Friends Of The Air Force Academy Library
- Assets
- $1.4m
- Revenue
- $26.9k
- Investments
- $0.0
- Employees
- 0
- Location
- US Air Force Academy, CO
- Founding
- 06/1987
- Data as of
- 06/2023
- EIN
- 74-2457526
Organization Overview
Friends Of The Air Force Academy Library is located in US Air Force Academy, CO. The organization was established in 1987. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Air Force Academy Library 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 06/2023, Friends Of The Air Force Academy Library generated $26.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $134.4k during the year ending 06/2023. While expenses have increased by 7.6% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE THE QUALITY OF THE USAFA'S MCDERMOTT LIBRARY BEYOND THAT MADE POSSIBLE BY USAF FUNDS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE USAF ACADEMY'S MCDERMOTT LIBRARY HAS BENEFITTED BY THE ORGANIZATION'S EFFORTS IN COLLECTION, PRESERVATION, CONSERVATION, AND DOCUMENTATION OF PERTINENT HISTORICAL DOCUMENTS, AUDIO VISUAL MATERIALS, PHOTOGRAPHS, AND SRTIFACTS, AS WELL AS PURCHASE OF BOOKS AND ARTIFACTS. SPECIFICALLY, THE ORGANIZATION HAS IDENTIFIED AND RESTORED FRAGILE AUDIO AND VISUAL MEDIA FOUND IN THE LIBRARY, HELPED DIGITIZE ARCHIVAL MATERIALS, AND ESTABLISHED A DEDICATED FACILITY FOR SUCH MATERIALS WITHIN SPECIAL COLLECTIONS. WE HAVE DEVELOPED, EDITED, AND UPLOADED FINDING AIDS TO THE LIBRARY'S SEARCHABLE DATABASE, MAKING MANY COLLECTIONS NOW SEARCHABLE ONLINE. IN ADDITION, THE ORGANIZATION SOLICITED, RECEIVED, PROCESSED, AND GIFTED TO THE MCDERMOTT LIBRARY SEVERAL VALUABLE HISTORICAL COLLECTIONS, UPDATED A COMPLETE SET OF GUIDELINES FOR ALL PHASES OF ACCESS, DIGITIZING, ARCHIVING, AND PRODUCING SEARCHABLE FINDING AIDS FOR DONATED COLLECTIONS. THE ORGANIZATION'S WEBSITE HAS BEEN UPDATED AND REFLECTS CURRENT CONTENT, INCLUDING A CELEBRATION OF THE UNITED STATES AIR FORCE'S 75TH ANNIVERSARY. AND FINALLY, THE ORGANIZATION AWARDED TWO CLARK-YUDKIN RESEARCH FELLOWSHIPS TO SCHOLARS WHO USED THE SPECIAL COLLECTIONS' EAGLE SQUADRON AND SPACE SHUTTLE CHALLENGER RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert Batten Director | Trustee | 0.25 | $0 |
Steve G Green Director | Trustee | 0.25 | $0 |
Mark Wells Director | Trustee | 1 | $0 |
Steven A Simon Director | Trustee | 1 | $0 |
James R W Titus Director | Trustee | 1.25 | $0 |
Michael Smith Director | Trustee | 0.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,647 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,647 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,879 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $7,743 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,511 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,185 |
| Information technology | $2,644 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,557 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $944 |
| Total functional expenses | $134,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,169 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,376,036 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,407,205 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,407,205 |
| Net assets with donor restrictions | $0 |
| 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 | $1,407,205 |