| State of Arizona | Phoenix | $28.6B | 9 | 170 |
| Grand Canyon University LOW-RISK | Phoenix | $1.4B | 7 | 0 |
| The Navajo Nation | Window Rock | $923.8M | 9 | 110 |
| City of Phoenix, Arizona LOW-RISK | Phoenix | $768.3M | 10 | 5 |
| BANNER HEALTH LOW-RISK | PHOENIX | $538.5M | 9 | 6 |
| GILA RIVER INDIAN COMMUNITY GRANTS FUND | SACATON | $371.4M | 9 | 1 |
| Maricopa County | Phoenix | $358.6M | 10 | 33 |
| GILA RIVER INDIAN COMMUNITY - DEPARTMENT OF TRIBAL PROGRAMS AND ADMIN LOW-RISK | Sacaton | $319.2M | 1 | 1 |
| Maricopa County Community College District | Tempe | $207.2M | 10 | 32 |
| SAN CARLOS APACHE TRIBAL COUNCIL (Department of Governmental Programs and Administration) | SAN CARLOS | $203.3M | 7 | 40 |
| Tuba City Regional Health Care Corporation | Tuba City | $194.2M | 10 | 2 |
| Valley Metro Rail, Inc. LOW-RISK | Phoenix | $157.9M | 10 | 0 |
| City of Tucson, Arizona LOW-RISK | Tucson | $147.6M | 10 | 11 |
| GILA RIVER HEALTH CARE CORPORATION LOW-RISK | SACATON | $142.4M | 10 | 8 |
| NAVAJO HOUSING AUTHORITY | Window Rock | $131.5M | 10 | 32 |
| Chicanos Por La Causa, Inc. and Subsidiaries and Affiliates LOW-RISK | Phoenix | $122.8M | 10 | 11 |
| San Carlos Apache Healthcare Corporation LOW-RISK | Peridot | $109.5M | 10 | 19 |
| Pima County | Tucson | $104.5M | 10 | 9 |
| Raza Development Fund, Inc LOW-RISK | Phoenix | $103.5M | 10 | 0 |
| Tohono O'odham Nation Government Services Department | SELLS | $90.6M | 9 | 15 |
| Mesa Unified School District No. 4 LOW-RISK | Mesa | $90.2M | 10 | 2 |
| Phoenix Union High School District No. 210 LOW-RISK | Phoenix | $89.2M | 10 | 7 |
| Fort Defiance Indian Hospital Board, Inc. dba Tséhootsooí Medical Center, Nahat’á Dziil Health Cente | FORT DEFIANCE | $84.8M | 10 | 4 |
| Tucson Unified School District No. 1 | Tucson | $78.8M | 10 | 5 |
| Washington Elementary School District No. 6 | Glendale | $75.5M | 10 | 1 |
| Winslow Indian Health Care Center Inc. LOW-RISK | Winslow | $73.8M | 10 | 1 |
| NAVAJO TRIBAL UTILITY AUTHORITY | FORT DEFIANCE | $69.5M | 2 | 0 |
| St. Mary's Food Bank Alliance and Affiliates LOW-RISK | Phoenix | $68.4M | 10 | 2 |
| White Mountain Apache Tribe Governmental Programs And Administration | Whiteriver | $66.7M | 9 | 66 |
| COMMUNITY BRIDGES, INC | MESA | $64.6M | 10 | 7 |
| City of Mesa LOW-RISK | Mesa | $63.8M | 10 | 1 |
| Cheyenne River Sioux Tribe | Eagle Butte | $60.1M | 9 | 48 |
| Chinle Unified School District No. 24 LOW-RISK | Chinle | $59.2M | 10 | 5 |
| Pima County Community College District | Tucson | $57.2M | 10 | 8 |
| Yuma County | Yuma | $54.9M | 10 | 7 |
