Phase Two Cebu
Phase Two Cebu is a private foundation focused on Housing & Shelter, based in Cambridge, MN. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $105K in total assets. In 2025, it awarded 1 grant totaling $190K.
Phase Two Cebu at a glance
In short: Phase Two Cebu gave $190K across 1 grant in 2025 (avg $190K). Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $190,000
- +137.5% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $190,000
- +137.5% vs 2024
- Median grant
- $190,000
- Total assets
- $104,906
- -24.6% vs 2024
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Phase Two Cebu funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Phase Two Cebu Group Inc ($190K).
Grant Size Distribution
10 grants across all recorded years
The most common grant size was under $50K: 5 grants of 10 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
How Phase Two Cebu gives
- Giving grew 76% from 2022 to 2025. Method
- In 2025 it paid out well above its IRS minimum distribution (the 5% rule). 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 2021 to 2025, annual grant giving ranged from $71K (2021) to $190K (2025). In 2025 it made 1 grant totaling $190K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Phase Two Cebu Group Inc | For Assistance in Construction of Low Cost Housing | $190,000 |
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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 |
|---|---|---|---|---|---|---|---|---|
| 2025 | $104,906 | $251,001 | $285,558 | $190,000 | 1 | $285,058 | — | $5,834 |
| 2024 | $139,191 | $175,691 | $159,076 | $80,000 | 1 | $157,138 | — | $7,249 |
| 2023 | $122,576 | $145,562 | $203,747 | $172,843 | 1 | $202,087 | — | $6,037 |
| 2022 | $180,761 | $127,226 | $125,061 | $108,124 | 6 | $111,593 | — | $8,849 |
| 2021 | $178,576 | $157,730 | $87,251 | $71,485 | 1 | $87,251 | — | — |
| 2020 | $108,098 | $73,048 | $25,321 | — | — | — | $29 | — |
Under IRS private-foundation payout rules, Phase Two Cebu reported a distributable amount of $6K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Phase Two Cebu is led by Joel Reasoner, Executive Director on every filing since 2024; 1 of 6 officers listed in 2025 is compensated.
Officers on the 2025 filing
Joel Reasoner
Executive Director
On filings since 2024
40 hrs/week
$36K (2024) → $39K (2025)
Paul H Reasoner
President
On filings since 2020
15 hrs/week
No compensation reported
Roger D Madison
Chairman
On filings since 2020
5 hrs/week
No compensation reported
Michelle Turner
Secretary
On filings since 2020
5 hrs/week
No compensation reported
Ruth Lunde
Treasurer
On filings since 2020
5 hrs/week
No compensation reported
Shari Reasoner
Vice President
Vice President → Vide President, 2023
Vide President → Vice President, 2024
On filings since 2020
15 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $39K, to Joel Reasoner (Executive Director).
Frequently asked questions about Phase Two Cebu
How much does Phase Two Cebu give each year?
Phase Two Cebu gave $190K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $80K across 1 grant.
How large is Phase Two Cebu?
Phase Two Cebu reported $105K in total assets on its 2025 IRS Form 990-PF. It paid out $285K in qualifying distributions that year, against a required minimum of $6K (roughly 5% of its investment assets).
What is Phase Two Cebu?
Phase Two Cebu is a private foundation focused on Housing & Shelter, based in Cambridge, MN. It holds $105K in total assets as of 2025.
Where does Phase Two Cebu operate?
Phase Two Cebu has awarded grants in California, Illinois, Minnesota, New York, Oklahoma.
What is Phase Two Cebu's EIN?
Phase Two Cebu's EIN (Employer Identification Number) is 84-1797339. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS October 28, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 12, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS September 23, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 14, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
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