State Forty Eight Foundation
- Assets
- $38.4k
- Revenue
- $124.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Chandler, AZ
- Founding
- Data as of
- 12/2021
- EIN
- 85-1524030
Organization Overview
State Forty Eight Foundation is located in Chandler, AZ. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. State Forty Eight Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DRIVE LOCAL INNOVATION AND ISPIRE COMMUNITY ACTION THROUGH THE SUPPORT AND EMPOWERMENT OF ARIZONA BASED OWNERS AND NONPROFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SMALL BUSINESS GRANTS TO ARIZONA-BASED BUSINESSES TO FULFILL OUR MISSION TO SUPPORT AND EMPOWER ARIZONA ENTREPRENEURS. BY PROVIDING GRANT FUNDING, WE CAN SUPPORT EARLY-STAGE LOCAL BUSINESSES WITH STARTUP FUNDS TO GET THEIR BUSINESS TO OFF THE GROUND OR TO THE NEXT LEVEL. SOME OF OUR LARGER GRANTS INCLUDED GRANTS TO THE FOLLOWING ORGANZIATIONS: INDIGENOUS COMMUNITY COLLABORATIVE LLC, PARC PHX, MENTAL JOE, INC, A FRESH SOLUTION, BETTER COMMUNITIES LLC, AND GIRL WHO CANT SMELL LLC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Spangenberg Chair Of The Boardtre | Trustee | 12 | $0 |
Nicholas Polando Board Member | Trustee | 10 | $0 |
Zachary Hall Presidentboard Member | Trustee | 10 | $0 |
Rabbanni Furqaan Board Member | Trustee | 10 | $0 |
Tyler Sublette Board Member | Trustee | 5 | $0 |
Doug Penick Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $63,216 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $83,453 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $146,669 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$22,035 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $124,634 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $72,581 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,042 |
| Fees for services: Accounting | $921 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,196 |
| Office expenses | $3,173 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $628 |
| Travel | $3,470 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,784 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $422 |
| All other expenses | $0 |
| Total functional expenses | $121,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,401 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $38,401 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $19,735 |
| Other liabilities | $0 |
| Total liabilities | $19,735 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $18,666 |
| Total liabilities and net assets/fund balances | $38,401 |
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