American Free Enterprise Foundation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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.
- Income
- $6,554
- Spending
- $382
- Reserves
- Over 10 years of spending
- Largest source of income
- investment income, 92%
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
We do not score finances when yearly spending is very small or the return has too little detail. The ratios stop meaning much at that size.
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
This organization files the short tax form, which does not ask about boards, policies or audits. That is normal for a small charity and is not a mark against it.
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $382 spent. 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.
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since February 2021.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.