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Nonprofiteer
← ARIZONA COMMUNITY FOUNDATION

Form 990 for tax year 2022

Filed by ARIZONA COMMUNITY FOUNDATION.

Totals

Total revenue
$122,702,351
Total expenses
$97,952,708
Contributions and grants received
$94,708,451
Grants paid
$75,225,076
Program service revenue
$3,435,974
Investment income
$23,448,672
Other revenue
$1,109,254
Total assets, end of year
$1,024,663,747
Total liabilities, end of year
$178,976,448
Net assets or fund balances, end of year
$845,687,299
Program services expenses (Part IX)
$88,758,975
Management and general expenses
$6,844,517
Fundraising expenses
$2,349,216
Program service expenses (Part III)
$88,758,975

Program services were 90.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $793,079

  • 1d · Related organizations

    $1,702,733

  • 1e · Government grants (contributions)

    $4,014,862

  • 1f · All other contributions, gifts and grants

    $88,197,777

  • 1g · Noncash contributions included above

    $172,311

  • 2a · Program service revenue: ADMINISTRATIVE FEES

    total $3,435,974 · related or exempt $3,435,974

  • 3 · Investment income

    total $15,753,383 · unrelated business $701,203 · excluded $15,052,180

  • 5 · Royalties

    total $317,249 · excluded $317,249

  • 6a · Gross rents

    real property $364,792

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $364,792

  • 6d · Net rental income or loss

    total $364,792 · excluded $364,792

  • 7a · Gross sales of assets other than inventory

    securities $7,848,375

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $153,086

  • 7c · Gain or loss

    securities $7,848,375 · other assets -$153,086

  • 7d · Net gain or loss

    total $7,695,289 · related or exempt -$153,086 · excluded $7,848,375

  • 8a · Fundraising events: gross income

    $485,058

  • 8a · Fundraising events: contributions included on line 1c

    $793,079

  • 8b · Fundraising events: direct expenses

    $562,129

  • 8c · Net income from fundraising events

    total -$77,071 · excluded -$77,071

  • 9a · Gaming: gross income

    $141,078

  • 9b · Gaming: direct expenses

    $2,193

  • 9c · Net income from gaming

    total $138,885 · excluded $138,885

  • 11a · Other revenue: MISCELLANEOUS

    total $365,399 · related or exempt $365,399

  • 11e · Other revenue, total

    $365,399

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $69,856,545 · program services $69,856,545

  • 2 · Grants to domestic individuals

    total $5,205,136 · program services $5,205,136

  • 3 · Grants to foreign organizations and individuals

    total $163,395 · program services $163,395

  • 5 · Compensation of officers, directors and key employees

    total $2,834,391 · program services $585,426 · management and general $1,967,259 · fundraising $281,706

  • 7 · Other salaries and wages

    total $5,223,971 · program services $3,697,279 · management and general $530,519 · fundraising $996,173

  • 8 · Pension plan contributions

    total $241,317 · program services $181,145 · management and general $25,277 · fundraising $34,895

  • 9 · Other employee benefits

    total $420,915 · program services $245,271 · management and general $93,123 · fundraising $82,521

  • 10 · Payroll taxes

    total $500,867 · program services $270,468 · management and general $150,260 · fundraising $80,139

  • 11b · Fees: legal

    total $128,464 · program services $64,232 · management and general $64,232

  • 11c · Fees: accounting

    total $146,105 · management and general $146,105

  • 11f · Fees: investment management

    total $2,233,043 · management and general $2,233,043

  • 11g · Fees: other

    total $5,066,110 · program services $4,432,207 · management and general $426,979 · fundraising $206,924

  • 12 · Advertising and promotion

    total $408,774 · program services $220,273 · management and general $58,739 · fundraising $129,762

  • 13 · Office expenses

    total $2,391,609 · program services $2,224,807 · management and general $108,784 · fundraising $58,018

  • 14 · Information technology

    total $749,437 · program services $404,696 · management and general $224,831 · fundraising $119,910

  • 16 · Occupancy

    total $998,882 · program services $539,396 · management and general $299,665 · fundraising $159,821

  • 17 · Travel

    total $36,147 · program services $19,519 · management and general $10,844 · fundraising $5,784

  • 19 · Conferences, conventions and meetings

    total $105,441 · program services $46,258 · management and general $59,155 · fundraising $28

  • 20 · Interest

    total $20,960 · program services $20,960

  • 22 · Depreciation, depletion and amortization

    total $377,594 · program services $203,901 · management and general $113,278 · fundraising $60,415

  • 23 · Insurance

    total $122,359 · program services $66,074 · management and general $36,708 · fundraising $19,577

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $349,967 · program services $128,321 · management and general $160,055 · fundraising $61,591

  • 24b · Other expenses: SPONSORSHIPS

    total $284,782 · program services $284,782

  • 24c · Other expenses: DUES, SUBSCRIPTIONS AND

    total $144,533 · program services $78,048 · management and general $43,360 · fundraising $23,125

