KERMIT G PHILLIPS II CHARITABLE TR: Form 990PF, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- KERMIT G PHILLIPS II CHARITABLE TR (EIN 04-6977585)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202413209349102531
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Accounting Fees Schedule
- Contractor Compensation Expln
- Depreciation Schedule
- Investments Corp Bonds Schedule
- Investments Corp Stock Schedule
- Investments Govt Obligations Sch
- Investments Other Schedule2
- Land Etc Schedule2
- Legal Fees Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Liabilities Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-15T07:49:42-08:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 934947887 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Kaitlin E Kirk | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 284 Country Place Ln | AddressLine1Txt |
| City | Van Alstyne | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 75495 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 046977585 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KERMIT G PHILLIPS II CHARITABLE TR | BusinessNameLine1Txt |
| Business Name Line2 | AKA PHILLIPS FOUNDATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | KERM | BusinessNameControlTxt |
| Phone | 2142380467 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1400 BATTLEGROUND AVE STE 201 | AddressLine1Txt |
| City | GREENSBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27408 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KEVIN PHILLIPS | PersonNm |
| Person Title | Trustee | PersonTitleTxt |
| Signature | 2024-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Kaitlin E Kirk | PreparerPersonNm |
| PTIN | P01360772 | PTIN |
| Phone | 9037445176 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $62,366,517 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Dividends Rev And Expnss | $1,001,891 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $1,001,891 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $1,773,501 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $1,773,501 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $1,773,501 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | -$118,287 | OtherIncomeRevAndExpnssAmt |
| Total Rev And Expnss | $2,657,105 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $2,775,392 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $336,972 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $286,426 | CompOfcrDirTrstDsbrsChrtblAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $372,080 | OthEmplSlrsWgsRevAndExpnssAmt |
| Oth Empl Slrs Wgs Dsbrs Chrtbl | $316,268 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Pension Empl Bnft Rev And Expnss | $42,637 | PensionEmplBnftRevAndExpnssAmt |
| Pension Empl Bnft Dsbrs Chrtbl | $36,241 | PensionEmplBnftDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $1,347 | LegalFeesRevAndExpnssAmt |
| Legal Fees Dsbrs Chrtbl | $1,347 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $55,941 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Chrtbl Prps | $47,549 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $1,256,628 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Dsbrs Chrtbl | $981,668 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $72,760 | TaxesRevAndExpnssAmt |
| Deprec And Dpltn Rev And Expnss | $444 | DeprecAndDpltnRevAndExpnssAmt |
| Occupancy Rev And Expnss | $151,306 | OccupancyRevAndExpnssAmt |
| Occupancy Dsbrs Chrtbl | $128,610 | OccupancyDsbrsChrtblAmt |
| Trav Conf Meeting Rev And Expnss | $22,435 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $19,902 | TravConfMeetingDsbrsChrtblAmt |
| Printing And Pub Rev And Expnss | $3,073 | PrintingAndPubRevAndExpnssAmt |
