrchtPymtInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/TransferAstDisqualifiedPrsnInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPriorActsInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPYJeopardyInvstInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/UndistributedIncomePYInd	0	false
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 SCHOOLS 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	5000
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt	1	8000
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt	2	4000
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	0	SCHOLARSHIP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	1	SCHOLARSHIP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	2	SCHOLARSHIP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	0	SHORE MEDICAL CENTER
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	0	EOF
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	1	EOF
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	2	EOF
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientPersonNm	0	OUR LADY OF MERCY ACADEMY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientPersonNm	1	SAINT AUGUSTINE PREP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt	0	NONE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt	1	NONE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt	2	NONE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	0	328 VINE STREET
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	1	1001 MAIN ROAD
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	2	611 CEDAR AVE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	0	HAMMONTON
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	1	NEWFIELD
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	2	RICHLAND
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	0	NJ
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	1	NJ
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	2	NJ
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	0	08037
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	1	08344
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	2	08350
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
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	0	ADVISOR FEES
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	1	FOREIGN TAXES PAID
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	2	PENDING TRANSACTIONS
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	0	1759
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	1	178
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	2	105
TaxesSchedule/TaxesDetail/Amt	0	219
TaxesSchedule/TaxesDetail/CategoryTxt	0	TAXES - IRS
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd	0	AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd	0	FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd	0	IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd	0	3
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	2024-05-16
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	2024-05-16T04:22:21-07:00
ReturnHeader/ReturnTypeCd	0	990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm	0	MICHAEL A
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm	0	MORELLO
ReturnHeader/TaxPeriodBeginDt	0	2023-01-01
ReturnHeader/TaxPeriodEndDt	0	2023-12-31
ReturnHeader/TaxYr	0	2023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing

Assets: $326,171
Liabilities: $0
Net assets: $326,171
Revenue: $21,666
Expenses: $21,371
Net income: $295

	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