Canyon Institute is a private foundation based in Phoenix, Arizona, focused on supporting higher education. Designated as a 501(c)(3) organization, it was granted tax-exempt status in December 2015. The foundation operates as a non-operating private foundation with a commitment to educational advancement and scholarship support.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$39.5M
+5.1% YoY
Annual Giving
$1.5M
-4.4% YoY
Grant Count
38
+8.6% YoY
Avg Grant Size
$38K
-11.9% YoY
Under IRS private-foundation payout rules, Canyon Institute reported a distributable amount of $1.9M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
Canyon Institute primarily supports higher education initiatives, with particular emphasis on:
- Scholarship Programs: Arizona resident scholarships for students pursuing Christian higher education
- University Education: Support for academic and university-level initiatives
- Endowed Scholarships: Multiple named endowment funds including the Wesley & Lola Freeburg Scholarship, Ruby Shelby Jackson Scholarship, Chimiarra Scholarship, and Will-Pfeiffer Scholarship
- Educational Institutions: Funding for universities and related educational activities
- International Education Support: Grants to organizations supporting educational and ministry work internationally
Grantmaking
Grant Range
$500 to $319,327
Average Grant
amount: approximately $12,000
Review Cycle
May 31st
How to Apply
**
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Geographic Focus
Where this funder awards grants
Canyon Institute funds organizations primarily in:
- Arizona (primary focus)
- Texas
- Georgia
- California
These four states account for approximately 80% of all grants. The foundation's grantmaking reaches organizations across 12 states, with funding extending to major urban centers including New York, Dallas, and Seattle.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (Most Recent Fiscal Year):
- Total assets: $39.5M (2024)
- Total revenue: $783K to $1.16M (varies by reporting period)
- Total expenses: $1.97M (2024)
- Total liabilities: $294K (2024)
- Investment income and dividends: $458,856 (2023)
Historical Asset Growth:
- Assets grew from $31.2M in 2010 to $37.6M in 2022, demonstrating consistent growth
Annual Distribution:
- The foundation has distributed between $1.5M and $1.6M annually from 2020 to 2022
- Highest grantmaking activity in 2021 with $1.6M distributed across 164 grants
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $39,509,960 | $37,581,049 | $36,608,270 |
| Revenue | $782,547 | $1,163,672 | $1,158,701 |
| Expenses | $1,971,005 | $1,932,292 | $1,999,242 |
| Qualifying Distributions | $1,738,907 | $1,762,929 | $1,831,562 |
| Net Investment Income | $1,691,200 | $54,122 | $2,502,012 |
| Distributable Amount | $1,857,131 | $1,783,513 | $1,907,911 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
215 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Guidestone Financial Resources ($200,000), Grand Canyon University ($171,300), Grand Canyon University ($170,000).
| Recipient | Purpose | Amount |
|---|---|---|
| 25 PROJECT INC MCKINNEY, TX | UPGRADES TO MONKEY BUSH MINISTRY CENTER, SIERRA LEONE | $50,000 |
| CHRISTIAN CHALLENGE AZ FLAGSTAFF, AZ | CAMPUS MINISTRY NEEDS | $107,000 |
| ECUMENICAL CHAPLAINCY FOR THE HOMELESS PHOENIX, AZ | OPERATION JUMPSTART, RENTAL/HOUSING ASSISTANCE | $30,000 |
| EPISCOPAL RELIEF & DEVELOPMENT NEW YORK, NY | HONDURAS MICRO-FINANCE | $70,000 |
| FELLOWSHIP OF CHRISTIAN ATHLETES PHOENIX, AZ | SUMMER CAMP & GCU MINISTRIES | $80,000 |
| GRAND CANYON UNIVERSITY PHOENIX, AZ | STUDENTS INSPIRING STUDENTS SCHOLARSHIP PROGRAM | $170,000 |
| GUIDESTONE FINANCIAL RESOURCES DALLAS, TX | SUPPORT FOR RETIRED PASTORS AND WIDOWS | $200,000 |
| HEARTFIRE MISSIONS INC SCOTTSDALE, AZ | SURGICAL EQUIPMENT, VIDEO WHITEBOARD, VIDEO PROJECT | $50,000 |