  • 24d · Other expenses: REAL PROPERTY EXPENSES

    total $84,800 · program services $1,448 · management and general $80,456 · fundraising $2,896

  • 24e · All other expenses

    total -$142,836 · program services -$180,612 · management and general $11,845 · fundraising $25,931

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,918,877 · end of year $5,058,653

  • 2 · Savings and temporary cash investments

    beginning of year $46,407,321 · end of year $45,931,938

  • 3 · Pledges and grants receivable

    beginning of year $20,901,526 · end of year $20,334,443

  • 4 · Accounts receivable

    beginning of year $41,201 · end of year $231

  • 7 · Other notes and loans receivable

    beginning of year $11,974,650 · end of year $9,441,909

  • 9 · Prepaid expenses and deferred charges

    beginning of year $294,495 · end of year $3,843,231

  • 10a · Land, buildings and equipment: cost or other basis

    $2,055,233

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,029,936

  • 10c · Land, buildings and equipment, net

    beginning of year $1,101,185 · end of year $1,025,297

  • 11 · Investments: publicly traded securities

    beginning of year $881,397,936 · end of year $846,316,917

  • 12 · Investments: other securities

    beginning of year $87,350,307 · end of year $92,703,396

  • 13 · Investments: program-related

    beginning of year $3,678,180

  • 15 · Other assets

    beginning of year $6,334 · end of year $7,732

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,851,898 · end of year $7,093,104

  • 18 · Grants payable

    beginning of year $20,029,091 · end of year $22,730,060

  • 19 · Deferred revenue

    beginning of year $285,299 · end of year $187,254

  • 21 · Escrow or custodial account liability

    beginning of year $138,451,760 · end of year $135,280,699

  • 23 · Secured mortgages and notes payable

    beginning of year $1,710,812 · end of year $150,000

  • 25 · Other liabilities

    beginning of year $16,162,865 · end of year $13,535,331

  • 27 · Net assets without donor restrictions

    beginning of year $861,761,692 · end of year $825,209,850

  • 28 · Net assets with donor restrictions

    beginning of year $23,818,595 · end of year $20,477,449

Mission and programs · 2022

Mission

TO LEAD, SERVE AND COLLABORATE TO MOBILIZE ENDURING PHILANTHROPY FOR A BETTER ARIZONA.(ADDITIONAL INFORMATION ON SCHEDULE O)

Activities or mission (Part I)

TO LEAD, SERVE AND COLLABORATE TO MOBILIZE ENDURING PHILANTHROPY FOR A BETTER ARIZONA.

  • IN THE TRADITION OF COMMUNITY FOUNDATIONS EVERYWHERE, EACH YEAR ACF AWARDS MILLIONS OF DOLLARS IN GRANTS/DISTRIBUTIONS TO NONPROFIT ORGANIZATIONS, GOVERNMENT AGENCIES AND EDUCATIONAL INSTITUTIONS. GRANTS COVER A WIDE RANGE OF FOCUS AREAS INCLUDING ARTS, CULTURE AND HUMANITIES; COMMUNITY, NEIGHBORHOOD AND ECONOMIC DEVELOPMENT; EDUCATION AND SCHOLARSHIPS; HEALTH AND HUMAN SERVICES; ENVIRONMENT AND SPECIES PROTECTION; LAW, JUSTICE AND PUBLIC SAFETY; AND SCIENTIFIC RESEARCH. WHILE MOST GRANTS ARE MADE IN ARIZONA TO SERVE LOCAL COMMUNITY NEEDS, GRANTS MAY BE MADE NATIONALLY AS WELL FOR THE BETTERMENT OF OUR NATION.

    Expenses $88,758,975 · Grants $75,225,076 · Revenue $3,648,287

As filed on the 2022 return.

Listed in Part VII

  • Steve Seleznow

    PRESIDENT AND CEO (THRU 2/3/23)

    Total calculated
    $711,742
    From this org
    $658,433
    From related orgs
    $0
    Other
    $53,309
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $495,838
    Bonus
    $162,595
    Other
    $0
    Deferred
    $36,600
    Nontaxable benefits
    $16,709
    Filer's total
    $711,742

  • Neil Hiller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gwen Calhoun

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charley Freericks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ann Melsheimer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jacob Moore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Richard Morrison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Javier Cardenas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tammy McLeod

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Benito Almanza

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tony Bolazina

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Bohn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lon Babby

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eve Ross

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Ameduri

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Noreen Bishop

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mi-Ai Parrish

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Essen Otu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Danny Bryant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marianne Mago

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patricia Duarte

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Don Opatrny

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leonardo Loo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Xavier Gutierrez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Armando Roman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robbin Coulon

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Leezie Kim

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Heidi Jannenga

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Rufus Glasper

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Monica Nuvamsa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mitch Menchaca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kyla Quintero

