Samuel L Phillips Family Foundation

Foundation · Grantmaker Spruce Pine, NC EIN: 56-2225556

The Samuel L Phillips Family Foundation is a private independent foundation located in Spruce Pine, North Carolina. Established in 2000 and granted tax-exempt status in March 2002, the foundation operates as a 501(c)(3) organization dedicated to philanthropic grantmaking in North Carolina.

Key facts about Samuel L Phillips Family Foundation

EIN: 56-2225556
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $640,371
Grants made (2024): 17
Average grant: $37,669
Median grant: $20,000
New grantees (estimate): 29% first-time grantees (5 of 17, 2024)
Total assets: $10,382,112
Primary geography: North Carolina (97% of itemized 2024 grant dollars)
How to apply: Annual application deadline: June 30 for summer meeting. Full details ↓

Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.

Who Samuel L Phillips Family Foundation funds

By grant dollars, the top recipient states for Samuel L Phillips Family Foundation's 17 itemized 2024 grants were North Carolina (97%). The most frequent recipient cities were Spruce Pine, NC (4 grants) and Bakersville, NC (3 grants). 88% of grants with a stated purpose were for general or operating support.

Is Samuel L Phillips Family Foundation open to new grantees?

29%

first-time grantees, 2024

In 2024, 5 of 17 grantees (29%) were first-time recipients. First grants averaged $35K; repeat grants $39K. How we count

Medians: $38K first-time, $1K repeat.

65% of 2024 grantees were also funded in 2023. Method
Giving held roughly steady from 2021 to 2024 (+13%). Method
In 2024 it paid out 103% of its IRS minimum distribution (the 5% rule). Method

Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

Next steps with Samuel L Phillips Family Foundation

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$10.4M

+1.6% YoY

Annual Giving

$640K

-0.2% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$38K

-0.2% YoY

Under IRS private-foundation payout rules, Samuel L Phillips Family Foundation reported a distributable amount of $668K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation supports organizations in the following program areas:

Arts, culture, and humanities
Education
Health
Human services

The foundation also provides giving for higher education and health care, particularly hospitals.

Grantmaking

Grant Range

$500 to $300,000

Review Cycle

June 30 for summer meeting

How to Apply

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Geographic Focus

Where this funder awards grants

The foundation prioritizes grants with measurable impact within Mitchell County, North Carolina. Upon special consideration, grants may be awarded to organizations in surrounding areas of western North Carolina.

Grant Distribution by State

North Carolina $618K (97%)

South Carolina $20K (3%)

Pennsylvania $1K (0%)

Minnesota $500 (0%)

California $500 (0%)

Share of all 17 itemized 2024 grant dollars.

States

California Minnesota North Carolina New York Pennsylvania South Carolina

Cities

Spruce PineBakersvilleDurhamAshevilleLinvilleNew YorkPhiladelphiaRancho Palos VerdesRochesterBooneGreenvilleBurnsvilleMorrisvilleColumbiaCrossnoreNewlandSpartanburgWinstonsalem

Financial History

Multi-year comparison from IRS filings

Current Financial Position (2024):

Total assets: $10,382,112
Total revenues: $964,763
Total expenses: $798,712
Total liabilities: $0

Recent Annual Giving:

2024: $640,371 in total giving across 22 grants
2023: $687,000 in total giving across 22 grants
2022: $567,000 in total giving across 21 grants
2021: $701,000 in total giving across 16 grants

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$10,382,112	$10,216,061	$10,153,181
Revenue	$964,763	$521,516	$312,767
Expenses	$798,712	$782,410	$835,682
Qualifying Distributions	$685,668	$673,002	$731,767
Net Investment Income	$860,271	$413,812	$214,852
Distributable Amount	$668,060	$623,560	$691,049

Data update history

When this profile's IRS filing data changed on Grantable

March 1, 2026 IRS filings on file for fiscal years 2020–2024

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

93 grants across all recorded years

Open Grants

1 open opportunity from Samuel L Phillips Family Foundation

Foundation

Samuel L. Phillips Family Foundation Grant

Samuel L Phillips Family Foundation

Amount

Varies

Deadline

Rolling / Open

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include YMCA of Avery County ($250,000), Mitchell County Schools ($106,571), Mayland Community College Fnd ($75,000).

