Phillips Family Foundation
- Assets
- $1.1m
- Revenue
- $12.3k
- Investments
- $1.1m
- Employees
- 0
- Location
- Penobscot, ME
- Founding
- 07/2005
- Data as of
- 12/2023
- EIN
- 20-2760817
Organization Overview
Phillips Family Foundation is located in Penobscot, ME. The organization was established in 2005. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Phillips Family Foundation 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 12/2023, Phillips Family Foundation generated $12.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (32.0%) each year. All expenses for the organization totaled $103.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Phillips Family Foundation has awarded 34 individual grants totaling $304,998. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Julia Johnson Phillips Trustee | 0.5 | $3,500 | |
Paul Christopher Phillips Trustee | 0.5 | $3,500 | |
Richard S Hudgins Advisor | 0.25 | $0 | |
Watson Lyman Phillips Advisor | 0.25 | $0 | |
Alida Vernon Phillips Advisor | 0.25 | $0 | |
John Wg Phillips Advisor | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $547 |
| Dividends & Interest | $38,373 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$26,651 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $12,269 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $7,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $268 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $68 |
| Total operating and administrative expenses | $33,767 |
| Contributions, gifts, grants paid | $70,000 |
| Total expenses and disbursements | $103,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,753 |
| 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 | $99,045 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,076 |
| Total assets | $1,132,212 |
| 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, Phillips Family Foundation has awarded $70,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
THE BIBLE SOCIETY OF MAINE PURPOSE: OPERATING FUNDS PRISON OUTREACH & AFTER SCHOOL/HOMEWORK SUPPORT | $10,000 |
GALAPAGOS CONSERVANCY INC PURPOSE: TORTOISE SUPPORT/CONSERVATION EFFORTS | $14,000 |
ST MICHAEL INDIAN SCHOOL PURPOSE: TECHNOLOGY-INTERACTIVE TOUCH TABLE PROJECT K-5 GRADES CONTRIBUTION | $14,000 |
OUR FAMILY SERVICES INC PURPOSE: OPERATING FUNDS SERVICES TO PREVENT AND END HOMELESSNESS | $8,000 |
RIM COUNTRY LITERACY PROGRAM INC PURPOSE: OPERATING FUNDS RIM KIDS PROJECT LITERACY AND CLOTHING FOR LOW INCOME FAMILIES | $10,000 |
TUCSON BOTANICAL GARDENS PURPOSE: IMPROVING PATHWAYS FOR HANDICAP ACCESS/HORTICULTURAL THERAPY GREENHOUSE UPKEEP GRANT | $14,000 |