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Fleischer Scholars Foundation FY2022 filing

Tax-deductible

Paradise Vly, AZ501(c)(3)EducationEIN 87-3848551Revenue $2.5M in FY2022

On file with the IRS5515 N Saguaro Rd, 85253-5225 · Paradise Vly, AZTax-exempt since Feb 2022Publicly supported charity — 170(b)(1)(A)(vi)

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The foundation's primary purpose is to raise funds for the promotion and development of the Scholars program by partnering with colleges and universities across the united states.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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 3
filings with a surplus
Average surplus $317K a year · 23% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
37 mo
of spending, in cash
Looks good: 36.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.5M
Spent
$529K
To programs
92%
Net assets
$1.9M
By yearFY2021–FY2024
Revenue
$2.5M
FY2022
Tap a bar for its year
Revenue by fiscal year
FY2021$0
FY2022$2.5M
FY2023$1.3M
FY2024$310K
Expenses
$529K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$529K
FY2023$1.2M
FY2024$1.4M
Net assets
$1.9M
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2021$0
FY2022$1.9M
FY2023$1.9M
FY2024$727K

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2022.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $488K Management & general 4% · $22K Fundraising 4% · $19K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Morton Fleischer
CEO/Chairman/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Gary Head
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Amy Hillman
Director
$0Pt VII · Sec A
Paul Belitz
Vice President & Secretary
$0Pt VII · Sec A
See Fleischer Scholars 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

Raises funds for college scholarships by partnering with universities nationwide.

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Provided by the organization

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1 program · $488K · in their own filed words · FY2022
01

The scholars program works with high school students to encourage entrepreneurial spirit and an understanding of the capitalist philosophy of the economic system in the united states by partnering with colleges and universities across the united states.

$488Kprogram 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 · FY2023
Donor Advised Charitable Giving INCFY2023$50K
Total grants receivedfrom 1 funder$50K
Grants paid · 12 grants · $1.0M · 2022–2024
National Academy FoundationNY · FY2024$438,750
Arizona State University Foundation for a New American UniversityAZ · FY2024$124,248
San Juan Diego Catholic High SchoolTX · FY2024$50,000
University of La VerneCA · FY2024$50,000
John L Nau III FoundationTX · FY2024$10,512
Csusb Philanthropic FoundationCA · FY2024$9,718
Trustees of Purdue UniversityIN · FY2024$5,250
Arizona State University Foundation for a New American UniversityAZ · FY2022$186,920
San Juan Diego Catholic High SchoolTX · FY2022$50,000
Universtiy of LaverneCA · FY2022$50,000
Washington UniversityMO · FY2022$23,933
John L Nau III FoundationTX · FY2022$6,256

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.5M
Ln 12
Gifts and grantsLn 1h$2.5M
Investment incomeLn 3$172
Money outPt IX
$529K
Ln 25
Programscol B$488K
Managementcol C$22K
Fundraisingcol D$19K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$1.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.5M
Investment incomeLn 3$172
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$1.6M
Cash and savings togetherLn 1–2$1.6M
Total assetsLn 16$1.9M
LiabilitiesLn 26$0
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 51
VolunteersI 67
Fiscal year endsHeaderDecember
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 FY22End FY22
Cash and savingsLn 1–2$0$1.6M
Total assetsLn 16$0$1.9M
LiabilitiesLn 26$0$0
Net assetsLn 32$0$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$317K$317K
Other salaries and wagesLn 7$16K$16K
Payroll taxesLn 10$1K$1K
Legal feesLn 11b$19K$19K
Accounting feesLn 11c$3K$3K
Professional fundraising feesLn 11e$19K$19K
Other fees for servicesLn 11g$113K$113K$150
Advertising and promotionLn 12$16K$16K
Other expenses (24a–d)Ln 24$24K$24K
Total functional expensesLn 25$529K$488K$22K$19K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $310K$1.4M−$1.1M$727K 990 PDF
FY2023 $1.3M$1.2M$82K$1.9M 990 PDF
FY2022 Viewing $2.5M$529K$1.9M$1.9M 990 PDF
FY2021 $0$0 990 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 FY2022 990 (6 parts)
Part I · Summary $2,475,197 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$2,475,025
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$172
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $0$2,475,197
I-13 Grants and similar amounts paidPrior year $0$317,109
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$17,367
I-16a Professional fundraising feesPrior year $0$18,750
I-17 Other expensesPrior year $0$175,597
I-18 Total expensesPrior year $0$528,823
I-19 Revenue less expensesPrior year $0$1,946,374
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,475,197 across 4 lines filed
VIII-1f All other contributions, gifts and grants$2,475,025
VIII-1h Total contributions, gifts and grants$2,475,025
VIII-3 Investment incomeExcluded from tax $172$172
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $172$2,475,197
Part IX · Statement of functional expenses $528,823 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $317,109$317,109
IX-7 Other salaries and wagesPrograms $16,042$16,042
IX-10 Payroll taxesPrograms $1,325$1,325
IX-11b Legal feesManagement $18,633$18,633
IX-11c Accounting feesManagement $3,150$3,150
IX-11e Professional fundraising feesFundraising $18,750$18,750
IX-11g Other fees for servicesPrograms $112,890 · Management $150$113,040
IX-12 Advertising and promotionPrograms $16,425$16,425
IX-24 Other expenses (24a–d)Programs $24,349$24,349
IX-25 Total functional expensesPrograms $488,140 · Management $21,933 · Fundraising $18,750$528,823
Part X · Balance sheet $1,946,374 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $0$1,621,374
X-3 Pledges and grants receivable$325,000
X-16 Total assetsStart of year $0$1,946,374
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictions$1,946,374
X-32 Total net assets or fund balancesStart of year $0$1,946,374
X-33 Total liabilities and net assetsStart of year $0$1,946,374
Part XI · Reconciliation of net assets $1,946,374 net assets at year end
XI-1 Total revenue$2,475,197
XI-2 Total expenses$528,823
XI-3 Revenue less expenses$1,946,374
XI-4 Net assets at start of year$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,946,374

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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