| Pinal County | Florence | $54.1M | 9 | 21 |
| Mercy Care LOW-RISK | Phoenix | $52.5M | 9 | 0 |
| Catholic Charities Community Services, Inc. | Phoenix | $52.4M | 10 | 16 |
| City of Glendale, Arizona | Glendale | $51.5M | 11 | 2 |
| City of Tempe, Arizona LOW-RISK | Tempe | $47.3M | 10 | 16 |
| COLORADO RIVER INDIAN TRIBES GOVERNMENT SERVICES DEPARTMENT | Parker | $46.0M | 9 | 14 |
| CHILD-PARENT CENTERS, INC. LOW-RISK | TUCSON | $44.9M | 10 | 2 |
| Coconino County | Flagstaff | $43.4M | 3 | 4 |
| WHITERIVER UNIFIED SCHOOL DISTRICT 20 | WHITERIVER | $41.4M | 10 | 10 |
| County of Yavapai | Prescott | $41.2M | 10 | 8 |
| Deer Valley Unified School District No. 97 | Phoenix | $40.0M | 10 | 2 |
| Regional Center for Border Health, Inc. | Somerton | $37.9M | 10 | 1 |
| Peoria Unified School District No. 11 LOW-RISK | Glendale | $36.0M | 10 | 1 |
| Paradise Valley Unified School District No. 69 LOW-RISK | Phoenix | $35.7M | 10 | 0 |
| Hualapai Tribe Governmental Services Department | Peach Springs | $34.2M | 9 | 14 |
| Cartwright Elementary School District No. 83 LOW-RISK | Phoenix | $33.4M | 10 | 8 |
| City of Chandler, Arizona LOW-RISK | Chandler | $33.0M | 10 | 0 |
| Northern Arizona Council of Governments LOW-RISK | Flagstaff | $32.9M | 10 | 0 |
| Alhambra Elementary School District No. 68 LOW-RISK | Phoenix | $30.3M | 10 | 1 |
| Tucson Airport Authority | Tucson | $29.6M | 9 | 0 |
| Arizona Behavioral Health Corporation | Phoenix | $28.7M | 9 | 7 |
| WINDOW ROCK UNIFIED SCHOOL DISTRICT NO. 8 | Fort Defiance | $28.4M | 10 | 13 |
| The Hopi Tribe - Government Services Department | KYKOTSMOVI | $28.2M | 7 | 39 |
| COMMUNITY INVESTMENT CORPORATION | TUCSON | $28.2M | 3 | 0 |
| COCONINO COUNTY | FLAGSTAFF | $28.1M | 7 | 11 |
| Mohave County, Arizona LOW-RISK | Kingman | $27.7M | 10 | 7 |
| MERCY MARICOPA INTEGRATED CARE LOW-RISK | PHOENIX | $27.5M | 3 | 0 |
| Yuma/La Paz Counties Community College District (Arizona Western College) | Yuma | $27.4M | 10 | 4 |
| WESTERN ARIZONA COUNCIL OF GOVERNMENTS LOW-RISK | Yuma | $27.3M | 9 | 0 |
| Sun Life Family Health Center, Inc. | Casa Grande | $27.2M | 10 | 2 |
| Area Agency on Aging, Region One, Inc. LOW-RISK | Phoenix | $27.1M | 10 | 0 |
| Chandler Unified School District No. 80 LOW-RISK | Chandler | $27.0M | 10 | 3 |
| Sunnyside Unified School District No. 12 | Tucson | $26.9M | 10 | 6 |
| MARICOPA COUNTY SPECIAL HEALTH CARE DISTRICT | PHOENIX | $26.7M | 10 | 10 |
| Valley Metro Regional Public Transportation Authority | Phoenix | $26.6M | 10 | 0 |
| Glendale Elementary School District No. 40 LOW-RISK | Glendale | $26.3M | 10 | 0 |
