TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2020

Open to Public Inspection

For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020

Name of foundation
EDWARD J PHILLIPS FAMILY FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)100 UNIVERSITY AVE SE
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MINNEAPOLIS, MN55414

A Employer identification number

20-2041201

B Telephone number (see instructions)

(612) 455-8101

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$31,269,550J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	250,000
2	Check .............
3	Interest on savings and temporary cash investments	76,953		76,953
4	Dividends and interest from securities...	508,560		503,670
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		1,282,746
b	Gross sales price for all assets on line 6a 7,857,666
7	Capital gain net income (from Part IV, line 2)...			1,282,746
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		49,846	0
12	Total. Add lines 1 through 11........	2,168,105		1,863,369
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........		821	411	410
b	Accounting fees (attach schedule).......		14,900	11,175	3,725
c	Other professional fees (attach schedule)....		90,909	93,609	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		29,888	6,729	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		29	0	29
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	136,547		111,924	4,164
25	Contributions, gifts, grants paid.......	905,000			905,000
26	Total expenses and disbursements. Add lines 24 and 25	1,041,547		111,924	909,164
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	1,126,558
b	Net investment income (if negative, enter -0-)			1,751,445
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2020)

Form 990-PF (2020)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	1,106,029	430,356	430,356
	2	Savings and temporary cash investments.........
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	12,761,381	12,786,212	21,070,465
	c	Investments—corporate bonds (attach schedule).......	3,914,017	6,417,409	6,495,709
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	3,941,282	3,489,180	3,230,432
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	43,146	42,588	42,588
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	21,765,855	23,165,745	31,269,550
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	21,765,855	23,165,745
	29	Total net assets or fund balances (see instructions).....	21,765,855	23,165,745
	30	Total liabilities and net assets/fund balances (see instructions).	21,765,855	23,165,745

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

21,765,855

Enter amount from Part I, line 27a .....................

1,126,558

Other increases not included in line 2 (itemize) bullet

273,332

Add lines 1, 2, and 3 ..........................

23,165,745

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

23,165,745

Form 990-PF (2020)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation
1 a	PUBLICLY TRADED SECURITIES
b	CAPITAL GAINS DIVIDENDS	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	7,486,305	6,574,920	911,385
b	371,361		371,361
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			911,385
b			371,361
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	1,282,746
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE

1 Reserved

(a) Reserved	(b) Reserved	(c) Reserved	(d) Reserved

Reserved...........................

Reserved,..........................

Form 990-PF (2020)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	24,345
c	All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	24,345
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	24,345
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	30,734
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	30,734
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	6,389
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax6,389	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

TYLER J PHILLIPS Telephone no. bullet

(612) 362-7506

Located at bullet

100 UNIVERSITY AVE SEMINNEAPOLISMN ZIP+4 bullet

55414

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ........ bullet

16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country bullet

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2020?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2020, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2020?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2020.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?

Form 990-PF (2020)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .................YesNo

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
TYLER J PHILLIPS	PRESIDENT 2.00	0	0	0
100 UNIVERSITY AVE SE MINNEAPOLIS,MN55414	PRESIDENT 2.00	0	0	0
JAY J PHILLIPS	SECRETARY 2.00	0	0	0
100 UNIVERSITY AVE SE MINNEAPOLIS,MN55414	SECRETARY 2.00	0	0	0
HUTTON PHILLIPS	TREASURER 2.00	0	0	0
100 UNIVERSITY AVE SE MINNEAPOLIS,MN55414	TREASURER 2.00	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2020)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2020)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

27,215,042

Average of monthly cash balances.......................

791,167

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

28,006,209

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

28,006,209

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

420,093

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

27,586,116

Minimum investment return. Enter 5% of line 5..................

1,379,306

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

Minimum investment return from Part X, line 6....................

1,379,306

Tax on investment income for 2020 from Part VI, line 5......

24,345

Income tax for 2020. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

24,345

Distributable amount before adjustments. Subtract line 2c from line 1............

1,354,961

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

1,354,961

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

1,354,961

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

909,164

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

909,164

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b. See instructions.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

909,164

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2020)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2019	(c) 2019	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7					1,354,961
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2020:
a From 2015......	243,798
b From 2016......	463,781
c From 2017......	842,233
d From 2018......
e From 2019......
fTotal of lines 3a through e........		1,549,812
4Qualifying distributions for 2020 from Part
XII, line 4: $ 909,164
a Applied to 2019, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2020 distributable amount.....					909,164
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2020.		445,797			445,797
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		1,104,015
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		1,104,015
10 Analysis of line 9:
a Excess from 2016....	261,782
b Excess from 2017....	842,233
c Excess from 2018....
d Excess from 2019....
e Excess from 2020....

