Corporate Tax Foundation
- Assets
- $5.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 12/2011
- Data as of
- 06/2022
- EIN
- 27-4544039
Organization Overview
Corporate Tax Foundation is located in Phoenix, AZ. The organization was established in 2011. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Corporate Tax 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 06/2022, Corporate Tax Foundation generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.2m during the year ending 06/2022. While expenses have increased by 0.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO PROVIDE SCHOLARSHIPS AND GRANTS FOR PRIVATE SCHOOL TUITION TO STUDENTS (CON. ON SCH O)ATTENDING ONE OF THE SCHOOLS THAT IS A MEMBER OF THE FOUNDATION FOR CORPORATE TAX CREDIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SCHOLARSHIPS AND GRANTS FOR PRIVATE SCHOOL TUITION TO 160 STUDENTS EACH OF WHOM WILL, OR HAVE, ATTENDED ONE OF THE SCHOOLS THAT IS A MEMBER OF THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Waage President | OfficerTrustee | 3 | $0 |
Andrew Klemmer Secretary/treasurer | OfficerTrustee | 3 | $0 |
Ben Sullivan Vice President | OfficerTrustee | 3 | $0 |
Taylor Nelson Director | Trustee | 3 | $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 | $1,211,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,211,500 |
| Total Program Service Revenue | $0 |
| Investment income | $2,637 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $1,214,137 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,183,825 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $484 |
| Advertising and promotion | $0 |
| Office expenses | $64 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $860 |
| Total functional expenses | $1,197,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,528 |
| Savings and temporary cash investments | $5,768,966 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,866,494 |
| Accounts payable and accrued expenses | $4,670 |
| Grants payable | $4,176,100 |
| 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 | $0 |
| Total liabilities | $4,180,770 |
| Net assets without donor restrictions | $1,685,724 |
| Net assets with donor restrictions | $0 |
| 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 | $5,866,494 |
Grants Awarded
Over the last fiscal year, Corporate Tax Foundation has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALL SAINTS' EPISCOPAL CHURCHDAY SCHOOL PURPOSE: STUDENT SUPPORT | $20,000 |
PHOENIX COUNTRY DAY SCHOOL PURPOSE: STUDENT SUPPORT | $20,000 |