| DINE COLLEGE | TSAILE | $26.2M | 2 | 6 |
| Community Food Bank, Inc. LOW-RISK | Tucson | $26.0M | 10 | 0 |
| PONCA TRIBE OF OKLAHOMA | PONCA CITY | $25.9M | 10 | 45 |
| INTER-TRIBAL COUNCIL OF ARIZONA, INC LOW-RISK | PHOENIX | $25.6M | 9 | 0 |
| WESTERN ARIZONA COUNCIL OF GOVERNMENTS LOW-RISK | Yuma | $25.3M | 2 | 1 |
| Sonoran University of Health Sciences LOW-RISK | Tempe | $25.0M | 10 | 10 |
| HonorHealth LOW-RISK | Scottsdale | $24.7M | 9 | 5 |
| Glendale Union High School District No. 205 | Glendale | $24.5M | 10 | 1 |
| KAYENTA UNIFIED SCHOOL DISTRICT NO. 27 | Kayenta | $23.7M | 10 | 9 |
| TOHONO O'ODHAM COMMUNITY COLLEGE LOW-RISK | SELLS | $23.6M | 10 | 3 |
| Roosevelt Elementary School District No. 66 LOW-RISK | Phoenix | $23.4M | 10 | 12 |
| AMERICAN CONSERVATION EXPERIENCE LOW-RISK | FLAGSTAFF | $23.4M | 10 | 1 |
| Northern Arizona Intergovernmental Public Transportation Authority | Flagstaff | $23.0M | 10 | 3 |
| Mesa Gateway Airport Authority LOW-RISK | Mesa | $22.8M | 10 | 1 |
| TUBA CITY UNIFIED SCHOOL DISTRICT NO.15 | TUBA CITY | $22.7M | 10 | 3 |
| Dysart Unified School District No. 89 LOW-RISK | Surprise | $22.3M | 10 | 4 |
| Southwest Human Development, Incorporated LOW-RISK | Phoenix | $22.2M | 10 | 0 |
| Phoenix Elementary School District No. 1 | Phoenix | $22.2M | 9 | 2 |
| Gilbert Unified School District No. 41 | Gilbert | $22.1M | 10 | 2 |
| Northern Arizona Senior Living Community, LLC | Flagstaff | $22.0M | 5 | 0 |
| City of Scottsdale, Arizona | Scottsdale | $22.0M | 10 | 9 |
| City of Flagstaff, Arizona LOW-RISK | Flagstaff | $21.7M | 10 | 1 |
| White Mountain Apache Housing Authority LOW-RISK | WHITERIVER | $21.5M | 10 | 0 |
| City of Surprise, Arizona LOW-RISK | Surprise | $21.1M | 10 | 5 |
| Child Crisis Arizona | Mesa | $20.8M | 11 | 0 |
| Solari Crisis and Human Services LOW-RISK | Tempe | $20.7M | 6 | 0 |
| VISIONQUEST NATIONAL, LTD. & SUBSIDIARIES & VISIONQUEST NONPROFIT CORP GOING CONCERN | TUCSON | $20.7M | 5 | 19 |
| Creighton Elementary School District No. 14 LOW-RISK | Phoenix | $20.5M | 10 | 4 |
| Tempe Elementary School District No. 3 LOW-RISK | Tempe | $20.2M | 10 | 0 |
| El Rio Santa Cruz Neighborhood Health Center Inc. | TUCSON | $20.0M | 10 | 2 |
| Pendergast Elementary School District No. 92 | Phoenix | $19.9M | 10 | 2 |
| Mountain Park Health Center | Phoenix | $19.6M | 10 | 3 |
| Hopi Utilities Corporation | Flagstaff | $19.3M | 5 | 0 |
| A New Leaf, Inc and Affiliates LOW-RISK | Mesa | $19.1M | 10 | 7 |
| Critical Path Institute LOW-RISK | Tucson | $18.7M | 10 | 4 |
| Yuma Elementary School District No. 1 | Yuma | $18.5M | 10 | 2 |
