Phillips Family Foundation
- Assets
- $2.3m
- Revenue
- $467.3k
- Investments
- $2.3m
- Employees
- 0
- Location
- Midlothian, VA
- Founding
- 05/2001
- Data as of
- 12/2023
- EIN
- 25-6716692
Organization Overview
Phillips Family Foundation is located in Midlothian, VA. The organization was established in 2001. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Phillips Family Foundation 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 12/2023, Phillips Family Foundation generated $467.3k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $218.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Phillips Family Foundation has awarded 101 individual grants totaling $683,051. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Virginia A Phillips Co-Trustee | 0.25 | $0 | |
Peter H Phillips Co-Trustee | 0.25 | $0 | |
David S Phillips Co-Trustee | 0.25 | $0 | |
Elizabeth A Davies Co-Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $330,481 |
| Interest on Savings | $0 |
| Dividends & Interest | $79,335 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $56,641 |
| Capital Gain Net Income | $56,641 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $846 |
| Total Revenue | $467,303 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,520 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $27,669 |
| Contributions, gifts, grants paid | $190,405 |
| Total expenses and disbursements | $218,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $75,670 |
| 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 | $2,338,771 |
| 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, Phillips Family Foundation has awarded $190,405 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
BETHESDA MISSION OF HARRISBURG PURPOSE: COMMUNITY ASSISTANCE | $2,500 |
APPALACHIAN TRAIL CONSERVANCY PURPOSE: ENVIRONMENTAL | $2,500 |
BOSTON YOUTH SYMPHONY ORCHESTRA PURPOSE: PERFORMING ARTS | $1,000 |
COMMUNITY FOUNDATION FOR NANTUCKET PURPOSE: COMMUNITY ASSISTANCE | $1,000 |
CORAL RESTORATION FOUNDATION PURPOSE: ENVIRONMENTAL | $7,905 |
CATHOLIC RELIEF SERVICES PURPOSE: RELIGIOUS | $30,000 |