Aed Foundation Inc
- Assets
- $9.7m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Schaumburg, IL
- Founding
- 01/1992
- Data as of
- 12/2023
- EIN
- 36-3784945
Organization Overview
Aed Foundation Inc is located in Schaumburg, IL. The organization was established in 1992. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Aed Foundation Inc 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 12/2023, Aed Foundation Inc generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 21.4% each year . All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 11.9% per year over the past 9 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
THE AED FOUNDATION ENHANCES THE SUCCESS OF AED MEMBER COMPANIES BY ENCOURAGING CONTINUOUS LEARNING, PROVIDING EDUCATIONAL OPPORTUNITIES FOR TODAY'S EMPLOYEES AND IMPROVING THE QUANTITY AND QUALITY OF AVAILABLE EMPLOYEES FOR THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AED FOUNDATION PROVIDED MANAGEMENT LEVEL EDUCATIONAL SEMINARS AND WEBINARS FOR INDUSTRY EMPLOYEES TO IMPROVE THEIR PROFESSIONAL SKILLS AND LEADERSHIP ABILITIES IN AREAS INCLUDING SALES, RENTAL, CUSTOMER MANAGEMENT, FINANCE, PARTS, SERVICE, PRODUCT SUPPORT, HUMAN RESOURCES AND BRANCH MANAGEMENT. INDEPENDENT STUDY PROGRAM - THE INDEPENDENT STUDY PROGRAM IS A FUNCTION OF PROFESSIONAL EDUCATION AND IS A MEANS OF EDUCATING MANAGERS WITHOUT REQUIRING THEM TO LEAVE THE OFFICE OR HOME. SEVENTEEN AVAILABLE COURSE MODULES OFFER INDUSTRY-SPECIFIC MANAGEMENT EDUCATION IN PEOPLE MANAGEMENT AND SKILLS, SALES & CUSTOMER MANAGEMENT, AND THE FUNCTIONAL AREAS OF: PARTS, SERVICE, FINANCE AND RENTAL.
IMAGE BUILDING - IMAGE BUILDING IS A FUNCTION OF WORKFORCE DEVELOPMENT AND INCLUDES THE AEDCAREERS.COM STUDENT RECRUITMENT WEBSITE, RECRUITMENT TOOLS OFFERED TO DEALERS ON AEDWORKFORCE.COM, AND INTER-ORGANIZATIONAL COALITIONS GEARED TOWARD INCREASING AWARENESS AND INTEREST IN CONSTRUCTION RELATED CAREERS. TEAM FORMATION & SUPPORT - TEAM FORMATION & SUPPORT IS ALSO A FUNCTION OF WORKFORCE DEVELOPMENT AND INCLUDES AED ACCREDITATION OF POST-SECONDARY COLLEGE ACADEMIC PROGRAMS IN EQUIPMENT TECHNOLOGY, RECOGNITION OF OTHER POST-SECONDARY TECHNICAL PROGRAMS VIA THE AED RECOGNIZED <STATE> EDUCATION ALLIANCE PROGRAM, AED RECOGNITION OF HIGH SCHOOL TECHNICAL PROGRAMS, AND PROMOTING LOCAL DEALER ENGAGEMENT IN LOCAL WORKFORCE DEVELOPMENT INITIATIVES. THESE PROGRAMS ARE SERVICES AND DO NOT GENERATE INCOME TO THE FOUNDATION, EXCEPT IN THE CASES OF SCHOOL ACCREDITATION AND THE EDUCATION ALLIANCE, WHERE A NOMINAL APPLICATION FEE IS REQUIRED TO HELP DEFRAY ADMINISTRATIVE COSTS. THE FOUNDATION CONTINUES TO STRESS THE IMPORTANCE OF WORKFORCE DEVELOPMENT PROJECTS, INCREASING THE VISIBILTIY OF INDUSTRY RELATED CAREERS THROUGH TWO WEBSITES: AEDWORKFORCE.COM AND AEDCAREERS.COM. TECHNICIAN JOB APPLICANTS AND DEALER WORKFORCE RECRUITMENT TOOLS ARE MADE AVAILABLE FOR LOCAL DEALER INITIATIVES ON AEDWORKFORCE.COM. AEDCAREERS.COM PROVIDES STUDENTS WITH THE OPPORTUNITY TO THOROUGHLY EXPLORE THE DEALER EQUIPMENT TECHNICIAN CAREER OPPORTUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy J Watters Chairman | OfficerTrustee | 5 | $0 |
Diane Benck Vice Chair | OfficerTrustee | 5 | $0 |
Darren Grahsl Treasurer | OfficerTrustee | 5 | $0 |
Jeffrey Scott Past Chairman | Trustee | 5 | $0 |
Jerry Donlon Aed Representative | OfficerTrustee | 5 | $0 |
Michael Brennan Director | Trustee | 5 | $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 | $3,306,495 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,306,495 |
| Total Program Service Revenue | $757,705 |
| Investment income | $99,595 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$24,091 |
| Net Income from Fundraising Events | $198,177 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,338,669 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $31,711 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $170,359 |
| Compensation of current officers, directors, key employees. | $17,036 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $546,693 |
| Pension plan accruals and contributions | $28,895 |
| Other employee benefits | $59,660 |
| Payroll taxes | $59,569 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,702 |
| Fees for services: Accounting | $24,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,683 |
| Fees for services: Other | $293,708 |
| Advertising and promotion | $2,920 |
| Office expenses | $22,513 |
| Information technology | $108,697 |
| Royalties | $0 |
| Occupancy | $56,640 |
| Travel | $93,509 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $216,008 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,680 |
| Insurance | $14,494 |
| All other expenses | $8,905 |
| Total functional expenses | $1,940,478 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,455,479 |
| Savings and temporary cash investments | $1,065,310 |
| Pledges and grants receivable | $2,342,637 |
| Accounts receivable, net | $68,863 |
| 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 | $15,045 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,122,924 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $628,503 |
| Total assets | $9,698,761 |
| Accounts payable and accrued expenses | $15,172 |
| Grants payable | $0 |
| Deferred revenue | $269,000 |
| 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 | $284,172 |
| Net assets without donor restrictions | $7,034,392 |
| Net assets with donor restrictions | $2,380,197 |
| 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 | $9,698,761 |