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Nonprofit · EIN 61-1571538

MICHAEL PHELPS FOUNDATION

Tax-exempt · LITCHFIELD PK, AZ 85340

Financials

$1.1M$1.4M2023$1.3M$1.3M2024$1.5M$1.3M2025
Revenue Expenses · by fiscal year end
Financials of MICHAEL PHELPS FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$1,530,838$1,303,881$226,957$1,679,239$25,255$1,653,984
December 31, 2024990$1,340,905$1,265,182$75,723$1,437,272$11,870$1,425,402
December 31, 2023990$1,127,489$1,415,498-$288,009$1,509,140$159,461$1,349,679
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$1,804,589
Program service revenue
$0
Investment income
$147
Net income from fundraising events
-$273,976
Other revenue
-$273,898

Expenses

Grants and similar amounts paid
$563,637
Compensation of officers, directors and key employees
$11,687
Other salaries and wages
$162,357
Salaries, compensation and benefits (total)
$197,993
Professional fundraising fees
$0
Legal fees
$17,558
Accounting fees
$56,911
Travel
$47,704
Program services (functional)
$957,995
Management and general (functional)
$182,124
Fundraising (functional)
$163,762

Balance sheet and other

Total assets, start of year
$1,437,272
Total assets, end of year
$1,679,239
Total liabilities, end of year
$25,255
Net assets, end of year
$1,653,984
Net assets without donor restrictions
$1,616,984
Net assets with donor restrictions
$37,000
Gross receipts
$1,821,814
Employees
3
Volunteers
22
Year formed
2008
State of legal domicile
DC

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensation
KAREN LINHARTEXECUTIVE DIRECTOR
Officer
40$11,687
NICOLE PHELPSPRESIDENT & CEO
Trustee or director, Officer
5$0
DEBBIE PHELPSSECRETARY
Trustee or director, Officer
1$0
LENNY KRAYZELBERGTREASURER
Trustee or director, Officer
3$0
MICHAEL LYNCHBOARD MEMBER
Trustee or director
1$0
BOB BOWMANBOARD MEMBER
Trustee or director
1$0
MIKE UNGERBOARD MEMBER
Trustee or director
1$0
KRISTIN STRUBLEBOARD MEMBER
Trustee or director
1$0
990 for the year ended December 31, 2024: 8 people
NameTitleHours / weekCompensation
MARISSA FORTIERMANAGING DIRECTOR (THRU 4/24)
Officer
40$38,422
NICOLE PHELPSPRESIDENT
Trustee or director, Officer
5$0
MICHAEL LYNCHBOARD MEMBER
Trustee or director
3$0
DEBBIE PHELPSSECRETARY
Trustee or director, Officer
3$0
LENNY KRAYZELBERGTREASURER
Trustee or director, Officer
3$0
BOB BOWMANBOARD MEMBER
Trustee or director
3$0
MIKE UNGERBOARD MEMBER
Trustee or director
3$0
KRISTIN STRUBLEBOARD MEMBER
Trustee or director
3$0
990 for the year ended December 31, 2023: 5 people
NameTitleHours / weekCompensation
MICHAEL PHELPSPRESIDENT
Trustee or director, Officer
5$0
DEBORAH PHELPSSECRETARY
Trustee or director, Officer
3$0
ROBERT BOWMANBOARD MEMBER
Trustee or director
3$0
LENNY KRAYZELBURGTREASURER
Trustee or director, Officer
3$0
MICHAEL LYNCHBOARD MEMBER
Trustee or director
3$0

Address and contacts

Address (IRS master file)
PO BOX 7, LITCHFIELD PK, AZ 85340-0007
Principal officer (990 for 2025)
NICOLE PHELPS, PO BOX 7, LITCHFIELD PARK, AZ 85340
Signed the 990
LENNY KRAYZELBURG, TREASURER
Phone
(207) 536-8375
Return prepared by
BAKER TILLY ADVISORY GROUP LP

Mission

THE MICHAEL PHELPS FOUNDATION'S (MFP) MISSION IS TO EMPOWER INDIVIDUALS TO LIVE HEALTHIER, MORE CONFIDENT LIVES BY PROVIDING WATER SAFETY, MENTAL WELLNESS, AND HEALTHY LIVING EDUCATION, EQUIPPING PEOPLE WITH THE SKILLS TO THRIVE IN AND OUT OF THE WATER.

990 for the year ended December 31, 2025

Program accomplishments

  • MPF'S VISION IS A WORLD WHERE ALL INDIVIDUALS HAVE THE CONFIDENCE, SKILLS, AND SUPPORT TO LIVE HEALTH, SAFE, AND FULFILLING LIVES, IN AND OUT OF THE WATER. WE DEVELOP PROGRAM-DRIVEN SOLUTIONS THROUGH OUR IM PROGRAM AND HAVE SUSTAINABLE DELIVERY THROUGH STRATEGIC PARTNERSHIPS SUCH AS THE BOYS & GIRLS CLUBS OF AMERICA AND SPECIAL OLYMPICS INTERNATIONAL.IN 2025, MPF FUNDED 166 LOCAL PROGRAM AWARDS THROUGH ITS STRAGETIC PARTNERS, RESULTING IN A TOTAL OF 13,800 PARTICIPANTS IN THE IM PROGRAM. IN ADDITION, MPF TRAINED 23 NEW IM CHAMPION COACHES IN SPECIAL OLYMPICS AND SUPPORTED COACH DEVELOPMENT FOR TEAMS IN 38 COUNTRIES.
    Expenses $957,995 · grants $563,637

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
61-1571538
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2008
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Human services (P12)
Assets (IRS master file)
$1,679,239
Income (IRS master file)
$1,821,814

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$1,530,838$1,303,881$1,679,239XML
990December 2024$1,340,905$1,265,182$1,437,272XML
990December 2023$1,127,489$1,415,498$1,509,140XML
990December 2022$832,791$869,679$1,690,535IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 61-1571538).

Questions about MICHAEL PHELPS FOUNDATION

What is the EIN of MICHAEL PHELPS FOUNDATION?
The employer identification number (EIN) of MICHAEL PHELPS FOUNDATION is 61-1571538.
Is MICHAEL PHELPS FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2008.
Are donations to MICHAEL PHELPS FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does MICHAEL PHELPS FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of MICHAEL PHELPS FOUNDATION due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did MICHAEL PHELPS FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of MICHAEL PHELPS FOUNDATION?
The 990 for the year ended December 31, 2025 names NICOLE PHELPS.
Who are the officers and directors of MICHAEL PHELPS FOUNDATION?
The 990 for the year ended December 31, 2025 lists 8 people; 1 received compensation from the organization, the highest $11,687 (KAREN LINHART, EXECUTIVE DIRECTOR).
How much revenue does MICHAEL PHELPS FOUNDATION have?
On its 990 for the year ended December 31, 2025 it reported revenue of $1,530,838, expenses of $1,303,881 and total assets of $1,679,239 at year end.

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