| Printing And Pub Dsbrs Chrtbl | $2,612 | PrintingAndPubDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $151,214 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Dsbrs Chrtbl | $144,145 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $2,466,837 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $1,964,768 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $1,442,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $1,442,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $3,908,837 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $3,406,768 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$1,251,732 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $2,775,392 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $125,678 | CashBOYAmt |
| Cash EOY | $335,875 | CashEOYAmt |
| Cash EOYFMV | $335,875 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $500,843 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $462,296 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $462,296 | SavAndTempCashInvstEOYFMVAmt |
| Acct Rcvbl | $1,611 | AcctRcvblAmt |
| Acct Rcvbl BOY | $751 | AcctRcvblBOYAmt |
| Acct Rcvbl EOY | $1,611 | AcctRcvblEOYAmt |
| Acct Rcvbl EOYFMV | $1,611 | AcctRcvblEOYFMVAmt |
| Prepaid Expenses EOY | $8,644 | PrepaidExpensesEOYAmt |
| Prepaid Expenses EOYFMV | $8,644 | PrepaidExpensesEOYFMVAmt |
| US Government Obligations BOY | $1,817,629 | USGovernmentObligationsBOYAmt |
| US Government Obligations EOY | $1,976,741 | USGovernmentObligationsEOYAmt |
| US Govt Obligations EOYFMV | $1,920,683 | USGovtObligationsEOYFMVAmt |
| Corporate Stock BOY | $41,398,752 | CorporateStockBOYAmt |
| Corporate Stock EOY | $38,769,066 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $47,157,175 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $1,408,330 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $1,330,038 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $1,240,857 | CorporateBondsEOYFMVAmt |
| Other Investments BOY | $12,914,470 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $5,713,877 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $10,217,038 | OtherInvestmentsEOYFMVAmt |
| Land Bldg Equip Cost Or Other Bss | $527,795 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $40,602 | LandBldgEquipAccumDeprecAmt |
| Land BOY | $487,637 | LandBOYAmt |
| Land EOY | $487,193 | LandEOYAmt |
| Land EOYFMV | $487,193 | LandEOYFMVAmt |
| Other Assets BOY | $200,000 | OtherAssetsBOYAmt |
| Other Assets EOY | $535,145 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $535,145 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $58,854,090 | TotalAssetsBOYAmt |
| Total Assets EOY | $49,620,486 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $62,366,517 | TotalAssetsEOYFMVAmt |
| Accounts Payable EOY | $12,368 | AccountsPayableEOYAmt |
| Other Liabilities BOY | $7,628 | OtherLiabilitiesBOYAmt |
| Other Liabilities EOY | $4,091,666 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $7,628 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,104,034 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Retained Earning BOY | $58,846,462 | RetainedEarningBOYAmt |
| Retained Earning EOY | $45,516,452 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $58,846,462 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $45,516,452 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $58,854,090 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $49,620,486 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $58,846,462 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$1,251,732 | ExcessRevenueOverExpensesAmt |
| Subtotal | $57,594,730 | SubtotalAmt |
| Other Decreases | $12,078,278 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $45,516,452 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $1,773,501 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $38,578 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $38,578 | SubtotalAmt |
| Tax Based On Investment Income | $38,578 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $41,995 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $41,995 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Overpayment | $3,417 | OverpaymentAmt |
| Applied To ES Tax | $3,417 | AppliedToESTaxAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | NC | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | https://phillipsfdtn.org/ | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Phillips Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2142380467 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1400 BATTLEGROUND AVE STE 201 | AddressLine1Txt |
