Jack & Mary Phillips Charitable Tr
- Assets
- $7.4m
- Revenue
- $624.5k
- Investments
- $4.4m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- Data as of
- 06/2022
- EIN
- 84-6912687
Organization Overview
Jack & Mary Phillips Charitable Tr is located in Detroit, MI. 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. Jack & Mary Phillips Charitable Tr 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, Jack & Mary Phillips Charitable Tr generated $624.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (70.3%) each year. All expenses for the organization totaled $870.0k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $81,722 |
| Net Rental Income | -$2,458 |
| Net Gain on Sale of Assets | $420,860 |
| Capital Gain Net Income | $420,860 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $119,245 |
| Total Revenue | $624,494 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $29,810 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,039 |
| Depreciation | $16,508 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $167,590 |
| Total operating and administrative expenses | $296,104 |
| Contributions, gifts, grants paid | $573,943 |
| Total expenses and disbursements | $870,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,007,540 |
| Savings and temporary cash investments | $0 |
| 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 | $2,384,786 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,407,527 |
| 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, Jack & Mary Phillips Charitable Tr has awarded $573,943 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
LIMESTONE HISTORICAL MUSEUM PURPOSE: SUPPORT FOR DAILY | $271,543 |
FIRST PRESBYTERIAN CHURCH PURPOSE: SUPPORT FOR DAILY | $61,200 |
TEXAS CHILDRENS HOSPITAL PURPOSE: CLEFT LIP & PALATE PROGRAM | $61,200 |
COMMUNITIES FOUNDATION OF TEXAS INC PURPOSE: SUPPORT OF DAILY OPERATIONS | $100,000 |
UNIVERSITY OF NORTH TEXAS PURPOSE: GRADUATE STUDY PROGRAM | $80,000 |