If hydrogen ions (H+, as found in an acid) were added to the pink solution, the equilibrium would switch, and the solution would be colorless. Adding hydroxide ions (OH-, as found in bases) will change the phenolphthalein into its ion and turn the solution pink.
Chemical formula: C20H14O4
Solubility in water: 400 mg/L
GHS precautionary statements: P201, P281, P308+313