Leo Foundation
- Assets
- $437.9k
- Revenue
- $282.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 09/2007
- Data as of
- 12/2022
- EIN
- 20-4879525
Organization Overview
Leo Foundation is located in Phoenix, AZ. The organization was established in 2007. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leo Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Leo Foundation generated $282.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $345.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATIONS PRIMARY EXEMPT PURPOSE IS TO PROVIDE SCHOLARSHIPS TO TRADITIONAL FULL-TIME UNDERGRADUATE STUDENTS ENROLLED AT UNIVERSITIES AND COLLEGES IN ARIZONA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO STUDENTS ENROLLED AT UNIVERSITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Madeline Winney CEO | Officer | 40 | $50,000 |
Michele Simphoukham Treasurer | OfficerTrustee | 10 | $0 |
James Murphy President | OfficerTrustee | 1 | $0 |
Jeff Lakes President/director | OfficerTrustee | 1 | $0 |
Lori Lakes Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $272,778 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,778 |
| Total Program Service Revenue | $0 |
| Investment income | $4,017 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,476 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $282,271 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $158,549 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $72,000 |
| Fees for services: Legal | $247 |
| Fees for services: Accounting | $28,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,620 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,194 |
| Office expenses | $3,596 |
| Information technology | $5,092 |
| Royalties | $0 |
| Occupancy | $100 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $217 |
| Insurance | $0 |
| All other expenses | $10 |
| Total functional expenses | $345,655 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,812 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $99,978 |
| Investments—other securities | $0 |
| Investments—program-related | $189,156 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $437,946 |
| Accounts payable and accrued expenses | $4,461 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $39,899 |
| Total liabilities | $44,360 |
| Net assets without donor restrictions | $150,430 |
| Net assets with donor restrictions | $243,156 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $437,946 |
Grants Awarded
Over the last fiscal year, Leo Foundation has awarded $158,549 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GRAND CANYON UNIVERSITY PURPOSE: SUPPORT | $142,549 |
ARIZONA BASKETBALL COACHES ASSOCIATION PURPOSE: SUPPORT | $16,000 |