PC Phillips, who was 34, leaves behind his wife Jen, and their daughters Abigail, seven, and Sophie, three.
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PC Phillips had served Merseyside Police for nearly a decade.
“Every donation received from any source will be transferred to Dave’s memorial fund”.
“Dave’s family will decide how the fund will be spent and the fund will be independently audited by Kinsella Clarke Chartered Accountants”.
Federation chairman Peter Singleton said: “We are all devastated by the loss of one of our members, Constable 6554 David Phillips”.
“Large numbers have contacted us wishing to make a donation to support Dave’s family”, it reads.
Widow Jennifer Phillips, 28, was flanked by her husband’s sister, Hannah Whieldon, 31, who said that just hours before his final fatal shift began on Sunday he was with his wife filming their daughter Sophie, “beaming” with smiles, singing and dancing.
Hundreds of people turned out to pay tribute to PC Phillips during a candlelit vigil in New Brighton on Wednesday evening.
“From the outset at the police station, Mr Williams has accepted that his actions and his driving caused the death of Pc Phillips”.
Police officers, paramedics and firefighters were among those paying their respects to the father-of-two. He died in hospital a short time later.
Teenager Clayton Williams has appeared in court in connection with the death of PC Dave Phillips.
The teenager was yesterday pictured today smiling and holding up his handcuffs for the camera as he left court in a prison van.
Williams spoke only to confirm his name and date of birth during the two-minute hearing.
A second man, 30-year-old Phillip Stuart from Oxton, has been charged with aggravated unauthorised taking of a motor vehicle and burglary.
The 18-year-old from Wallasey, who appeared in court via video link, added that it wasn’t his intention to hurt or kill him.
Williams’s co-accused Philip Mark Stuart, 30, of Prenton, Wirral, is accused of burglary and aggravated vehicle-taking and death caused by an accident, after allegedly being carried in the Mitsubishi.
PC Phillips was responding to a call regarding a stolen vehicle when a red Mitsubishi drove on to the central reservation and struck him.
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It was later found dumped in a cul-de-sac a quarter of a mile away in Corbyn Street, Wallasey.
