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Nonprofiteer
← MICHAEL PHELPS FOUNDATION

Form 990 for tax year 2025

Filed by MICHAEL PHELPS FOUNDATION.

Totals

Total revenue
$1,530,838
Total expenses
$1,303,881
Contributions and grants received
$1,804,589
Grants paid
$563,637
Program service revenue
$0
Investment income
$147
Other revenue
-$273,898
Total assets, end of year
$1,679,239
Total liabilities, end of year
$25,255
Net assets or fund balances, end of year
$1,653,984
Program services expenses (Part IX)
$957,995
Management and general expenses
$182,124
Fundraising expenses
$163,762
Program service expenses (Part III)
$957,995

Program services were 73.5% 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

    $1,059,647

  • 1f · All other contributions, gifts and grants

    $744,942

  • 1g · Noncash contributions included above

    $199,100

  • 3 · Investment income

    total $147 · excluded $147

  • 8a · Fundraising events: gross income

    $17,000

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

    $1,059,647

  • 8b · Fundraising events: direct expenses

    $290,976

  • 8c · Net income from fundraising events

    total -$273,976 · excluded -$273,976

  • 11a · Other revenue: OTHER REVENUE

    total $78 · excluded $78

  • 11e · Other revenue, total

    $78

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $563,637 · program services $563,637

  • 5 · Compensation of officers, directors and key employees

    total $11,687 · program services $5,843 · management and general $2,922 · fundraising $2,922

  • 7 · Other salaries and wages

    total $162,357 · program services $111,919 · management and general $35,563 · fundraising $14,875

  • 8 · Pension plan contributions

    total $6,415 · program services $4,013 · management and general $1,295 · fundraising $1,107

  • 9 · Other employee benefits

    total $4,919 · management and general $4,919

  • 10 · Payroll taxes

    total $12,615 · program services $8,352 · management and general $3,156 · fundraising $1,107

  • 11b · Fees: legal

    total $17,558 · program services $2,012 · management and general $15,546

  • 11c · Fees: accounting

    total $56,911 · management and general $56,911

  • 11g · Fees: other

    total $66,390 · program services $19,790 · management and general $46,600

  • 13 · Office expenses

    total $9,402 · program services $5,850 · management and general $3,552

  • 14 · Information technology

    total $4,721 · program services $2,502 · management and general $1,874 · fundraising $345

  • 17 · Travel

    total $47,704 · program services $47,381 · management and general $161 · fundraising $162

  • 23 · Insurance

    total $7,763 · program services $444 · management and general $7,319

  • 24a · Other expenses: DONATED AUCTION SUPPLIE

    total $128,000 · fundraising $128,000

  • 24b · Other expenses: DONATED PROGRAM SUPPLIE

    total $71,100 · program services $71,100

  • 24c · Other expenses: PROGRAM MATERIALS

    total $59,337 · program services $59,337

  • 24d · Other expenses: TRAINING

    total $35,617 · program services $35,453 · management and general $164

  • 24e · All other expenses

    total $37,748 · program services $20,362 · management and general $2,142 · fundraising $15,244

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $585,912 · end of year $919,642

  • 2 · Savings and temporary cash investments

    beginning of year $513,500 · end of year $704,471

  • 3 · Pledges and grants receivable

    beginning of year $328,500 · end of year $37,000

  • 4 · Accounts receivable

    end of year $4,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,166 · end of year $14,126

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

    $2,688

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

    $2,688

  • 10c · Land, buildings and equipment, net

    beginning of year $194 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,870 · end of year $25,255

  • 27 · Net assets without donor restrictions

    beginning of year $1,096,902 · end of year $1,616,984

  • 28 · Net assets with donor restrictions

    beginning of year $328,500 · end of year $37,000

Mission and programs · 2025

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.

Activities or mission (Part I)

THE FOUNDATION PROMOTES THE IMPORTANCE OF WATER SAFETY AND MENTAL (CONTINUED ON SCHEDULE O) WELLNESS THROUGH ITS COMPREHENSIVE IM PROGRAM. THE PROGRAM INTEGRATES WATER SAFETY, SWIMMING, MENTAL WELLNESS, HEALTHY LIVING, AND GOAL SETTING, EQUIPPING INDIVIDUALS WITH THE SKILLS AND CONFIDENCE TO THRIVE IN AND OUT OF THE WATER.

  • 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

As filed on the 2025 return.

Listed in Part VII

  • Nicole Phelps

    PRESIDENT & CEO

    Total calculated
    $0
    Hours/week
    5

  • Debbie Phelps

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lenny Krayzelberg

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Michael Lynch

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bob Bowman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mike Unger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kristin Struble

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Karen Linhart

    EXECUTIVE DIRECTOR

    Total calculated
    $11,687
    From this org
    $11,687
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

Provenance

Return type
form_990
Tax year
2025
Filed
24 August 2026
IRS schema version
2025v4.2
Source object
202612389349301651

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