Air Force Academy Foundation
- Assets
- $121.9m
- Revenue
- $31.2m
- Investments
- $0.0
- Employees
- 34
- Location
- USAF Academy, CO
- Founding
- 03/2008
- Data as of
- 12/2021
- EIN
- 26-0537053
Organization Overview
Air Force Academy Foundation is located in USAF Academy, CO. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Air Force Academy Foundation employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Air Force Academy Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Air Force Academy Foundation generated $31.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $15.8m during the year ending 12/2021. While expenses have increased by 2.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Air Force Academy Foundation has awarded 19 individual grants totaling $38,981,355. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EFFICIENT AND PERPETUAL STEWARDSHIP OF DONATED GIFTS TO THE US AIR FORCE ACADEMY TO ENSURE THEIR PERMANENCY AND EFFICACY IN ACCORDANCE WITH THE DONORS' INTENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT FOR ACADEMIC, ATHLETIC AND CHARACTER AND LEADERSHIP DEVELOPMENT PROGRAMS OF THE UNITED STATES AIR FORCE ACADEMY IN COLORADO SPRINGS, COLORADO.
DIRECT SUPPORT FOR GRADUATE PROGRAMS OF THE ASSOCIATION OF GRADUATES OF THE UNITED STATES AIR FORCE ACADEMY (THE "AOG"), INCLUDING INDIRECT SUPPORT OF THE AOG'S ACADEMIC, ATHLETIC AND CHARACTER AND LEADERSHIP DEVELOPMENT PROGRAMS OF THE UNITED STATES AIR FORCE ACADEMY IN COLORADO SPRINGS, COLORADO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Hille President | OfficerTrustee | 40 | $287,716 |
Dennis Scruggs Chief Financial Officer | Officer | 40 | $189,178 |
Gregory Knedler Vice President, Class & Consti | Officer | 40 | $154,256 |
Christopher Brewer Vice President, Development | Officer | 40 | $150,114 |
Roger Smith Vice President, Stewardship | Officer | 40 | $147,538 |
Michael C Gould Chief Executive Officer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
21st Century Defense Strategies Johnson Chair | 12/30/21 | $250,663 |
Ruffalo Cody Holdings Llc Prof. Fundraising | 12/30/21 | $163,660 |
Douglas R Lindsay Jcld Editor | 12/30/21 | $153,058 |
James J Nance Sculptor Artist | 12/30/21 | $305,000 |
Blackdog Critical Facilities Project Management | 12/30/21 | $184,080 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $644,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,573,857 |
| Noncash contributions included in lines 1a–1f | $3,638,663 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,218,457 |
| Total Program Service Revenue | $0 |
| Investment income | $922,386 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,534 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,160,927 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,303,412 |
| Grants and other assistance to domestic individuals. | $4,540 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,056,905 |
| Compensation of current officers, directors, key employees. | $289,460 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,861,178 |
| Pension plan accruals and contributions | $98,888 |
| Other employee benefits | $215,014 |
| Payroll taxes | $193,469 |
| Fees for services: Management | $1,630,133 |
| Fees for services: Legal | $33,966 |
| Fees for services: Accounting | $34,723 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $138,045 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $270,227 |
| Office expenses | $54,682 |
| Information technology | $68,794 |
| Royalties | $0 |
| Occupancy | $12,532 |
| Travel | $123,852 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40,198 |
| Interest | $2,232 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,953 |
| Insurance | $15,466 |
| All other expenses | $92,223 |
| Total functional expenses | $15,838,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $23,249,938 |
| Pledges and grants receivable | $27,223,984 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $127,582 |
| Net Land, buildings, and equipment | $159,313 |
| Investments—publicly traded securities | $70,503,867 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $645,047 |
| Total assets | $121,910,731 |
| Accounts payable and accrued expenses | $876,564 |
| Grants payable | $7,741,303 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,681,910 |
| Total liabilities | $10,299,777 |
| Net assets without donor restrictions | $3,223,126 |
| Net assets with donor restrictions | $108,387,828 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $121,910,731 |
Grants Awarded
Over the last fiscal year, Air Force Academy Foundation has awarded $11,210,915 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED STATES AIR FORCE ACADEMY PURPOSE: See Part IV | $9,917,323 |
USAF Academy, CO PURPOSE: See Part IV | $868,491 |
Usafa, CO PURPOSE: See Part IV | $408,971 |
USAF Academy, CO PURPOSE: See Part IV | $16,130 |
Grants Recieved
Over the last fiscal year, we have identified 45 grants that Air Force Academy Foundation has recieved totaling $1,666,043.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $1,076,337 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $137,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $100,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $65,029 |
Rancho Santa Fe Foundation Rancho Santa Fe, CA PURPOSE: MILITARY | $50,000 |
The Detroit Athletic Club Foundation Detroit, MI PURPOSE: ADVANCEMENT OF THE ACADEMIES BOXING PROGRAM | $49,407 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gates Family Foundation Denver, CO | $458,247,303 | $68,267,243 |
Buffett Early Childhood Fund Omaha, NE | $9,728,090 | $31,407,344 |
Anne And Henry Zarrow Foundation Tulsa, OK | $347,173,230 | $36,385,260 |
Jon And Karen Huntsman Foundation Salt Lake City, UT | $0 | $68,260,311 |
El Pomar Foundation Colorado Springs, CO | $452,441,260 | $71,471,160 |
George S Eccles And Delores Dore Eccles Foundation Salt Lake City, UT | $0 | $176,040,595 |
The Lozier Foundation Omaha, NE | $440,536,134 | $84,469,210 |
Catena Foundation Carbondale, CO | $397,661,850 | $217,833,912 |
People-People-People Foundation Dated 4-19-2018 Scottsdale, AZ | $10,000,014 | $37,338,865 |
Bob And Renee Parsons Foundation Scottsdale, AZ | $28,086,912 | $26,506,603 |
Temple Hoyne Buell Foundation Denver, CO | $377,422,437 | $27,172,510 |
Dane G Hansen Foundation Logan, KS | $0 | $32,718,108 |