| City | GREENSBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27408 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | false | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| KATHERINE PHILLIPS | ||||||
| 1400 BATTLEGROUND AVE STE 201 | GREENSBORO | NC | 27408 | Trustee | 0.00 | $0 |
| KEITH PHILLIPS | ||||||
| 1400 BATTLEGROUND AVE STE 201 | GREENSBORO | NC | 27408 | Trustee | 0.00 | $0 |
| KERT PHILLIPS | ||||||
| 1400 BATTLEGROUND AVE STE 201 | GREENSBORO | NC | 27408 | Trustee | 0.00 | $0 |
| KEVIN PHILLIPS | ||||||
| 1400 BATTLEGROUND AVE STE 201 | GREENSBORO | NC | 27408 | Trustee | 0.00 | $0 |
| PETER GILCHRIST | ||||||
| 1400 BATTLEGROUND AVE STE 201 | GREENSBORO | NC | 27408 | Trustee | 0.00 | $0 |
Compensation Highest Paid Empl CompensationHighestPaidEmplGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| ERICA K SHIELDS | ||||||
| PO Box 191123 | DALLAS | TX | 75219 | MANAGING DIRECTOR | 40.00 | $183,141 |
| CATHERINE H BURNETT | ||||||
| PO Box 191123 | DALLAS | TX | 75219 | CHIEF IMPACT OFFIC | 40.00 | $128,134 |
| MANDI S FREEMAN | ||||||
| PO Box 191123 | DALLAS | TX | 75219 | DIRECTOR OF OPER | 40.00 | $119,039 |
| LAUREN BALDWIN | ||||||
| PO Box 191123 | DALLAS | TX | 75219 | DIRECTOR OF STRAT | 40.00 | $113,952 |
| KATE KNIGHT | ||||||
| PO Box 191123 | DALLAS | TX | 75219 | DIRECTOR OF IMPACT | 25.00 | $73,906 |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| MORGAN STANLEY | |||||
| 333 W SAN CARLOS ST STE 1100 | SAN JOSE | CA | 95110 | INVESTMENT MANAGEMENT | $256,210 |
| EGL MEDIA LLC | |||||
| 330 FRANKLIN ROAD STE135A-246 | BRENTWOOD | TN | 37027 | DIGITAL AND SOCIAL STRAT | $98,000 |
| ISTOOK CONSULTING LLC | |||||
| 2241 GLENCO TER | FORT WORTH | TX | 76110 | PROGRAM CONSULTING | $68,170 |
| KAITLIN KIRK | |||||
| 284 COUNTRY PLACE LANE | VAN ALSTYNE | TX | 75495 | FINANCE AND ACCOUNTING | $55,941 |
| THE CICERO GROUP LP | |||||
| 35 N Rio Grande St | SALT LAKE CITY | UT | 84101 | APP DEVELOPMENT | $172,250 |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | PUBLIC RESPONSIBILITY: THE PHILLIPS FOUNDATION SEEKS TO ENHANCE THE RESULTS OF ITS GRANTMAKING IN EDUCATION TO GROW EDUCATION-RELATED INITIATIVES. LEVERAGING ITS BODY OF WORK, THE FOUNDATION WILL DEVELOP PROGRAMS, COLLABORATIONS AND TECHNOLOGY DESIGNED TO INSPIRE LEARNING AND ADDRESS IMPEDIMENTS TO CHILDREN, YOUTH AND ADULTS REACHING THEIR FULL POTENTIAL AS GENEROUS AND IMPACT DRIVEN INDIVIDUALS. THROUGH EXPLORATION OF PARTNERSHIPS WITH OTHERS IN THE FIELD, COUPLED WITH ORIGINAL PROGRAMS DESIGNED TO EDUCATE CHILDREN, YOUTH AND ADULTS ABOUT GENEROSITY, STEWARDSHIP, COMMUNITY NEEDS AND SOCIAL RESPONSIBILITY, THE FOUNDATION WILL INNOVATE, CONVENE AND COLLABORATE TO EFFECT POSITIVE CHANGE. | Description1Txt |
| Expenses1 | $2,510 | Expenses1Amt |
| Description2 | IMPACT INVESTING: THE PHILLIPS FOUNDATION SEEKS TO CREATE A PLATFORM TO AMPLIFY SOCIAL AND ENVIRONMENTAL VALUE THROUGH FINANCIAL INVESTMENTS, A PRACTICE KNOWN AS IMPACT INVESTING. THROUGH A SERIES OF EVENTS, GATHERINGS AND COLLABORATIONS THAT BRING TOGETHER A VARIETY OF STAKEHOLDERS, THE FOUNDATION WILL MEET THIS MISSION-RELATED GOAL THROUGH ACTIVITIES INCLUDING BUT NOT LIMITED TO: PROVIDING EDUCATIONAL PROGRAMS, CONDUCTING RESEARCH, PUBLISHING RESOURCES, CONVENING PARTNERS, FOSTERING COLLABORATION, CREATING DEALFLOW AND EXPLORING OPPORTUNITIES. | Description2Txt |
| Expenses2 | $510,140 | Expenses2Amt |
| Description3 | SOCIAL SECTOR LEADERSHIP: THE PHILLIPS FOUNDATION SEEKS TO STRENGTHEN THE ABILITY OF NONPROFITS TO ACCOMPLISH THEIR CHARITABLE MISSIONS BY EMPOWERING THE NONPROFIT SECTOR TO EMPLOY EXEMPLARY GOVERNANCE AND EXECUTIVE LEADERSHIP PRACTICES. THE FOUNDATION WILL CONDUCT RESEARCH, ENGAGE WITH STRATEGIC PARTNERS AND DEVELOP PROGRAMS AND RESOURCES DESIGNED TO EQUIP NONPROFITS, PHILANTHROPIC INSTITUTIONS AND THEIR LEADERS TO ENACT SYSTEMIC CHANGE. WITH AN EMPHASIS ON ACCOUNTABILITY AND INNOVATION, THE FOUNDATION WILL PROMOTE AND ADVOCATE FOR EXEMPLARY LEADERSHIP AND GOVERNANCE. IN TURN, THIS WILL ENABLE NONPROFITS AND PHILANTHROPISTS TO MAXIMIZE THEIR LEVEL OF IMPACT. | Description3Txt |
