Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
EDWARD J PHILLIPS FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)18332 MINNETONKA BLVD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WAYZATA, MN55391
A Employer identification number

20-2041201
B Telephone number (see instructions)

(612) 455-8101
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$34,833,891J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I 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 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 250,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 54,759 54,759  
4 Dividends and interest from securities... 479,750 477,187  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,588,688
b Gross sales price for all assets on line 6a 10,535,076
7 Capital gain net income (from Part IV, line 2)... 1,588,688
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)....... Click to see attachment 65,416 0  
12 Total. Add lines 1 through 11........ 2,438,613 2,120,634  
Operating and Administrative Expenses 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).........        
b Accounting fees (attach schedule)....... Click to see attachment 6,100 4,575   1,525
c Other professional fees (attach schedule).... Click to see attachment 196,922 196,922   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 20,041 430   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 25 0   25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 223,088 201,927   1,550
25 Contributions, gifts, grants paid....... 1,378,000 1,378,000
26 Total expenses and disbursements. Add lines 24 and 25 1,601,088 201,927   1,379,550
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 837,525
b Net investment income (if negative, enter -0-) 1,918,707
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 430,356 3,327,507 3,327,507
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet  
Less: allowance for doubtful accounts bullet        
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)....... 12,786,212 Click to see attachment12,665,071 23,496,186
c Investments—corporate bonds (attach schedule)....... 6,417,409 Click to see attachment5,081,239 5,229,871
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,489,180 Click to see attachment3,091,841 2,780,319
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment42,588 Click to see attachment8 Click to see attachment8
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 23,165,745 24,165,666 34,833,891
Liabilities 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 bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
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 bullet
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 23,165,745 24,165,666
29 Total net assets or fund balances (see instructions)..... 23,165,745 24,165,666
30 Total liabilities and net assets/fund balances (see instructions). 23,165,745 24,165,666
Part III
Analysis of Changes in Net Assets or Fund Balances
1
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) ...............
1
23,165,745
2
Enter amount from Part I, line 27a .....................
2
837,525
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
162,396
4
Add lines 1, 2, and 3 ..........................
4
24,165,666
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
24,165,666
Form 990-PF (2021)
Form 990-PF (2021)
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 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 9,904,526   8,946,388 958,138
b 630,550     630,550
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       958,138
b       630,550
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,588,688
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 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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 26,670
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 26,670
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 26,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 18,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 44,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 147
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 17,183
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet17,183 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
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.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
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
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
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....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
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?................
    6
    Yes
     
    7
    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 XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMN
    b
    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 .
    8b
    Yes
     
    9
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    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 .............
    11
     
    No
    12
    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.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletTYLER J PHILLIPS Telephone no.bullet (612) 362-7506

    Located atbullet18332 MINNETONKA BLVDWAYZATAMN ZIP+4bullet55391
    15
    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
    15
     
    16 At any time during calendar year 2021, 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 VI-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
    No
    1a
    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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    b
    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 ..........
    1b
     
     
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    No
    2
    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)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    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.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    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 ........
    5b
     
     
    c
    .........bullet
    d
    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? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    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? .........................
    8
     