| NAVAJOLAND NURSING HOMES, INC. DBA CHINLE NURSING HOME | CHINLE | $18.5M | 3 | 1 |
| YAVAPAI-APACHE NATION GOVERNMENTAL SERVICES DEPARTMENT LOW-RISK | CAMP VERDE | $18.1M | 9 | 8 |
| San Carlos Unified School District No. 20 LOW-RISK | San Carlos | $18.0M | 10 | 4 |
| Yuma Union High School District No. 70 LOW-RISK | Yuma | $17.5M | 10 | 3 |
| Maricopa Association of Governments LOW-RISK | Phoenix | $17.4M | 10 | 2 |
| EMPACT-Suicide Prevention Center GOING CONCERNLOW-RISK | TEMPE | $17.1M | 9 | 0 |
| Arizona Association of Community Health Centers, Inc LOW-RISK | Phoenix | $17.1M | 10 | 2 |
| Tolleson Union High School District No. 214 | Tolleson | $16.7M | 10 | 1 |
| Amphitheater Unified School District No 10 | Tucson | $16.6M | 10 | 3 |
| ARIZONA HOUSING, INC. | PHOENIX | $16.6M | 8 | 1 |
| ISAAC ELEMENTARY DISTRICT NO. 5 GOING CONCERN | Phoenix | $16.5M | 11 | 16 |
| Planetary Science Institute LOW-RISK | Tucson | $16.5M | 11 | 0 |
| Native Health DBA Native American Community Health Center LOW-RISK | Phoenix | $16.3M | 10 | 9 |
| Housing Authority of the City of Yuma | Yuma | $16.1M | 10 | 0 |
| Yavapai County Community College District LOW-RISK | Prescott | $16.0M | 10 | 1 |
| City of Yuma, Arizona | Yuma | $15.6M | 10 | 1 |
| CIBECUE COMMUNITY EDUCATION BOARD, INC. DBA DISHCHII'BIKOH COMM SCHOOL | CIBECUE | $15.6M | 10 | 33 |
| GANADO UNIFIED SCHOOL DISTRICT NO. 20 | GANADO | $15.5M | 10 | 4 |
| Scottsdale Unified School District No. 48 LOW-RISK | Scottsdale | $15.4M | 11 | 2 |
| Gadsden Elementary School District No. 32 | San Luis | $15.3M | 10 | 3 |
| Vitalant LOW-RISK | Scottsdale | $15.3M | 9 | 1 |
| Page Unified School District No. 8 | Page | $15.1M | 10 | 6 |
| Parker Unified School District No. 27 | Parker | $15.0M | 10 | 2 |
| PINALGILA COMMUNITY CHILD SERVICES INC LOW-RISK | Casa Grande | $15.0M | 10 | 0 |
| Town of Queen Creek, Arizona LOW-RISK | Queen Creek | $14.8M | 6 | 0 |
| Marana Health Center, Inc. | Marana | $14.8M | 10 | 4 |
| Cochise County | Bisbee | $14.8M | 10 | 3 |
| Holbrook Unified School District No. 3 LOW-RISK | Holbrook | $14.5M | 10 | 8 |
| KINGMAN UNIFIED SCHOOL DISTRICT NO.20 | KINGMAN | $14.4M | 10 | 2 |
| Ak-Chin Indian Community | Maricopa | $14.3M | 6 | 0 |
| Prescott College LOW-RISK | Prescott | $14.3M | 10 | 10 |
| DEAFLEAD LOW-RISK | COLUMBIA | $14.0M | 8 | 0 |
| City of Prescott LOW-RISK | Prescott | $14.0M | 10 | 0 |
| Douglas Unified School District No. 27 LOW-RISK | Douglas | $13.8M | 10 | 1 |
| Pinon Unified School District No. 4 | Pinon | $13.8M | 10 | 4 |
