Und Aerospace Foundation
- Assets
- $96.2m
- Revenue
- $22.9m
- Investments
- $242.0k
- Employees
- 185
- Location
- Grand Forks, ND
- Founding
- 01/2001
- Data as of
- 06/2023
- EIN
- 45-0390485
Organization Overview
Und Aerospace Foundation is located in Grand Forks, ND. The organization was established in 2001. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Und Aerospace Foundation employed 185 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Und Aerospace 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 06/2023, Und Aerospace Foundation generated $22.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $22.0m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Und Aerospace Foundation has awarded 18 individual grants totaling $1,905,860. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION IN THE FIELD OF AEROSPACE.
Describe the Organization's Program Activity:
THE UND AEROSPACE FOUNDATION (THE FOUNDATION) IS A NORTH DAKOTA NONPROFIT ORGANIZATION ORGANIZED TO ENCOURAGE AND DEVELOP THE UNIVERSITY OF NORTH DAKOTA'S (UND) JOHN D. ODEGARD SCHOOL OF AEROSPACE SCIENCES. THE FOUNDATION'S PRINCIPAL ACTIVITIES CONSIST OF DEVELOPING AND CONDUCTING TRAINING PROGRAMS, RESEARCH AND DEVELOPMENT, AND CONSULTING SERVICES RELATED TO THE AEROSPACE INDUSTRY. THE FOUNDATION'S PRINCIPAL ACTIVITIES ARE LOCATED IN GRAND FORKS, ND, WITH ADDITIONAL FLIGHT TRAINING CENTER LOCATED IN MESA, AZ. AVIATION TRAINING - CLASSROOM, FLIGHT TRAINING, AND SUPPORT SERVICES DELIVERED TO PILOT STUDENTS AT GRAND FORKS CAMPUS, WITH 15,333 FLIGHT TRAINING HOURS DURING THE YEAR.
OTHER PROGRAMS INCLUDE FAA TESTING CENTER, SOFTWARE DEVELOPMENT, AND AEROSPACE MERCHANDISE SALES.
FLIGHT TRAINING CENTERS - FLIGHT TRAINING DELIVERED TO STUDENT PILOTS OUTSIDE OF THE GRAND FORKS CAMPUS, PRIMARILY STUDENTS ENROLLED IN COMMUNITY COLLEGE PROGRAMS. LOCATION IS MESA, ARIZONA AND WITH 28,145 FLIGHT HOURS DURING THE YEAR. CURRENTLY DEVELOPING AN ADDITIONAL LOCATION IN SAUDI ARABIA IN CONJUNCTION WITH THE TAYARAN FLIGHT ACADEMY, PROVIDING TRAINING AND CONSULTING SERVICES.
AIRCRAFT AND SIMULATOR RENTAL - RENTAL RECEIPTS FOR AIRCRAFT AND SIMULATORS FOR USE AT GRAND FORKS CAMPUS FOR FLIGHT TRAINING, PRIMARILY FOR USE WITH THE UNDERGRADUATE STUDENTS ENROLLED AT THE UNIVERSITY OF NORTH DAKOTA. ASSETS INCLUDE AIRCRAFT AND SIMULATORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Pineo Chief Executive Officer | Officer | 40 | $352,429 |
Dana Sande Vice President Of Business | 40 | $262,306 | |
Robert Kraus President | Officer | 5 | $0 |
Cara Miller Chief Financial Officer | Officer | 40 | $185,588 |
Jason Smith Training Manager | 40 | $141,372 | |
Rex Ginder Associated Director Of Flight Ops | 40 | $119,353 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Top Flight Aviation Service Company Professional Services | 6/29/18 | $489,866 |
William Landing Lp Student Apartment Rental | 6/29/18 | $130,848 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $425,306 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $437,806 |
| Total Program Service Revenue | $20,286,841 |
| Investment income | $566,833 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $696,884 |
| Net Gain/Loss on Asset Sales | $688,614 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $98,062 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,926,416 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $124,586 |
| Grants and other assistance to domestic individuals. | $110,617 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $783,007 |
| Compensation of current officers, directors, key employees. | $783,007 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,532,460 |
| Pension plan accruals and contributions | $305,983 |
| Other employee benefits | $656,739 |
| Payroll taxes | $349,778 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,207 |
| Fees for services: Accounting | $47,374 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,817,738 |
| Advertising and promotion | $89,162 |
| Office expenses | $199,344 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $391,359 |
| Travel | $205,576 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,505 |
| Interest | $263,814 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,197,280 |
| Insurance | $140,756 |
| All other expenses | $360,192 |
| Total functional expenses | $22,019,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $23,503,551 |
| Pledges and grants receivable | $710,000 |
| Accounts receivable, net | $2,963,536 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $937,711 |
| Prepaid expenses and deferred charges | $394,576 |
| Net Land, buildings, and equipment | $66,354,627 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $242,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,125,900 |
| Total assets | $96,231,901 |
| Accounts payable and accrued expenses | $1,540,435 |
| Grants payable | $911,400 |
| Deferred revenue | $2,286,972 |
| 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 | $5,709,320 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,962,426 |
| Total liabilities | $13,410,553 |
| Net assets without donor restrictions | $82,535,642 |
| Net assets with donor restrictions | $285,706 |
| 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 | $96,231,901 |
Grants Awarded
Over the last fiscal year, Und Aerospace Foundation has awarded $69,902 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MUSEUM OF FLIGHT PURPOSE: Education | $10,000 |
UNIVERSITY OF NORTH DAKOTA PURPOSE: Program support. | $59,902 |