| Expenses3 | $1,972,375 | Expenses3Amt |
| Description4 | CRISIS PREVENTION: THE PHILLIPS FOUNDATION SEEKS TO LEVERAGE THE FOUNDATION'S EXISTING GRANT PARTNERSHIPS TO EVOLVE TOWARD UPSTREAM PREVENTION OF SOCIAL ISSUES BY ADDRESSING ROOT PROBLEMS OF FAMILY BREAKDOWN AND DYSFUNCTION THROUGH RESEARCH-BASED TOOLS FOR HEALTHY RELATIONSHIPS, SELF-SUFFICIENCY AND FAMILY WELLNESS. | Description4Txt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | ELSEWHERE INC OF GUILFORD COUNTY NC AS GUARANTEE PRI | Description1Txt |
| Expenses1 | -$22,221 | Expenses1Amt |
| Total | -$22,221 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $56,724,505 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $860,534 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $57,585,039 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $57,585,039 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $863,776 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $56,721,263 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $2,836,063 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $2,836,063 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $38,578 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $38,578 | TotalTaxAmt |
| Distributable Before Adj | $2,797,485 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $2,797,485 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $2,797,485 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $3,406,768 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $22,221 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $3,384,547 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $2,797,485 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $496,158 | UndistributedIncomePYAmt |
| Qualifying Distributions | $3,384,547 | QualifyingDistributionsAmt |
| Applied To Year1 | $496,158 | AppliedToYear1Amt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $2,797,485 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $90,904 | RemainingDistriFromCorpusAmt |
| Total Corpus | $90,904 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $90,904 | ExcessDistriCyovToNextYrAmt |
| Excess From Current Year | $90,904 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Shareholder Manager | KEITH PHILLIPS | ShareholderManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| DRK FOUNDATION | ||||||
| 1600 EL CAMINO REAL SUITE 155 | MENLO PARK | CA | 94025 | PC | OPERATIONS AND PROGRAM SUPPORT | $325,000 |
| SOUTHERN METHODIST UNIVERSITY | ||||||
| PO BOX 750402 | DALLAS | TX | 75275 | PC | IMPACT LAB INITIATIVE | $315,000 |
| LIFT OUR VOICES | ||||||
| 2101 4TH AVE STE 2100 | SEATTLE | WA | 98121 | PC | OPERATIONS AND PROGRAM SUPPORT | $200,000 |
| PANORAMA GLOBAL | ||||||
| 2101 4th Avenue Suite 2100 | Seattle | WA | 98121 | PC | OPERATIONS AND PROGRAM SUPPORT | $276,000 |
| COMMUNITY FOUNDATION OF GREATER GSO | ||||||
| 330 SOUTHE GREENE ST SUITE 100 | GREENSBORO | NC | 27401 | PC | OPERATIONS AND PROGRAM SUPPORT | $250,000 |
| THE IMPACT | ||||||
| 110 E 25TH ST | NEW YORK | NY | 10010 | PC | OPERATIONS AND PROGRAM SUPPORT | $51,000 |
| GODLY RESPONSE TO ABUSE | ||||||
| 4026 WARDS RD UNIT G1 198 | LYNCHBURG | VA | 24502 | PC | STRATEGIC PLANNING SUPPORT | $25,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $1,442,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $1,001,891 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $1,773,501 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp (2 entries)
| DescDesc | BusinessBusinessCd | Unrelated Business Taxbl IncmUnrelatedBusinessTaxblIncmAmt |
|---|---|---|
| K-1 Capital Gains | 525990 | -$32,583 |
| SCHEDULE K-1 ACTIVITY | 525990 | -$85,704 |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | -$118,287 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | $2,775,392 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $2,657,105 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Accounting Fees | CategoryTxt |