Form 990-PF (2020)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2020	(b) 2019	(c) 2018	(d) 2017	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2020)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
AMHERST H WILDER FOUNDATION 451 LEXINGTON PARKWAY N ST PAUL,MN55104	N/A	PC	GENERAL SUPPORT	20,000
CONSTELLATION FUND 50 2ND AVE N MINNEAPOLIS,MN55401	N/A	PC	GENERAL SUPPORT	100,000
HILLEL THE FOUNDATION FOR JEWISH CAMPUS LIFE 1521 UNIVERSITY AVE SE MINNEAPOLIS,MN55414	N/A	PC	GENERAL SUPPORT	50,000
LEUKEMIA AND LYMPHOMA SOCIETY 1711 BROADWAY STREET NE MINNEAPOLIS,MN55413	N/A	PC	GENERAL SUPPORT	25,000
MAYO FOUNDATION 200 FIRST STREET SW ROCHESTER,MN55905	N/A	PC	GENERAL SUPPORT	225,000
MULTIPLE MYELOMA RESEARCH FOUNDATION 383 MAIN AVENUE 5TH FLOOR NOWALK,CT06851	N/A	PC	GENERAL SUPPORT	215,000
NORTHSIDE ACHIEVEMENT ZONE 2123 WEST BROADWAY AVENUE STE 100 MINNEAPOLIS,MN55411	N/A	PC	GENERAL SUPPORT	200,000
PAGE EDUCATION FOUNDATION PO BOX 581254 MINNEAPOLIS,MN554581254	N/A	PC	GENERAL SUPPORT	10,000
PROOF ALLIANCE 1876 W MINNEHAHA AVENUE ST PAUL,MN55104	N/A	PC	GENERAL SUPPORT	10,000
SCHOOL FOR ETHICS AND GLOBAL LEADERSHIP 1528 18TH STREET NW WASHINGTON,DC20036	N/A	PC	GENERAL SUPPORT	40,000
TEMPLE ISRAEL 2324 EMERSON AVENUE SOUTH MINNEAPOLIS,MN55405	N/A	PC	GENERAL SUPPORT	10,000
Total ................................. 3a				905,000

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2020)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........			14	76,953
4 Dividends and interest from securities....			14	508,560
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....			01	49,846
8 Gain or (loss) from sales of assets other than inventory ............			18	1,282,746
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		1,918,105	0

13Total. Add line 12, columns (b), (d), and (e)..................

1,918,105

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2020)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2020

Name of the organization

EDWARD J PHILLIPS FAMILY FOUNDATION

Employer identification number

20-2041201

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)

Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2

Name of organization EDWARD J PHILLIPS FAMILY FOUNDATION

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	EDWARD J PHILLIPS CHARITABLE LEAD ANNUITY TRUST 150 SOUTH FIFTH STREET SUITE 2300 MINNEAPOLIS, MN55402	$ 250,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Page 3

Name of organization EDWARD J PHILLIPS FAMILY FOUNDATION		Employer identification number 20-2041201

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Page 4


Name of organization EDWARD J PHILLIPS FAMILY FOUNDATION			Employer identification number 20-2041201
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2020 AccountingFeesSchedule

