2023-10-11T10:24:47-05:00 2022-12-31 872525370 CITRIN COOPERMAN ADVISORS LLC 3998 FAIR RIDGE DR SUITE 360 FAIRFAX VA 22033 990 2022-01-01 611571538 THE MICHAEL PHELPS FOUNDATION MICH 2075368375 7 OCEAN STREET 2ND FLOOR SOUTH PORTLAND ME 04106 LENNY KRAYZELBURG TREASURER 2026378646 2023-10-11 1 LENNY KRAYZELBURG 999009999 1 ALLISON PARSONS P01519444 7032814880 2023-10-11 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MICHAEL F PHELPS II 7 OCEAN STREET 2ND FLOOR SOUTH PORTLAND ME 04106 1203131 0 X WWW.MICHAELPHELPSFOUNDATION.ORG X 2008 DC THE ORGANIZATION'S MISSION IS TO PROMOTE HEALTHY, ACTIVE LIVES, ESPECIALLY FOR CHILDREN, PRIMARILY BY EXPANDING OPPORTUNITIES FOR PARTICIPATION IN THE SPORT OF SWIMMING. 5 5 3 40 0 0 678935 912878 0 0 2434 8254 0 -88341 681369 832791 302355 363505 0 0 165423 180637 36500 158 34088 205384 325379 709662 869679 -28293 -36888 1732534 1690535 57958 52847 1674576 1637688 THE ORGANIZATION'S MISSION IS TO PROMOTE HEALTHY, ACTIVE LIVES, ESPECIALLY FOR CHILDREN, PRIMARILY BY EXPANDING OPPORTUNITIES FOR PARTICIPATION IN THE SPORT OF SWIMMING. 0 0 732224 363505 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. 732224 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 10 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AK AR CA CT FL HI IL KS KY MD MA MI MO MS NJ NM NY OR PA RI SC TN UT VA WV ME MT AZ CO DE ID IA GA LA NC ND OH OK TX VT WA WI WY IN NH MN NE NV SD X X MARISSA FORTIER 2075368375 7 OCEAN STREET 2ND FLOOR SOUTH PORTLAND ME 04106 X MICHAEL PHELPS PRESIDENT 5.00 X X 0 0 0 DEBORAH PHELPS SECRETARY 3.00 X X 0 0 0 ROBERT BOWMAN BOARD MEMBER 3.00 X 0 0 0 LENNY KRAYZELBURG TREASURER 3.00 X X 0 0 0 MICHAEL LYNCH BOARD MEMBER 3.00 X 0 0 0 0 0 0 0 0 0 0 0 400472 30175 482231 912878 8254 8254 281999 400472 370340 -88341 -88341 832791 0 0 -80087 363505 363505 78894 58333 7820 12741 82113 82113 19630 14542 3535 1553 6742 5742 1000 26695 26695 158 158 10852 10852 21158 9395 11763 3020 2680 340 102082 96308 3599 2175 6289 6289 TRAINING 46592 34494 12098 PROGRAM MATERIALS 32843 32843 PRINTING & DESIGN 20630 20423 207 MISCELLANEOUS 16798 7256 9522 20 31678 7270 8307 16101 869679 732224 103367 34088 1373231 1613797 304500 25000 46147 42113 8462 9131 3182 2688 194 494 1732534 1690535 27783 52847 30175 0 57958 52847 X 1096576 1572688 578000 65000 1674576 1637688 1732534 1690535 -36888 0 X X 1 X 1 X 1 0 X 1421096 1228810 1200973 678935 1194877 5724691 1421096 1228810 1200973 678935 1194877 5724691 1341790 4382901 2730 2434 8254 13418 37153 37153 5775262 0.75890 0.72330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3182 2688 494 494 X 1475848 109689 281999 391688 1084160 -251369 -251369 832791 1512736 109689 533368 643057 869679 0 869679 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE AND/OR STATE TAXING AUTHORITIES. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GROSS INCOME ON GOLF GALA FUNDRAISING EVENT 281,999. PART XI, LINE 4B - OTHER ADJUSTMENTS: NET LOSS ON GOLF GALA FUNDRAISING EVENT -88,341. BAD DEBT EXPENSE ON GOLF GALA FUNDRAISING EVENT -163,028. