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.
Key facts about The Stephen Phillips Memorial
- EIN
- 27-5040651
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $5,113,260
- Grants made (2024)
- 520
- Average grant
- $9,833
- Median grant
- $8,500
- Total assets
- $41,616,438
- Primary geography
- Massachusetts (42% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Who The Stephen Phillips Memorial funds
By grant dollars, the top recipient states for The Stephen Phillips Memorial's 520 itemized 2024 grants were Massachusetts (42%), Connecticut (14%) and Rhode Island (8%). The most frequent recipient cities were Boston, MA (84 grants), Amherst, MA (43 grants), Storrs, CT (38 grants) and Worcester, MA (19 grants). None of its 520 grants with a stated purpose were described as general or operating support. Recurring purposes include "Scholarship" (520 grants).
How The Stephen Phillips Memorial gives
- Giving held roughly steady from 2021 to 2024 (−13%). Method
- In 2024 it paid out 110% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with The Stephen Phillips Memorial
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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
Share of all 520 itemized 2024 grant dollars.
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 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2019–2024
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
2,675 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Terrance Huynh ($41,000), Annabeth Pisinski-Cutler ($30,000), Chloe Simard ($30,000).
| Recipient | Purpose | Amount |
|---|---|---|
| TERRANCE HUYNH Bangor, ME | SCHOLARSHIP | $41,000 |
| ANNABETH PISINSKI-CUTLER Philadelphia, PA | SCHOLARSHIP | $30,000 |
| CHLOE SIMARD University of Colorado, CO | SCHOLARSHIP | $30,000 |
| IASMIM CRISTINA DE SOUSA-VIEIRA Easton, MA | SCHOLARSHIP | $30,000 |
| KEVIN SHI Waltham, MA | SCHOLARSHIP | $30,000 |
| MAKAYLA PRESTON University Park, PA | SCHOLARSHIP | $30,000 |
| WEEDNEY EXAVIER Atlanta, GA | SCHOLARSHIP | $30,000 |
| MEGAN CONSOLATI Hamden, CT | SCHOLARSHIP | $29,500 |
| BEATRICE ROGERS Amherst, MA | SCHOLARSHIP | $28,500 |
| PATRICK GROVER North Kingstown, RI | SCHOLARSHIP | $28,250 |
Leadership & Key People
Officers and directors from IRS filings
The Stephen Phillips Memorial is led by Barbara W. Iler, Executive Director on every filing since 2019; all 6 officers listed in 2024 are compensated.
Officers on the 2024 filing
Barbara W. Iler
Executive Director
On filings since 2019
40 hrs/week
$210K (2019) → $263K (2024)
Robert M. Randolph
President & Director
On filings since 2019
1 hr/week
$35K (2019) → $35K (2024)
John H. Finley IV
Clerk & Director
On filings since 2019
1 hr/week
$35K (2019) → $35K (2024)
Lawrence Coolidge
Treasurer & Director
On filings since 2019
1 hr/week
$47K (2019) → $47K (2024)
Beth Anderson
Director
On filings since 2020
1 hr/week
$35K (2020) → $35K (2024)
Peggy Eysenbach
Director
On filings since 2020
1 hr/week
$35K (2020) → $35K (2024)
Former officers (2)
- Former: Beth Anderson Appointed (2019) — Director
- Former: Peggy Eysenbach Appointed (2019) — Director
Data from IRS Form 990 filings, 2019–2024. "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
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 September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.