| MUSICAL INSTRUMENT MUSEUM | Phoenix | A50 Arts, Culture & Humanities | $41.1M | 5 |
| Virginia G Piper Charitable Trust | Phoenix | T20 Philanthropy, Voluntarism & Grantmaking Foundations | $41M | 12 |
| LIFEWELL | Phoenix | — | $40.5M | 11 |
| DIABETES PREVENTION AND AID FUND | Nogales | K30Z Food, Agriculture & Nutrition | $40.4M | 1 |
| NATIVE AMERICAN CONNECTIONS INC | Phoenix | F300 Mental Health & Crisis Intervention | $39.7M | 9 |
| WEST YAVAPAI GUIDANCE CLINIC INC | Prescott Valley | F320 Mental Health & Crisis Intervention | $39.5M | 10 |
| PEOPLE OF FAITH INC | Sun City | P750 Human Services | $39.2M | 8 |
| Banner Health Foundation | Phoenix | E112 Health Care | $39.2M | 8 |
| FREDERICK GARDNER COTTRELL FOUNDATION | Tucson | T21 Philanthropy, Voluntarism & Grantmaking Foundations | $38.2M | 0 |
| MARC COMMUNITY RESOURCES INC | Mesa | P820 Human Services | $37.2M | 2 |
| THE BEATITUDES CAMPUS | Phoenix | P750 Human Services | $37M | 9 |
| CROSSROADS INC | Phoenix | F22 Mental Health & Crisis Intervention | $36.9M | 10 |
| TMC ONE | Tucson | E32 Health Care | $36.1M | 12 |
| COPE COMMUNITY SERVICES INC | Tucson | F30Z Mental Health & Crisis Intervention | $35.8M | 7 |
| RECREATION CENTERS OF SUN CITY WEST INC | Sun City West | — | $35.8M | 7 |
| BENJAMIN FRANKLIN CHARTER SCHOOL - QUEEN CREEK | Gilbert | B29 Education | $35.8M | 6 |
| GILA RIVER GAMING ENTERPRISES INC GROUP EMPLOYEE BENEFIT PLAN & TRUST | Chandler | Y43 Mutual & Membership Benefit | $35.7M | 0 |
| IMMANUEL CARING MINISTRIES INC | Peoria | P750 Human Services | $35.3M | 4 |
| ARIZONA CAPITAL FACILITIES FINANCE CORPORATION & CONTROLLED AFFILIATES | Tempe | — | $35.2M | 3 |
| THE SJOUWERMAN FOUNDATION INC | Phoenix | T11 Philanthropy, Voluntarism & Grantmaking Foundations | $34.7M | 1 |
| Helios Education Foundation | Phoenix | W600 Public & Societal Benefit | $34.6M | 25 |
| SUN CITY GRAND COMMUNITY ASSOCIATION INC | Surprise | L50 Housing & Shelter | $34.4M | 5 |
| CREIGHTON UNIVERSITY ARIZONA HEALTH EDUCATION ALLIANCE | Phoenix | E19 Health Care | $34.4M | 1 |
| RECREATION CENTERS OF SUN CITY INC | Sun City | — | $34.3M | 1 |
| HEALTH CARE PLAN OF THE SUNDT COMPANIES | Tucson | — | $33.9M | 0 |
| COPPER STATE CREDIT UNION | Phoenix | — | $33.9M | 26 |
| MONEY MANAGEMENT INTERNATIONAL INC | Phoenix | P51 Human Services | $33.8M | 15 |
| Arizona Tuition Connection Inc | Scottsdale | B82 Education | $33.6M | 3 |
| NATIONAL INSTITUTE FOR EXCELLENCE IN TEACHING | Scottsdale | B192 Education | $33.6M | 17 |
| PARAGON MANAGEMENT INC | Surprise | B24 Education | $33.3M | 5 |
| Catholic Community Services of Southern Arizona Inc | Tucson | — | $32.9M | 9 |
| CODAC HEALTH RECOVERY & WELLNESS | Tucson | — | $32.9M | 7 |
| SPECTRUM HEALTHCARE GROUP INC | Cottonwood | — | $32.8M | 7 |
| MARICOPA ASSOCIATION OF GOVERNMENTS | Phoenix | — | $32.6M | 8 |
| INTERMOUNTAIN CENTERS FOR HUMAN DEVELOPMENT INC | Tucson | P730 Human Services | $32.3M | 9 |
| THE ODYSSEY PREPARATORY ACADEMY INC | Buckeye | B29 Education | $32.2M | 4 |
| TMC HOLDINGS | Tuscon | S47 Community Improvement & Capacity Building | $32M | 6 |
| PHOENIX GOSPEL MISSION | Phoenix | X21Z Religion-Related | $31.9M | 6 |
| CIRCLE THE CITY | Phoenix | P20 Human Services | $31.8M | 13 |
| THE 3000 CLUB | Phoenix | P20 Human Services | $31.6M | 1 |
| SOUTHWEST NETWORK | Phoenix | E99 Health Care | $31.4M | 7 |
| Sun Health Grandview Terrace | Sun City West | L22 Housing & Shelter | $31.3M | 11 |
| Daisy Education Corporation | Gilbert | B29 Education | $31.2M | 5 |
| PHOENIX COUNTRY DAY SCHOOL | Paradise Valley | B24Z Education | $31.1M | 12 |
| UMOM NEW DAY CENTERS INC | Phoenix | L410 Housing & Shelter | $30.8M | 6 |
| BOYS & GIRLS CLUBS OF THE VALLEY INC | Phoenix | — | $30.6M | 7 |
| Gilbert Christian Schools Inc | Gilbert | B20Z Education | $30.5M | 8 |
| Arizona Community Development Corporatio | Tucson | B29 Education | $30.4M | 1 |
| NATIVE HEALTH | Phoenix | — | $30.2M | 10 |
| HONORHEALTH FOUNDATION | Scottsdale | E120 Health Care | $29.7M | 8 |
