Overview
What is The Michael Phelps Foundation?
The Michael Phelps Foundation, based in South Portland, Maine, is a dedicated nonprofit organization with a vision to provide water safety education, promote healthy living, and offer resources for goal setting and dream pursuit. Their mission primarily focuses on expanding children's opportunities in swimming, aiming to promote active, healthy lifestyles. They achieve this through program-driven solutions like their IM and Level Field Swimming programs, which are supported by strategic partnerships with organizations such as Boys & Girls Clubs of America, Level Field Fund, and Special Olympics International. The foundation has a modest workforce of three individuals.
Official website here: www.michaelphelpsfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The Michael Phelps Foundation has received a high rating of 97%, indicating strong performance in several key areas of nonprofit management. Its Accountability & Finance Score of 96 suggests effective financial practices, while the perfect scores in Culture & Community, Leadership & Adaptability highlight a robust organizational ethos and operational integrity. The foundation has a solid program expense ratio of 81.51%, demonstrating its commitment to utilizing funds for its mission-driven programs.
The organization boasts an independent board comprised entirely of five members, enhancing its governance transparency and effectiveness. The foundation has implemented comprehensive policies for conflict of interest, whistleblower protection, and document retention, all scoring perfectly. Additionally, the foundation's dedication to feedback collection and usage reflects a commitment to stakeholder engagement and continuous improvement.
While the foundation exhibits strong financial health with a low liabilities to assets ratio of 10.56%, it's crucial to maintain vigilance in ensuring that this level of performance is sustained over time. Overall, the Michael Phelps Foundation stands out as a well-managed nonprofit with a clear focus on its mission and community impact.
This AI summary has been generated from information found on Charity Navigator.
Is The Michael Phelps Foundation legitimate?
The Michael Phelps Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Michael Phelps Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $78,894
Professional Fundraising Fees: $158
Other Salaries and Wages: $82,113
For more financial information, click here
Official website here: www.michaelphelpsfoundation.org
What is the mission statement of The Michael Phelps Foundation?
The Michael Phelps Foundation's mission is focused on promoting healthy and active lifestyles, particularly among children. They achieve this primarily by expanding access to swimming opportunities. The organization's vision extends beyond water safety education to encompass support for overall health, including emotional and physical well-being. Additionally, they provide tools to help individuals set and pursue their goals. The foundation develops program-based solutions through their IM and Level Field Fund Swimming programs, and they strengthen their delivery through strategic partnerships with organizations like Boys & Girls Clubs of America, Level Field Fund, and Special Olympics International.
Official website here: www.michaelphelpsfoundation.org
Who is the CEO of The Michael Phelps Foundation?
Michael F Phelps Ii is the Principal Officer of The Michael Phelps Foundation.
Official website here: www.michaelphelpsfoundation.org
What is the revenue of The Michael Phelps Foundation?
The Michael Phelps Foundation's revenue in 2022 was $832,791.
Official website here: www.michaelphelpsfoundation.org
Who are the executives of The Michael Phelps Foundation and what are their salaries?
The average compensation at The Michael Phelps Foundation during 2022 was $53,669. There are 3 employees and 40 volunteers at The Michael Phelps Foundation.
Here are 5 key members and their salaries:
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Official website here: www.michaelphelpsfoundation.org
Where can I find the form 990 for The Michael Phelps Foundation?
The Michael Phelps Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.michaelphelpsfoundation.org
Learn more at the official website: www.michaelphelpsfoundation.org
Mission Statement of The Michael Phelps Foundation
The Michael Phelps Foundation, a nonprofit organization, is devoted to championing the promotion of healthy, active lifestyles, particularly for children. Its primary strategy involves expanding opportunities for participation in swimming as a means to achieve this goal. The organization's mission is multifaceted, aiming to provide water safety education, support for healthy living, both emotionally and physically, and tools to help individuals set goals and pursue their dreams. The Michael Phelps Foundation accomplishes this through program-driven solutions, such as its IM and Level Field Fund Swimming Programs. These initiatives are supported by strategic partnerships with esteemed organizations like the Boys & Girls Clubs of America, Level Field Fund, and Special Olympics International, ensuring sustainable delivery of these programs.
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Impact
July, 2024
The Michael Phelps Foundation has made a significant impact by promoting healthy, active lives, especially for children. Their mission focuses on expanding opportunities for participation in the sport of swimming, with a vision for everyone to have access to water safety education, support for healthy living (emotional and physical), and tools to set goals and pursue dreams. The foundation develops program-driven solutions through initiatives like the IM and Level Field Fund swimming programs, ensuring sustainable delivery through strategic partnerships with organizations such as the Boys & Girls Clubs of America, Level Field Fund, and Special Olympics International. Through these efforts, the Michael Phelps Foundation has positively influenced the lives of many individuals, particularly children, by providing them with essential life skills and resources for a healthier future.
This information is meant to be a general summary of The Michael Phelps Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $8,254
- Gross Receipts: $1,203,131
Assets and Liabilities:
- Total Assets: $1,690,535
- Total Liabilities: $52,847
- Net Assets: $1,637,688
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Organization Details
Founding Year
2008
Phone
(207) 536-8375Principal Officer
Michael F Phelps Ii
Main Address
7 OCEAN STREET 2ND FLOOR, SOUTH PORTLAND, ME, 04106
NTEE Category
Code: P12 - Human services
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