Frank Phillips Foundation Inc
- Assets
- $42.0m
- Revenue
- $4.3m
- Investments
- $24.2m
- Employees
- 0
- Location
- Bartlesville, OK
- Founding
- 08/1952
- Data as of
- 12/2022
- EIN
- 73-0636562
Organization Overview
Frank Phillips Foundation Inc is located in Bartlesville, OK. The organization was established in 1952. 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. Frank 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 12/2022, Frank Phillips Foundation Inc generated $4.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $3.0m during the year ending 12/2022. While expenses have increased by 0.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATIONAL PROGRAMS TO THE GENERAL PUBLIC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Merl Lindstrom Chairman | 1 | $0 | |
Kay Sallee Trustee | 1 | $0 | |
John Viskup Trustee | 1 | $0 | |
Matt Epperson Trustee | 1 | $0 | |
F Ford Drummond Vice Chairman | 1 | $0 | |
Gentra Sorem Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $804,912 |
| Interest on Savings | $0 |
| Dividends & Interest | $540,036 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,747,029 |
| Capital Gain Net Income | $1,747,029 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $399,010 |
| Other Income | $776,143 |
| Total Revenue | $4,267,130 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $272,086 |
| Other employee salaries and wages | $864,375 |
| Pension plans, employee benefits | $250,808 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $474,601 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $10,108 |
| Printing and publications | $14,686 |
| Other expenses | $1,055,562 |
| Total operating and administrative expenses | $2,988,640 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,988,640 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,070,809 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $75,759 |
| 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 | $262,996 |
| Prepaid expenses and deferred charges | $63,439 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $10,870,240 |
| Net Land, buildings, and equipment | $5,893,873 |
| Other assets | $10,414,103 |
| Total assets | $42,022,779 |
| Accounts payable and accrued expenses | $197,497 |
| Grants payable | $0 |
| Deferred revenue | $54,462 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $354,709 |
| Total liabilities | $606,668 |