Phillips Charitable Foundation Inc
- Assets
- $25.7m
- Revenue
- $969.4k
- Investments
- $22.2m
- Employees
- 0
- Location
- Annapolis, MD
- Founding
- 07/2016
- Data as of
- 12/2022
- EIN
- 81-2618658
Organization Overview
Phillips Charitable Foundation Inc is located in Annapolis, MD. The organization was established in 2016. 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 Charitable Foundation 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 12/2022, Phillips Charitable Foundation Inc generated $969.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 48.5% each year . All expenses for the organization totaled $1.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Phillips Charitable Foundation Inc has awarded 102 individual grants totaling $2,677,794. 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 |
|---|---|---|---|
Eileen M Gross President/treasurer | 40 | $146,300 | |
Jennifer C Good Vp/secretary | 40 | $114,950 | |
Alexandra D Crowley Trustee | 20 | $34,986 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,097,735 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$128,352 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $969,383 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $325,860 |
| Other employee salaries and wages | $114,950 |
| Pension plans, employee benefits | $12,356 |
| Interest | $0 |
| Taxes | $46,690 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,755 |
| Printing and publications | $0 |
| Other expenses | $14,064 |
| Total operating and administrative expenses | $677,166 |
| Contributions, gifts, grants paid | $1,164,357 |
| Total expenses and disbursements | $1,841,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,361 |
| Savings and temporary cash investments | $2,283,562 |
| 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 | $1,202,116 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,283,661 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,405 |
| Total assets | $25,670,328 |
| 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 Charitable Foundation Inc has awarded $1,164,357 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
WESTERN PENNSYLVANIA DIAPER BANK PURPOSE: SUPPLIES FOR DIAPER BANK | $2,000 |
BEST BUDDIES IN MARYLAND PURPOSE: ANNE ARUNDEL COUNTY SCHOOL FRIENDSHIP & LEADERSHIP DEVELOPMENT | $5,000 |
CHARLESTON AREA THERAPEUTIC RIDING PURPOSE: STUDENT SCHOLARSHIP PROGRAM | $5,320 |
FARMING 4 HUNGER INC PURPOSE: FARM EQUIPMENT | $8,050 |
HERO DOGS INC PURPOSE: CARE OF CASSIE VETERAN SUPPORT DOG | $8,500 |
JUBILEE ASSOCIATION OF MARYLAND PURPOSE: COUNCIL ON QUALITY AND LEADERSHIP TRAINING | $9,000 |