Recipient	Purpose	Amount
YMCA OF AVERY COUNTY Linville, NC	CAPITAL CAMPAIGN	$250,000
MITCHELL COUNTY SCHOOLS Bakersville, NC	GENERAL PURPOSE	$106,571
MAYLAND COMMUNITY COLLEGE FND Spruce Pine, NC	RESTAURANT COMPLETION	$75,000
HIGH COUNTRY YOUTH BALLET INC Newland, NC	GENERAL PURPOSE	$45,000
MARYLAND EARLY COLLEGE HIGH SCHOOL Spruce Pine, NC	GENERAL PURPOSE	$45,000
BULADEAN COMMUNITY CENTER Bakersville, NC	GENERAL PURPOSE	$37,800
ECU MEDICAL & HEALTH SCIENCES Greenville, NC	GENERAL PURPOSE	$25,000
PISGAH LEGAL SERVICES Asheville, NC	GENERAL PURPOSE	$25,000
GO GLOBAL INC Columbia, SC	GENERAL PURPOSE	$20,000
SPECIAL OLYMPICS Morrisville, NC	GENERAL PURPOSE	$5,000

Leadership & Key People

Leadership team and compensation from IRS filings

The foundation's leadership includes:

Gina Phillips – President
Fred L Stout – Vice President
G Byron Phillips – Treasurer
Van Phillips – Secretary
Board Members: Brandee Cook, Lindsey Canipe, Jennifer P Dellinger, Keith S Holtsclaw, Drey Phillips, and Adrienne Snyder

Samuel L Phillips Family Foundation is led by Gina Phillips, President on every filing since 2020; all 10 officers listed in 2024 are compensated.

Officers on the 2024 filing

Gina Phillips

President

On filings since 2020

$10K (2021) → $5K (2024)
Adrienne Snyder

Board Member

On filings since 2020

2 hrs/week

$5K (2021) → $100 (2024)
Drey Phillips

Board Member

On filings since 2020

2 hrs/week

$200 (2021) → $5K (2024)
Fred L. Stout

Vice President

On filings since 2020

$10K (2021) → $5K (2024)
G. Byron Phillips

Treasurer

On filings since 2020

$10K (2021) → $5K (2024)
Jennifer P. Dellinger

Board Member

On filings since 2020

2 hrs/week

$200 (2021) → $100 (2024)
Keith S. Holtsclaw

Board Member

On filings since 2020

2 hrs/week

$10K (2021) → $5K (2024)
Lindsey Canipe

Board Member

On filings since 2020

2 hrs/week

$200 (2021) → $100 (2024)
Van Phillips

Secretary

On filings since 2020

9 hrs/week

$10K (2021) → $5K (2024)
Brandee Cook

Board Member

On filings since 2021

$5K (2021) → $100 (2024)

Former officers (1)

Former: Brandee Boone (2020) — Board Member

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

Contact Information

Address: PO Box 400, Spruce Pine, NC 28777-0400
Phone: 800-352-3705
Website: www.wellsfargo.com/private-foundations/phillips-family-foundation/

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does Samuel L Phillips Family Foundation fund?

The foundation's mission is to improve the quality of life for the people of Mitchell County, North Carolina, by supporting charitable organizations active in the area. While the primary geographic focus is Mitchell County, grants may extend to surrounding areas of western North Carolina upon special consideration. The foundation supports organizations in the following program areas: • Arts, culture, and humanities • Education • Health • Human services The foundation also provides giving for hi…

How do I apply for a grant from Samuel L Phillips Family Foundation?

Annual application deadline: June 30 for summer meeting. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑

Where does Samuel L Phillips Family Foundation make grants?

What size grants does Samuel L Phillips Family Foundation award?

In 2024, Samuel L Phillips Family Foundation awarded 17 grants totaling $640K — an average of about $38K per grant, based on its IRS Form 990 filings.

How much is Samuel L Phillips Family Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Samuel L Phillips Family Foundation reported a distributable amount of $668K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Samuel L Phillips Family Foundation's EIN?

Samuel L Phillips Family Foundation's EIN (Employer Identification Number) is 56-2225556. IRS Form 990 filing data is available on this page for 2020–2024.