The Stephen Phillips Memorial Scholarship Fund is a private non-operating foundation based in Boston, Massachusetts. Established to honor Stephen Phillips, the organization was founded by Betty Phillips twenty years after her husband's death. The foundation operates as a 501(c)(3) educational organization dedicated to making college more accessible by removing financial barriers for deserving students.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$41.6M
-2.4% YoY
Annual Giving
$5.1M
+12.1% YoY
Grant Count
520
-3.5% YoY
Avg Grant Size
$10K
+16.2% YoY
Under IRS private-foundation payout rules, The Stephen Phillips Memorial reported a distributable amount of $5.7M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Stephen Phillips Memorial Scholarship Fund provides need-based and merit-based scholarships to students pursuing bachelor's degrees. The organization awards scholarships to students with demonstrated financial need who have achieved academic success. Selection criteria emphasize commitment to serving others, strong work ethic, and leadership qualities.
Grantmaking
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Geographic Focus
Where this funder awards grants
The Stephen Phillips Memorial Scholarship Fund serves students from six New England states: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. The organization has a specific connection to Lynn and Marblehead, Massachusetts, with a dedicated application pathway for applicants from these communities.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets: $44,128,875 (as of 2013)
Annual Income: $14,954,044 (as of 2013)
Organization Type: Private non-operating foundation
Filing Status: Required to file IRS Form 990-PF
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $41,616,438 | $42,633,718 | $43,097,955 |
| Revenue | $4,513,711 | $5,764,072 | $2,798,772 |
| Expenses | $6,854,952 | $6,259,207 | $5,859,255 |
| Qualifying Distributions | $6,333,435 | $5,836,641 | $5,245,565 |
| Net Investment Income | $3,113,256 | $4,386,008 | $2,036,535 |
| Distributable Amount | $5,744,545 | $4,933,254 | $5,028,211 |
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
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Angelila Casseus ($22,700), Amanda Leone ($19,500), Alexia Distasio ($19,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AALEYAH MCCULLOCH FAIRFIELD, CT | SCHOLARSHIP | $7,500 |
| AANIYA RIDDICK ATLANTA, GA | SCHOLARSHIP | $16,000 |
| ABDULHAQ SANI STORRS, CT | SCHOLARSHIP | $2,000 |
| ABIGAIL BAIN NEW HAVEN, CT | SCHOLARSHIP | $12,500 |
| ABIGAIL FAUCHER ST AUGUSTINE, FL | SCHOLARSHIP | $4,000 |
| ABIGAIL TISHON NEWPORT, RI | SCHOLARSHIP | $2,000 |
| ABIGALE BSULLAK PLYMOUTH, NH | SCHOLARSHIP | $7,500 |
| ABIGALE POMERLEAU MELBOURNE, FL | SCHOLARSHIP | $16,000 |
| ADAM BNAINI BOSTON, MA | SCHOLARSHIP | $16,200 |
| ADAM THERIAQUE BOSTON, MA | SCHOLARSHIP | $8,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| PEGGY EYSENBACH | DIRECTOR | 1 | $35,137 |
| LAWRENCE COOLIDGE | TREASURER/DIRECTOR | 1 | $47,137 |
| JOHN H FINLEY IV | CLERK/DIRECTOR | 1 | $35,137 |
| BETH ANDERSON | DIRECTOR | 1 | $35,137 |
| ROBERT M RANDOLPH | PRESIDENT/DIRECTOR | 1 | $35,137 |
| BARBARA W ILER | EXECUTIVE DIRECTOR | 40 | $262,914 |
Recent News & Activity
Recent developments and announcements
The Stephen Phillips Memorial Scholarship Fund maintains an active scholarship program with an annual award cycle. The organization features scholar stories highlighting recipients and their academic achievements across various institutions and fields of study. The foundation actively encourages donors to support existing scholarships and establish new ones to expand reach and invest in additional students.
Empowering Lives: 2026 Grants from Phillips Charitable Foundation - PhillipsSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Stephen Phillips Memorial fund?
The Stephen Phillips Memorial Scholarship Fund provides need-based and merit-based scholarships to students pursuing bachelor's degrees. The organization awards scholarships to students with demonstrated financial need who have achieved academic success. Selection criteria emphasize commitment to serving others, strong work ethic, and leadership qualities.
How do I apply for a grant from The Stephen Phillips Memorial?
**Award Amounts:** Scholarships of up to $17,000 are available to applicants. **Application Requirements:** • Essay required • Minimum 3.0 GPA • Demonstrated financial need • Current or prospective undergraduate students eligible (high school seniors through fifth-year undergraduates) **Application Timeline:** • Opens: December 1, 2025 • Closes: May 1, 2026 **Eligibility:** Students from Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, or Vermont seeking a bachelor's degree are w…
Where does The Stephen Phillips Memorial make grants?
The Stephen Phillips Memorial Scholarship Fund serves students from six New England states: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. The organization has a specific connection to Lynn and Marblehead, Massachusetts, with a dedicated application pathway for applicants from these communities.
What size grants does The Stephen Phillips Memorial award?
In 2024, The Stephen Phillips Memorial awarded 520 grants totaling $5.1M — an average of about $10K per grant, based on its IRS Form 990 filings.
How much is The Stephen Phillips Memorial required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Stephen Phillips Memorial reported a distributable amount of $5.7M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Stephen Phillips Memorial's EIN?
The Stephen Phillips Memorial's EIN (Employer Identification Number) is 27-5040651. IRS Form 990 filing data is available on this page for 2019–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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