| COMMUNITY HOSPITAL ASSOCIATION INC | WICKENBURG | $13.7M | 7 | 5 |
| Terros Inc | Phoenix | $13.6M | 10 | 1 |
| Nogales Unified School District No. 1 | Nogales | $13.6M | 10 | 1 |
| Navajo County | Holbrook | $13.4M | 10 | 21 |
| Avondale Elementary School District No. 44 LOW-RISK | Avondale | $13.3M | 10 | 4 |
| North County Healthcare Inc LOW-RISK | Flagstaff | $13.3M | 9 | 4 |
| Winslow Memorial Hospital D/B/A Little Colorado Medical Center | Winslow | $12.8M | 5 | 7 |
| SUMMIT HEALTHCARE ASSOCIATION | SHOW LOW | $12.6M | 2 | 1 |
| Pinal County Community College District | Coolidge | $12.3M | 9 | 20 |
| Florence Unified School District No. 1 | Florence | $12.3M | 88 | 32 |
| Marana Unified School District No. 6 | Marana | $12.2M | 10 | 0 |
| Flagstaff Unified School District No. 1 LOW-RISK | Flagstaff | $12.1M | 10 | 4 |
| Lutheran Social Services of the Southwest | Phoenix | $12.1M | 10 | 8 |
| Adelante Healthcare, Inc. LOW-RISK | Phoenix | $12.1M | 9 | 2 |
| MOHAVE COUNTY COMMUNITY COLLEGE DISTRICT | KINGMAN | $11.9M | 11 | 2 |
| Northern Arizona Healthcare Corporation | Flagstaff | $11.8M | 3 | 0 |
| Cochise County Community College District | Sierra Vista | $11.8M | 10 | 8 |
| Town of Gilbert, Arizona LOW-RISK | Gilbert | $11.8M | 10 | 2 |
| COCOPAH INDIAN TRIBE | SOMERTON | $11.6M | 7 | 19 |
| Crane Elementary School District No. 13 | Yuma | $11.6M | 12 | 4 |
| Laveen Elementary School District No. 59 LOW-RISK | Laveen | $11.0M | 10 | 0 |
| SANDERS UNIFIED SCHOOL DISTRICT NO. 18 | Sanders | $11.0M | 10 | 4 |
| Southern Arizona AIDS Foundation LOW-RISK | Tucson | $10.9M | 10 | 0 |
| Arizona Christian University | Glendale | $10.7M | 10 | 43 |
| Casa Grande Elementary School District No. 4 LOW-RISK | Casa Grande | $10.7M | 10 | 2 |
| Christian Care Manor II, Inc. LOW-RISK | Phoenix | $10.7M | 10 | 0 |
| Pima Council on Aging GOING CONCERN | Tucson | $10.6M | 6 | 13 |
| Pima Association of Governments LOW-RISK | Tucson | $10.5M | 8 | 0 |
| Salt River Pima-Maricopa Indian Community School LOW-RISK | Scottsdale | $10.5M | 20 | 4 |
| Phoenix Gospel Mission, Inc. DBA Phoenix Rescue Mission | Phoenix | $10.5M | 8 | 6 |
| PORTABLE PRACTICAL EDUCATIONAL PREPARATION, INC. LOW-RISK | TUCSON | $10.4M | 10 | 1 |
| FORT MCDOWELL YAVAPAI NATION LOW-RISK | FOUNTAIN HILLS | $10.3M | 10 | 1 |
| Littleton Elementary School District No. 65 LOW-RISK | Cashion | $10.2M | 10 | 0 |
| Quechan Indian Tribe LOW-RISK | Yuma | $10.2M | 9 | 22 |
| Intermountain Centers for Human Development, Inc. and Subsidiaries | Tucson | $10.1M | 8 | 6 |
| Academy of Mathematics and Science South, Inc. LOW-RISK | Tucson | $10.1M | 8 | 1 |