| Amt | $55,941 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $47,549 | DisbursementsCharitablePrpsAmt |
Contractor Compensation Expln ContractorCompensationExpln
Contractor Comp Expln ContractorCompExplnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contractor Person | KAITLIN KIRK | ContractorPersonNm |
Depreciation Schedule DepreciationSchedule
Depreciation Property DepreciationPropertyGrp (2 entries)
| PropertyPropertyDesc | AcquiredAcquiredDt | Cost Or Other BasisCostOrOtherBasisAmt | Prior Year DepreciationPriorYearDepreciationAmt | Computation MethodComputationMethodTxt | LifeLifeRt | Current Year ExpenseCurrentYearExpenseAmt |
|---|---|---|---|---|---|---|
| 2014 IMPROV | 2014-12-31 | $2,200 | $1,870 | SL | 10.0000 | $220 |
| COMPUTERS | 2018-04-11 | $4,475 | $4,251 | SL | 5.0000 | $224 |
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond | Corporate Fixed Income | BondNm |
| EOY Book Value | $1,330,038 | EOYBookValueAmt |
| EOYFMV | $1,240,857 | EOYFMVAmt |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Stock | Traded Stocks/Mutual Funds | StockNm |
| EOY Book Value | $38,769,066 | EOYBookValueAmt |
| EOYFMV | $47,157,175 | EOYFMVAmt |
Investments Govt Obligations Sch InvestmentsGovtObligationsSch
| Field | Value | IRS element (for citing) |
|---|---|---|
| US Govt Obligations Book Vl EOY | $1,976,741 | USGovtObligationsBookVlEOYAmt |
| US Govt Obligations EOYFMV | $1,920,683 | USGovtObligationsEOYFMVAmt |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (2 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| Mission Related Investments | AT COST | $3,414,205 | $3,414,205 |
| Alternative Investments | AT COST | $2,299,672 | $6,802,833 |
Land Etc Schedule2 LandEtcSchedule2
Land Etc LandEtcGrp (4 entries)
| Category Or ItemCategoryOrItemTxt | Cost Or Other BasisCostOrOtherBasisAmt | Accumulated DepreciationAccumulatedDepreciationAmt | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|---|
| Furniture and Fixtures | $22,330 | $22,330 | ||
| Machinery and Equipment | $16,182 | $16,182 | ||
| Improvements | $2,200 | $2,090 | $110 | $110 |
| Land | $487,083 | $487,083 | $487,083 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Legal Fees | CategoryTxt |
| Legal Fees | $1,347 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $1,347 | DisbursementsCharitablePrpsAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (12 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|
| BANK CHARGES | $6,120 | $6,120 |
| DONATIONS | $9,000 | $9,000 |
| FURNITURE & EQUIPMENT | $8,229 | $6,995 |
| INSURANCE | $5,970 | $5,075 |
| MEMBERSHIPS & SUBSCRIPTIONS | $86,145 | $86,145 |
| OFFICE SUPPLIES | $3,634 | $3,089 |
| POSTAGE & SHIPPING | $960 | $816 |
| REPAIRS & MAINTENANCE | $190 | $162 |
| SOFTWARE SUBSCRIPTIONS | $20,673 | $17,572 |
| SPONSORED EVENTS | $2,803 | $2,803 |
| STAFF GIFTS & EVENTS | $5,178 | $4,402 |
| UTILITIES | $2,312 | $1,966 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail (2 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt |
|---|---|
| K-1 Capital Gains | -$32,583 |
| SCHEDULE K-1 ACTIVITY | -$85,704 |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail (5 entries)
| DescDesc | BOY Book ValueBOYBookValueAmt | EOY Book ValueEOYBookValueAmt |
|---|---|---|
| CREDIT CARD PAYABLE | $7,627 | |
| PAYROLL LIABILITIES | $19,399 | |
| MRI'S PAYABLE | $2,986,904 | |
| PRI'S PAYABLE | $1,085,362 | |
| Rounding | $1 | $1 |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (6 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| Consulting & Outside Services | $83,990 | $0 | $0 | $83,990 |
| Content Design & Writing | $27,000 | $0 | $0 | $27,000 |
| Digital Media & Website | $817,487 | $0 | $0 | $817,487 |
| Financial Advisor | $18,750 | $0 | $0 | $0 |
| Financial Advisor | $256,210 | $0 | $0 | $0 |
| I.T. | $53,191 | $0 | $0 | $53,191 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Payroll Tax | CategoryTxt |
| Amt | $72,760 | Amt |
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