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	14,900	11,175		3,725

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AMC NETWORKS INC	4,975	5,164
ARAMARK SERVICES INC	7,288	7,206
CHENIERE ENERGY PARTNERS	15,352	15,394
WYNDHAM DESTINATIONS INC	12,493	13,560
BLUE CUBE SPINCO INC	8,887	8,470
TOLL BROS FIN CORP	10,706	11,225
ICAHN ENTERPRISES/FIN	9,921	10,345
WPX ENERGY INC	7,033	7,359
TELEFLEX INC	8,350	8,330
SPECTRUM BRANDS INC	13,419	13,424
GOODYEAR TIRE & RUBR	4,057	4,090
COML METALS CO	6,143	6,195
NRG ENERGY INC	6,388	6,330
TARGA RES PARTNERS LP / TARGA RES	6,285	6,361
GLP CAPITAL LP / FIN II	8,284	9,181
NEWELL RUBBERMAID INC	13,492	14,320
SPRINGLEAF FINANCE CORP	11,570	13,008
AMERICAN AXLE & MFG INC	4,016	4,140
WESTERN DIGITAL CORP	16,801	17,680
SUNOCO LP/FINANCE CORP	9,008	9,225
LAMAR MEDIA CORP	10,147	10,313
OVINTIV EXPLRTN INC	8,902	9,656
PENSKE AUTOMOTIVE GROUP	5,240	5,194
CRESTWOOD MIDSTREAM PART	4,065	4,010
UTD CONTL HLDGS	10,981	10,825
S WESTN ENERGY CO	10,975	11,413
EQT CORP	14,093	15,943
NETFLIX INC	11,145	12,656
ANTERO RESOURCES CORP	5,795	5,700
ALBERTSONS COS/SAFEWAY	2,042	2,060
FORD MTR CO	5,510	6,144
LEVEL 3 FING INC	18,367	18,512
CDK GLOBAL INC	6,138	6,295
CHEMOURS CO	10,524	10,366
RANGE RES CORP	9,700	9,446
AMERIGAS PART/FIN CORP	5,059	5,538
DIAMONDBACK ENERGY INC	6,018	6,246
OCCIDENTAL PETROLEUM COR	5,400	5,796
CENOVUS ENERGY INC	6,014	6,763
DCP MIDSTREAM OPER	8,369	8,791
KRAFT HEINZ FOODS CO	11,363	13,213
VERISIGN INC	3,043	3,409
TEMPUR SEALY INTL INC	13,063	13,529
CNO FINL GROUP INC	18,317	20,514
ENLINK MIDSTREAM PARTNER	5,820	5,820
HCA INC	4,526	4,820
CDW LLC/CDW FIN	5,085	5,099
QORVO INC	9,613	9,902
ONEMAIN FIN CORP	12,245	12,375
CENTENE CORP	7,672	7,771
FREEPORT-MCMORAN INC	19,262	19,755
ALLY FINL INC	28,641	35,210
SPRINT CAP CORP	11,709	12,667
CF INDUSTRIES INC	13,100	18,432
NETFLIX INC	6,571	7,193
NEWELL BRANDS INC	9,391	10,913
APACHE CORPORATION	5,062	5,525
HOWMET AEROSPACE INC	6,948	8,435
TELECOM ITALIA CAPITAL	18,194	19,460
NOKIA OYJ	8,518	10,218
ARCELORMITTAL	6,470	7,016
MDC HOLDINGS INC	16,854	17,427
FREEPORT-MCMORAN INC	7,446	9,960
ENLINK MIDSTREAM PARTNER	4,363	4,013
KRAFT HEINZ FOODS CO	7,690	8,642
FORD MTR CO	8,125	8,360
EMBARQ CORP	8,019	9,868
TRANSDIGM INC	6,271	6,210
HCA INC	22,179	24,806
HUGHES SATELLITE SYS	3,237	3,311
AMERIGAS FINANCE LLC/COR	3,064	3,375
HCA INC	8,125	9,195
MGM GROWTH/MGM FIN	8,396	8,607
MARRIOTT OWNERSHIP/ILG	6,400	6,270
BUCKEYE PARTNERS LP	14,502	15,195
NUANCE COMMUNICATIONS	7,993	8,465
SCOTTS MIRACLE-GRO CO	10,549	10,550
COVANTA HLDG CORP	5,247	5,252
NRG ENERGY INC	3,105	3,168
HOWMET AEROSPACE INC	4,945	5,900
WPX ENERGY INC	9,076	9,810
OCCIDENTAL PETROLEUM COR	6,880	7,120
RADIAN GROUP INC	13,082	14,277
CEDAR FAIR/CAN/MAGNUM/MI	4,242	4,090
MGM RESORTS INTL	13,591	14,489
NUSTAR LOGISTICS LP	7,311	7,455
UTD RENTALS NORTH AM	17,546	18,211
NOKIA OYJ	2,035	2,181
APACHE CORP	5,993	6,360
DANA INC	8,262	8,480
T-MOBILE USA INC	2,117	2,150
CIT GROUP INC	14,827	15,860
GOODYEAR TIRE & RUBR	4,991	5,113
CENTENE CORP	5,107	5,131
VIACOMCBS INC	5,074	5,188
PRECISION DRILLING CORP	4,187	4,325
ATP OIL & GAS	100,210	1
JP MORGAN CHASE & CO	500,000	530,000
DELL INC	4,004	4,025
HILTON GRAND VACA LLC/IN	8,217	8,380
MERITAGE HOMES CORP	5,114	5,313
APACHE CORP	1,978	2,015
VIDEOTRON LTD	5,066	5,256
DISH DBS CORP	20,078	20,404
VANGUARD TTL INTL BND-ADM	1,675,659	1,711,390
VANGUARD MORTGAGE-BACKED SEC	233,483	233,420
BLCKRCK HI YLD BND PORT-K	26,285	26,967
DOUBLELINE TTL RTRN BND-I	81,191	82,521
ISHARES US TREASURY BOND ETF	109,876	107,979
LORD ABBETT SHRT DUR INC-F3	48,494	49,671
MAINSTAY HI YLD CORP BND-R6	77,517	80,058
MTRPLTN WST TTL RTRN BND-PLN	130,655	133,870
MFS MUNI HIGH INCOME-R6	42,813	44,193
VANGUARD INT-TERM CORPORATE	233,662	237,799
NUVEEN INTERM DUR MUNI BD	61,656	62,325
BLACKROCK II-FLOAT RAT-K	28,355	28,326
JPM INCOME FD - USD - R6	70,166	70,827
MUZINICH LOW DURAT-SUPR INST	81,521	83,119
ISHARES 20+ YEAR TREASURY BO	482,059	457,417
PGIM HIGH YIELD-Q	437,219	478,950
VANGUARD TOT BD MKT IDX-ADM	818,365	824,577
FED HER OPP HIGH YIELD BD-R6	22,988	23,812
CIT GROUP INC	8,198	8,480
LUMEN TECHNOLOGIES INC	7,710	8,340
ANTERO RES CORP	3,023	2,992
CSC HOLDINGS LLC	15,949	16,236
CEDAR FAIR LP/CANADA'S W	5,024	5,013
CONTL RES	2,961	3,005
ICAHN ENTERPRISES/FIN	11,260	11,187
WESCO DISTRBTN INC	7,100	7,175
TENET HEALTHCARE CORP BD FIXED	20,446	20,500
EQT MIDSTREAM PARTNERS L	1,915	2,060
GRAPHIC PACKAGING INTERN	5,019	5,338
MURPHY OIL CORP	4,179	4,071
OCCIDENTAL PETRLM COR	3,760	3,850
HOWMET AEROSPACE INC	14,703	16,512
AECOM	5,104	5,576
OVINTIV EXPLRTN INC	3,022	3,220
BALL CORP	4,938	5,325
SPRINT CORP	18,177	19,683
CINEMARK USA INC	10,124	9,800
CROWN AMER/CAP CORP IV	7,042	7,386
L BRANDS INC	18,619	19,395
CARPENTER TECHNOLOGY	2,007	2,094
AVIENT CORP	11,128	11,798
ACADIA HEALTHCARE CO INC	6,110	6,015
EMC CORP	19,195	20,959
COML METALS CO	1,918	2,105
ADT SEC CORP	18,160	20,257
FORD MTR CO	14,549	16,914
VERISIGN INC	5,042	5,044

