EIN 04-6977585

Phillips Foundation

IRS 501(c) type
501(c)(3)
Num. employees
0
Year formed
2002
Most recent tax filings
2022-12-01
NTEE code, primary
Description
The Phillips Foundation is a private foundation located in Greensboro, NC. It primarily funds various programs such as the Tipping Point, Say Yes to Education, and ongoing operations. Its purpose is to enhance the results of its grantmaking in education to grow education-re. The foundation has made seven grants last year and its grantees include The Community Foundation Of Greater Greensboro Inc and others. Additionally, it supports initiatives such as the Mabel Art Installation, Healthy Relationships Initiative, and COVID-19 response efforts.
Also known as...
Kermit G Phillips Ii Charitable Trust; Phillips Kermit Ttee
Total revenues
$2,043,327
2022
Total expenses
$3,409,362
2022
Total assets
$58,854,090
2022
Num. employees
0
2022

Program areas at Phillips Foundation

Public responsibility: the Phillips Foundation seeks to enhance the results of its grantmaking in education to grow education-related initiatives. Leveraging its body of work, the Foundation will develop programs, collaborations and technology designed to inspire learning and address impediments to children, youth and adults reaching their full potential as generous and impact driven individuals. Through exploration of partnerships with others in the field, coupled with original programs designed to educate children, youth and adults about generosity, stewardship, community needs and social responsibility, the Foundation will innovate, convene and collaborate to effect positive change.
Impact investing: the Phillips Foundation seeks to create a platform to amplify social and environmental value through financial investments, a practice known as impact investing. Through a series of events, gatherings and collaborations that bring together a variety of stakeholders, the Foundation will meet this mission-related goal through activities including but not limited to: providing educational programs, conducting research, publishing resources, convening partners, fostering collaboration, creating dealflow and exploring opportunities.
Social sector leadership: the Phillips Foundation seeks to strengthen the ability of nonprofits to accomplish their Charitable missions by empowering the nonprofit sector to employ exemplary governance and executive leadership practices. The Foundation will conduct research, engage with strategic partners and develop programs and resources designed to equip nonprofits, philanthropic institutions and their leaders to enact systemic change. With an emphasis on accountability and innovation, the Foundation will promote and advocate for exemplary leadership and governance. In turn, this will enable nonprofits and philanthropists to maximize their level of impact.
Real property rented to public charity at a nominal amount

Grants made by Phillips Foundation

GranteeGrant descriptionAmount
Shift EducationOperations and Program Support$500,000
Panorama GlobalOperations and Program Support$276,000
New Venture FundThe Tipping Point$250,000

Personnel at Phillips Foundation

NameTitleCompensation
Bert DavisChief Investment Officer
Catherine BurnettAdvisor , Impact Investing$123,743
Kermit G. PhillipsExecutive Director of the Kermit G Phillips Ii
Elizabeth Carlock PhillipsExecutive Director
Erica Hall ShieldsManaging Director$171,197
...and 5 more key personnel

Financials for Phillips Foundation

RevenuesFYE 12/2022
Total grants, contributions, etc.$0
Investment income and dividends$875,706
Net rental income$0
Net gain from sale of non-inventory assets$1,256,388
Gross sales of inventory$0
Miscellaneous revenues$-88,767
Total revenues$2,043,327

Form 990s for Phillips Foundation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-14990PFView PDF
2021-122022-11-15990PFView PDF
2020-122021-11-09990PFView PDF
2019-122021-06-14990PFView PDF
2018-122019-12-30990PFView PDF
...and 7 more Form 990s
Data update history
January 21, 2024
Posted financials
Added Form 990PF for fiscal year 2022
January 1, 2024
Used new vendors
Identified 2 new vendors, including , and
December 12, 2023
Updated personnel
Identified 4 new personnel
November 25, 2023
Posted financials
Added Form 990PF for fiscal year 2021
August 9, 2022
Posted financials
Added Form 990PF for fiscal year 2020
Nonprofit Types
Grantmaking organizationsPrivate foundationsPrivate non-operating foundationsCharities
Issues
No issues found
Characteristics
Provides grantsPartially liquidatedState / local levelTax deductible donations
General information
Address
PO Box 39461
Greensboro, NC 27438
Metro area
Greensboro-High Point, NC
County
Guilford County, NC
Website URL
phillipsfdtn.org/ 
Phone
(214) 238-0467
IRS details
EIN
04-6977585
Fiscal year end
December
Taxreturn type
Form 990-PF
Year formed
2002
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
T20: Private Foundations
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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