Samuel L Phillips Family Foundation
- Assets
- $10.2m
- Revenue
- $312.8k
- Investments
- $8.5m
- Employees
- 0
- Location
- Spruce Pine, NC
- Founding
- 03/2002
- Data as of
- 12/2022
- EIN
- 56-2225556
Organization Overview
Samuel L Phillips Family Foundation is located in Spruce Pine, NC. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Samuel L 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 12/2022, Samuel L Phillips Family Foundation generated $312.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $835.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Samuel L Phillips Family Foundation has awarded 117 individual grants totaling $3,689,708. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES FUNDS FOR GENERAL SUPPORT FOR VARIOUS CHARITABLE ORGANIZATIONS. SEE PART XI FOR DETAILS.
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 |
|---|---|---|---|
Gina Phillips President | 25 | $5,000 | |
Fred L Stout Vice Preside | 2 | $5,000 | |
G Byron Phillips Treasurer | 5 | $5,000 | |
Van Phillips Secretary | 9 | $5,000 | |
Brandee Cook Board Member | 2 | $100 | |
Lindsey Canipe Board Member | 2 | $100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $280,482 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $32,285 |
| Capital Gain Net Income | $32,285 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $312,767 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,285 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $13,684 |
| Total operating and administrative expenses | $148,901 |
| Contributions, gifts, grants paid | $686,781 |
| Total expenses and disbursements | $835,682 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,372 |
| Savings and temporary cash investments | $1,677,443 |
| 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 | $1,732,415 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,627 |
| Total assets | $10,153,181 |
| 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, Samuel L Phillips Family Foundation has awarded $686,781 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
AMY WELLNESS FOUNDATION PURPOSE: GENERAL PURPOSE | $25,000 |
APPALACHIAN STATE UNIVERSITY PURPOSE: GENERAL PURPOSE | $20,000 |
DUKE UNIVERSITY PURPOSE: ASSISTANT SCHOLARSHIP | $5,000 |
BLUE RIDGE PARKWAY FOUNDATION PURPOSE: GENERAL PURPOSE | $2,000 |
EAST CAROLINA UNIVERSITY MEDICAL & PURPOSE: DENTAL SCHOLARSHIPS | $55,281 |
LILY BRANCH BAPTIST CHURCH PURPOSE: GENERAL PURPOSE | $500 |