BETA

PHILLIPS FAMILY FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
PHILLIPS FAMILY FOUNDATION (EIN 30-0220787)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-05-12
IRS object ID
202541329349102704
Schema version
2024v5.1
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 ReturnHeader

FieldValueIRS element (for citing)
Return2025-05-12T13:21:19-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ERNST & YOUNG US LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1One Manhattan WestAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10001ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN300220787EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Phillips Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% GOLDMAN SACHS AYCOInCareOfNm
Business Name ControlPHILBusinessNameControlTxt
Phone5186405000PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1C/O Goldman Sachs Ayco PO BOX 15201AddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP122125201ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCharles PhillipsPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone5186405000PhoneNum
Signature2025-05-12SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonChristine W DiIonnaPreparerPersonNm
PTINP00999533PTIN
Phone2127733000PhoneNum
Preparation2025-05-12PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$3,228,054FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$1,095InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1,095InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$101,088DividendsRevAndExpnssAmt
Dividends Net Invst Incm$101,088DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$107,361NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$601,043GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$107,361CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$209,544TotalRevAndExpnssAmt
Total Net Invst Incm$209,544TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Prof Fees Rev And Expnss$18,881OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$18,881OtherProfFeesNetInvstIncmAmt
Interest Rev And Expnss$12InterestRevAndExpnssAmt
Interest Net Invst Incm$12InterestNetInvstIncmAmt
Taxes Rev And Expnss$8,303TaxesRevAndExpnssAmt
Taxes Net Invst Incm$2,303TaxesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$27,196TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$21,196TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$140,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$140,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$167,196TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$21,196TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$140,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$42,348ExcessRevenueOverExpensesAmt
Net Investment Income$188,348NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$108,809SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$98,522SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$98,522SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$1,081,827CorporateStockBOYAmt
Corporate Stock EOY$1,163,653CorporateStockEOYAmt
Corporate Stock EOYFMV$1,584,395CorporateStockEOYFMVAmt
Other Investments BOY$1,047,339OtherInvestmentsBOYAmt
Other Investments EOY$1,018,148OtherInvestmentsEOYAmt
Other Investments EOYFMV$1,545,137OtherInvestmentsEOYFMVAmt
Total Assets BOY$2,237,975TotalAssetsBOYAmt
Total Assets EOY$2,280,323TotalAssetsEOYAmt
Total Assets EOYFMV$3,228,054TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$2,237,975CapitalStockBOYAmt
Capital Stock EOY$2,280,323CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$2,237,975TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,280,323TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,237,975TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,280,323TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,237,975TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$42,348ExcessRevenueOverExpensesAmt
Subtotal$2,280,323SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,280,323TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (2 entries)

PropertyPropertyDescGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
JPM 7005 PUBLICLY TRADED SECURITIES$285,293$278,952$6,341$6,341
CS 6642 PUBLICLY TRADED SECURITIES$312,493$214,730$97,763$97,763
FieldValueIRS element (for citing)
Capital Gain Net Income$107,361CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$2,618InvestmentIncomeExciseTaxAmt
Subtotal$2,618SubtotalAmt
Tax Based On Investment Income$2,618TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$4,238EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$2,000ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$6,238TotalPaymentsAndCreditsAmt
Overpayment$3,620OverpaymentAmt
Applied To ES Tax$3,620AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateCTOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1GOLDMAN SACHS AYCOBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone5186405000PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1100 COLISEUM DRIVEAddressLine1Txt
CityCOHOESCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12047ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
CHARLES A PHILLIPS
C/O Goldman Sachs Ayco PO BOX 15201ALBANYNY122125201TRUSTEE1.0$0$0$0
JAN V M PHILLIPS
C/O Goldman Sachs Ayco PO BOX 15201ALBANYNY122125201TRUSTEE1.0$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1NONEDescription1Txt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1NONEDescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$3,095,932AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$106,696AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$3,202,628TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$3,202,628AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$48,039CashDeemedCharitableAmt
Net Vl Noncharitable Assets$3,154,589NetVlNoncharitableAssetsAmt
Minimum Investment Return$157,729MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$157,729MinimumInvestmentReturnAmt
Tax Based On Investment Income$2,618TaxBasedOnInvestmentIncomeAmt
Total Tax$2,618TotalTaxAmt
Distributable Before Adj$155,111DistributableBeforeAdjAmt
Distributable Before Ded$155,111DistributableBeforeDedAmt
Distributable As Adjusted$155,111DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$140,000ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$140,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$155,111DistributableAsAdjustedAmt
Undistributed Income PY$125,578UndistributedIncomePYAmt
Prior Year12022PriorYear1Yr
Prior Year22021PriorYear2Yr
Prior Year32020PriorYear3Yr
Excess Distribution Cyov Yr1$0ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$140,000QualifyingDistributionsAmt
Applied To Year1$125,578AppliedToYear1Amt
Applied To Current Year$14,422AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$0TotalCorpusAmt
Undistributed Income CY$140,689UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerCHARLES A JAN V M PHILLIPSContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (9 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
The Fistula Foundation
1700 THE ALAMEDA STE 300SAN JOSECA95126NONEPCGENERAL CHARITABLE PURPOSES$15,000
Community Food Cupboard Inc
PO BOX 864MANCHESTER CTRVT05255nonePCGENERAL CHARITABLE PURPOSES$15,000
Cafe of Life Inc
PO BOX 367794BONITA SPRINGSFL34136NONEPCGENERAL CHARITABLE PURPOSES$15,000
Meals on Wheels
124 PLEASANT STBenningtonVT05201NONEPCGENERAL CHARITABLE PURPOSES$15,000
The Lyme Treatment Foundation
102 NE 2ND STBoca RatonFL334323908NONEPCGENERAL CHARITABLE PURPOSES$20,000
Kids Summer Lunch Program
5289 OAKBROOK DRPlainfieldIN461687414NONEPCGENERAL CHARITABLE PURPOSES$20,000
Grace Place for Children and Families
4300 21st Avenue SWNaplesFL34116NONEPCGENERAL CHARITABLE PURPOSES$20,000
Mother's Club of Haiti
PO Box 996FrederickMD217050996nonePCGENERAL CHARITABLE PURPOSES$10,000
United Counseling Services
5312 Main StreetMANCHESTER CTRVT05255nonePCGENERAL CHARITABLE PURPOSES$10,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$140,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$1,095ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$101,088ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$107,361ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$209,544ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$209,544TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch

All Other Program Related Invst AllOtherProgramRelatedInvstGrp

FieldValueIRS element (for citing)
DescNONEDesc

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockCS 6442 - SEE ATTACHED LISTStockNm
EOY Book Value$1,163,653EOYBookValueAmt
EOYFMV$1,584,395EOYFMVAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (2 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
JPM 7005 - SEE ATTACHED LISTAT COST$946,167$1,477,414
CS 6642 - SEE ATTACHED LISTAT COST$71,981$67,723

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescOther IncomeDesc

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryINVESTMENT MANAGEMENT FEESCategoryTxt
Amt$18,881Amt
Net Investment Income$18,881NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmt
EXCISE TAXES PAID$6,000
FOREIGN TAXES PAID$2,303$2,303

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