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Corporate Tax Foundation

Tax-deductible

Phoenix, AZ501(c)(3)Since 2010EducationEIN 27-4544039Revenue $627K in FY2025

On file with the IRScorptaxfoundation.org6300 N Central Ave, 85012-1109 · Phoenix, AZTax-exempt since Dec 2011Supporting org, Type I — 509(a)(3)

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To provide scholarships and grants for private school tuition to students attending one of the schools that is a member of the Foundation for Corporate Tax credit.

501(c)(3) charity; gifts are tax-deductible.
42¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $390K a year · 37% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
42%
of spending
Concern: 42% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1943 mo
of spending, in cash
Looks good: 1942.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.5M
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$627K
+30% vs prior year
Spent
$30K
To programs
42%
Net assets
$3.5M
By yearFY2020–FY2025
Revenue
$627K
FY2025▲ +30%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.7M
FY2022$1.2M
FY2023$854K
FY2024$482K
FY2025$627K
Expenses
$30K
FY2025▼ -90%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$940K
FY2022$1.2M
FY2023$348K
FY2024$298K
FY2025$30K
Net assets
$3.5M
FY2025▲ +30%
Tap a bar for its year
Net assets by fiscal year
FY2020$890K
FY2021$1.7M
FY2022$1.7M
FY2023$2.3M
FY2024$2.7M
FY2025$3.5M

From the FY2025 Form 990 (year ending June 2025) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2011.

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

Where the money goes

42 cents of each dollar spent went to programs.

Program services 42% · $12K Management & general 58% · $17K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Dan Waage
President
$0Pt VII · Sec A
Andrew Klemmer
Secretary/Treasurer (thru Nov. 24)
$0Pt VII · Sec A
Ben Sullivan
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Kelly Roach
Secretary/Treasurer (from Nov. 24)
$0Pt VII · Sec A
See Corporate Tax 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Awards scholarships and grants for private school tuition to eligible students.

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Provided by the organization

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1 program · $12K · in their own filed words · FY2024
01

Provided scholarships and grants for private school tuition to 23 students each of whom will, or have, attended one of the schools that is a member of the foundation.

$12Kprogram expense

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 · 11 grants · $3.8M · 2019–2024
Unitemized GrantFY2024$12,399
Unitemized GrantFY2023$276,731
Unitemized GrantFY2023$6,854
Unitemized GrantFY2022$314,780
Unitemized GrantFY2022$14,850
Unitemized GrantFY2021$1,161,486
Unitemized GrantFY2021$22,339
Unitemized GrantFY2020$904,529
Unitemized GrantFY2020$24,783
Unitemized GrantFY2019$1,104,598
Unitemized GrantFY2019$5,519

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$627K
Ln 12
Gifts and grantsLn 1h$535K
Investment incomeLn 3$92K
Money outPt IX
$30K
Ln 25
Programscol B$12K
Managementcol C$17K
Owns and owesPt X
$3.5M
net assets · Ln 32
Cash and savingsLn 1–2$4.8M
Total assetsLn 16$6.0M
LiabilitiesLn 26$2.5M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$535K
Investment incomeLn 3$92K
Total revenueLn 12$627K
Assets in detailPt X, end of year
CashLn 1$1.0M
SavingsLn 2$3.7M
Cash and savings togetherLn 1–2$4.8M
InvestmentsLn 11–13$1.2M
Total assetsLn 16$6.0M
LiabilitiesLn 26$2.5M
Net assetsLn 32$3.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$3.2M$4.8M
InvestmentsLn 11–13$2.8M$1.2M
Total assetsLn 16$6.0M$6.0M
LiabilitiesLn 26$3.3M$2.5M
Net assetsLn 32$2.7M$3.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$12K$12K
Accounting feesLn 11c$15K$15K
Other fees for servicesLn 11g$300$300
Office expensesLn 13$968$968
Other expenses (24a–d)Ln 24$896$896
Total functional expensesLn 25$30K$12K$17K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $627K$30K$597K$3.5M 990 PDF
FY2024 $482K$298K$184K$2.7M 990 PDF
FY2023 $854K$348K$506K$2.3M 990 PDF
FY2022 $1.2M$1.2M$17K$1.7M 990 PDF
FY2021 $1.7M$940K$784K$1.7M 990 PDF
FY2020 $1.4M$1.1M$254K$890K 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 FY2025 990 (6 parts)
Part I · Summary $627,005 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $381,250$535,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $100,948$92,005
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $482,198$627,005
I-13 Grants and similar amounts paidPrior year $283,585$12,399
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $14,567$17,179
I-18 Total expensesPrior year $298,152$29,578
I-19 Revenue less expensesPrior year $184,046$597,427
Part VI · Governance 0 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $627,005 across 4 lines filed
VIII-1f All other contributions, gifts and grants$535,000
VIII-1h Total contributions, gifts and grants$535,000
VIII-3 Investment incomeExcluded from tax $92,005$92,005
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $92,005$627,005
Part IX · Statement of functional expenses $29,578 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $12,399$12,399
IX-11c Accounting feesManagement $15,015$15,015
IX-11g Other fees for servicesManagement $300$300
IX-13 Office expensesManagement $968$968
IX-24 Other expenses (24a–d)Management $896$896
IX-25 Total functional expensesPrograms $12,399 · Management $17,179 · Fundraising $0$29,578
Part X · Balance sheet $5,965,037 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $1,002,342$1,039,022
X-2 Savings and temporary cash investmentsStart of year $2,236,128$3,749,215
X-11 Publicly traded securitiesStart of year $2,758,734$1,176,800
X-16 Total assetsStart of year $5,997,204$5,965,037
X-18 Grants payableStart of year $3,318,000$2,473,400
X-26 Total liabilitiesStart of year $3,318,000$2,473,400
X-27 Net assets without donor restrictionsStart of year $2,679,204$3,491,637
X-32 Total net assets or fund balancesStart of year $2,679,204$3,491,637
X-33 Total liabilities and net assetsStart of year $5,997,204$5,965,037
Part XI · Reconciliation of net assets $3,491,637 net assets at year end
XI-1 Total revenue$627,005
XI-2 Total expenses$29,578
XI-3 Revenue less expenses$597,427
XI-4 Net assets at start of year$2,679,204
XI-5 Net unrealized gains (losses) on investments$124,034
XI-9 Other changes in net assets$90,972
XI-10 Net assets at end of year$3,491,637

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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