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American Opportunity Foundation FY2021 filing

Tax-deductible

Salt Lake City, UT501(c)(3)Foundations & Grantmakers EIN 20-0059842Revenue $92K in FY2021

On file with the IRS3030 S Main Street, 84115-3567 · Salt Lake City, UTTax-exempt since May 2016Publicly supported charity — 170(b)(1)(A)(vi)

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The purpose of the Foundation is to promote educational and scientific objectives by providing scholoarships and/or endowments.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $466K a year · 79% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Plus $2.0M in investments, Pt X · Ln 11–13
Looks good: 18.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$92K
-78% vs prior year
Spent
$70K
To programs
71%
Net assets
$2.1M
By yearFY2020–FY2024
Revenue
$92K
FY2021▼ -78%
Tap a bar for its year
Revenue by fiscal year
FY2020$426K
FY2021$92K
FY2022$805K
FY2023$515K
FY2024$1.1M
Expenses
$70K
FY2021▼ -26%
Tap a bar for its year
Expenses by fiscal year
FY2020$95K
FY2021$70K
FY2022$132K
FY2023$136K
FY2024$183K
Net assets
$2.1M
FY2021▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$2.1M
FY2022$2.6M
FY2023$2.9M
FY2024$4.2M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Exemption reinstated (2012-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in May 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $50K Management & general 29% · $20K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Richard M Taggart
President/Tr
$0Pt VII · Sec A
Richard P Taggart
V President/
$0Pt VII · Sec A
See American Opportunity Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides scholarships and endowments to promote educational and scientific goals.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Scholarships given to the south high alumni association to provide scholarships to worthy undergraduate candidates.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 20 grants · $373K · 2020–2024
Unitemized GrantFY2024$52,103
University of UtahUT · FY2024$35,000
Brigham Young UniversityUT · FY2024$35,000
Brigham Young UniversityUT · FY2023$36,000
University of UtahUT · FY2023$25,000
Eagle Gate CollegeFY2023$5,500
Metropolitan State University of Denver Foundation INCCO · FY2023$5,500
Utah Valley UniversityUT · FY2023$5,500
Brigham Young UniversityUT · FY2022$33,250
University of UtahUT · FY2022$25,000
Utah Valley UniversityUT · FY2022$11,000
Salt Lake Community CollegeUT · FY2022$8,364
Individual RecipientFY2022$5,500
Utah State UniversityUT · FY2022$5,500
Utah State UniversityUT · FY2021$13,250
Brigham Young UniversityUT · FY2021$11,050
Salt Lake Community CollegeUT · FY2021$10,500
Individual RecipientFY2021$5,500
See all 20 grants →

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$92K
Ln 12
Investment incomeLn 3$92K
Money outPt IX
$70K
Ln 25
Programscol B$50K
Managementcol C$20K
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$110K
Total assetsLn 16$2.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$92K
Gains on assetsLn 7$69K
Total revenueLn 12$92K
Assets in detailPt X, end of year
CashLn 1$110K
Cash and savings togetherLn 1–2$110K
InvestmentsLn 11–13$2.0M
Total assetsLn 16$2.1M
LiabilitiesLn 26$0
Net assetsLn 32$2.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$263K$110K
InvestmentsLn 11–13$1.8M$2.0M
Total assetsLn 16$2.1M$2.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.1M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$50K$50K
Management feesLn 11a$19K$19K
Other fees for servicesLn 11g$619$619
Total functional expensesLn 25$70K$50K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$183K$927K$4.2M 990 PDF
FY2023 $515K$136K$379K$2.9M 990 PDF
FY2022 $805K$132K$673K$2.6M 990 PDF
FY2021 Viewing $92K$70K$23K$2.1M 990 PDF
FY2020 $426K$95K$331K$2.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $92,488 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $360,000$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $66,088$92,488
I-11 Other revenue$0
I-12 Total revenuePrior year $426,088$92,488
I-13 Grants and similar amounts paidPrior year $60,350$49,800
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $34,662$20,112
I-18 Total expensesPrior year $95,012$69,912
I-19 Revenue less expensesPrior year $331,076$22,576
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $92,488 across 3 lines filed
VIII-3 Investment incomeRelated to mission $23,386 · Excluded from tax $9$23,395
VIII-7 Net gain or loss on sales of assetsRelated to mission $69,093$69,093
VIII-12 Total revenueRelated to mission $92,479 · Excluded from tax $9$92,488
Part IX · Statement of functional expenses $69,912 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $49,800$49,800
IX-11a Management feesManagement $19,493$19,493
IX-11g Other fees for servicesManagement $619$619
IX-25 Total functional expensesPrograms $49,800 · Management $20,112 · Fundraising $0$69,912
Part X · Balance sheet $2,102,464 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $263,398$110,273
X-11 Publicly traded securitiesStart of year $1,813,039$1,992,191
X-16 Total assetsStart of year $2,076,437$2,102,464
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,101,759$30,796
X-28 Net assets with donor restrictionsStart of year $974,678$2,071,668
X-32 Total net assets or fund balancesStart of year $2,076,437$2,102,464
X-33 Total liabilities and net assetsStart of year $2,076,437$2,102,464
Part XI · Reconciliation of net assets $2,102,464 net assets at year end
XI-1 Total revenue$92,488
XI-2 Total expenses$69,912
XI-3 Revenue less expenses$22,576
XI-4 Net assets at start of year$2,076,437
XI-5 Net unrealized gains (losses) on investments$3,451
XI-10 Net assets at end of year$2,102,464

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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