Functions in the SND pathway, a SRP (signal recognition particle) and GET (guided entry of tail-anchored proteins) independent pathway for targeting a broad range of substrate proteins to the endoplasmic reticulum. SND functions in parallel to GET in targeting proteins with downstream hydrophobic motifs (PubMed:27905431). Involved in inorganic phosphate uptake (PubMed:8709965). Also involved in telomere length regulation and maintenance (PubMed:16552446). Interacts with ENV10/SND2. ENV10/SND2 and PHO88/SND3 form a complex with the translocon in the endoplasmic reticulum membrane. Present with 61800 molecules/cell in log phase SD medium. Belongs to the PHO88 family.