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Also known as: FOUNDATION OF MINNESOTA
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Jay And Rose Phillips Family Foundation Of Minnesota is a private corporation based in MINNEAPOLIS, MN. The foundation received its IRS ruling in 2011. The principal officer is Patrick Troska. It holds total assets of $62.3M. Annual income is reported at $8.6M. The foundation is governed by 5 officers and trustees. The foundation formed the 927 building, llc to renovate a commercial building located at 927 west broadway in north minneapolis (the "llc"). Following are the goals for the llc the llc that guide the llc's project development:a. Achieving community and economic development that lead to local ownership.b. Purposefully investing in the north minneapolis community through a catlytic redevelopment of an existing but neglected property.c. Providing employment, resources and creative and community space for the people that live in the north minneapolis community.d. Bringing new retail to the north minneapolis community.the llc is a functionally related business as defined in section 4942 of the internal revenue code for the foundation because the project directly furthers the foundation's mission. Because it is a functionally related business, the foundation's ownership in the llc is not an excess business holding within the meaning of section 4943 of the internal revenue code. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2020 to 2023. The foundation primarily funds organizations in Minnesota and California. According to available records, Jay And Rose Phillips Family Foundation Of Minnesota has made 221 grants totaling $9.6M, with a median grant of $10K. Annual giving has grown from $3.5M in 2020 to $6.2M in 2022. Individual grants have ranged from N/A to $3.5M, with an average award of $44K. The foundation has supported 98 unique organizations. The foundation primarily supports organizations in Minnesota, California, New York, which account for 86% of all grants. Grantmaking reaches organizations across 10 states. Contributions to this foundation are tax-deductible.
Smallest Grant
$500
Median Grant
$10K
Average Grant
$26K
Largest Grant
$250K
Based on 119 grants from the most recent 990-PF filing.
The foundation formed the 927 building, llc to renovate a commercial building located at 927 west broadway in north minneapolis (the "llc"). Following are the goals for the llc the llc that guide the llc's project development:a. Achieving community and economic development that lead to local ownership.b. Purposefully investing in the north minneapolis community through a catlytic redevelopment of an existing but neglected property.c. Providing employment, resources and creative and community space for the people that live in the north minneapolis community.d. Bringing new retail to the north minneapolis community.the llc is a functionally related business as defined in section 4942 of the internal revenue code for the foundation because the project directly furthers the foundation's mission. Because it is a functionally related business, the foundation's ownership in the llc is not an excess business holding within the meaning of section 4943 of the internal revenue code.
Expenses: $163K
The foundation formed the 927 building, llc to renovate a commercial building located at 927 west broadway in north minneapolis (the "llc"). Following are the goals for the llc the llc that guide the llc's project development:a. Achieving community and economic development that lead to local ownership.b. Purposefully investing in the north minneapolis community through a catlytic redevelopment of an existing but neglected property.c. Providing employment, resources and creative and community space for the people that live in the north minneapolis community.d. Bringing new retail to the north minneapolis community.the llc is a functionally related business as defined in section 4942 of the internal revenue code for the foundation because the project directly furthers the foundation's mission. Because it is a functionally related business, the foundation's ownership in the llc is not an excess business holding within the meaning of section 4943 of the internal revenue code. Based on available records, the foundation has funded 221 grants. Its grantmaking reaches organizations primarily in MN, CA, NY.
Jay And Rose Phillips Family Foundation Of Minnesota has distributed a total of $9.6M across 221 grants. The median grant size is $10K, with an average of $44K. Individual grants have ranged from N/A to $3.5M.
Jay And Rose Phillips Family Foundation Of Minnesota typically selects its grantees rather than accepting unsolicited proposals.
Jay And Rose Phillips Family Foundation Of Minnesota is headquartered in MINNEAPOLIS, MN. While based in MN, the foundation distributes grants to organizations across 10 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Rt Rybak | PRESIDENT | $0 | $0 | N/A |
| Tyler Phillips | TREASURER | $0 | $0 | N/A |
| Dean Phillips | CO-CHAIR | $0 | $0 | N/A |
| Jeanne Phillips | CO-CHAIR | $0 | $0 | N/A |
| Hutton Phillips | BOARD MEMBER | $0 | $0 | N/A |
Total Giving
$4.6M
Total Assets
$62.6M
Fair Market Value
$66.7M
Net Worth
$59.8M
Grants Paid
$2.6M
Contributions
N/A
Net Investment Income
$2.4M
Distribution Amount
$2.7M
Total: $37.3M
Total Grants
221
Total Giving
$9.6M
Average Grant
$44K
Median Grant
$10K
Unique Recipients
98
Most Common Grant
$10K
of 2022 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| The Minneapolis FoundationMAIN STREET ECONOMIC REVITALIZATION PROGRAM | Minneapolis, MN | $250K | 2022 |
| Minnesota Private College FundEDDIE PHILLIPS SCHOLARSHIP | St Paul, MN | $230K | 2022 |
| Achieve Twin CitiesFISCAL MANAGEMENT OF GENIUS & JOY SUMMER LEARNING PROJECTS | Minneapolis, MN | $203K | 2022 |
| City Of Lakes Community Land TrustCOMMERCIAL LAND TRUST RENEWAL | Minneapolis, MN | $150K | 2022 |
| Olson Middle SchoolMY STORY MY BRILLIANCE | Minneapolis, MN | $111K | 2022 |
| Patrick Henry High SchoolBE BOLD | South Minneapolis, MN | $104K | 2022 |
| Nexus Community PartnersGENERAL OPERATING SUPPORT | St Paul, MN | $100K | 2022 |
| Local Initiatives Support CorporationEMERGING BIPOC DEVELOPERS OF COLOR CAPACITY BUILDING | New York, NY | $100K | 2022 |
| Northside Economic Opportunity NetworkGENERAL OPERATING SUPPORT | Minneapolis, MN | $100K | 2022 |
| Minneapolis Jewish Federation2022 COMMUNITY CAMPAIGN | South Minneapolis, MN | $100K | 2022 |
| Women In Non Traditional Employment RolesGENERAL OPERATING SUPPORT | Los Angeles, CA | $60K | 2022 |
| South Bay Center For CounselingCONTINUED SUPPORT FOR THE ENERGY PATHWAYS PROGRAM | Wilmington, CA | $59K | 2022 |
| Northpoint Health & Wellness Center IncNORTHSIDE COMMUNITY SAFETY CONFERENCE | Minneapolis, MN | $50K | 2022 |
| Northside Achievement ZoneGENERAL OPERATING SUPPORT | Minneapolis, MN | $40K | 2022 |
| Didi Hirsch Psychiatric ServiceSUPPORT FOR THE SURVIVORS OF SUICIDE ATTEMPTS WORK & OTHER SUPPORT GROUPS | Culver City, CA | $35K | 2022 |
| Pillsbury United CommunitiesNORTH NEWS | Minneapolis, MN | $35K | 2022 |
| Downtown Women'S CenterGENERAL OPERATING SUPPORT | Los Angeles, CA | $30K | 2022 |
| A Better ChicagoGENERAL OPERATING SUPPORT | Chicago, IL | $25K | 2022 |
| Youth FrontiersGENERAL OPERATING SUPPORT | Minneapolis, MN | $25K | 2022 |
| Planned Parenthood Of North Central StatesGENERAL OPERATING SUPPORT | St Paul, MN | $25K | 2022 |
| Jewish Community ActionGENERAL OPERATING SUPPORT | St Paul, MN | $25K | 2022 |