Phillips Family Foundation in Charlotte, North Carolina (NC)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Organizations performing similar types of work
| Phillips Family Foundation | |
| Employer Identification Number (EIN) | 232903879 |
| Name of Organization | Phillips Family Foundation |
| In Care of Name | Foundation Officers |
| Address | 2200 Edenton Rd, Charlotte, NC 28211-3854 |
| Activities | Gifts or grants to individuals (other than scholarships) |
| Subsection | Charitable Organization |
| Ruling Date | 03/1998 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2011 |
| Assets | $1 to $9,999 |
| Income | $1 to $9,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $6,148 |
| Amount of Income | $4,773 |
| Form 990 Revenue Amount | $4,215 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations |
Non-representatives - add comments:
Amount of income in 2011: $4,773 (it was $617 in 2010)
| Phillips Family Foundation: | $4,773 |
| Other organizations performing similar types of work: | $120,160 |
Assets in 2011: $6,148 (it was $5,050 in 2010)
| Phillips Family Foundation: | $6,148 |
| Other organizations performing similar types of work: | $450,518 |
Expenses in 2011: $3,117
| This organization: | $3,117 |
| Other organizations performing similar types of work: | $61,287 |
Income to expenses ratio in 2011: 1.5
| Phillips Family Foundation: | 1.5 |
| Other organizations performing similar types of work: | 7.3 |
Grants share in income in 2011: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 8.9% |
Revenue for 2011
Expenses for 2011
Assets for 2011
| Analysis of Revenue and Expenses (for 2011) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $4,215 | $4,215 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $697 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $3,518 | |||
| Total expenses and disbursements | $3,117 | $1,887 | $0 | $330 |
| Compensation of officers, directors, trustees, etc. | $900 | |||
| Total operating and administrative expenses | $2,787 | $1,887 | $0 | |
| Contributions, gifts, grants paid | $330 | |||
| Excess of revenue over expenses and disbursements | $1,098 | |||
| Net investment income | $2,328 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2011) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $6,148 | $23,053 |
| Cash - non-interest-bearing | $2,090 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $3,018 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $1,040 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $6,148 | |
| Capital Gains and Losses for Tax on Investment Income (for 2011) | |
| Capital gain net income | $3,518 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2011) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $47 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $47 |
| Amount to be credited to 2012 estimated tax | $0 |
| Statements Regarding Activities (for 2011) | |
| During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign? | No |
| Was there a liquidation, termination, dissolution, or substantial contraction during the year? | No |
| Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2011) | |
| During the year did the foundation (either directly or indirectly): | |
| Engage in the sale or exchange, or leasing of property with a disqualified person? | No |
| Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? | No |
| Furnish goods, services, or facilities to (or accept them from) a disqualified person? | No |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | Yes |
| Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? | No |
| Agree to pay money or property to a government official? | No |
| At the end of tax year 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011? | No |
| Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? | No |
| Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? | No |
| During the year did the foundation pay or incur any amount to: | |
| Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? | No |
| Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? | No |
| Provide a grant to an individual for travel, study, or other similar purposes? | No |
| Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)? | No |
| Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? | No |
| Minimum Investment Return (for 2011) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $21,861 |
| Net value of noncharitable-use assets | $21,540 |
| Minimum investment return | $1,077 |
| Distributable Amount (for 2011) | |
| Distributable amount | $1,030 |
| Undistributed Income (for 2011) | |
| Distributable amount for 2011 | $1,030 |
| Undistributed income for 2011. This amount must be distributed in 2012 | $1,026 |
| Private Operating Foundations (for 2011) | |||||
| 2011 | 2010 | 2009 | 2008 | Total | |
|---|---|---|---|---|---|
| The lesser of the adjusted net income or the minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Qualifying distributions made directly for active conduct of exempt activities | $0 | $0 | $0 | $0 | $0 |
| Value of all assets | $0 | $0 | $0 | $0 | $0 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) | $0 | $0 | $0 | $0 | $0 |
| Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii) | $0 | $0 | $0 | $0 | $0 |
| Gross investment income | $0 | $0 | $0 | $0 | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Seby B Jones Family Foundation Inc | PO BOX 19067, Raleigh, NC 27619-9067 | NC | 1997-12 | $11,185,886 |
| 2 | Roy H & Natalie C Roberts Fam Foundation, Roberts John H & Anne W Ttee | PO BOX 38424, Greensboro, NC 27438-8424 | NC | 1998-07 | $8,037,869 |
| 3 | Sarah H Sutherland Charitable Tr Uw | PO BOX 2907, Wilson, NC 27894-2907 | NC | 1995-06 | $6,914,005 |
| 4 | William B Mcguire Jr Family Foundation | 309 E Morehead Street, Charlotte, NC 28202-2301 | NC | 1996-10 | $1,562,038 |
| 5 | Ruby J Craddock Memorial Trust | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 1995-12 | $1,026,548 |
| 6 | Winston Family Foundation Inc | 3739 National Dr Ste 140, Raleigh, NC 27612-4063 | NC | 1998-01 | $1,007,329 |
| 7 | Stephenson Pope Babcock Foundation | 2210 Brookfield Dr, Winston Salem, NC 27106-5815 | NC | 1997-03 | $576,637 |
| 8 | Thomas B And Robertha K Coleman Foundation Inc | PO BOX 1169, New Bern, NC 28563-1169 | NC | 1998-07 | $458,535 |
| 9 | Winchester Foundation | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 1998-11 | $374,346 |
| 10 | William L West Trust | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 1995-07 | $293,503 |
| 11 | The Edith L Mudd Charitable Trust | PO BOX 2907, Wilson, NC 27894-2907 | NC | 1994-12 | $197,386 |
| 12 | Strickland Family Foundation | PO BOX 2273, Fayetteville, NC 28302-2273 | NC | 1997-03 | $108,187 |
| 13 | Wendell P Hampson Trust Capital Management Group | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 1998-04 | $93,492 |
| 14 | Steward Foundation | 3620 Cape Center Dr, Fayetteville, NC 28304-4405 | NC | 1997-03 | $79,848 |
| 15 | The Marilyn And Harry Swimmer Family Foundation | 455 Providence Rd S, Waxhaw, NC 28173-8311 | NC | 1997-07 | $66,468 |
| 16 | Sadie And Hobert Fouts Scholarship Fund | PO BOX 2278, High Point, NC 27261-2278 | NC | 1997-11 | $62,203 |
| 17 | Tom Barnhardt Family Foundation | 2343 Roswell Ave Apt 2c, Charlotte, NC 28207-2762 | NC | 1998-04 | $36,979 |
| 18 | Vera Holland Memorial Community Fun D, Maddrey J G & W E Crews Ttee | PO BOX 507, Eden, NC 27289-0507 | NC | 1996-03 | $32,589 |
| 19 | Samuel Ernest Douglass Jr Foundation | PO BOX 10480, Wilmington, NC 28404-0480 | NC | 1998-11 | $20,604 |
| 20 | Walker Fry Rucker Family Fund | 3570 Wildflower Dr Unit B, Greensboro, NC 27410-8823 | NC | 1996-05 | $17,169 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 5,225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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