Packard Humanities Institute (PHI) is an independent non-profit foundation located in Los Altos, California. Established in 1987, the foundation is dedicated to archaeology, music, film preservation, historic conservation, and early education. The assets of the foundation are governed and managed by the board of directors.The Packard Humanities Institute's investment portfolio is valued at $562.96 million, with investments in domestic and international equity, fixed income, private equity, and cash.