Association Of Graduates Of The Usafa
- Assets
- $106.4m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 64
- Location
- USAF Academy, CO
- Founding
- 08/1968
- Data as of
- 12/2022
- EIN
- 84-0580665
Organization Overview
Association Of Graduates Of The Usafa is located in USAF Academy, CO. The organization was established in 1968. As of 12/2022, Association Of Graduates Of The Usafa employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association Of Graduates Of The Usafa 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, Association Of Graduates Of The Usafa generated $8.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $8.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Association Of Graduates Of The Usafa has awarded 36 individual grants totaling $23,683,743. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TOGETHER, WE SERVE GRADUATES, PRESERVE THE HERITAGE OF THE ACADEMY & LONG BLUE LINE, AND SUPPORT USAFA TO DEVELOP LEADERS OF CHARACTER FOR AIR FORCE, SPACE FORCE, AND NATION.
Describe the Organization's Program Activity:
ACADEMY AND OTHER SERVICES - FUNDS UTILIZED FOR PROJECTS THAT DIRECTLY SUPPORT THE ACADEMY, CADET WING OR ALUMNI.
MEMBER SERVICES - FUNDS UTILIZED TO MAINTAIN INFORMATION ON GRADUATES AND TO PROVIDE NETWORKING OPPORTUNITIES AMONG GRADUATES AND SUPPORTERS.
COST OF PUBLICATIONS - FUNDS UTILIZED FOR PUBLICATION AND DISTRIBUTION OF THE ALUMNI MAGAZINE CHECKPOINTS, THE REGISTER OF GRADUATES AND VARIOUS OTHER ALUMNI AND ACADEMY RELATED PUBLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Gould CEO (see Sch O) | Officer | 40 | $179,856 |
Naviere Walkewicz SVP Alumni Relations & Bus Dev | 40 | $130,500 | |
Corrie Grubbs SVP Operations | 40 | $126,497 | |
Jennifer Harwig CFO | Officer | 40 | $116,679 |
Bob Lowe Chair | OfficerTrustee | 5 | $0 |
Will Gunn Vice Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Publication Printers Magazine Printing | 6/29/16 | $179,146 |
James Nance Sculpture Studios Bronze Sculptures | 6/29/16 | $396,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $922,537 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,779,409 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,701,946 |
| Total Program Service Revenue | $828,903 |
| Investment income | $3,554,345 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $113,399 |
| Net Rental Income | $19,965 |
| Net Gain/Loss on Asset Sales | $234,153 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $250,186 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,064,070 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,741,639 |
| Grants and other assistance to domestic individuals. | $183,585 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $777,157 |
| Compensation of current officers, directors, key employees. | $261,317 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,990,102 |
| Pension plan accruals and contributions | $62,314 |
| Other employee benefits | $290,335 |
| Payroll taxes | $200,210 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,868 |
| Fees for services: Accounting | $30,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,461 |
| Fees for services: Other | $604,490 |
| Advertising and promotion | $59,902 |
| Office expenses | $854,651 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $198,955 |
| Travel | $136,452 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $664,328 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $578,966 |
| Insurance | $50,076 |
| All other expenses | $0 |
| Total functional expenses | $8,454,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,046,741 |
| Savings and temporary cash investments | $24 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $170,903 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $417,295 |
| Prepaid expenses and deferred charges | $240,226 |
| Net Land, buildings, and equipment | $3,726,405 |
| Investments—publicly traded securities | $100,817,240 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $106,418,834 |
| Accounts payable and accrued expenses | $495,687 |
| Grants payable | $0 |
| Deferred revenue | $2,115,993 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,096,536 |
| 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 | $3,708,216 |
| Net assets without donor restrictions | $33,262,072 |
| Net assets with donor restrictions | $69,448,546 |
| 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 | $106,418,834 |
Grants Awarded
Over the last fiscal year, Association Of Graduates Of The Usafa has awarded $1,534,782 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
AIR FORCE INSTITUTE OF TECHNOLOGY PURPOSE: Endowed scholarships for graduating Air Force Academy cadets. | $112,509 |
FALCON FOUNDATION PURPOSE: To provide private funding to the USAFA to help accomplish its mission of providing an extra margin of excellence for cadets. | $32,750 |
UNITED STATES AIR FORCE ACADEMY PURPOSE: To provide support | $1,059,628 |
AIR FORCE ACADEMY FOUNDATION PURPOSE: Support Foundation Projects | $199,000 |
CLASS OF 2010 FOUNDATION | | | $130,895 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Educational Commission Of The States Northglenn, CO | $10,871,422 | $9,981,000 |
Association Of Graduates Of The Usafa USAF Academy, CO | $106,418,834 | $8,064,070 |
Granite Education Foundation Inc Salt Lake City, UT | $3,539,208 | $3,029,089 |
Kroenke Sports Charities Inc Denver, CO | $4,360,868 | $3,664,528 |
Mccalls Chapel School Endowment Trust Of 1993 Ada, OK | $8,773,489 | $2,719,793 |
Durango Education Foundation Durango, CO | $1,137,078 | $412,858 |
American Association For Employment In Education Chandler, AZ | $65,375 | $211,347 |
National Association Of Christian Educators Prescott, AZ | $56,451 | $0 |
Manufacturers Representatives Educational Research Foundation Golden, CO | $39,850 | $0 |