Michael Phelps Foundation
- Assets
- $1.7m
- Revenue
- $681.4k
- Investments
- $0.0
- Employees
- 3
- Location
- South Portland, ME
- Founding
- 12/2008
- Data as of
- 12/2021
- EIN
- 61-1571538
Organization Overview
Michael Phelps Foundation is located in South Portland, ME. The organization was established in 2008. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. As of 12/2021, Michael Phelps Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michael Phelps 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 12/2021, Michael Phelps Foundation generated $681.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.7% each year . All expenses for the organization totaled $709.7k during the year ending 12/2021. While expenses have increased by 13.7% 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.
Since 2016, Michael Phelps Foundation has awarded 52 individual grants totaling $1,525,364. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO PROMOTE HEALTHY, ACTIVE LIVES, ESPECIALLY FOR CHILDREN, PRIMARILY BY EXPANDING OPPORTUNITIES FOR PARTICIPATION IN THE SPORT OF SWIMMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MPF'S VISION IS FOR EVERYONE TO HAVE ACCESS TO WATER SAFETY EDUCATION, SUPPORT FOR HEALTHY LIVING (EMOTIONAL AND PHYSICAL), AND TOOLS TO SET GOALS AND PURSUE DREAMS. WE DEVELOP PROGRAM-DRIVEN SOLUTIONS THROUGH OUR IM AND LEVEL FIELD FUND SWIMMING PROGRAMS AND HAVE SUSTAINABLE DELIVERY THROUGH STRATEGIC PARTNERSHIPS SUCH AS THE BOYS & GIRLS CLUBS OF AMERICA, LEVEL FIELD FUND AND SPECIAL OLYMPICS INTERNATIONAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marissa Fortier Managing Director | Officer | 40 | $74,230 |
Michael Phelps President | OfficerTrustee | 5 | $0 |
Deborah Phelps Secretary | OfficerTrustee | 3 | $0 |
Lenny Krayzelburg Treasurer | OfficerTrustee | 3 | $0 |
Robert Bowman Board Member | Trustee | 3 | $0 |
Michael Lynch Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,764 |
| All other contributions, gifts, grants, and similar amounts not included above | $608,171 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $678,935 |
| Total Program Service Revenue | $0 |
| Investment income | $2,434 |
| 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 | $681,369 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $302,355 |
| 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. | $74,230 |
| Compensation of current officers, directors, key employees. | $10,934 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,424 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,769 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,372 |
| Fees for services: Accounting | $19,711 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $36,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $229 |
| Office expenses | $19,387 |
| Information technology | $2,113 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $86,675 |
| 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 | $4,822 |
| All other expenses | $14,941 |
| Total functional expenses | $709,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,373,231 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $304,500 |
| Accounts receivable, net | $46,147 |
| 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 | $8,462 |
| Net Land, buildings, and equipment | $194 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,732,534 |
| Accounts payable and accrued expenses | $27,783 |
| 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 | $30,175 |
| Total liabilities | $57,958 |
| Net assets without donor restrictions | $1,096,576 |
| Net assets with donor restrictions | $578,000 |
| 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 | $1,732,534 |
Grants Awarded
Over the last fiscal year, Michael Phelps Foundation has awarded $195,072 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Atlanta, GA PURPOSE: THE FOUNDATION DELIVERS A GRANT TO THE NATIONAL OFFICE FOR THE IMPLEMENTATION OF THE IM PROGRAM IN BOYS & GIRLS CLUBS ACROSS THE COUNTRY. THE NATIONAL OFFICE DISBURSES THE GRANT TO EACH CLUB TO HELP CLUB MEMBERS LEARN HOW TO SWIM, SET GOALS AND LIVE A HEALTHIER LIFE. | $128,500 |
South Portland, ME PURPOSE: DONATION SO ORGANIZATION CAN PROVIDE GRANTS TO COMPETITIVE SWIMMERS WITH FINANICAL NEED. | $33,333 |
Winstonsalem, NC PURPOSE: DONATION TO FOR MENTAL HEALTH PROGRAMMING. | $15,000 |
Washington, DC PURPOSE: DONATION TO SUPPORT THE IM PROGRAM WITH LOCAL SPECIAL OLYMPICS TEAMS | $6,927 |
Jacksonville, FL PURPOSE: DONATION TO SUPPORT THE RAISING RESILIENT KIDS SERIES (MENTAL HEALTH) | $6,100 |
Tustin, CA PURPOSE: DONATION TO PROVIDE SUPPORT TOWARDS THEIR WATER SAFETY PROGRAMMING AND DROWNING PREVENTION ADVOCACY. | $5,212 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Michael Phelps Foundation has recieved totaling $427,673.
| Awarding Organization | Amount |
|---|---|
Community First Foundation Arvada, CO PURPOSE: GENERAL PURPOSE | $400,000 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 1 GRANT(S) FOR VARYING PURPOSES | $10,000 |
Maloy Family Foundation WinstonSalem, NC PURPOSE: PROMOTE CHARITABLE OPERATIONS OF THE ORGANIZATION | $10,000 |
North Carolina Baptist Hospital Winstonsalem, NC PURPOSE: SUPPORTING PROGRAM PROMOTING HEALTHY & ACTIVE LIFESTYLES | $7,500 |
Dean Foundation Inc Tarrytown, NY PURPOSE: DONATION | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $73 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Michael Phelps Foundation South Portland, ME | $1,732,534 | $681,369 |
Bald Peak Community Fund Inc Melvin Village, NH | $105,189 | $267,125 |
Salem Area Special Needs Association Salem, NH | $337,730 | $0 |
Gertrude Couch Irrev Tuw Dtd 1 19 45 Fbo Et A1 Bedford, NH | $1,404,776 | $245,795 |
Skowhegan Savings Charitable Foundation Skowhegan, ME | $3,133,430 | $504,645 |
Brony Thank You Fund Incorporated Londonderry, NH | $7,761 | $0 |
Rotary Club Of Bethel Foundation Bethel, ME | $134,515 | $0 |
Waterville Rotary Club Waterville, ME | $204,812 | $0 |
Taylor Rose Foundation Weare, NH | $13,543 | $19,583 |
Phaneuf Family Foundation Manchester, NH | $64,895 | $42,420 |
Wilton Lyndeborough Womens Club Wilton, NH | $26,430 | $0 |
Pink Revolution Breast Cancer Alliance Of Nh Corporation Brookline, NH | $51,041 | $0 |