Leonard J & Gloria Phillips Foundation Inc
- Assets
- $309.5k
- Revenue
- $15.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Clifton, NJ
- Founding
- 07/1985
- Data as of
- 03/2023
- EIN
- 22-2561173
Organization Overview
Leonard J & Gloria Phillips Foundation Inc is located in Clifton, NJ. The organization was established in 1985. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Leonard J & Gloria Phillips Foundation Inc 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 03/2023, Leonard J & Gloria Phillips Foundation Inc generated $15.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (13.0%) each year.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leonard J Phillips Foundation Mgr. | 1 | $0 | |
Gloria Phillips Asst Manager | 1 | $0 | |
Wayne Phillips Asst. Manager | 1 | $0 | |
Wendy Phillips Asst Manager | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $15,036 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $835 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $15,871 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $309,487 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $309,487 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Leonard J & Gloria Phillips Foundation Inc has awarded $46,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN COMMITTEE FOR SHAARE ZEDEK PURPOSE: MEDICAL RESEARCH | $5,000 |
ALEPH INSTITUE PURPOSE: MEDICAL RESEARCHMEDICAL RESEARCHMEDICAL RESEARCH | $250 |
THE VALLEY HOSPITAL PURPOSE: MEDICAL RESEARCHMEDICAL RESEARCH | $41,250 |