    CHIEF FINANCIAL OFFICER

    Total calculated
    $358,782
    From this org
    $329,688
    From related orgs
    $0
    Other
    $29,094
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $289,938
    Bonus
    $39,750
    Other
    $0
    Deferred
    $17,396
    Nontaxable benefits
    $11,698
    Filer's total
    $358,782

  • Anna Maria Chavez

    PRESIDENT AND CEO

    Total calculated
    $45,000
    From this org
    $45,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

  • Eric Nystrom

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $301,860
    From this org
    $263,936
    From related orgs
    $0
    Other
    $37,924
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $231,176
    Bonus
    $32,760
    Other
    $0
    Deferred
    $13,871
    Nontaxable benefits
    $24,053
    Filer's total
    $301,860

  • Kimberly Kur

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $273,638
    From this org
    $246,700
    From related orgs
    $0
    Other
    $26,938
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $216,700
    Bonus
    $30,000
    Other
    $0
    Deferred
    $26,004
    Nontaxable benefits
    $934
    Filer's total
    $273,638

  • Lisa Dancsok

    CHIEF BRAND AND IMPACT OFF

    Total calculated
    $293,286
    From this org
    $255,410
    From related orgs
    $0
    Other
    $37,876
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $223,708
    Bonus
    $31,702
    Other
    $0
    Deferred
    $13,422
    Nontaxable benefits
    $24,454
    Filer's total
    $293,286

  • Lisa Urias

    CHIEF PROGRAM & COMMUNITY

    Total calculated
    $307,639
    From this org
    $283,998
    From related orgs
    $0
    Other
    $23,641
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $248,748
    Bonus
    $35,250
    Other
    $0
    Deferred
    $11,400
    Nontaxable benefits
    $12,241
    Filer's total
    $307,639

  • Glenn Wike

    CHIEF OF STAFF/SENIOR VICE

    Total calculated
    $236,367
    From this org
    $213,937
    From related orgs
    $0
    Other
    $22,430
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $197,437
    Bonus
    $16,500
    Other
    $0
    Deferred
    $11,846
    Nontaxable benefits
    $10,584
    Filer's total
    $236,367

  • Kim Covington

    VICE PRESIDENT, COMMUNITY

    Total calculated
    $179,541
    From this org
    $158,243
    From related orgs
    $0
    Other
    $21,298
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $154,243
    Bonus
    $4,000
    Other
    $0
    Deferred
    $9,255
    Nontaxable benefits
    $12,043
    Filer's total
    $179,541

  • Lora Golke

    SENIOR DIRECTOR OF DEVELOP

    Total calculated
    $185,637
    From this org
    $153,611
    From related orgs
    $0
    Other
    $32,026
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $150,111
    Bonus
    $3,500
    Other
    $0
    Deferred
    $18,013
    Nontaxable benefits
    $14,013
    Filer's total
    $185,637

  • Jaime Dempsey

    SENIOR VICE PRESIDENT, PHI

    Total calculated
    $207,795
    From this org
    $191,153
    From related orgs
    $0
    Other
    $16,642
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $174,653
    Bonus
    $16,500
    Other
    $0
    Deferred
    $5,405
    Nontaxable benefits
    $11,237
    Filer's total
    $207,795

  • Casey Stevens

    VICE PRESIDENT, INVESTMENTS

    Total calculated
    $163,910
    From this org
    $145,479
    From related orgs
    $0
    Other
    $18,431
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $141,479
    Bonus
    $4,000
    Other
    $0
    Deferred
    $8,489
    Nontaxable benefits
    $9,942
    Filer's total
    $163,910

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE BONUSES FOR THE EXECUTIVE TEAM ARE BASED ON TEAM GOALS (50%) AND INDIVIDUAL GOALS (50%) WHICH ARE DEVELOPED TO ALIGN WITH THE OVERALL ORGANIZATIONAL GOALS. THE MAXIMUM BONUSES ARE DETERMINED DURING THE BUDGET PROCESS AND APPROVED COLLABORATIVELY BY THE FINANCE ADMINISTRATION AND BUDGET COMMITTEE AND THE COMPENSATION COMMITTEE. BONUSES ARE ONLY PAID ON THE GOALS MET, AND ARE PRO-RATED BASED ON THE GOALS THAT WERE SUCCESSFULLY ACHIEVED.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • A&C LAKESIDE INV

    EXCLUDED · INVESTMENT · AZ · 97% owned · share of assets $489,000

  • CASSIDY CHARITABLE LP

    EXCLUDED · INVESTMENT · AZ · 99% owned · share of assets $24,300

  • FTP HOLDINGS LLC

    EXCLUDED · INVESTMENT · AZ · 95% owned · share of assets $234,701

  • LIBERTY INV LLLP

    EXCLUDED · INVESTMENT · AZ · 97% owned · share of income -$78,275 · share of assets $598,644

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUST (19)

    INVESTMENT · AZ

  • CHARITABLE LEAD TRUST (2)

    INVESTMENT · AZ

Provenance

Return type
form_990
Tax year
2022
Filed
6 February 2024
IRS schema version
2022v5.0
Source object
202400439349300735

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