2024-04-29T09:47:27-05:00 2023-12-31 872525370 CITRIN COOPERMAN ADVISORS LLC 3998 FAIR RIDGE DR SUITE 360 FAIRFAX VA 22033 990 2023-01-01 611571538 THE MICHAEL PHELPS FOUNDATION MICH 2075368375 7 OCEAN STREET 2ND FLOOR SOUTH PORTLAND ME 04106 LENNY KRAYZELBURG TREASURER 2026378646 2024-04-25 1 LENNY KRAYZELBURG 999009999 0 ALLISON PARSONS P01519444 7032814880 2024-04-25 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z MICHAEL F PHELPS II 7 OCEAN STREET 2ND FLOOR SOUTH PORTLAND ME 04106 1413435 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 4 40 0 0 912878 1390748 0 0 8254 22687 -88341 -285946 832791 1127489 363505 644614 0 0 180637 266079 158 7000 72097 325379 497805 869679 1415498 -36888 -288009 1690535 1509140 52847 159461 1637688 1349679 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 1122357 644614 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. 1122357 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 1 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 8 0 1 4 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 686688 704060 1390748 22687 22687 0 686688 285946 -285946 -285946 1127489 0 0 -263259 632614 632614 12000 12000 83262 53694 7412 22156 142797 142797 40020 30145 6567 3308 23393 23393 31577 31577 7000 7000 91755 5440 85286 1029 269 269 27374 6110 21264 9928 720 6432 2776 110833 103216 4407 3210 197 197 9055 2600 6455 PROGRAM MATERIALS 71612 71330 282 TRAINING 38772 28084 10688 PRINTING & DESIGN 21305 18724 2581 GIFTS AND DONATIONS 17176 4869 12307 44559 14883 9365 20311 1415498 1122357 221044 72097 1613797 1440940 25000 58006 42113 9131 10000 2882 2688 494 194 1690535 1509140 52847 159461 52847 159461 X 1572688 1292679 65000 57000 1637688 1349679 1690535 1509140 -288009 0 X X 1 X 1 X 1 0 X 1228810 1200973 678935 1194877 1390748 5694343 1228810 1200973 678935 1194877 1390748 5694343 1121293 4573050 2730 2434 8254 22687 36105 37153 37153 5767601 0.79290 0.75890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2882 2688 194 194 X 1161989 34500 34500 1127489 0 1127489 1449998 34500 34500 1415498 0 1415498 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. 1 EAST ASIA AND THE PACIFIC 0 0 GRANT TO RECIPIENT LOCATED IN REGION 12000 0 0 0 0 0 0 12000 0 12000 EAST ASIA AND THE PACIFIC DONATION TO SUPPORT WATER SAFETY EFFORTS AND A COLLABORATION FOR HONG KONG JOCKEY CLUB 12000 0 1 0 0 0 0 0 0 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. PART I, LINE 3: EXPENDITURES ARE REPORTED ON AN ACCRUAL BASIS. TEE IT UP 686688 686688 285946 686688 686688 285946 285946 -285946 1 BOYS AND GIRLS CLUBS OF AMERICA 1275 PEACHTREE STREET NE ATLANTA GA 303093506 135562976 501(C)(3) 400000 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. GIRL SCOUTS OF MAINE 128 GANNETT STREET SOUTH PORTLAND ME 04106 010269802 501(C)(3) 10500 0 DONATION TO SUPPORT THE IM PROGRAM AT TWO SUMMER CAMPS LEVEL FIELD FUND 7 OCEAN STREET SOUTH PORTLAND ME 04106 010541580 501(C)(3) 20000 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) 130323 0 DONATION TO SUPPORT THE IM PROGRAM WITH LOCAL SPECIAL OLYMPICS TEAMS 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 SPECIAL OLYMPICS ARIZONA 2455 N CITRUS ROAD BUILDING 64 GOODYEAR AZ 85395 860307564 501(C)(3) 5000 0 DONATION TO SUPPORT THE IM PROGRAM WITH LOCAL SPECIAL OLYMPICS TEAMS 6 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.