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Nonprofiteer
← STATE FORTY EIGHT FOUNDATION

Form 990 for tax year 2024

Filed by STATE FORTY EIGHT FOUNDATION.

Totals

Total revenue
$314,185
Total expenses
$362,033
Contributions and grants received
$336,805
Grants paid
$56,500
Program service revenue
$5,625
Investment income
$0
Other revenue
-$28,245
Total assets, end of year
$15,554
Total liabilities, end of year
$49,829
Net assets or fund balances, end of year
-$34,275
Program services expenses (Part IX)
$56,500
Management and general expenses
$305,535
Fundraising expenses
$0
Program service expenses (Part III)
$70,488

Program services were 15.6% 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

    $155,573

  • 1f · All other contributions, gifts and grants

    $181,232

  • 2a · Program service revenue: Entrepreneur Speaker Seri

    total $5,625 · related or exempt $5,625

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

    $155,573

  • 8b · Fundraising events: direct expenses

    $34,786

  • 8c · Net income from fundraising events

    total -$34,786

  • 10a · Gross sales of inventory

    $9,242

  • 10b · Cost of goods sold

    $2,701

  • 10c · Net income from sales of inventory

    total $6,541

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $56,500 · program services $56,500

  • 11a · Fees: management

    total $251,593 · management and general $251,593

  • 11b · Fees: legal

    total $6,497 · management and general $6,497

  • 11c · Fees: accounting

    total $11,887 · management and general $11,889

  • 12 · Advertising and promotion

    total $8,430 · management and general $8,430

  • 13 · Office expenses

    total $1,896 · management and general $1,896

  • 17 · Travel

    total $456 · management and general $456

  • 19 · Conferences, conventions and meetings

    total $13,988 · management and general $13,988

  • 23 · Insurance

    total $2,592 · management and general $2,592

  • 24a · Other expenses: Dues & Subcriptions

    total $5,667 · management and general $5,667

  • 24b · Other expenses: Meals

    total $1,254 · management and general $1,254

  • 24c · Other expenses: Bank Fees

    total $1,273 · management and general $1,273

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $32,060 · end of year $13,334

  • 8 · Inventories for sale or use

    beginning of year $2,220 · end of year $2,220

  • 24 · Unsecured notes and loans payable

    beginning of year $20,707 · end of year $49,829

  • 31 · Retained earnings, endowment or other funds

    beginning of year $13,573 · end of year -$34,275

Mission and programs · 2024

Mission

To drive local innovation and inspire community action through the support and empowerment of Arizona entrepreneurs and non-profits.

Activities or mission (Part I)

To drive local innovation and inspire community action through the support and empowerment of Arizona based owners and nonprofits

  • Provided Small business grants to Arizona-based businesses to fulfill our mission to support and empower Arizona based entrepreneurs By providing grant funding, we support early-stage local businesses with start up found to get their business to off the ground or to the next level. Some of our larger grants included grants to: Juntos LLC, The Pad Studio LLC, Ginger CC Design, LLC, Hard Copy Media, LLC

    Expenses $56,500 · Grants $56,500

  • Providing a four-part educational and Community building events for anyone who inspires to be an entrepreneur. Events will tackle themes and topics central to the entrepreneurs journey and aims that attendees will walk away better equipped and inspired to pursue their venture.

    Expenses $13,988 · Revenue $5,625

As filed on the 2024 return.

Listed in Part VII

  • Michael Spangenberg

    Chair of the BoardTre

    Total calculated
    $0
    Hours/week
    2
  • Nicholas Polando

    Board Member

    Total calculated
    $0
    Hours/week
    2
  • Tyler Sublette

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Tim Regan

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Noah Ruiz

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Amber Cordoba

    Board Member

    Total calculated
    $0
    Hours/week
    2
  • Kyle Jennings

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Jason Byers

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Shannon Breen

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Bernard Johnsen

    Board Member

    Total calculated
    $0
    Hours/week
    0
  • Dominic Orozco

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Alycia Elfstrom

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Sentari Minor

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Alex Guerrero

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Melody Lewis

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Brandon Michaels

    Board Member

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

  • The Pad Studio LLC

    $10,000

    2024 SFEF Grant Winner

  • Juntos LLC

    $7,500

    2024 SFEF Grant Winner

  • Ginger CC Design LLC

    $7,500

    2024 SFEF Grant Winner

  • Hard Copy Media LLC

    $7,500

    2024 SFEF Grant Winner

  • Casita Coffee LLC

    $6,500

    2023 SFEF Grant Winner

  • Reclaim Vibrance LLC

    $5,000

    2024 SFEF Grant Winner

  • Alla Herbs LLC

    $5,000

    2024 SFEF Grant Winner

  • Business Genie

    $5,000

    2024 SFEF Grant Winner

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202543189349311269

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