Philips University Legacy Foundation Inc
- Assets
- $4.9m
- Revenue
- $672.3k
- Investments
- $0.0
- Employees
- 7
- Location
- Enid, OK
- Founding
- 11/2000
- Data as of
- 06/2022
- EIN
- 73-1585868
Organization Overview
Philips University Legacy Foundation Inc is located in Enid, OK. The organization was established in 2000. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Philips University Legacy Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philips University Legacy 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 06/2022, Philips University Legacy Foundation Inc generated $672.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $605.9k during the year ending 06/2022. While expenses have increased by 12.7% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF PHILIPS UNIVERSITY LEGACY FOUNDATION IS TO DEVELOP LEADERS WHO WILL TRANSFORM THE WORLD BY PROVIDING LEADERSHIP DEVELOPMENT AND SCHOLARSHIPS THAT HONOR THE LEGACY OF PHILLIPS UNIVERSITY WHILE MAKING EDUCATION MORE ACCESSIBLE, AFFORDABLE AND TRANSFORMATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PHILLIPS UNIVERSITY LEGACY FOUNDATION AWARDED UNDERGRADUATE SCHOLARSHIPS AND GRADUATE SCHOLARSHIPS DURING FY 2022. THE FOUNDATION HAD 20 VOLUNTEERS WHO DONATED A TOTAL OF 3079 HOURS OF VOLUNTEER SERVICE WITH AND ON BEHALF OF THE LEGACY SCHOLARSHIP AND LEADERSHIP DEVELOPMENT RECIPIENTS.
PHILLIPS UNIVERSITY LEGACY FOUNDATION PROVIDED LEADERSHIP DEVELOPMENT TRAINING FOR ITS SCHOLARSHIP RECIPIENTS WITH THE GOAL OF DEVELOPING THE LEADERSHIP SKILLS NECESSARY TO EMPOWER THEM TO BECOME LIFELONG LEADERS IN THEIR LOCAL AND GLOBAL COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Hendricks Director | Trustee | 1 | $0 |
David Gray Director | Trustee | 2 | $0 |
Kirby Gould Director | Trustee | 2 | $0 |
Joann Mcguire Director | Trustee | 2 | $0 |
Janetta Cravens Director | Trustee | 2 | $0 |
Mark Pumphrey Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $353,830 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $353,830 |
| Total Program Service Revenue | $0 |
| Investment income | $146,781 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $165,896 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $672,302 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $173,015 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $115,132 |
| Compensation of current officers, directors, key employees. | $18,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $72,217 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,320 |
| Payroll taxes | $18,248 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,336 |
| Fees for services: Accounting | $16,805 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,584 |
| Fees for services: Other | $8,752 |
| Advertising and promotion | $2,921 |
| Office expenses | $35,246 |
| Information technology | $25,533 |
| Royalties | $0 |
| Occupancy | $20,740 |
| Travel | $16,754 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,406 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,443 |
| Insurance | $5,415 |
| All other expenses | $1,381 |
| Total functional expenses | $605,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,949 |
| Savings and temporary cash investments | $97,520 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,848,922 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $834,670 |
| Total assets | $4,882,061 |
| Accounts payable and accrued expenses | $8,204 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,768 |
| Total liabilities | $10,972 |
| Net assets without donor restrictions | $4,871,089 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,882,061 |