| Flowing Wells Unified School District No. 8 | Tucson | $10.1M | 10 | 1 |
| ARIZONA CENTER FOR NATURE CONSERVATION | PHOENIX | $10.1M | 1 | 0 |
| MANY FARMS COMMUNITY SCHOOL | MANY FARMS | $10.0M | 10 | 19 |
| The Phoenix Theatre Company and Subsidiary | Phoenix | $10.0M | 2 | 0 |
| Queen Creek Unified School District No. 95 LOW-RISK | Queen Creek | $10.0M | 10 | 1 |
| Maricopa Unified School District No. 20 LOW-RISK | Maricopa | $10.0M | 10 | 0 |
| Gila County | Globe | $9.9M | 10 | 24 |
| Yuma Private Industry Council LOW-RISK | Yuma | $9.9M | 10 | 2 |
| Rock Point Community School, Inc. LOW-RISK | Rock Point | $9.8M | 10 | 6 |
| Hopi Junior/Senior High School | Keams Canyon | $9.8M | 6 | 19 |
| Southwest Behavioral Health Services, Inc. and Subsidiaries | Phoenix | $9.7M | 9 | 4 |
| BABOQUIVARI UNIFIED SCHOOL DISTRICT NO. 40 | SELLS | $9.7M | 10 | 11 |
| EQUALITY COMMUNITY HOUSING CORPORATION LOW-RISK | Glendale | $9.7M | 19 | 2 |
| City of San Luis, Arizona LOW-RISK | San Luis | $9.7M | 8 | 1 |
| Chiricahua Community Health Center Inc | Douglas | $9.5M | 10 | 4 |
| Kyrene Elementary School District No. 28 | Tempe | $9.4M | 10 | 1 |
| Winslow Unified School District No. 1 | Winslow | $9.4M | 10 | 3 |
| LUKACHUKAI COMMUNITY SCHOOL | Lukachukai | $9.3M | 10 | 16 |
| BIG PARK DOMESTIC WASTE WATER IMPROVEMENT DISTRICT | PRESCOTT | $9.3M | 1 | 2 |
| City of Page LOW-RISK | Page | $9.3M | 9 | 0 |
| FORT THOMAS UNIFIED SCHOOL DISTRICT NO. 7 | FORT THOMAS | $9.3M | 10 | 1 |
| Fowler Elementary School District No. 45 | Phoenix | $9.3M | 10 | 3 |
| Catholic Community Services of Southern Arizona, Inc. LOW-RISK | Tucson | $9.2M | 10 | 6 |
| Native American Connections, Inc. | Phoenix | $9.2M | 9 | 4 |
| Casa Blanca Community School, Inc. LOW-RISK | Bapchule | $9.2M | 10 | 14 |
| GREATER PHOENIX URBAN LEAGUE | Pheonix | $9.1M | 9 | 8 |
| NEIGHBORHOOD MINISTRIES, INC. AND SUBSIDIARY LOW-RISK | PHOENIX | $9.1M | 6 | 2 |
| AK-CHIN INDIAN COMMUNITY LOW-RISK | MARICOPA | $9.0M | 3 | 3 |
| SHONTO GOVERNING BOARD OF EDUCATION, INC. | SHONTO | $9.0M | 7 | 7 |
| Tempe Union High School District No. 213 | Tempe | $9.0M | 10 | 0 |
| COMMUNITY LEGAL SERVICES LOW-RISK | PHOENIX | $8.8M | 10 | 13 |
| SAN CARLOS HOUSING AUTHORITY | PERIDOT | $8.8M | 3 | 11 |
| UMOM New Day Centers, Inc and Subsidiaries LOW-RISK | Phoenix | $8.8M | 10 | 4 |
| SHONTO GOVERNING BOARD OF EDUCATION, INC. LOW-RISK | SHONTO | $8.7M | 3 | 1 |
| Legacy Traditional School - North Chandler LOW-RISK | Chandler | $8.7M | 6 | 2 |
| Apache Junction Sewer District | Apache Junction | $8.6M | 1 | 0 |
