Michael Phelps Foundation in Portland, Maine (ME)

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Michael Phelps Foundation
Employer Identification Number (EIN)611571538
Name of OrganizationMichael Phelps Foundation
Address2 Market St Fl 4, Portland, ME 04101-5118
SubsectionCharitable Organization
Ruling Date12/2008
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$350,057
Amount of Income$382,103
Form 990 Revenue Amount$302,321
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Fund Raising and/or Fund Distribution


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Amount of income in 2011: $382,103 (it was $522,839 in 2010)
Michael Phelps Foundation: 

 $382,103
Other organizations performing similar types of work: 

 $65,220

Assets in 2011: $350,057 (it was $519,405 in 2010)
This organization: 

 $350,057
Other organizations performing similar types of work: 

 $38,200

Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$302,321
Contributions, Gifts, Grants and Other Similar Amounts$265,562
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$20
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$36,739
Gross income from fundraising events$116,521
Less: direct expenses$79,782
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$476,557
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$51,648
Payroll taxes$2,266
Professional fundraising services$53,693
Other$368,950
Balance Sheet (for 2011)
Total assets$350,057
Total liabilities$5,051
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$5,051
Total net assets or fund balances$345,006
Retained earnings, endowment, accumulated income, or other funds$345,006
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$1,387,547
Gifts, grants, contributions, and membership fees received$1,386,901
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$646
Gross receipts from related activities, etc.$0
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2The Shafeek Nader Trust Supporting Fund Inc1530 P St Nw, Washington, DC 20005-1910DC2001-05$1,216,074
3Wellstone Action Fund2446 Univ Ave W Ste 170, Saint Paul, MN 55114-1795MN2003-11$719,170
4One Hope United, Kids Hope United215 N Milwaukee Ave, Lake Villa, IL 60046-8529IL2003-08$197,668
5Womens Shelter Endowment TrPo Box 125, San Luis Obispo, CA 93406CA2001-09$154,581
6Yorba Linda Sunrise Rotary Club FoundationPO BOX 924, Yorba Linda, CA 92885-0924CA2006-08$121,196
7Caresource Charitable Association1624 E 4500 S, Salt Lake Cty, UT 84117-4212UT2003-01$20,248
8Marguerite Casey Foundation1425 4th Ave Ste 900, Seattle, WA 98101-2222WA2000-09$251,502,766
9Duffield Family Foundation2223 Santa Clara Ave Ste B, Alameda, CA 94501-4471CA2000-10$130,682,079
10Bp Foundation Inc501 Westlake Park Blvd 24th Floor, Houston, TX 77079-2604TX1953-07$109,780,787
11Early Learning Coalition Of Broward County Inc6301 Nw 5th Way Ste 3400, Ft Lauderdale, FL 33309-6183FL2001-07$90,529,461
12Goodwill Community Foundation Inc4808 Chin Page Rd, Durham, NC 27703-8476NC1997-12$32,814,418
13Illinois Childrens Healthcare Foundation, The Northern Trust Company1200 Jorie Blvd Ste 301, Oak Brook, IL 60523-2299IL2003-06$20,022,986
14Arnold And Margaret Peterson Family Foundation534 S Bay Front, Balboa Island, CA 92662-1039CA2009-03$8,849,494
15Children First-Americas Charities14150 Newbrook Dr Ste 110, Chantilly, VA 20151-2274VA2003-10$5,782,496
16Burger King Mclamore Foundation Inc5505 Blue Lagoon Dr, Miami, FL 33126-2029FL2006-02$5,357,627
17Meredith And Whitney George Family Foundation Inc24 Three Wells Rd, Darien, CT 06820-2606CT2005-09$4,615,522
18Not For Sale FundPO BOX 1000, Half Moon Bay, CA 94019-1000CA2007-01$4,535,554
19Marshall & Margherite Mccomb Founda Tion, Livadary Paul J Ttee1801 Ave Of Stars Ste 1000, Los Angeles, CA 90067-5804CA2005-02$4,130,547
20Edinburgh Usa Pro-Am Foundation5740 142nd Ave Nw, Ramsey, MN 55303-4662MN2002-02$3,981,349
21Rinkle Family FoundationC/O 100 West Road Suite 202, Towson, MD 21204MD2002-01$3,046,475
22Joy To The World Foundation4570 Hilton Pkwy Ste 203, Colorado Spgs, CO 80907-3566CO2003-08$2,970,975
23Harbor Properties241 High St, New Wilmngtn, PA 16142-1116PA2008-10$2,913,830
24Fels Family Foundation370 Main St Ste 800, Worcester, MA 01608-1741MA2004-03$2,887,912
25Pfk Family Foundation50 S Lasalle St, Chicago, IL 60603-1008IL2003-03$2,467,140
26Leonard And Marjorie Williams Family Foundation IncPO BOX 536845, Orlando, FL 32853-6845FL2001-06$2,442,097
27Bethany Childrens Home Inc1863 Bethany Rd, Womelsdorf, PA 19567-9214PA1990-08$2,405,108
28Choices-People Supporting People119 Jari Drive, Johnstown, PA 15904-6953PA2006-12$2,354,021
29Michael Phelps Foundation2 Market St Fl 4, Portland, ME 04101-5118ME2008-12$382,103
30Bangor Y Charities127 Hammond St, Bangor, ME 04401-4701ME2006-06$205,482
Number of organizations performing similar types of work
Alaska4
Alabama24
Arkansas7
Arizona42
California218
Colorado37
Connecticut25
District of Columbia7
Delaware4
Florida146
Georgia43
Hawaii9
Iowa7
Idaho12
Illinois60
Indiana24
Kansas10
Kentucky17
Louisiana26
Massachusetts53
Maryland33
Maine9
Michigan67
Minnesota22
Missouri21
Mississippi6
Montana7
North Carolina65
North Dakota2
Nebraska7
New Hampshire15
New Jersey62
New Mexico6
Nevada20
New York130
Ohio68
Oklahoma15
Oregon40
Pennsylvania83
Rhode Island14
South Carolina19
South Dakota5
Tennessee24
Texas138
Utah21
Virginia47
Vermont4
Washington39
Wisconsin25
West Virginia3
Wyoming3
International1
Total1,796

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