Philo Finance Corporation

Organization Overview

Philo Finance Corporation is located in Houston, TX. The organization was established in 2007. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 12/2019, Philo Finance Corporation generated $1.7m 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 (34.5%) each year. All expenses for the organization totaled $6.4m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

PHILO FINANCE CORP. PROVIDES FINANCIAL SOLUTIONS TO PUBLIC CHARTER SCHOOLS; ASSISTS PUBLIC CHARTER SCHOOLS IN OBTAINING FINANCING, INCLUDING PROVIDING BELOW-MARKET LOANS; AND PERFORMS SUCH OTHER FUNCTIONS AS MAY BE NECESSARY TO FULFILL THE PURPOSES OF THE CORPORATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PHILO FINANCE CORPORATION SEEKS TO FIND HIGH PERFORMING CHARTER SCHOOLS THAT REQUIRE INTERIM CAPITAL BORROWINGS. KIPP HOUSTON HAS BORROWED FUNDS FROM PHILO FINANCE CORPORATION TO ENSURE THE GROWTH OF ITS SUCCESSFUL PRE-K THROUGH 12 EDUCATIONAL PROGRAM.


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Board, Officers & Key Employees

Name (title)Compensation
John C Murphy
Treas / CFO
$37,000
Debbie Hurwitz
Vice Chair
$0
Peter T Shaper
Chairman
$0
Ernie Cockrell
President
$0
Jayshree Desai
Director
$0
David Magdol
Director
$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$282,827
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$282,827
Total Program Service Revenue$0
Investment income $1,385,454
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $76,774
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,745,055

Grants Awarded

Over the last fiscal year, Philo Finance Corporation has awarded $6,010,000 in support to 2 organizations.

Grant RecipientAmount

Houston, TX

PURPOSE: Construction, program, salaries

$6,000,000

THE AWTY INTERNATIONAL SCHOOL

Org PageRecipient Profile

Houston, TX

PURPOSE: General support

$10,000
View Grant Profile

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