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Philos Enterprises INC FY2020 filing

St Augustine, FLUnknown exempt organization EIN 47-1223811Revenue $45K in FY2020Latest return filed Sep 29, 2023

On file with the IRSSt Augustine, FL

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Philos Enterprises, INC. Is a florida charitable organization formed to provide housing opportunities as well as charitable and educational programs to the disadvantaged, elderly, and low-income families, including but not limited to, programs that promote education, community development, raising the standard of living, and child welfare.

90¢ of each $1 spent went to programs.
$38K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $753K a year · 540% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$38K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Plus $2.5M in investments, Pt X · Ln 11–13
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4K
0.1% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$45K
Spent
$680K
To programs
90%
Net assets
$2.7M
By yearFY2020–FY2023
Revenue
$45K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$45K
FY2021$349K
FY2022$76K
FY2023$87K
Expenses
$680K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$680K
FY2021$1.3M
FY2022$311K
FY2023$1.3M
Net assets
$2.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.7M
FY2021$1.8M
FY2022$1.3M
FY2023$0

From the FY2020 Form 990 (year ending June 2020) · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $610K Management & general 10% · $70K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

7 people listed on the 990; $38K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Hugh M Peters
President/Treasurer
$38,000Pt VII · Sec A
Jason Bunch
Secretary
$0Pt VII · Sec A
Mark E Collins
Board Member
$0Pt VII · Sec A
Joseph C Brown
Board Member
$0Pt VII · Sec A
Pam Wright
Board Member
$0Pt VII · Sec A
Stephen Dewey
Board Member
$0Pt VII · Sec A
Kathy Brown
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2022FY2021FY2020
Hugh M Peters$36,500$37,500$38,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Philos Enterprises INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides housing, education, and community programs for disadvantaged, elderly, and low-income families.

Questions for Philos Enterprises INC

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1 program · $610K · in their own filed words · FY2019
01

Philos enterprises, inc. Is a florida charitable organization formed to provide housing opportunities as well as charitable and educational programs to the disadvantaged, elderly, and low-income families, including but not limited to, programs that promote education, community development, raising the standard of living, and child…

$610Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 30 grants · $3.2M · 2019–2022
Mayo ClinicFY2022$400,000
Individual RecipientFY2022$221,333
Vista Village INCOH · FY2022$150,000
Village Project Africa INCIN · FY2022$102,500
Indiana Weslyan UniversityFY2022$100,000
Legacy Christian SchoolFY2022$100,000
Christian Motorcyclists AssociationFY2022$96,100
Celebrate Life International INCGA · FY2022$26,500
Liberty Youth Ranch INCFL · FY2022$20,000
TcmiaFY2022$15,100
Miles for MyelomaFY2022$3,000
Living Hope Mountain Respite INCCO · FY2022$1,500
Legacy Christian School INCIN · FY2021$185,700
Samaritans PurseNC · FY2021$24,000
Mayo ClinicMN · FY2020$600,000
Mid-America Christian University INCOK · FY2020$250,000
Village Project Africa INCIN · FY2020$175,500
Liberty Youth Ranch INCFL · FY2020$50,000
See all 30 grants →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$45K
Ln 12
Investment incomeLn 3$45K
Money outPt IX
$680K
Ln 25
Programscol B$610K
Managementcol C$70K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$205K
Total assetsLn 16$2.7M
LiabilitiesLn 26$4K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$45K
Total revenueLn 12$45K
Assets in detailPt X, end of year
CashLn 1$205K
Cash and savings togetherLn 1–2$205K
InvestmentsLn 11–13$2.5M
Total assetsLn 16$2.7M
LiabilitiesLn 26$4K
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$85K$205K
InvestmentsLn 11–13$3.2M$2.5M
Total assetsLn 16$3.3M$2.7M
LiabilitiesLn 26$4K$4K
Net assetsLn 32$3.3M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$610K$610K
Pay of current officers, directors and key staffLn 5$38K$38K
Accounting feesLn 11c$28K$28K
Office expensesLn 13$177$177
TravelLn 17$4K$4K
Total functional expensesLn 25$680K$610K$70K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 LatestFiled with the IRS Sep 29, 2023 $87K$1.3M−$1.2M$0 990 PDF
FY2022Filed with the IRS May 8, 2023 $76K$311K−$235K$1.3M 990 PDF
FY2021Filed with the IRS Jan 25, 2022 $349K$1.3M−$912K$1.8M 990 PDF
FY2020 ViewingFiled with the IRS Jan 12, 2021 $45K$680K−$635K$2.7M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $45,106 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $10,000$0
I-9 Program service revenuePrior year $3,307$0
I-10 Investment incomePrior year $96,598$45,106
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $109,905$45,106
I-13 Grants and similar amounts paidPrior year $296,200$609,545
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $36,000$38,000
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $64,329$32,297
I-18 Total expensesPrior year $396,529$679,842
I-19 Revenue less expensesPrior year −$286,624−$634,736
Part VI · Governance 6 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $45,106 across 2 lines filed
VIII-3 Investment incomeExcluded from tax $45,106$45,106
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $45,106$45,106
Part IX · Statement of functional expenses $679,842 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $609,545$609,545
IX-5 Pay of current officers, directors and key staffManagement $38,000$38,000
IX-11c Accounting feesManagement $27,925$27,925
IX-13 Office expensesManagement $177$177
IX-17 TravelManagement $4,195$4,195
IX-25 Total functional expensesPrograms $609,545 · Management $70,297 · Fundraising $0$679,842
Part X · Balance sheet $2,709,429 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $84,673$204,946
X-12 Other securitiesStart of year $3,184,758$2,504,483
X-16 Total assetsStart of year $3,269,431$2,709,429
X-17 Accounts payable and accrued expensesStart of year $3,810$3,925
X-26 Total liabilitiesStart of year $3,810$3,925
X-27 Net assets without donor restrictionsStart of year $3,265,621$2,705,504
X-32 Total net assets or fund balancesStart of year $3,265,621$2,705,504
X-33 Total liabilities and net assetsStart of year $3,269,431$2,709,429
Part XI · Reconciliation of net assets $2,705,504 net assets at year end
XI-1 Total revenue$45,106
XI-2 Total expenses$679,842
XI-3 Revenue less expenses−$634,736
XI-4 Net assets at start of year$3,265,621
XI-5 Net unrealized gains (losses) on investments$74,619
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,705,504

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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