Daedalian Foundation
- Assets
- $3.9m
- Revenue
- $614.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Randolph Afb, TX
- Founding
- 10/1960
- Data as of
- 12/2022
- EIN
- 74-1365823
Organization Overview
Daedalian Foundation is located in Randolph Afb, TX. The organization was established in 1960. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Daedalian 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, Daedalian Foundation generated $614.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $792.0k during the year ending 12/2022. While expenses have increased by 8.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S MISSION IS THREEFOLD: TO INSPIRE YOUNG AMERICANS TO PURSUE CAREERS AS MILITARY AVIATORS VIA SCHOLARSHIPS, FLYING INSTRUCTION AND OTHER EDUCATIONAL OPPORTUNITIES; TO PERPETUATE THE SPIRIT OF PATRIOTISM, LOVE OF COUNTRY AND THE HIGH IDEALS OF SELF-SACRIFICE EXEMPLIFIED BY THE AMERICAN PILOTS OF WORLD WAR I; AND TO RAISE AND INVEST FUNDS TO ADVANCE THE GOALS OF THE FOUNDATION'S MISSION. AT YEAR END THE FOUNDATION HAD 9,331 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PREPARATION, PUBLISHING AND DISTRIBUTION OF THE "DAEDALUS FLYER", A QUARTERLY MAGAZINE DOCUMENTING THE HISTORY OF MILITARY AVIATION AND ENCOURAGING AN INTEREST IN AVIATION AND AERONAUTICS. THE PUBLICATION INCLUDES INFORMATION ON NATIONAL AND LOCAL FLIGHT ACTIVITIES INCLUDING SPEAKERS, AWARDS AND PRESENTATIONS.
MATCHING AND OTHER SCHOLARSHIPS TO ENCOURAGE STUDY AND TRAINING IN ACTIVITIES LEADING TO CAREERS AS COMMISSIONED MILITARY PILOTS.
TO PROVIDE SCHOLARSHIP OPPORTUNITIES TO STUDENTS WHO HAVE DEMONSTRATED THE DESIRE AND POTENTIAL TO BECOME A COMMISSIONED MILITARY AVIATOR. DAEDALIAN FLYING TRAINING SCHOLARSHIPS RECOGNIZES THE EFFORTS OF CANDIDATES BY PROVIDING THE GROUND AND FLIGHT TRAINING NECESSARY TO ACHIEVE A SOLO FLIGHT IN A GENERAL AVIATION FIXED WING AIRCRAFT. THE FOUNDATION AWARDS EXCELLENCE IN EDUCATION WITH PRESENTATIONS TO THE TOP GRADUATES OF THE FLYING TRAINING COURSES OF THE AIR FORCE AIR EDUCATION AND TRAINING COMMAND, THE NAVAL AIR TRAINING COMMAND, THE ARMY AVIATION SCHOOL, AND THE UNITED STATES AIR FORCE ACADEMY OUTSTANDING CADET IN THE ORDER OF GRADUATION. THE FOUNDATION ALSO AWARDS THE PRESTIGIOUS JUNIOR RESERVE OFFICER TRAINING CORPS (JROTC) MEDAL TO ENCOURAGE THE DEVELOPMENT OF PATRIOTISM AND SERVICE IN JROTC PARTICIPANTS INTERESTED IN PURSUING A MILITARY CAREER.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brig Gen Chad Manske Usaf Ret Chairman | OfficerTrustee | 2 | $0 |
Col Edward J Sheeran Usaf Ret Trustee | Trustee | 1 | $0 |
Lt Col Michael A Buck Trustee | Trustee | 1 | $0 |
Col Francis L Kapp Trustee | Trustee | 1 | $0 |
Major Julian Gluck Trustee | Trustee | 1 | $0 |
Lt Col Olga Custodio Trustee | 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 | $390,155 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $390,155 |
| Total Program Service Revenue | $17,965 |
| Investment income | $121,641 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,737 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $614,536 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $342,686 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,236 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,051 |
| Fees for services: Other | $289,416 |
| Advertising and promotion | $3,193 |
| Office expenses | $91,681 |
| Information technology | $0 |
| 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 | $12,518 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $11,261 |
| Total functional expenses | $792,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $121,879 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,869 |
| 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 | $952 |
| Net Land, buildings, and equipment | $93,100 |
| Investments—publicly traded securities | $3,646,550 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,877,350 |
| Accounts payable and accrued expenses | $28,640 |
| 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 | $28,640 |
| Net assets without donor restrictions | $935,310 |
| Net assets with donor restrictions | $2,913,400 |
| 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 | $3,877,350 |