    No
    Part VII
    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
    18332 MINNETONKA BLVD
    WAYZATA,MN55391
    JAY J PHILLIPS SECRETARY
    2.00     		0 0 0
    18332 MINNETONKA BLVD
    WAYZATA,MN55391
    HUTTON PHILLIPS TREASURER
    2.00     		0 0 0
    18332 MINNETONKA BLVD
    WAYZATA,MN55391
    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...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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.............bullet0
    Part VIII-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 VIII-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.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    31,169,637
    b
    Average of monthly cash balances.......................
    1b
    1,956,331
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    33,125,968
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    33,125,968
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    496,890
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    32,629,078
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,631,454
    Part X
    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.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    1,631,454
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    26,670
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    26,670
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,604,784
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,604,784
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    1,604,784
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 1,604,784
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 261,782
    b From 2017...... 842,233
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........ 1,104,015
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 1,379,550
    a Applied to 2020, 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 2021 distributable amount..... 1,379,550
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 225,234 225,234
    (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 5 878,781
    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 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		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 2016 not
    applied on line 5 or line 7 (see instructions) ...     		36,548
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		842,233
    10 Analysis of line 9:
    a Excess from 2017.... 842,233
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    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
    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 (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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)
    aPaid during the year
    AVODAH FARMS
    N2843 COUNTY RD E
    STOCKHOLM,WI54769     		N/A NC GENERAL SUPPORT 8,500
    CHAD GREENWAY LEAD THE WAY FOUNDATION
    59 CAVALIER BLVD SUITE 310
    FLORENCE,KY41042     		N/A PC GENERAL SUPPORT 10,000
    CHESED SHEL EMES SOCIETY OF ST PAUL
    PO BOX 16175
    ST PAUL,MN55116     		N/A PC GENERAL SUPPORT 6,700
    CHICAGO PARKS FOUNDATION
    541 N FAIRBANKS COURT
    CHICAGO,IL60611     		N/A PC GENERAL SUPPORT 12,000
    CONSTELLATION FUND
    50 2ND AVE N
    MINNEAPOLIS,MN55401     		N/A PC GENERAL SUPPORT 100,000
    EVERY MEAL
    2723 PATTON ROAD
    ROSEVILLE,MN55113     		N/A PC GENERAL SUPPORT 18,325
    FOLDS OF HONOR - MINNESOTA INC
    372 FERNDALE ROAD SOUTH
    WAYZATA,MN55391     		N/A PC GENERAL SUPPORT 20,000
