Phillips Family Foundation
Phillips Family Foundation's assets declining as expenses consistently outpace revenue in recent years.
EIN: 202760817 · Penobscot, ME · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $337K |
| Total Expenses | $104K |
| Program Spending | 85% |
| Net Assets | $1.1M |
| Transparency Score | 75/100 |
Search Intent Cockpit
Phillips Family Foundation Form 990, Revenue, CEO Pay, and IRS Filing Signals
Phillips Family Foundation is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Phillips Family Foundation in one place.
Form 990 Filing Summary
10 filing years are available, with latest revenue of $12K and expenses of $104K.
Revenue and Expenses
Phillips Family Foundation reported $12K in revenue and $104K in expenses, a deficit of $91K.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
75/100 mission score, 2 red flags, and 4 strengths are shown from structured and AI review.
Is Phillips Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $88K (85%) |
Across stored filings, Phillips Family Foundation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 2 red flags identified |
| Mission spend | 85% to programs | Excellent |
| Financial durability | Grade B | 10 stored filing years |
| Peer context | Compare with Maine Composite Materials Applied Technology Development Center | Maine and Philanthropy context |
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Donation Decision Flow
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Phillips Family Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Phillips Family Foundation
Phillips Family Foundation (EIN: 202760817) is a nonprofit organization based in Penobscot, ME, classified under NTEE code T22. The organization reported total revenue of $337K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Phillips Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Phillips Family Foundation is a small nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -18.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $12K |
| Total Expenses | $104K |
| Surplus / Deficit | $-91,498 |
| Total Assets | $1.1M |
| Total Liabilities | $1 |
| Net Assets | $1.1M |
| Operating Margin | -745.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 130.9 months |
Financial Health Grade: B
In 2023, Phillips Family Foundation reported a deficit of $91K with expenses exceeding revenue, holds 130.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Phillips Family Foundation's revenue has declined at a compound annual growth rate (CAGR) of -18.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -76.7% | -40.9% | -7.5% |
| 2022 | +24.2% | +100.9% | -9.1% |
| 2021 | -73.7% | +13.8% | -3.2% |
| 2020 | +91.7% | -9.9% | +6.5% |
| 2019 | +91.3% | +64.9% | +106.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Phillips Family Foundation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 85%
- fundraising: 0%
According to IRS 990 filings, Phillips Family Foundation allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $91K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that officers are either unpaid or compensated through non-officer channels, which is a positive for minimizing administrative costs relative to the organization's size and mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Phillips Family Foundation's IRS 990 filings:
- Consistent expenses exceeding revenue in recent years, leading to asset depletion.
- Lack of detailed expense breakdown (program vs. admin) in provided data makes full efficiency assessment difficult.
Strengths
The following positive indicators were identified for Phillips Family Foundation:
- Consistent 0% officer compensation, indicating low administrative overhead.
- Strong transparency with consistent IRS 990 filings.
- Very low liabilities ($0-$1) across all reported periods, indicating sound financial management.
- Substantial asset base of over $1 million, providing significant capacity for grantmaking.
Frequently Asked Questions about Phillips Family Foundation
Is Phillips Family Foundation a legitimate charity?
Phillips Family Foundation (EIN: 202760817) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $337K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Phillips Family Foundation spend its money?
Phillips Family Foundation directs 85% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Phillips Family Foundation tax-deductible?
Phillips Family Foundation is registered as a tax-exempt nonprofit (EIN: 202760817). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Phillips Family Foundation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Phillips Family Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Phillips Family Foundation located?
Phillips Family Foundation is headquartered in Penobscot, Maine and files with the IRS under EIN 202760817. It is classified under NTEE code T22.
How many years of IRS 990 filings does Phillips Family Foundation have?
Phillips Family Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $337K in total revenue.
Why have expenses significantly exceeded revenue in the last three years?
From 2021 to 2023, the foundation's total expenses were $366,730, while total revenue was $107,313. This suggests a strategic decision to disburse funds from its asset base, potentially for significant grantmaking initiatives, rather than relying solely on annual income.
What is the nature of the foundation's grantmaking or program activities?
The NTEE code T22 indicates 'Private Grantmaking Foundations.' Without further detail on specific grants or programs, it's understood that the foundation primarily provides financial support to other organizations or individuals, rather than operating direct programs.
Is the decline in assets a concern for the foundation's long-term viability?
Assets have decreased from $1,391,629 in 2020 to $1,132,212 in 2023. While a decline, it's common for private foundations to disburse principal. The current asset base of over $1 million still provides a substantial endowment, but continued significant spending above revenue would eventually deplete it.
Filing History
IRS 990 filing history for Phillips Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Phillips Family Foundation's revenue has declined by 91%, moving from $136K to $12K. Total assets increased by 159.7% over the same period, from $436K to $1.1M. Total functional expenses rose by 49.8%, from $69K to $104K. In its most recent filing year (2023), Phillips Family Foundation reported a deficit of $91K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $12K | $104K | $1.1M | $1 | — | View 990 |
| 2022 | $53K | $176K | $1.2M | $1 | — | View 990 |
| 2021 | $42K | $87K | $1.3M | $1 | — | View 990 |
| 2020 | $161K | $77K | $1.4M | $1 | — | View 990 |
| 2019 | $84K | $85K | $1.3M | $0 | — | View 990 |
| 2015 | $44K | $52K | $633K | $0 | — | View 990 |
| 2014 | $147K | $59K | $641K | $1 | — | View 990 |
| 2013 | $139K | $57K | $553K | $1 | — | View 990 |
| 2012 | $95K | $60K | $470K | $1 | — | View 990 |
| 2011 | $136K | $69K | $436K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12K, expenses of $104K, and assets of $1.1M (revenue -76.7% year-over-year).
- 2022: Revenue of $53K, expenses of $176K, and assets of $1.2M (revenue +24.2% year-over-year).
- 2021: Revenue of $42K, expenses of $87K, and assets of $1.3M (revenue -73.7% year-over-year).
- 2020: Revenue of $161K, expenses of $77K, and assets of $1.4M (revenue +91.7% year-over-year).
- 2019: Revenue of $84K, expenses of $85K, and assets of $1.3M (revenue +91.3% year-over-year).
- 2015: Revenue of $44K, expenses of $52K, and assets of $633K (revenue -70.1% year-over-year).
- 2014: Revenue of $147K, expenses of $59K, and assets of $641K (revenue +5.8% year-over-year).
- 2013: Revenue of $139K, expenses of $57K, and assets of $553K (revenue +47.2% year-over-year).
- 2012: Revenue of $95K, expenses of $60K, and assets of $470K (revenue -30.5% year-over-year).
- 2011: Revenue of $136K, expenses of $69K, and assets of $436K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Phillips Family Foundation:
Data Sources and Methodology
This transparency report for Phillips Family Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.