Nonprofit · EIN 20-0059842
AMERICAN OPPORTUNITY FOUNDATION
Tax-exempt (reinstated) · SALT LAKE CITY, UT 84115
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,109,424 | $182,549 | $926,875 | $4,161,917 | $0 | $4,161,917 |
| December 31, 2023 | 990 (amended) | $925,168 | $136,024 | $789,144 | $3,235,042 | $0 | $3,235,042 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $755,997
- Program service revenue
- $0
- Investment income
- $353,427
- Net gain from sales of assets
- $259,993
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $124,103
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $225
- Program services (functional)
- $124,103
- Management and general (functional)
- $58,446
Balance sheet and other
- Total assets, start of year
- $3,235,042
- Total assets, end of year
- $4,161,917
- Total liabilities, end of year
- $0
- Net assets, end of year
- $4,161,917
- Gross receipts
- $1,141,593
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1996
- State of legal domicile
- UT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICHARD M TAGGART | PRESIDENT/TRUSTEE Trustee or director, Officer | 0.25 | $0 |
| RICHARD P TAGGART | V PRESIDENT/TRUSTEE Trustee or director, Officer | 1.5 | $0 |
| JOY PAYNE | TRUSTEE Trustee or director | 1.5 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICHARD M TAGGART | PRESIDENT/TRUSTEE Trustee or director, Officer | 0.25 | $0 |
| RICHARD P TAGGART | V PRESIDENT/TRUSTEE Trustee or director, Officer | 1.5 | $0 |
| JOY PAYNE | TRUSTEE Trustee or director | 1.5 | $0 |
Address and contacts
- Address (IRS master file)
- 3030 S MAIN STREET, SALT LAKE CITY, UT 84115-3567
- In care of
- % RICHARD M TAGGART
- Principal officer (990 for 2024)
- RICHARD M TAGGART, 3030 S MAIN STREET, SALT LAKE CITY, UT 84115
- Signed the 990
- RICHARD M TAGGART, PRESIDENT
- Phone
- (801) 466-8701
- Return prepared by
- Thorne & Associates CPA LLC
Mission
THE PURPOSE OF THE FOUNDATION IS TO PROMOTE EDUCATIONAL AND SCIENTIFIC OBJECTIVES BY PROVIDING SCHOLARSHIPS AND/OR ENDOWMENTS
Program accomplishments
- SCHOLARSHIPS GIVEN TO POST SECONDARY SCHOOLS TO PROVIDE SCHOLARSHIPS TO WORTHY UNDERGRADUATE CANDIDATESExpenses $124,103 · grants $124,103 · revenue $755,977
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 20-0059842
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T31)
- Assets (IRS master file)
- $4,161,917
- Income (IRS master file)
- $1,141,593
Revocation and reinstatement
- Exemption revoked
- May 15, 2012
- Posted by the IRS
- February 11, 2013
- Reinstated
- Effective November 15, 2014
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,109,424 | $182,549 | $4,161,917 | XML |
| 990 | December 2023 | $925,168 | $136,024 | $3,235,042 | IRS |
| 990 | December 2022 | $804,605 | $132,038 | $2,640,231 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-0059842).
Questions about AMERICAN OPPORTUNITY FOUNDATION
- What is the EIN of AMERICAN OPPORTUNITY FOUNDATION?
- The employer identification number (EIN) of AMERICAN OPPORTUNITY FOUNDATION is 20-0059842.
- Is AMERICAN OPPORTUNITY FOUNDATION tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2012 and reinstated it effective November 15, 2014.
- Are donations to AMERICAN OPPORTUNITY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does AMERICAN OPPORTUNITY FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of AMERICAN OPPORTUNITY FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did AMERICAN OPPORTUNITY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of AMERICAN OPPORTUNITY FOUNDATION?
- The 990 for the year ended December 31, 2024 names RICHARD M TAGGART.
- Who are the officers and directors of AMERICAN OPPORTUNITY FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does AMERICAN OPPORTUNITY FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,109,424, expenses of $182,549 and total assets of $4,161,917 at year end.
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