    HELPING PAWS OF MN
    630 12TH AVE S
    HOPKINS,MN55343     		N/A PC GENERAL SUPPORT 5,000
    HILLEL THE FOUNDATION FOR JEWISH CAMPUS LIFE
    1521 UNIVERSITY AVE SE
    MINNEAPOLIS,MN55414     		N/A PC GENERAL SUPPORT 50,000
    JEWISH COMMUNITY RELATIONS COUNCIL
    12 N 12TH ST STE 480
    MINNEAPOLIS,MN55403     		N/A PC GENERAL SUPPORT 1,000
    LEUKEMIA AND LYMPHOMA SOCIETY
    1711 BROADWAY STREET NE
    MINNEAPOLIS,MN55413     		N/A PC GENERAL SUPPORT 50,000
    LOAVES AND FISHES TOO
    721 KASOTA AVENUE SE
    MINNEAPOLIS,MN55414     		N/A PC GENERAL SUPPORT 18,325
    MAYO FOUNDATION
    200 FIRST STREET SW
    ROCHESTER,MN55905     		N/A PC GENERAL SUPPORT 475,000
    MULTIPLE MYELOMA RESEARCH FOUNDATION
    383 MAIN AVENUE 5TH FLOOR
    NOWALK,CT06851     		N/A PC GENERAL SUPPORT 200,000
    NORTHSIDE ACHIEVEMENT ZONE
    2123 WEST BROADWAY AVENUE STE 100
    MINNEAPOLIS,MN55411     		N/A PC GENERAL SUPPORT 200,000
    NORTHSIDE BOXING CLUB
    925 NICOLLET MALL
    MINNEAPOLIS,MN55402     		N/A PC GENERAL SUPPORT 10,000
    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 7,500
    PUBLIC JUSTICE FOUNDATION
    1620 L STREET NW SUITE 630
    WASHINGTON,DC20036     		N/A PC GENERAL SUPPORT 1,000
    REFUGEEONE
    5705 N LINCOLN AVE
    CHICAGO,IL60659     		N/A PC GENERAL SUPPORT 2,500
    SCHOOL FOR ETHICS AND GLOBAL LEADERSHIP
    1528 18TH STREET NW
    WASHINGTON,DC20036     		N/A PC GENERAL SUPPORT 32,500
    SECOND HARVEST HEARTLAND
    7101 WINNETKA AVE
    BROOKLYN PARK,MN55428     		N/A PC GENERAL SUPPORT 18,325
    SO OTHERS MAY LEARN
    5137 QUEEN AVE S
    MINNEAPOLIS,MN55410     		N/A PC GENERAL SUPPORT 5,000
    ST PAUL JEWISH FEDERATION
    790 SOUTH CLEVELAND AVENUE SUITE
    227
    ST PAUL,MN55116     		N/A PC GENERAL SUPPORT 1,000
    TEMPLE ISRAEL
    2324 EMERSON AVENUE SOUTH
    MINNEAPOLIS,MN55405     		N/A PC GENERAL SUPPORT 50,000
    THE PARACHUTE FOUNDATION
    6110 BLUE CIRCLE DR STE 280
    MINNETONKA,MN55343     		N/A PC GENERAL SUPPORT 7,000
    THE V FOUNDATION FOR CANCER RESEARCH
    14600 WESTON PARKWAY
    CARY,NC27513     		N/A PC GENERAL SUPPORT 20,000
    WASHBURN CENTER FOR CHILDREN
    1100 GLENWOOD AVE
    MINNEAPOLIS,MN55405     		N/A PC GENERAL SUPPORT 18,325
    WAYZATA CONSERVANCY
    294 GROVE LN E 100
    WAYZATA,MN55391     		N/A PC GENERAL SUPPORT 10,000
    WORLD RELIEF CHICAGO
    3507 W LAWRENCE AVE
    CHICAGO,IL60625     		N/A PC GENERAL SUPPORT 10,000
    Total .................................bullet 3a 1,378,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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
    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 54,759  
    4 Dividends and interest from securities ....          
    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 .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 1,588,688  
    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 2,188,613 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,188,613
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    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
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    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
    2a
    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? ...........
    b
    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.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    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






