Delaware Aerospace Education Foundation
- Assets
- $16.3m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 27
- Location
- Bear, DE
- Founding
- 09/1990
- Data as of
- 12/2022
- EIN
- 51-0325362
Organization Overview
Delaware Aerospace Education Foundation is located in Bear, DE. The organization was established in 1990. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2022, Delaware Aerospace Education Foundation employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware Aerospace Education 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 12/2022, Delaware Aerospace Education Foundation generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.4% each year . All expenses for the organization totaled $288.5k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE AND EDUCATE THE PEOPLE OF THE DELAWARE VALLEY AND THE SURROUNDING AREA IN LEARNING ABOUT SCIENCE, SPACE, TECHNOLOGY, ENGINEERING, EARTH'S ENVIRONMENT, AND MATHEMATICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DASEF PROGRAMS ARE DRIVEN BY THE BELIEF THAT "WISDOM BEGINS WITH WONDER." CAPITALIZING ON NATURAL CURIOSITY THROUGH ACTIVITIES THAT INCLUDE A PROBLEM SOLVING COMPONENT ENRICHES THE APPLIED LEARNING PROCESS FOR PARTICIPANTS. THESE MULTI-DISCIPLINARY AND COOPERATIVE LEARNING PROGRAMS TEACH IN TANGIBLE WAYS THE SKILLS OF RESPONSIBLE DECISION MAKING, LEADERSHIP, TEAMWORK, CRITICAL AND CREATIVE THINKING, COMMUNICATION AND LISTENING SKILLS. DASEF IS IN THE MIDST OF A CAPITAL INITIATIVE TO COMPLETE THE INNOVATION TECHNOLOGY EXPLORATION CENTER (ITEC)A UNIQUE FACILITY IN KENT COUNTY, DELAWARE THAT WILL EMBODY RESPONSIBLE USE OF TECHNOLOGY ALONG WITH A STEWARDSHIP OF OUR PLANET AND ITS RESOURCES. AS OF DECEMBER 31, 2022, $13,781,145 HAS BEEN CAPITALIZED INTO THE PROJECT OF WHICH $12,102,137 IS CONSTRUCTION IN PROGRESS AND $1,881,302 RELATED TO THE ENVIRONMENTAL OUTPOST AND VARIOUS INFRASTRUCTURE WHICH HAS BEEN PLACED INTO SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Mgwright Edd President/ceo | OfficerTrustee | 30 | $10,000 |
Jean M Kraeuter Secretary | OfficerTrustee | 0.3 | $0 |
Brian H Wright Treasurer/financial Manage | OfficerTrustee | 6 | $5,000 |
Charlie T Michels Chairperson | Trustee | 0.3 | $0 |
Teresa A Connor Board Member | Trustee | 0.6 | $0 |
Mitchell D Houser Board Member | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $3,094 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,123,508 |
| All other contributions, gifts, grants, and similar amounts not included above | $62,167 |
| Noncash contributions included in lines 1a–1f | $15,167 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,188,769 |
| Total Program Service Revenue | $80,789 |
| Investment income | $4,505 |
| 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 | $2,278,636 |
| 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. | $15,000 |
| Compensation of current officers, directors, key employees. | $4,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,993 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,447 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,903 |
| Advertising and promotion | $4,473 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,178 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $778 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,552 |
| Insurance | $31,758 |
| All other expenses | $2,200 |
| Total functional expenses | $288,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,507 |
| Savings and temporary cash investments | $373,480 |
| 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 | $13,879,469 |
| Investments—publicly traded securities | $64,041 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,803,130 |
| Total assets | $16,349,627 |
| Accounts payable and accrued expenses | $187,061 |
| 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 | $187,061 |
| Net assets without donor restrictions | $14,359,436 |
| Net assets with donor restrictions | $1,803,130 |
| 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 | $16,349,627 |