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSE ON GOLF GALA FUNDRAISING EVENT 370,340. BAD DEBT EXPENSE ON GOLF GALA FUNDRAISING EVENT 163,028. GOLF. GIVE. GALA. 682471 400472 281999 370340 682471 400472 281999 370340 370340 -88341 1 BOYS AND GIRLS CLUBS OF AMERICA 1275 PEACHTREE STREET NE ATLANTA GA 303093506 135562976 501(C)(3) 200000 0 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. LAZARUS HOUSE 214 WALNUT STREET ST CHARLES IL 60174 364187609 501(C)(3) 20000 0 DONATION TO SUPPORT PROGRAMMING. TRICITY FAMILY SERVICES 2570 FOXFIELD ROAD SUITE 101 ST CHARLES IL 60174 237310008 501(C)(3) 20000 0 DONATION TO SUPPORT PROGRAMMING. MENTAL HEALTH ASSOCIATION IN FORSYTH 1509 S HAWTHORNE RD WINSTONSALEM NC 27103 560776248 501(C)(3) 15000 0 DONATION TO FOR MENTAL HEALTH PROGRAMMING. CAL'S ANGELS 2422 W MAIN STREET UNIT 3B ST CHARLES IL 60175 208811843 501(C)(3) 10000 0 DONATION TO SUPPORT PROGRAMMING. JARRETT PAYTON FOUNDATION 1701 GOLF ROAD 3-700 ROLLING MEADOWS IL 60008 275565331 501(C)(3) 10000 0 DONATION TO SUPPORT PROGRAMMING. SOUTHWEST VALLEY FAMILY YMCA 2919 N LITCHFIELD ROAD AZ 85395 GOODYEAR AZ 85395 840434208 501(C)(3) 7500 0 IM PROGRAM GRANT LEVEL FIELD FUND 7 OCEAN STREET SOUTH PORTLAND ME 04106 010541580 501(C)(3) 5000 0 DONATION SO ORGANIZATION CAN PROVIDE GRANTS TO COMPETITIVE SWIMMERS WITH FINANICAL NEED. SPECIAL OLYMPICS 415 MICHIGAN AVENUE NORTHEAST GROUND LEVEL WASHINGTON DC 20017 520889518 501(C)(3) 5000 0 DONATION TO SUPPORT THE IM PROGRAM WITH LOCAL SPECIAL OLYMPICS TEAMS THE NEMOURS FOUNDATION 10140 CENTURION PKWY N JACKSONVILLE FL 32256 590634433 501(C)(3) 5000 0 DONATION TO SUPPORT THE RAISING RESILIENT KIDS SERIES (MENTAL HEALTH) NATIONAL DROWING PREVENTION ALLIANCE 1190 MAPLE STREET INDIANA PA 15705 201827387 501(C)(3) 5000 0 DONATION TO PROVIDE SUPPORT TOWARDS THEIR WATER SAFETY PROGRAMMING AND DROWNING PREVENTION ADVOCACY. 11 PART I, LINE 2: DONATIONS ARE MADE TO ORGANIZATIONS THAT SHARE OUR MISSION. THE FOUNDATION MAINTAINS A RELATIONSHIP AND PROVIDES ONGOING PROGRAM SUPPORT WITH THE DONEES. FORM 990, PART VI, SECTION A, LINE 2 DEBORAH PHELPS (SECRETARY) IS MICHAEL PHELPS' (PRESIDENT) MOTHER. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS DISTRIBUTED TO THE MEMBERS OF THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION MAY USE OUTSIDE ADVISORS TO REVIEW COMPENSATION ARRANGEMENTS, PARTNERSHIPS, JOINT VENTURES AND INVESTMENTS TO ENSURE THEY CONFORM TO THE FOUNDATION'S WRITTEN POLICIES. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION PAYS ITS MANAGING DIRECTOR A SALARY AND HAS A POLICY FOR DETERMINING THE COMPENSATION. THE PROCESS INCLUDES ALL OF THESE ELEMENTS: (1) REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS OF THE FOUNDATION; (2) USE OF DATA AS TO COMPARABLE COMPENSATION; AND (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. (1) REVIEW AND APPROVAL. THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS OF THE FOUNDATION, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. (2) USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDING KEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. FORM 990, PART VI, SECTION C, LINE 18 FORM 990 WILL BE POSTED ON THE GUIDESTAR WEBSITE: WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS OF THE ORGANIZATION ARE AVAILABLE UPON REQUEST AS WELL AS ON THE GUIDESTAR WEBSITE: WWW.GUIDESTAR.ORG. FORM 990, PAGE 12, PART XII, LINE 2A: THE FOUNDATION HAS AN INDEPENDENT ACCOUNTANT COMPILE QUARTERLY AND ANNUAL FINANCIAL STATEMENTS FOR THE BOARD'S REVIEW. ANOTHER INDEPENDENT ACCOUNTANT AUDITS THE FINANCIAL STATEMENTS. FORM 990, PAGE 12, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE PRIOR YEAR.