    Form 990-PF




    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
    Special Rules
    ......... 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) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    EDWARD J PHILLIPS FAMILY FOUNDATION
          		Employer identification number
    20-2041201
    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


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    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) (2021)
    Schedule B (Form 990) (2021)
    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 $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use 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 (c) Use 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 (c) Use 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 (c) Use 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) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    EDWARD J PHILLIPS FAMILY FOUNDATION
    EIN:
    20-2041201
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 6,100 4,575   1,525

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    EDWARD J PHILLIPS FAMILY FOUNDATION
    EIN:
    20-2041201
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ATP OIL & GAS 100,210 1
    BLCKRCK HI YLD BND PORT-K 26,285 27,106
    LORD ABBETT SHRT DUR INC-F3 48,494 48,964
    CENTURYTEL INC 7,710 8,060
    STARBUCKS CORP 35,114 35,116
    MONDELEZ INTL INC 35,048 35,014
    ORACLE CORP 34,582 34,465
    DTE ENERGY CO 36,016 35,951
    CITIGROUP INC 37,350 37,212
    SHELL INTL FIN BV 34,948 34,818
    BALL CORP 34,514 34,444
    EXPEDIA GRP INC 34,559 34,293
    FIFTH THIRD BANCORP 34,818 34,589
    BECTON DICKINSON & CO 11,542 11,517
    JPMORGAN CHASE & CO 35,441 35,107
    SIMON PPTY GRP LP 34,979 34,730
    CAPITAL ONE FINL CORP 34,999 34,743
    AMAZON COM INC 24,904 24,667
    NORTHROP GRUMMAN CORP 35,710 35,459
    AUTOZONE INC 35,459 35,138
    LEVEL 3 FING INC 0 18,338
    MARATHON PETROLEUM CORP 49,185 48,938
    TOLL BROS FIN CORP 10,560 10,975
    NEWFIELD EXPL CO 0 9,968
    NEWELL RUBBERMAID INC 0 48,994
    GLP CAPITAL LP / FIN II 0 8,913
    EQUINIX INC 36,094 36,253
    HUGHES SATELLITE SYS 3,191 3,289
    AMERIGAS PRTNRS LP 3,053 3,345
    NRG ENERGY INC 6,169 6,195
    ALCOA INC 35,095 35,417
    OCCIDENTAL PETE CORP 6,880 8,100
    MGM RESORTS INTL 0 13,943
    ICAHN ENTRPRS LP 11,619 11,275
    UNITED RENTALS NORTH AMER INC 0 34,320
    WEC ENERGY GRP INC 35,937 35,612
    T-MOBILE USA INC 34,751 34,732
    CIT GRP INC 0 15,632
    WASTE MGMT INC 25,719 25,648
    FISERV INC 35,866 35,847
    DOWDUPONT INC 34,656 34,768
    NETFLIX INC 0 34,873
    HCA INC 4,440 4,760
    AT&T INC 34,744 34,859
    CSX CORP 35,213 35,054
    KLA-TENCOR CORP 35,214 35,085
    AON CORP 35,219 35,055
    BOSTON PPTYS LP 34,891 35,058
    CENTENE CORP 0 34,400
    AMPHENOL CORP 35,203 35,106
    COMCAST CORP NEW 34,549 34,839
    CVS HLTH CORP 34,868 35,102
    FEDEX CORP 35,099 35,279
    FREEPORT-MCMORAN INC 0 35,310
    ALPHABET INC 35,278 35,816
    LYB INTL FIN III LLC 35,187 35,867
    MARSH & MCLENNAN COS INC 34,859 34,854
    GENL MTRS FINL CO INC 34,636 34,932
    AMERICAN HONDA FIN CORP 34,518 35,143
    LINCOLN NATL CORP IND 35,465 35,470
    REPUBLIC SVCS INC 24,831 25,088
    ENTERGY TX INC 25,164 25,327
    BAT CAP CORP 34,928 34,938
    GMAC INC 0 33,826
    JOHN HANCOCK INCOME CL I 250,000 249,240
    LORD ABBETT SHRT DUR INC-F3 500,000 497,602
    SPDR BLOOMBERG BARCLAYS SHORT TERM HIGH YIELD BOND ETF 102,150 101,813
    VANGUARD TOTAL INTL BOND INDEX ADMIRAL CL 404,476 390,321
    VANGUARD TOTAL BOND MARKET INDEX ADMIRAL CL 514,986 499,800
    VANGUARD ULTRA SHORT TERM BON ADMIRAL CL 850,000 846,203
    VANGUARD INTERMEDIATE TERM CORP BON ETF 503,864 496,266
    WESTERN ASSET CORE BOND CL IS 300,000 300,689

