Waite And Genevieve Phillips Foundation
- Assets
- $8.6m
- Revenue
- $476.1k
- Investments
- $7.3m
- Employees
- 0
- Location
- Amarillo, TX
- Founding
- 09/1985
- Data as of
- 05/2024
- EIN
- 85-0335071
Organization Overview
Waite And Genevieve Phillips Foundation is located in Amarillo, TX. The organization was established in 1985. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Waite And Genevieve Phillips 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 05/2024, Waite And Genevieve Phillips Foundation generated $476.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $633.5k during the year ending 05/2024. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Phillips Puckett Chairman-President | 20 | $78,000 | |
Connie J Wootton Sr Vice-Pres/sec-Treas | 3 | $20,000 | |
Douglas Clay Holcomb Vice-President | 3 | $20,000 | |
Lela Phillips Puckett Director | 3 | $20,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $23,367 |
| Dividends & Interest | $270,021 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $182,688 |
| Capital Gain Net Income | $182,688 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $476,076 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $138,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $27,342 |
| Depreciation | $1,313 |
| Occupancy | $13,694 |
| Travel, conferences, and meetings | $9,374 |
| Printing and publications | $0 |
| Other expenses | $73,841 |
| Total operating and administrative expenses | $275,138 |
| Contributions, gifts, grants paid | $358,315 |
| Total expenses and disbursements | $633,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,244 |
| Savings and temporary cash investments | $1,062,055 |
| 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 | $2,623 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,475,018 |
| Net Land, buildings, and equipment | $59,407 |
| Other assets | $3,111 |
| Total assets | $8,584,569 |
| Accounts payable and accrued expenses | $33 |
| 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 | $1,760 |
| Total liabilities | $1,793 |