Association Of Graduates Of The Usafa
- Assets
- $132.7m
- Revenue
- $16.1m
- Investments
- $0.0
- Employees
- 62
- Location
- USAF Academy, CO
- Founding
- 08/1968
- Data as of
- 12/2021
- 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 12/2021, Association Of Graduates Of The Usafa employed 62 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 12/2021, Association Of Graduates Of The Usafa generated $16.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $8.5m during the year ending 12/2021. 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 $27,191,052. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO WORK IN SUPPORT OF THE AIR FORCE, THE U.S. AIR FORCE ACADEMY & ITS GRADUATES TO RAISE FUNDS & DEVELOP ACADEMY, CADET & GRADUATE PROGRAMS THAT WOULD OTHERWISE NOT BE FUNDED.
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 VAROUS OTHER ALUMNI AND ACADEMY RELATED PUBLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gould Mike CEO | Officer | 40 | $300,000 |
Marcolongo Martin President | Officer | 40 | $179,541 |
Grubbs Corrie Sr VP Operations | Officer | 40 | $125,934 |
Harwig Jennifer CFO | Officer | 40 | $100,121 |
Bergeman Michele VP Integration & Assessments | Officer | 40 | $69,077 |
Walkewicz Naviere SVP Alumi Relations & Bus Dev | Officer | 40 | $45,991 |
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 | $8,885,996 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $756,727 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,642,723 |
| Total Program Service Revenue | $840,307 |
| Investment income | $763,549 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $112,472 |
| Net Rental Income | $24,128 |
| Net Gain/Loss on Asset Sales | $3,242,708 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $306,146 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,073,462 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,061,024 |
| Grants and other assistance to domestic individuals. | $112,344 |
| Grants and other assistance to Foreign Orgs/Individuals | $45,329 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $898,027 |
| Compensation of current officers, directors, key employees. | $381,762 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,782,529 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $500,427 |
| Payroll taxes | $185,556 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $568,325 |
| Fees for services: Accounting | $29,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,275 |
| Fees for services: Other | $0 |
| Advertising and promotion | $45,910 |
| Office expenses | $597,090 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $146,883 |
| Travel | $53,510 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $485,659 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $593,704 |
| Insurance | $50,517 |
| All other expenses | $0 |
| Total functional expenses | $8,470,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,759,146 |
| Savings and temporary cash investments | $1,228 |
| Pledges and grants receivable | $200,000 |
| Accounts receivable, net | $173,464 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $293,044 |
| Prepaid expenses and deferred charges | $206,120 |
| Net Land, buildings, and equipment | $3,780,925 |
| Investments—publicly traded securities | $126,266,840 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37 |
| Total assets | $132,680,804 |
| Accounts payable and accrued expenses | $582,719 |
| Grants payable | $0 |
| Deferred revenue | $2,185,631 |
| 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 | $1,453,568 |
| Total liabilities | $4,221,918 |
| Net assets without donor restrictions | $45,084,652 |
| Net assets with donor restrictions | $83,374,234 |
| 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 | $132,680,804 |
Grants Awarded
Over the last fiscal year, Association Of Graduates Of The Usafa has awarded $1,765,764 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AIR FORCE ACADEMY FOUNDATION PURPOSE: Support Foundation Projects | $1,355,224 |
UNITED STATES AIR FORCE ACADEMY PURPOSE: To provide support | $317,082 |
AIR FORCE INSTITUTE OF TECHNOLOGY PURPOSE: Endowed scholarships for graduating Air Force Academy cadets. | $62,971 |
USAF Academy, CO PURPOSE: To provide private funding to the USAFA to help accomplish its mission of providing an extra margin of excellence for cadets. | $30,487 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Association Of Graduates Of The Usafa has recieved totaling $3,954,379.
| Awarding Organization | Amount |
|---|---|
Dorothy D & Joseph A Moller Hillsdale, MI PURPOSE: GENERAL SUPPORT | $3,078,350 |
Air Force Academy Foundation USAF Academy, CO PURPOSE: See Part IV | $868,491 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,141 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $397 |
Endowment Analysis
| Beg. Balance | $11,793,224 |
| Earnings | $1,407,585 |
| Net Contributions | $101,150 |
| Other Expense | $346,687 |
| Ending Balance | $12,955,272 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Educational Commission Of The States Denver, CO | $12,403,737 | $12,952,217 |
Association Of Graduates Of The Usafa USAF Academy, CO | $132,680,804 | $16,073,462 |
Granite Education Foundation Inc Salt Lake City, UT | $3,539,208 | $3,029,089 |
Kroenke Sports Charities Inc Denver, CO | $3,023,886 | $2,637,829 |
Mccalls Chapel School Endowment Trust Of 1993 Ada, OK | $6,185,961 | $848,209 |
Durango Education Foundation Durango, CO | $1,644,385 | $454,341 |
National Association Of Christian Educators Prescott, AZ | $56,451 | $0 |
Manufacturers Representatives Educational Research Foundation Golden, CO | $39,794 | $0 |