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Name of Stock	End of Year Book Value	End of Year Fair Market Value
MASCO CORP	44,159	63,005
KONINKLIJKE PHILIPS NVR- NY	37,319	43,336
JPMORGAN CHASE & CO	23,473	40,789
HONEYWELL INTERNATIONAL INC	19,104	40,626
EXPEDITORS INTL WASH INC	9,708	23,587
EMERSON ELECTRIC CO	8,683	14,868
EATON CORP PLC	29,962	38,685
MICRON TECHNOLOGY INC	20,390	30,448
DOLLAR TREE INC	43,587	50,994
P COMCAST CORP-CLASS A	49,021	57,745
CHUBB LTD	39,308	43,867
BOOKING HOLDINGS INC	37,974	46,773
BERKSHIRE HATHAWAY INC-CL B.	36,155	75,126
DOLLAR GENERAL CORP	18,393	52,996
NESTLE SA-SPONS ADR	16,125	24,267
NORTHERN TRUST CORP	30,244	31,016
OMNICOM GROUP	33,580	28,378
WELLS FARGO & COMPANY	275,000	286,880
BANK OF AMERICA CORP	241,197	257,468
UNITEDHEALTH GROUP INC	13,825	44,186
UNILEVER PLC-SPONSORED ADR	33,038	41,347
TJX COMPANIES INC	20,252	39,267
SONY CORP-SPONSORED ADR	35,601	54,493
SMITH & NEPHEW PLC -SPON ADR	28,527	31,375
SCHWAB (CHARLES) CORP	30,870	41,902
SCHLUMBERGER LTD	41,374	16,263
QUEST DIAGNOSTICS INC	42,508	49,694
PROGRESSIVE CORP	21,731	28,181
PPG INDUSTRIES INC	24,243	34,613
PEPSICO INC	18,534	26,694
PACCAR INC	19,831	31,492
ISHARES CORE MSCI EMERGING	480,567	545,208
ACCENTURE PLC-CL A	6,855	22,986
ISHARES MSCI ALL COUNTRY ASI	280,538	435,505
MATTHEWS PACIFIC TIGER-INST	370,570	657,051
HARTFORD CORE EQUITY	56,609	74,930
ISHARES S&P 100 ETF	19,343	22,313
SCHWAB US DVD EQUITY ETF	17,561	17,574
VANGUARD DIVIDEND APPREC	36,543	42,492
SPDR EURO STOXX 50 ETF	26,898	29,997
MATTHEWS ASIAN GR & INC	30,698	36,699
COHEN & STEER PR SEC & INC-F	110,833	124,892
NUVEEN PREFERRED SECURIT	34,087	34,641
ISHARES CORE S&P 500 ETF	2,118,095	5,558,024
BROWN ADV SUSTAIN GRW-INST	37,715	41,215
ISHARES RUSSELL 1000 GROWTH	352,655	1,629,865
ISHARES RUSSELL 1000 VALUE INDEX	190,288	531,196
JPMORGAN BETABUILDERS EUROPE ETF	1,050,114	1,227,379
ISHARES MSCI EAFE ETF	941,320	1,130,150
DODGE & COX INTL STOCK FD	1,500,000	1,902,300
JPMORGAN BETABUILDERS JAPAN ETF	340,530	393,764
SPDR S&P 500 ETF TRUST	1,779,158	3,058,712
JPM US L/C CORE PL FD - USD - R6	1,661,519	1,863,211

