Kermit G Phillips II Charitable Tr
Kermit G Phillips II Charitable Tr is a private foundation, based in Greensboro, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $49.9M in total assets. In 2024, it awarded 8 grants totaling $1.6M. Net investment income was $5.2M.
Kermit G Phillips II Charitable Tr at a glance
In short: Kermit G Phillips II Charitable Tr gave $1.6M across 8 grants in 2024 (avg $197K), top state Texas. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $1,578,642
- +9.5% vs 2023
- Grants made (2024)
- 8
- +14.3% vs 2023
- Average grant
- $197,330
- -4.2% vs 2023
- Median grant
- $119,000
- Total assets
- $49,875,275
- +0.5% vs 2023
- Primary geography
- Texas (37% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Kermit G Phillips II Charitable Tr funds
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
The largest 2024 recipient was Southern Methodist University ($580K). Together the top 7 received $1.6M.
Grant Size Distribution
40 grants across all recorded years
The most common grant size was in the $250–500K range: 13 grants of 40 (33%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 8 itemized grants.
Cities
How Kermit G Phillips II Charitable Tr gives
- Giving held roughly steady from 2021 to 2024 (+5%). Method
- In 2024 it paid out 94% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $1.4M (2023) to $2.1M (2020). In 2024 it made 8 grants totaling $1.6M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Southern Methodist University Dallas, TX | Impact Lab Initiative | $580,000 |
| Shift Education Greensboro, NC | Operations and Program Support | $500,000 |
| Giving Tuesday Inc Brooklyn, NY | Programs Support | $200,000 |
| Panorama Global Seattle, WA | Operations and Program Support | $138,000 |
| Lift Our Voices Seattle, WA | Operations and Program Support | $100,000 |
| Panorama Global Seattle, WA | Child Sexual Abuse Prevention Grant | $50,000 |
| The Impact New York, NY | Operations and Program Support | $5,642 |
| Center for Violence Prevention Gainesville, FL | Research | $5,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $49,875,275 | $5,142,964 | $3,351,361 | $1,578,642 | 8 | $2,831,463 | $5,160,407 | $3,025,758 |
| 2023 | $49,620,486 | $2,657,105 | $3,908,837 | $1,442,000 | 7 | $3,384,547 | $2,775,392 | $2,797,485 |
| 2022 | $58,854,090 | $2,043,327 | $3,409,362 | $1,862,120 | 6 | $3,006,658 | $2,132,778 | $3,015,632 |
| 2021 | $71,515,607 | $5,235,464 | $3,285,607 | $1,500,092 | 7 | $3,053,121 | $5,232,934 | $3,195,518 |
| 2020 | $63,114,572 | $-1,574,144 | $3,665,638 | $2,110,507 | 12 | — | $1,002,960 | $2,921,163 |
Under IRS private-foundation payout rules, Kermit G Phillips II Charitable Tr reported a distributable amount of $3.0M for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Kermit G Phillips II Charitable Tr is led by Elizabeth Carlock Phillips, Executive Director on the 2024 filing; 1 of 4 officers listed in 2024 is compensated.
Officers on the 2024 filing
Elizabeth Carlock Phillips
Executive Director
New on the 2024 filing
20 hrs/week
$46K (2024)
Keith Phillips
Trustee
On filings since 2020
No compensation reported
Kevin Phillips
Trustee
On filings since 2020
No compensation reported
Kat Phillips
Trustee
New on the 2024 filing
No compensation reported
Former officers (3)
- Former: Katherine Phillips (2020–2023) — Trustee
- Former: Kert Phillips (2020–2023) — Trustee
- Former: Peter Gilchrist (2020–2023) — Trustee
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $46K, to Elizabeth Carlock Phillips (Executive Dir.).
Frequently asked questions about Kermit G Phillips II Charitable Tr
How much does Kermit G Phillips II Charitable Tr give each year?
Kermit G Phillips II Charitable Tr gave $1.6M across 8 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.4M across 7 grants.
What is Kermit G Phillips II Charitable Tr's typical grant size?
Kermit G Phillips II Charitable Tr's median grant in 2024 was $119,000, and its average grant was $197,330, across 8 grants on its 2024 IRS Form 990-PF.
Where does Kermit G Phillips II Charitable Tr give grants?
Kermit G Phillips II Charitable Tr's top state is Texas, with 37% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were North Carolina (32%) and Washington (18%). The most frequent recipient cities were Seattle, WA (3 grants).
Does Kermit G Phillips II Charitable Tr give general operating support?
Not in 2024: none of the 8 grants with a stated purpose on Kermit G Phillips II Charitable Tr's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Operations and Program Support" (4 grants).
Who are Kermit G Phillips II Charitable Tr's largest grantees?
Kermit G Phillips II Charitable Tr's largest 2024 grantees include Southern Methodist University ($580,000), Shift Education ($500,000) and Giving Tuesday Inc ($200,000), according to its 2024 IRS Form 990-PF. Together they received 81% of its itemized 2024 grant dollars.
How large is Kermit G Phillips II Charitable Tr?
Kermit G Phillips II Charitable Tr reported $49.9M in total assets on its 2024 IRS Form 990-PF. It paid out $2.8M in qualifying distributions that year, against a required minimum of $3.0M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Kermit G Phillips II Charitable Tr's EIN?
Kermit G Phillips II Charitable Tr's EIN (Employer Identification Number) is 04-6977585. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Kermit G Phillips II Charitable Tr funds
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