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    EDWARD J PHILLIPS FAMILY FOUNDATION
    EIN:
    20-2041201
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AMERICAN EXPRESS CO 74,842 69,039
    APPLE INC 74,725 87,897
    BERKSHIRE HATHAWAY INC-CL B. 36,155 96,876
    BRISTOL MYERS SQUIBB COMPANY 74,481 78,312
    BROWN ADV SUSTAIN GRW-INST 37,715 52,620
    CATERPILLAR INC 73,575 74,013
    CHEVRON CORP 74,767 76,395
    CHUBB LTD 64,378 75,004
    COCA-COLA COMPANY 74,648 77,624
    DODGE & COX INTL STOCK FD 1,500,000 2,058,576
    HARTFORD CORE EQUITY 56,609 90,357
    INTEL CORP 74,518 74,984
    INTL BUSINESS MACHINES CORP 74,046 80,864
    ISHARES CORE MSCI EAFE ETF 830,435 807,605
    ISHARES CORE MSCI EMERGING 480,567 526,050
    ISHARES CORE S&P 500 ETF 2,118,095 7,062,314
    ISHARES MSCI ALL COUNTRY ASI 280,538 401,922
    ISHARES MSCI EAFE ETF 941,320 1,218,753
    ISHARES RUSSELL 1000 GROWTH 352,655 2,065,483
    ISHARES RUSSELL 1000 VALUE INDEX 190,287 652,408
    ISHARES S&P 100 ETF 19,343 28,487
    JPM US L/C CORE PL FD - USD - R6 1,444,336 1,669,493
    JPMORGAN CHASE & CO 43,692 69,832
    JOHNSON & JOHNSON 74,215 77,837
    KINDER MORGAN INC DE 75,062 70,339
    MATTHEWS ASIAN GR & INC 30,698 32,667
    MATTHEWS PACIFIC TIGER-INST 370,570 517,733
    MEDTRONIC PLC 74,428 62,173
    NEXTERA ENERGY INC 74,404 81,597
    NORTHROP GRUMMAN CORP 75,076 79,736
    PHILIP MORRIS INTL INC 74,203 74,765
    PROCTER & GAMBLE CO 74,831 83,917
    PRUDENTIAL FINANCIAL INC 74,068 71,980
    QUALCOMM INC 75,345 83,389
    RAYTHEON TECHNOLOGIES CORP 74,877 71,086
    ROCKWELL AUTOMATION INC 74,514 76,398
    SCHWAB US DVD EQUITY ETF 22,647 28,371
    SPDR EURO STOXX 50 ETF 26,898 33,549
    SPDR S&P 500 ETF TRUST 1,779,158 3,885,648
    STANLEY BLACK & DECKER INC 74,028 75,825
    STARBUCKS CORP 75,000 75,797
    UNITEDHEALTH GROUP INC 13,825 63,270
    VANGUARD DIVIDEND APPREC 36,543 51,697
    WALGREENS BOOTS ALLIANCE 73,326 77,927
    WCM FOCUSED INTL GROWTH INSTL CL 276,407 259,389
    ZIMMER BIOMET HOLDINGS INC 73,221 66,188

    TY 2021 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 50,000 69,137
    ETON PARK OVERSEAS FUND, LTD. AT COST 169 227
    HPS MEZZANINE PRIVATE INVESTORS FMV 616,736 613,497
    CERBERUS VI PRIVATE INVESTORS FMV 646,498 576,744
    HIGHBRIDGE MEZZANINE PARTNERS, L.P FMV 114,225 117,754
    HPS MEZZANINE PRIVATE INVESTORS FMV 262,823 258,289
    INDIA PROPERTY FUND, LLC FMV 250,702 24,611
    PEG CHINA PRIVATE INVESTORS OFFSHORE FMV 85,161 98,432
    RS GLOBAL ENERGY AND POWER PRIVATE FMV 570,782 535,662
    BENEFIT STREET PARTNERS IV FMV 494,745 485,966

    TY 2021 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 42,588 8 8


    TY 2021 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


    TY 2021 OtherIncomeSchedule2
    Name:
    EDWARD J PHILLIPS FAMILY FOUNDATION
    EIN:
    20-2041201
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    INVESTMENT PARTNERSHIPS 63,556 0 63,556
    RETURN OF PRINCIPAL 1,860 0 1,860


    TY 2021 OtherIncreasesSchedule
    Name:
    EDWARD J PHILLIPS FAMILY FOUNDATION
    EIN:
    20-2041201
    Description Amount
    COST BASIS ADJUSTMENT - JPM 162,396


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    EDWARD J PHILLIPS FAMILY FOUNDATION
    EIN:
    20-2041201
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 167,028 167,028   0
    MANAGEMENT FEES 29,894 29,894   0


    TY 2021 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 430 430   0
    FEDERAL EXCISE TAXES 19,611 0   0