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
ROSE GROVE OFFSHORE FUND I, LTD.	AT COST	500,000	684,220
PIMCO MTGE OPPORTUNITIES	AT COST	97,875	98,452
FIDELITY SECS FD	AT COST	25,950	24,264
BLOOM TREE OFFSHORE FUND, LTD.	AT COST	16,537	17,940
ETON PARK OVERSEAS FUND, LTD.	AT COST	362	570
HPS MEZZANINE PRIVATE INVESTORS	FMV	680,591	650,273
CERBERUS VI PRIVATE INVESTORS	FMV	558,741	535,028
HIGHBRIDGE MEZZANINE PARTNERS, L.P	FMV	103,591	102,245
HPS MEZZANINE PRIVATE INVESTORS	FMV	255,813	247,175
INDIA PROPERTY FUND, LLC	FMV	252,740	35,700
PEG CHINA PRIVATE INVESTORS OFFSHORE	FMV	122,440	86,926
RS GLOBAL ENERGY AND POWER PRIVATE	FMV	466,799	349,598
BENEFIT STREET PARTNERS IV	FMV	344,873	335,427
PIMCO DYNAMIC BOND	AT COST	62,868	62,614

- TIN:

TY 2020 LegalFeesSchedule

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES	821	411		410

- TIN:

TY 2020 OtherAssetsSchedule

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
DIVIDENDS & INT RECEIVABLE	43,146	42,588	42,588

- TIN:

TY 2020 OtherExpensesSchedule

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
MN ANNUAL FEE	25	0		25
BANK FEE	4	0		4

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
INVESTMENT PARTNERSHIPS	49,846	0	49,846

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Description	Amount
COST BASIS ADJUSTMENT - JPM	273,332

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
JP MORGAN INVESTMENT FEES	58,409	58,409		0
MANAGEMENT FEES	32,500	35,200		0

- TIN:

TY 2020 TaxesSchedule

Name:

EDWARD J PHILLIPS FAMILY FOUNDATION

EIN:

20-2041201

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES PAID	6,729	6,729		0
FEDERAL EXCISE TAXES	23,159	0		0