Kermit G Phillips Ii Charitable Tr
- Assets
- $71.5m
- Revenue
- $5.2m
- Investments
- $69.9m
- Employees
- 0
- Location
- Greensboro, NC
- Founding
- 09/2002
- Data as of
- 12/2021
- EIN
- 04-6977585
Organization Overview
Kermit G Phillips Ii Charitable Tr is located in Greensboro, NC. The organization was established in 2002. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kermit G Phillips Ii Charitable Tr is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Kermit G Phillips Ii Charitable Tr generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 50.4% each year . All expenses for the organization totaled $3.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Kermit G Phillips Ii Charitable Tr has awarded 61 individual grants totaling $15,174,490. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC RESPONSIBILITY: THE PHILLIPS FOUNDATION SEEKS TO ENHANCE THE RESULTS OF ITS GRANTMAKING IN EDUCATION TO GROW EDUCATION-RELATED INITIATIVES. LEVERAGING ITS BODY OF WORK, THE FOUNDATION WILL DEVELOP PROGRAMS, COLLABORATIONS AND TECHNOLOGY DESIGNED TO INSPIRE LEARNING AND ADDRESS IMPEDIMENTS TO CHILDREN, YOUTH AND ADULTS REACHING THEIR FULL POTENTIAL AS GENEROUS AND IMPACT DRIVEN INDIVIDUALS. THROUGH EXPLORATION OF PARTNERSHIPS WITH OTHERS IN THE FIELD, COUPLED WITH ORIGINAL PROGRAMS DESIGNED TO EDUCATE CHILDREN, YOUTH AND ADULTS ABOUT GENEROSITY, STEWARDSHIP, COMMUNITY NEEDS AND SOCIAL RESPONSIBILITY, THE FOUNDATION WILL INNOVATE, CONVENE AND COLLABORATE TO EFFECT POSITIVE CHANGE.
IMPACT INVESTING: THE PHILLIPS FOUNDATION SEEKS TO CREATE A PLATFORM TO AMPLIFY SOCIAL AND ENVIRONMENTAL VALUE THROUGH FINANCIAL INVESTMENTS, A PRACTICE KNOWN AS IMPACT INVESTING. THROUGH A SERIES OF EVENTS, GATHERINGS AND COLLABORATIONS THAT BRING TOGETHER A VARIETY OF STAKEHOLDERS, THE FOUNDATION WILL MEET THIS MISSION-RELATED GOAL THROUGH ACTIVITIES INCLUDING BUT NOT LIMITED TO: PROVIDING EDUCATIONAL PROGRAMS, CONDUCTING RESEARCH, PUBLISHING RESOURCES, CONVENING PARTNERS, FOSTERING COLLABORATION, CREATING DEALFLOW AND EXPLORING OPPORTUNITIES.
SOCIAL SECTOR LEADERSHIP: THE PHILLIPS FOUNDATION SEEKS TO STRENGTHEN THE ABILITY OF NONPROFITS TO ACCOMPLISH THEIR CHARITABLE MISSIONS BY EMPOWERING THE NONPROFIT SECTOR TO EMPLOY EXEMPLARY GOVERNANCE AND EXECUTIVE LEADERSHIP PRACTICES. THE FOUNDATION WILL CONDUCT RESEARCH, ENGAGE WITH STRATEGIC PARTNERS AND DEVELOP PROGRAMS AND RESOURCES DESIGNED TO EQUIP NONPROFITS, PHILANTHROPIC INSTITUTIONS AND THEIR LEADERS TO ENACT SYSTEMIC CHANGE. WITH AN EMPHASIS ON ACCOUNTABILITY AND INNOVATION, THE FOUNDATION WILL PROMOTE AND ADVOCATE FOR EXEMPLARY LEADERSHIP AND GOVERNANCE. IN TURN, THIS WILL ENABLE NONPROFITS AND PHILANTHROPISTS TO MAXIMIZE THEIR LEVEL OF IMPACT.
CRISIS PREVENTION: THE PHILLIPS FOUNDATION SEEKS TO LEVERAGE THE FOUNDATION'S EXISTING GRANT PARTNERSHIPS TO EVOLVE TOWARD UPSTREAM PREVENTION OF SOCIAL ISSUES BY ADDRESSING ROOT PROBLEMS OF FAMILY BREAKDOWN AND DYSFUNCTION THROUGH RESEARCH-BASED TOOLS FOR HEALTHY RELATIONSHIPS, SELF-SUFFICIENCY AND FAMILY WELLNESS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine Phillips Trustee | 0 | $0 | |
Keith Phillips Trustee | 0 | $0 | |
Kert Phillips Trustee | 0 | $0 | |
Kevin Phillips Trustee | 0 | $0 | |
Peter Gilchrist Trustee | 0 | $0 | |
Erica K Shields Managing Director | 40 | $171,197 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Cicero Group Lp | 12/30/22 | $53,950 |
Morgan Stanley | 12/30/22 | $263,068 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $963,706 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,761,306 |
| Capital Gain Net Income | $3,761,306 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $510,452 |
| Total Revenue | $5,235,464 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $106,797 |
| Other employee salaries and wages | $415,625 |
| Pension plans, employee benefits | $79,568 |
| Interest | $0 |
| Taxes | $34,586 |
| Depreciation | $2,717 |
| Occupancy | $144,097 |
| Travel, conferences, and meetings | $4,417 |
| Printing and publications | $0 |
| Other expenses | $572,315 |
| Total operating and administrative expenses | $1,785,515 |
| Contributions, gifts, grants paid | $1,500,092 |
| Total expenses and disbursements | $3,285,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,074 |
| Savings and temporary cash investments | $868,320 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $23,638,456 |
| Net Land, buildings, and equipment | $488,752 |
| Other assets | $201,796 |
| Total assets | $71,515,607 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $33,535 |
| Total liabilities | $33,535 |
Grants Awarded
Over the last fiscal year, Kermit G Phillips Ii Charitable Tr has awarded $1,862,120 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
NEW VENTURE FUND PURPOSE: THE TIPPING POINT | $250,000 |
PANORAMA GLOBAL PURPOSE: OPERATIONS AND PROGRAM SUPPORT | $276,000 |
SHIFT EDUCATION PURPOSE: OPERATIONS AND PROGRAM SUPPORT | $500,000 |
DRK FOUNDATION PURPOSE: OPERATIONS AND PROGRAM SUPPORT | $325,000 |
COMMUNITY FOUNDATION OF GREATER GSO PURPOSE: OPERATIONS AND PROGRAM SUPPORT | $486,120 |
THE IMPACT PURPOSE: OPERATIONS AND PROGRAM SUPPORT | $25,000 |