Desert Financial Foundation

Tax-deductible

Phoenix, AZ501(c)(3)Foundations & GrantmakersEIN 81-1028132Revenue $1.2M in FY2024

On file with the IRSdesertfinancial.com/foundation148 N 48th St, 85034-1900 · Phoenix, AZTax-exempt since Jun 2016Publicly supported charity — 170(b)(1)(A)(vi)

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To promote the Financial health of our community through education, scholarships, grants to non-profit programs, and fundraising efforts.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
2 of 5
filings with a surplus
Average deficit $117K a year · 11% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $282K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$865K
77% of total assets
Worth a look: liabilities are 77% of assets; over 65%.
Pt X · Ln 26
Independent board members
4
of 9 voting members
Worth a look: 4 of 9 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+7% vs prior year
Spent
$1.2M
To programs
100%
Net assets
$264K
By yearFY2020–FY2024
Revenue
$1.2M
FY2024▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$1.1M
FY2022$1.1M
FY2023$1.1M
FY2024$1.2M
Expenses
$1.2M
FY2024▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.1M
FY2022$1.0M
FY2023$1.1M
FY2024$1.2M
Net assets
$264K
FY2024▼ -17%
Tap a bar for its year
Net assets by fiscal year
FY2020$258K
FY2021$253K
FY2022$311K
FY2023$318K
FY2024$264K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2016.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.2M Fundraising 0% · $4K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director (left 4/2024)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Desert Financial 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

Boosts community financial health via education, scholarships, and grants.

Questions for Desert Financial Foundation

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Provided by the organization

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3 programs · $1.2M · in their own filed words · FY2024
01

Desert financial foundation is the primary financial supporter of the one darn cool school of phoenix children's hospital. Childran receiving services at the hospital are able to continue with their education and receive support to transition successfully back to their home school.

$791Kprogram expense
02

Scholarships are awarded to students displaying leadership through community service, academic excellence, and demonstrated financial need. Scholarships range from $2,500 to $10,000 for graduating high school seniors and adult learners (non-traditonal students) attending 2-OR 4-YEAR colleges or universities in the state of arizona.

$376Kprogram expense
03

Employee Emergency Assistance & General Fund

The foundation operates an emergency fund for individuals facing a verifiable financial hardship as a result of serious illness or injury, violent crime, military depolyment, death, terrorist or military action, an accident involving a common carrier, or a federally declared disaster.

$66Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$282K
Grants paid · 87 grants · $5.2M · 2020–2024
Arizona State UniversityFY2024$159,000
University of ArizonaFY2024$47,000
Unitemized GrantFY2024$39,811
Grand Canyon UniversityAZ · FY2024$33,000
West-Mec AllianceAZ · FY2024$15,000
Unitemized GrantFY2024$5,917
Unitemized GrantFY2024$5,820
Unitemized GrantFY2024$5,137
Unitemized GrantFY2024$3,667
Unitemized GrantFY2024$2,652
Unitemized GrantFY2024$1,800
See all 87 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$1.3M
Money outPt IX
$1.2M
Ln 25
Programscol B$1.2M
Fundraisingcol D$4K
Owns and owesPt X
$264K
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$1.1M
LiabilitiesLn 26$865K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Noncash giftsLn 1g$114K
Fundraising eventsLn 1c$627K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$1.1M
Cash and savings togetherLn 1–2$1.1M
Total assetsLn 16$1.1M
LiabilitiesLn 26$865K
Net assetsLn 32$264K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.1M$1.1M
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$768K$865K
Net assetsLn 32$318K$264K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.2M$1.2M
Grants to domestic individualsLn 2$66K$66K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$1.2M$1.2M$0$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$1.2M−$55K$264K 990 PDF
FY2023 $1.1M$1.1M$7K$318K 990 PDF
FY2022 $1.1M$1.0M$58K$311K 990 PDF
FY2021 $1.1M$1.1M−$16K$253K 990 PDF
FY2020 $1.1M$1.7M−$581K$258K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $1,181,914 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,104,190$1,296,238
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0−$114,324
I-12 Total revenuePrior year $1,104,190$1,181,914
I-13 Grants and similar amounts paidPrior year $1,096,347$1,232,637
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 $567$3,996
I-18 Total expensesPrior year $1,096,914$1,236,633
I-19 Revenue less expensesPrior year $7,276−$54,719
Part VI · Governance 4 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members4
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
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $1,181,914 across 7 lines filed
VIII-1c Fundraising events$627,428
VIII-1d Related organizations$278,251
VIII-1f All other contributions, gifts and grants$390,559
VIII-1g Noncash contributions (included above)$114,324
VIII-1h Total contributions, gifts and grants$1,296,238
VIII-8 Net income from fundraising eventsExcluded from tax −$114,324−$114,324
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$114,324$1,181,914
Part IX · Statement of functional expenses $1,236,633 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $1,166,928$1,166,928
IX-2 Grants to domestic individualsPrograms $65,709$65,709
IX-24 Other expenses (24a–d)Fundraising $3,996$3,996
IX-25 Total functional expensesPrograms $1,232,637 · Management $0 · Fundraising $3,996$1,236,633
Part X · Balance sheet $1,128,647 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $1,081,295$1,126,312
X-4 Accounts receivableStart of year $4,750$2,335
X-16 Total assetsStart of year $1,086,045$1,128,647
X-17 Accounts payable and accrued expensesStart of year $722,602$791,423
X-19 Deferred revenueStart of year $45,000$73,500
X-26 Total liabilitiesStart of year $767,602$864,923
X-27 Net assets without donor restrictionsStart of year $129,287$91,761
X-28 Net assets with donor restrictionsStart of year $189,156$171,963
X-32 Total net assets or fund balancesStart of year $318,443$263,724
X-33 Total liabilities and net assetsStart of year $1,086,045$1,128,647
Part XI · Reconciliation of net assets $263,724 net assets at year end
XI-1 Total revenue$1,181,914
XI-2 Total expenses$1,236,633
XI-3 Revenue less expenses−$54,719
XI-4 Net assets at start of year$318,443
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$263,724

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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