Stephen Phillips Memorial Scholarship Fund Inc
- Assets
- $45.8m
- Revenue
- $8.3m
- Investments
- $40.2m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 06/2011
- Data as of
- 12/2021
- EIN
- 27-5040651
Organization Overview
Stephen Phillips Memorial Scholarship Fund Inc is located in Boston, MA. The organization was established in 2011. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Stephen Phillips Memorial Scholarship Fund Inc 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 12/2021, Stephen Phillips Memorial Scholarship Fund Inc generated $8.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $7.3m during the year ending 12/2021. While expenses have increased by 8.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Stephen Phillips Memorial Scholarship Fund Inc has awarded 5,431 individual grants totaling $32,317,947. 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 |
|---|---|---|---|
Barbara W Iler Executive Director | 40 | $251,525 | |
Madeleine Jacobs VP Of Communications | 40 | $92,670 | |
Kathleen Gearan VP Of Scholarship Pr | 25 | $80,697 | |
Lawrence Coolidge Treasurer/director | 1 | $47,137 | |
John H Finley IV Clerk/director | 1 | $35,137 | |
Robert M Randolph President/director | 1 | $35,137 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lwc Fiduciary Advisors | 12/30/21 | $342,987 |
Edelstein & Company Llp | 12/30/21 | $55,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,123,286 |
| Interest on Savings | $23,622 |
| Dividends & Interest | $591,421 |
| Net Rental Income | $3,594 |
| Net Gain on Sale of Assets | $6,393,803 |
| Capital Gain Net Income | $5,229,812 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $172,974 |
| Total Revenue | $8,308,700 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $439,210 |
| Other employee salaries and wages | $176,505 |
| Pension plans, employee benefits | $122,325 |
| Interest | $0 |
| Taxes | $72,478 |
| Depreciation | $19,735 |
| Occupancy | $3,449 |
| Travel, conferences, and meetings | $1,574 |
| Printing and publications | $0 |
| Other expenses | $77,526 |
| Total operating and administrative expenses | $1,384,594 |
| Contributions, gifts, grants paid | $5,887,617 |
| Total expenses and disbursements | $7,272,211 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,531,189 |
| 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 | $1,582,541 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,727,371 |
| Net Land, buildings, and equipment | $427,636 |
| Other assets | $0 |
| Total assets | $45,790,109 |
| 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 | $19,616 |
| Total liabilities | $19,616 |
Grants Awarded
Over the last fiscal year, Stephen Phillips Memorial Scholarship Fund Inc has awarded $5,887,617 in support to 583 organizations.
| Grant Recipient | Amount |
|---|---|
AVEREY HOMER PURPOSE: SCHOLARSHIP | $43,500 |
CHRISTINA TANG PURPOSE: SCHOLARSHIP | $41,500 |
DESTINY ELLIS THAMES PURPOSE: SCHOLARSHIP | $39,000 |
HANNAH ORTIZ PURPOSE: SCHOLARSHIP | $35,000 |
TAYLOR MARRERO PURPOSE: SCHOLARSHIP | $33,500 |
BRENDA TA PURPOSE: SCHOLARSHIP | $33,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Stephen Phillips Memorial Scholarship Fund Inc has recieved totaling $5,100.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $5,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Echoing Green Inc New York, NY | $60,744,468 | $19,754,073 |
Partnership For Ed Advancement Inc New York, NY | $36,194,552 | $41,198,488 |
Alavi Foundation New York, NY | $64,468,510 | $30,201,673 |
Uncommon Lender Inc New York, NY | $174,239,408 | $12,168,791 |
Family Enrichment Network Inc Johnson City, NY | $8,020,609 | $12,621,621 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |
Vermont Student Development Fund Inc Winooski, VT | $17,468,961 | $10,359,436 |
The Teagle Foundation Incorporated New York, NY | $172,379,349 | $12,655,674 |
Jackie Robinson Foundation Inc New York, NY | $30,161,175 | $8,662,334 |