Jay and Rose Phillips Family Foundation of Minnesota
Grantmaking foundation in Minneapolis, Minnesota · EIN 27-4196509
- Minnesota
- Minneapolis
- Philanthropy, Voluntarism and Grantmaking Foundations
- Philanthropy, Voluntarism and Grantmaking Foundations in Minnesota
- Grants itemized on the 990
- $1.7MTax year 2024
- Grants made
- 103Tax year 2024
- Total assets
- $63MLatest reported
- Latest IRS filing
- 2024Form 990 / 990-PF
Mission
THE FOUNDATION FORMED THE 927 BUILDING, LLC TO RENOVATE A COMMERCIAL BUILDING LOCATED AT 927 WEST BROADWAY IN NORTH MINNEAPOLIS (THE "LLC"). THE FOLLOWING ARE THE GOALS OF THE LLC THAT GUIDE THE PROJECT DEVELOPMENT:A. ACHIEVING COMMUNITY AND ECONOMIC DEVELOPMENT THAT LEAD TO LOCAL OWNERSHIP.B. PURPOSEFULLY INVESTING IN THE NORTH MINNEAPOLIS COMMUNITY THROUGH A CATLYTIC REDEVELOPMENT OF AN EXISTING BUT NEGLECTED PROPERTY.C. PROVIDING EMPLOYMENT, RESOURCES AND CREATIVE AND COMMUNITY SPACE FOR THE PEOPLE THAT LIVE IN THE NORTH MINNEAPOLIS COMMUNITY.D. BRINGING NEW RETAIL TO THE NORTH MINNEAPOLIS COMMUNITY.THE LLC IS A FUNCTIONALLY RELATED BUSINESS AS DEFINED IN SECTION 4942 OF THE INTERNAL REVENUE CODE FOR THE FOUNDATION BECAUSE THE PROJECT DIRECTLY FURTHERS THE FOUNDATION'S MISSION. BECAUSE IT IS A FUNCTIONALLY RELATED BUSINESS, THE FOUNDATION'S OWNERSHIP IN THE LLC IS NOT AN EXCESS BUSINESS HOLDING WITHIN THE MEANING OF SECTION 4943 OF THE INTERNAL REVENUE CODE.
Giving by year
Totals by tax year, rounded to two significant figures. Years without a reported total show the sum of grants itemized on the filing.
Top recipients
| Recipient | Amount | Tax year |
|---|---|---|
| Minnesota Private College Fund | $220K | 2024 |
| Fortis Capital | $150K | 2024 |
| Minneapolis Jewish Federation | $100K | 2024 |
| The Minneapolis Foundation | $100K | 2024 |
| Women in Non Traditional Employment Roles | $65K | 2024 |
Amounts are rounded. The full grantee list (103 grants in 2024) is available with a free account.
Website: www.phillipsfamilymn.org
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Source: IRS Form 990 and 990-PF filings, tax year 2024. Also see this organization on ProPublica Nonprofit Explorer.