Kermit G Phillips Ii Charitable Tr Aka Phillips Foundation
Nonprofit profile at a glance
- EIN
- 046977585
- IRS 990-PF coverage
- 2016–2024
- Forms available
- Form 990-PF 2024, Form 990-T 2024
- Location
- Greensboro, NC, USA
- Phone
- 2142380467
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Fund Raising and Fund Distribution
Reported finances
- Revenue
- $5,142,964
- Expenses
- $3,351,361
Source: IRS Form 990-PF. Selected filing: tax year 2024. Amounts in USD.
Overview
Mission
Fund Raising and Fund Distribution
What it reported funding in 2024
The foundation reported 9 grants totaling $1,533,001. The stated grant purposes included impact lab initiative, operations and program support, and programs support, plus 3 other reported purposes.
Operating model
- Revenue model
- Investment-supported. 100% of the foundation's positive operating resources came from recurring investment income.
- Distribution model
- Hybrid. The foundation combined direct charitable work with grants to other organizations or people.
- Includes asset-sale income: Asset-sale income is shown separately from recurring resources when classifying the revenue model.
The verdict
STRONG - A large share of available resources goes to charitable grants and the filing identifies who received its grants. A relatively small share of spending goes to grants and some filed totals do not add up.
Rating breakdown
- Grant Deployment: 91
- Cost Efficiency: 46
- Transparency: 100
- Compliance: 95
- Endowment Health: 86
Detailed rating inputs
Grant Deployment
- Grant deployment ratio: 91.4%; rating input score 91; 34th percentile among comparable filings
Cost Efficiency
- Grant expense ratio: 45.7%; rating input score 46; 12th percentile among comparable filings
Transparency
- Grant recipient disclosure: Yes; rating input score 100
Compliance
- Part VII-B activity disclosures: 19 of 19 controls in place; rating input score 100
- Property sale or exchange with a disqualified person: Pass
- Borrowing from or lending to a disqualified person: Pass
- Goods, services, or facilities involving a disqualified person: Pass
- Compensation paid to a disqualified person: Pass
- Assets transferred to a disqualified person: Pass
- Payment to a government official: Pass
- Uncorrected prior self-dealing: Pass
- Prior-year undistributed income: Pass
- Excess business holdings: Pass
- Investments that may jeopardize charitable purposes: Pass
- Uncorrected prior-year jeopardizing investments: Pass
- Attempt to influence legislation: Pass
- Attempt to influence an election: Pass
- Grants to individuals: Pass
- Grants to organizations: Pass
- Spending for a noncharitable purpose: Pass
- Funds received for a personal-benefit contract: Pass
- Premiums paid on a personal-benefit contract: Pass
- Prohibited tax-shelter transaction: Pass
- Filing consistency checks: 9; rating input score 90
Endowment Health
- Endowment-health comparison: 32.53; rating input score 86; 86th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Grants: 100% of grant recipient detail disclosed
- Payout: 91.4% grant deployment rate
- Trustees: Filed trustees detail
- Self-dealing: 100% of reviewed questions answered “No”
- Investments: 86th percentile for endowment coverage
- Consistency: 9 of 10 current checks pass · 1 finding to review
- Filing history: 8 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: 15 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Cost Efficiency: Grant expense ratio scored 46/100.
- Moderate — Transparency & Controls: Qualifying distribution sum did not reconcile in the filed values.