The Michael Phelps Foundation
The Michael Phelps Foundation's (MFP) mission is to empower individuals to live healthier, more confident lives by providing water safety, mental wellness, and healthy living education, equipping people with the skills to thrive in and out of the water.
The Michael Phelps Foundation at a glance
In short: The Michael Phelps Foundation gave $528K across 2 grants in 2025 (avg $264K), mostly in Georgia. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $528,000
- -2.2% vs 2024
- Grants made (2025)
- 2
- -50.0% vs 2024
- Average grant
- $264,000
- +95.6% vs 2024
- Median grant
- $264,000
- Total assets
- $1,679,239
- +16.8% vs 2024
- Primary geography
- Georgia (72% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
How to apply to The Michael Phelps Foundation
Open Grants
3 open opportunities from The Michael Phelps Foundation
Caps for a Cause
The Michael Phelps Foundation
Amount
Varies
Deadline
Deadline not published
IM Program Partnership Grant
The Michael Phelps Foundation
Amount
Varies
Deadline
Deadline not published
Level Field Fund
The Michael Phelps Foundation
Amount
Varies
Deadline
Deadline not published
Who The Michael Phelps Foundation funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was Boys & Girls Clubs of America ($378K). Together the top 2 received $528K.
Grant Size Distribution
29 grants across all recorded years
The most common grant size was under $50K: 22 grants of 29 (76%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
States
Cities
How The Michael Phelps Foundation gives
- Giving grew 75% 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 2019 to 2025, annual grant giving ranged from $177K (2020) to $571K (2023). In 2025 it made 2 grants totaling $528K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Boys & Girls Clubs of America Atlanta, GA | Grant provided to the national office for the implementation of im program | $378,000 |
| Special Olympics International Washington, DC | To support the sport of swimming in special olympics through specialized swim coach training and development | $150,000 |
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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 | $1,679,239 | $1,530,838 | $1,303,881 | $528,000 | 2 | $147 |
| 2024 | $1,437,272 | $1,340,905 | $1,265,182 | $540,000 | 4 | $4,832 |
| 2023 | $1,509,140 | $1,127,489 | $1,415,498 | $570,823 | 6 | $22,687 |
| 2022 | $1,690,535 | $832,791 | $869,679 | $302,500 | 11 | $8,254 |
| 2021 | $1,732,534 | $681,369 | $709,662 | $195,072 | 6 | $2,434 |
| 2020 | $1,762,018 | $1,240,856 | $600,939 | $176,600 | 7 | $2,730 |
| 2019 | $1,106,178 | $846,574 | $877,556 | $438,158 | 18 | — |
About The Michael Phelps Foundation
Based on IRS filings
The Michael Phelps Foundation is a public charity focused on Human Services, based in Litchfield Park, AZ. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $1.7M in total assets. In 2025, it awarded 2 grants totaling $528K. Net investment income was $147.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
The Michael Phelps Foundation is led by Nicole Phelps, President & CEO since 2025 (on filings since 2024); 1 of 8 officers listed in 2025 is compensated.
Officers on the 2025 filing
Nicole Phelps
President & CEO
President → President & CEO, 2025
On filings since 2024
5 hrs/week
No compensation reported
Karen Linhart
Executive Director
New on the 2025 filing
40 hrs/week
$12K (2025)
Lenny Krayzelberg
Treasurer
On filings since 2019
3 hrs/week
No compensation reported
Michael Lynch
Board Member
On filings since 2019
1 hr/week
No compensation reported
Bob Bowman
Board Member
On filings since 2024
1 hr/week
No compensation reported
Debbie Phelps
Secretary
On filings since 2024
1 hr/week
No compensation reported
Kristin Struble
Board Member
On filings since 2024
1 hr/week
No compensation reported
Mike Unger
Board Member
On filings since 2024
1 hr/week
No compensation reported
Former officers (5)
- Former: Marissa Fortier (2019–2024) — Managing Director
- Former: Deborah Phelps (2019–2023) — Secretary
- Former: Michael Phelps (2019–2023) — President
- Former: Robert Bowman (2019–2023) — Board Member
- Former: Amber Fries (2019) — Board Member
Data from IRS Form 990 filings, 2019–2025. "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 $12K, to Karen Linhart (Executive Director).
Frequently asked questions about The Michael Phelps Foundation
How much does The Michael Phelps Foundation give each year?
The Michael Phelps Foundation gave $528K across 2 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $540K across 4 grants.
How large is The Michael Phelps Foundation?
The Michael Phelps Foundation reported $1.7M in total assets on its 2025 IRS Form 990. Its revenue that year was $1.5M.
What is The Michael Phelps Foundation?
The Michael Phelps Foundation is a public charity focused on Human Services, based in Litchfield Park, AZ. It holds $1.7M in total assets as of 2025.
Where does The Michael Phelps Foundation operate?
The Michael Phelps Foundation has awarded grants in Arizona, California, District of Columbia, Florida, Georgia, Illinois, Maryland, Maine, North Carolina, Nebraska, Pennsylvania, Texas, Virginia.
What is The Michael Phelps Foundation's EIN?
The Michael Phelps Foundation's EIN (Employer Identification Number) is 61-1571538. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS August 17, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS August 29, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS October 11, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS April 29, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS September 2, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS May 19, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS August 26, 2026)
- IRS filings on file for fiscal years 2020–2024
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