| INTERNATIONAL MISSION BOARD OF THE SBC RICHMOND, VA | MISSIONS TO SUB-SARAHAN AFRICA (55 IN 5 PROJECT) | $40,000 |
| MENTORKIDS USA SCOTTSDALE, AZ | AFTER SCHOOL AND SUMMER PROGRAMS FOR KIDS IN MARYVALE | $50,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Board of Trustees and Officers:
- Michael Rochelle - Trustee/Chair (from May 2023)
- Jeff Pettett - Trustee/Chair (to May 2023)
- Steve Hayes - Trustee/Vice Chair
- Eric Cook - Trustee/Secretary/Treasurer
- William Brotherton, JD - Trustee
- Kimberly Tobey - Trustee
- Brian Middleton - Trustee
- Lori Horn Bustamante - Trustee
- Chris Stull - Trustee
- Mitchell C. Laird - CEO/CFO
The foundation is governed by 11 officers and trustees. Board members serve approximately 1 hour per week, with the CEO/CFO dedicating 5 hours per week.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MICHAEL ROCHELLE | TRUSTEE/CHAIR | 1.5 | — |
| STEVE HAYES | TRUSTEE/VICE CHAIR | 1 | — |
| ERIC COOK | TRUSTEE/SEC/TREASURER | 1 | — |
| WILLIAM BROTHERTON JD | TRUSTEE | 1 | — |
| KIMBERLY TOBEY | TRUSTEE | 1 | — |
| BRIAN MIDDLETON | TRUSTEE | 1 | — |
| LORI HORN BUSTAMANTE | TRUSTEE | 1 | — |
| CHRIS STULL | TRUSTEE | 1 | — |
| JEFF PETTETT | TRUSTEE | 1 | — |
| MITCHELL C LAIRD | CEO/CFO | 5 | — |
| JON ALTHOUSE | COO | 13 | — |
Recent News & Activity
Recent developments and announcements
Canyon Institute's Arizona Resident Scholarship program continues to accept applications, with 2026 funding cycles announced. The foundation has supported 265 unique organizations across its grantmaking history, with individual grants ranging from $500 to $202,000.
Canyon Institute Arizona Resident Scholarship 2026 , USA (Funding ...Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Canyon Institute fund?
Canyon Institute primarily supports higher education initiatives, with particular emphasis on: • **Scholarship Programs**: Arizona resident scholarships for students pursuing Christian higher education • **University Education**: Support for academic and university-level initiatives • **Endowed Scholarships**: Multiple named endowment funds including the Wesley & Lola Freeburg Scholarship, Ruby Shelby Jackson Scholarship, Chimiarra Scholarship, and Will-Pfeiffer Scholarship • **Educational Inst…
How do I apply for a grant from Canyon Institute?
**Grant Activity:** • Made 177 grants in the most recent reporting period • Total giving of approximately $1.45M to $1.76M annually • Grant range: $500 to $319,327 • Median grant amount: $2,088 • Average grant amount: approximately $12,000 • Giving rate: 4.8% of assets **Recent Grantees Include:** • Guidestone Financial Resources of the Southern Baptist Convention ($200,000 for support of retired pastors and widows) • Orchard Africa ($77,000 for New Impact Center in Mafikeng, South Africa) • 25…
Where does Canyon Institute make grants?
Canyon Institute funds organizations primarily in: • **Arizona** (primary focus) • **Texas** • **Georgia** • **California** These four states account for approximately 80% of all grants. The foundation's grantmaking reaches organizations across 12 states, with funding extending to major urban centers including New York, Dallas, and Seattle.
What size grants does Canyon Institute award?
In 2024, Canyon Institute awarded 38 grants totaling $1.5M — an average of about $38K per grant, based on its IRS Form 990 filings.
How much is Canyon Institute required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Canyon Institute reported a distributable amount of $1.9M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Canyon Institute's EIN?
Canyon Institute's EIN (Employer Identification Number) is 86-0977269. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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