Civic Intelligence

American Free Enterprise Foundation

EIN 85-4054102 • 501(c)3 • Salt Lake City, UT

Profile

The primary exempt purpose of the American Free Enterprise Foundation (AFEF) is to inspire and empower young people to achieve their potential by teaching the principles of goal setting, financial responsibility, resilience, and moral character, as well as, early exposure to and training in a wide variety of careers.Through its annual educational events and scholarship programs, AFEF provides high school students with the information, values, and opportunities they need to build successful, purpose-driven lives within the framework of the United States of Americas free enterprise system.

198 E Ensign Vista DriveSalt Lake City, UT 84103

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

84th percentile

$0

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

60th percentile

3.6%

Faster asset growth than 60% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

96th percentile

237%

Faster revenue growth than 96% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Up

$175,786

Up $6,172 (+3.6%) from 2023

Liabilities

-

No earlier filing loaded for comparison.

Net Assets

Up

$175,786

Up $6,172 (+3.6%) from 2023

Operations
Liabilities / RevenueScore unavailableNet Margin98th percentile

Revenue

Up

$6,554

Up $4,607 (+237%) from 2023

Expenses

Down

$382

Down $4,933 (-93%) from 2023

Net Income

Up

$6,172

Up $9,540 (+283%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth60th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200K$150K$100K$50K$0Assets 2022: $172,982Net Assets 2022: $172,9822022Assets 2023: $169,614Net Assets 2023: $169,6142023Assets 2024: $175,786Net Assets 2024: $175,7862024

Highlighted filing

2024

Assets$175,786
Liabilities-
Net Assets$175,786
Open 2024 Filing

Operations Trend

Revenue Growth96th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200K$150K$100K$50K$0-$50KRevenue 2022: $155,221Expenses 2022: $1Net Income 2022: $155,2202022Revenue 2023: $1,947Expenses 2023: $5,315Net Income 2023: -$3,3682023Revenue 2024: $6,554Expenses 2024: $382Net Income 2024: $6,1722024

Highlighted filing

2024

Revenue$6,554
Expenses$382
Net Income$6,172
Open 2024 Filing

Filings

Most recent year

2024 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$175,786
Liabilities
-
Net assets
$175,786
Revenue
$6,554
Expenses
$382
Net income
$6,172
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.76$1.76$0.07$0.00$0.06
2023Detailed filing. Detailed filing data is available for this year.$1.70$1.70$0.02$0.05$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.73$1.73$1.55$0.00$1.55
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$6,554
Mission and Program Overview

Mission

The primary exempt purpose of the American Free Enterprise Foundation (AFEF) is to inspire and empower young people to achieve their potential by teaching the principles of goal setting, financial responsibility, resilience, and moral character, as well as, early exposure to and training in a wide variety of careers.Through its annual educational events and scholarship programs, AFEF provides high school students with the information, values, and opportunities they need to build successful, purpose-driven lives within the framework of the United States of Americas free enterprise system.

Program Services

DescriptionGrantsExpenses
Although the American Free Enterprise Foundation (AFEF) was formed in October 2020, the effects of the COVID-19 pandemic completely shutdown the entire school system, this precluded the AFEF from holding the intended annual educational and scholarship event, the American Free Enterprise Success Seminar (AFESS).The event's purpose is to educate high-school students about setting goals, understanding credit, overcoming adversity, and developing values that will guide them throughout their lives, and to expose them to experts who have created businesses and career paths that could set students on valuable paths forward. At the culmination of the program, scholarships are awarded to participating students. Because of the on-going effects on the school system of the pandemic, the program which had been held every year from 2011 to 2019 was suspended until 2025.The concept for the AFESS event originated with Kathy Loveless when she was asked to speak at the scholarship program that had been administered by the Sons of the Utah Pioneers, under the direction of John Morgan. At that time, no training was provided to students, just scholarships.Kathy Loveless knew that far more than money was needed to set students on the right path and she proposed to John Morgan that she would create the first AFESS. Kathy knew she could call on her colleagues in the professional training and speaking business to give their time and talent to train the next generation. That was accomplished just a few months later in November of 2011. That program continued every year until 2019 under the non-profit, Sons of Utah Pioneers. The program had expanded greatly in the number of scholarships, number of training programs and it became evident that it now needed to become its own entity with its own funding and board of directors. That is why it was created as its own 501 (c) 3 in 2020, before it was known what COVID-19 would do to the school system.Wayne Webster also became a new provider of scholarship funds in 2020. (Although he sat on the board during its formative years to assist with establishing AFEFs mission and operations, the organization maintained an independent board majority, and no personal or financial benefit was provided to Wayne Webster or any related party. All contributions were/are unrestricted gifts used to advance the organization's exempt purposes.)Because COVID-19 restrictions and hesitancy among school personnel continued through much of 2024, AFEFs program activities were limited during 2024. During this period, the organization focused on rebuilding the program infrastructure, developing partnerships with schools, refining event materials, and securing the financial resources necessary to relaunch, ensuring that when schools were ready to participate the program could resume on a sustainable basis.Those preparations culminated in April 2025 with the first full-day AFEF event since the pandemic, during which 70 students attended the training and were awarded scholarships in accordance with the organization's exempt purpose.-$382
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathy W LovelessDirectorPT$0--
J Michael BennionDirectorPT$0--
Wayne P WebsterDirector-$0--
Filing and Contact Details

Filer

Filer Name
American Free Enterprise Foundation
EIN
85-4054102
Phone
8018081806
Address
198 E Ensign Vista Drive, Salt Lake City, UT 84103

Signing Officer

Name
Kathy W Loveless
Title
Director
Signed
2025-11-17
Discuss with paid preparer
Yes

Preparer

Firm
Harris & Associates PLLC
Address
920 West Chester Lane, Kaysville, UT 84037
Preparer
Julie A Harris CPA
Phone
8015444066
Supplemental Narrative

Additional Explanations

Other Expenses.1003

“Information Technology $382”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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