Aiaa Foundation Inc
- Assets
- $17.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Reston, VA
- Founding
- 03/1997
- Data as of
- 09/2023
- EIN
- 54-1827596
Organization Overview
Aiaa Foundation Inc is located in Reston, VA. The organization was established in 1997. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Aiaa 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 09/2023, Aiaa Foundation Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.8m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Aiaa Foundation Inc has awarded 42 individual grants totaling $521,000. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RESOURCES FOR THE EDUCATION OF CURRENT AND FUTURE AEROSPACE PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION-THE AIAA FOUNDATION PROVIDES FINANCIAL SUPPORT FOR UNDERGRADUATE AND GRADUATE SCHOLARSHIPS, STUDENT TECHNICAL PAPER CONFERENCES, AEROSPACE DESIGN COMPETITIONS AND AWARDS FOR OUTSTANDING ACHIEVEMENT IN VARIOUS AEROSPACE FIELDS, PROMOTES K-12 AND COLLEGE STEM ACTIVITY, PROVIDES GRANTS AND EDUCATOR ACHIEVEMENT AWARDS TO EDUCATORS IN THE STEM FIELDS AND PROVIDES RECOGNITION PLATFORMS FOR SIGNIFICANT AEROSPACE TECHNICAL AND COMMUNITY CONTRIBUTIONS. ALL SCHOLARSHIP, AWARD AND DESIGN COMPETITION WINNERS ARE CHOSEN BY INDEPENDENT PANELS OF EXPERTS IN THE RELEVANT FIELDS. DURING FY23, THE FOUNDATION AWARDED 27 SCHOLARSHIPS AND 12 PROFESSIONAL AWARDS, SUPPORTED 8 STUDENT CONFERENCES, SUPPORTED 16 DESIGN COMPETITIONS, SUPPORTED 60 DIVERSITY SCHOLARS, AND ISSUED 88 EDUCATOR GRANTS AND AWARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Basil Hassan Chairman | OfficerTrustee | 1 | $0 |
Annalisa Weigel Treasurer | OfficerTrustee | 1 | $0 |
Carissa Christinsan Trustee (incoming Fy23) | Trustee | 1 | $0 |
Daniel Hastings Aiaa President-Elect (incoming Fy23) | Trustee | 1 | $0 |
Greg Hyslop Trustee (outgoing Fy23) | Trustee | 1 | $0 |
Ray Johnson Trustee (outgoing Fy23) | Trustee | 1 | $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 | $616,016 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $616,016 |
| Total Program Service Revenue | $0 |
| Investment income | $613,067 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $169,703 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,398,786 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $275,100 |
| Grants and other assistance to domestic individuals. | $82,374 |
| Grants and other assistance to Foreign Orgs/Individuals | $20,000 |
| 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 | $0 |
| Fees for services: Legal | $8,012 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,747 |
| Fees for services: Other | $416,606 |
| Advertising and promotion | $16,342 |
| Office expenses | $46,549 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $193,214 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $285,647 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $219 |
| Total functional expenses | $1,761,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $317,498 |
| 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 | $5,221 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $17,293,936 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,616,655 |
| Accounts payable and accrued expenses | $19,146 |
| 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 | $252,173 |
| Total liabilities | $271,319 |
| Net assets without donor restrictions | $13,032,336 |
| Net assets with donor restrictions | $4,313,000 |
| 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 | $17,616,655 |
Grants Awarded
Over the last fiscal year, Aiaa Foundation Inc has awarded $207,100 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MARYLAND PURPOSE: CRICHLOW AWARD | $100,000 |
UNIVERSITY OF SOUTHERN CALIFORNIA PURPOSE: DESIGN COMPETITION PROCESS & LANGFORD/DAEDALUS UG SCHOLARSHIP | $11,100 |
COLUMBIA UNIVERSITY PURPOSE: MARILLYN HEWSON SCHOLARSHIP | $10,000 |
CORNELL UNIVERSITY PURPOSE: MARILLYN HEWSON SCHOLARSHIP | $10,000 |
FLORIDA INSTITUTE OF TECHNOLOGY PURPOSE: KAHN SCHOLARSHIP | $10,000 |
RENSSELAER POLYTECHNIC INSTITUTE PURPOSE: KAHN SCHOLARSHIP | $10,000 |