| Rough Rock Community School, Inc. | Chinle | $8.6M | 10 | 15 |
| Santa Cruz County | Nogales | $8.6M | 8 | 8 |
| Humboldt Unified School District No. 22 LOW-RISK | Prescott Valley | $8.5M | 10 | 1 |
| Housing Solutions of Northern Arizona, Inc, and Subsidiaries LOW-RISK | Flagstaff | $8.5M | 10 | 0 |
| Gila Crossing Community School | Laveen | $8.5M | 10 | 33 |
| SACATON ELEMENTARY SCHOOL DISTRICT NO. 18 LOW-RISK | Sacaton | $8.4M | 8 | 0 |
| NEWTOWN COMMUNITY DEVELOPMENT CORPORATION LOW-RISK | Tempe | $8.4M | 7 | 0 |
| Coconino County Community College District LOW-RISK | Flagstaff | $8.4M | 10 | 2 |
| BLACKWATER COMMUNITY SCHOOL | COOLIDGE | $8.4M | 10 | 1 |
| GREASEWOOD SPRINGS COMMUNITY SCHOOL INC LOW-RISK | GANADO | $8.2M | 10 | 5 |
| LOCAL FIRST ARIZONA FOUNDATION LOW-RISK | PHOENIX | $8.1M | 4 | 1 |
| CITY OF PEORIA, ARIZONA LOW-RISK | PEORIA | $8.1M | 10 | 0 |
| OSBORN ELEMENTARY SCHOOL DISTRICT NO. 8 LOW-RISK | Phoenix | $8.1M | 10 | 4 |
| Valley of the Sun United Way LOW-RISK | Phoenix | $7.9M | 8 | 1 |
| Christian Housing Mesa, Inc. LOW-RISK | Phoenix | $7.9M | 10 | 1 |
| PARK VILLA CASITAS DBA BLANCHE JOHNSON COURTYARDS LOW-RISK | TUCSON | $7.9M | 10 | 0 |
| Canyonlands Community Health Care LOW-RISK | Page | $7.8M | 10 | 1 |
| ARIZONA ASSOCIATION OF CONSERVATION DISTRICTS INC LOW-RISK | Tempe | $7.8M | 4 | 0 |
| Somerton Elementary School District No. 11 LOW-RISK | Somerton | $7.8M | 10 | 1 |
| City of Apache Junction, Arizona | Apache Junction | $7.7M | 8 | 0 |
| American Charter Schools Foundation LOW-RISK | Phoenix | $7.7M | 6 | 6 |
| Buckeye Elementary School District No. 33 LOW-RISK | Buckeye | $7.7M | 10 | 1 |
| City of Maricopa, Arizona | Maricopa | $7.7M | 7 | 0 |
| Edkey, Inc. GOING CONCERN | Mesa | $7.6M | 10 | 16 |
| TMC HEALTHCARE | Tucson | $7.5M | 3 | 1 |
| CASITAS ON EAST BROADWAY LOW-RISK | TUCSON | $7.5M | 10 | 0 |
| Yuma Community Food Bank LOW-RISK | Yuma | $7.5M | 9 | 4 |
| Litchfield Elementary School District No. 79 LOW-RISK | Litchfield Park | $7.5M | 10 | 1 |
| Vail Unified School District No. 20 | Vail | $7.4M | 10 | 2 |
| Kaizen Education Foundation LOW-RISK | Phoenix | $7.3M | 6 | 9 |
| Christian Care Mesa III, Inc LOW-RISK | Phoenix | $7.2M | 10 | 0 |
| Bullhead City School District No. 15 | Bullhead City | $7.2M | 10 | 1 |
| San Carlos Apache Telecommunications Utility, Inc LOW-RISK | Peridot | $7.2M | 10 | 1 |
| Childhelp Inc. LOW-RISK | Scottsdale | $7.2M | 10 | 4 |
| B'NAI B'RITH PANTANO GARDENS, INC. LOW-RISK | TUCSON | $7.1M | 10 | 0 |
| PINOLEVILLE POMO NATION | Ukiah | $7.1M | 9 | 5 |
