Leo Foundation
The organizations primary exempt purpose is to provide scholarships to traditional full-time undergraduate students enrolled at universities and colleges in Arizona.
Leo Foundation at a glance
In short: Leo Foundation gave $80K across 2 grants in 2025 (avg $40K), mostly in Arizona. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $79,540
- -52.1% vs 2024
- Grants made (2025)
- 2
- -33.3% vs 2024
- Average grant
- $39,770
- -28.2% vs 2024
- Median grant
- $39,770
- Total assets
- $246,570
- -4.0% vs 2024
- Primary geography
- Arizona (92% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Leo Foundation funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was Grand Canyon University ($73K). Together the top 2 received $80K.
Grant Size Distribution
13 grants across all recorded years
The most common grant size was under $50K: 8 grants of 13 (62%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
States
Cities
How Leo Foundation gives
- Giving fell 50% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $80K (2025) to $197K (2023). In 2025 it made 2 grants totaling $80K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Grand Canyon University Phoenix, AZ | — | $73,428 |
| Minot State University Minot, ND | — | $6,112 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $246,570 | $241,100 | $238,919 | $79,540 | 2 | $9,599 |
| 2024 | $256,839 | $362,080 | $358,921 | $166,056 | 3 | $8,712 |
| 2023 | $321,805 | $287,149 | $437,822 | $196,793 | 4 | $3,238 |
| 2022 | $437,946 | $282,271 | $345,655 | $158,549 | 2 | $4,017 |
| 2021 | $508,131 | $273,154 | $218,529 | $113,209 | 2 | $22,328 |
| 2020 | $469,551 | $126,988 | $270,006 | $182,163 | 2 | $5,611 |
About Leo Foundation
Based on IRS filings
Leo Foundation is a public charity focused on Education, based in Phoenix, AZ. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $247K in total assets. In 2025, it awarded 2 grants totaling $80K. Net investment income was $10K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Leo Foundation is led by Madeline Winney, CEO on every filing since 2022; 1 of 6 officers listed in 2025 is compensated.
Officers on the 2025 filing
Madeline Winney
CEO
On filings since 2022
40 hrs/week
$50K (2022) → $91K (2025)
Jeff Lakes
President & Director
On filings since 2022
1 hr/week
No compensation reported
Lori Lakes
Director
On filings since 2022
1 hr/week
No compensation reported
Rob Kottmann
Director
On filings since 2023
1 hr/week
No compensation reported
Greg Sharp
Director
New on the 2025 filing
1 hr/week
No compensation reported
Michele Simphoukham
Treasurer
On filings since 2020
5 hrs/week
No compensation reported
Former officers (3)
- Former: James Murphy (2021–2022) — President
- Former: James F. Meyer (2020) — Vice President
- Former: Jeffrey C. Hamlet (2020) — Director
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $91K, to Madeline Winney (CEO).
Frequently asked questions about Leo Foundation
How much does Leo Foundation give each year?
Leo Foundation gave $80K across 2 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $166K across 3 grants.
How large is Leo Foundation?
Leo Foundation reported $247K in total assets on its 2025 IRS Form 990. Its revenue that year was $241K.
What is Leo Foundation?
Leo Foundation is a public charity focused on Education, based in Phoenix, AZ. It holds $247K in total assets as of 2025.
Where does Leo Foundation operate?
Leo Foundation has awarded grants in Arizona, North Dakota, Ohio.
What is Leo Foundation's EIN?
Leo Foundation's EIN (Employer Identification Number) is 20-4879525. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 11, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS October 27, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS July 10, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 8, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 5, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Leo Foundation funds
Education Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Leo Foundation's focus areas in our free grants database
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