2024-05-14T11:40:07-05:00 2023-12-31 STOCKMAN KAST RYAN & CO LLP 102 N CASCADE AVENUE SUITE 400 COLORADO SPRINGS CO 80903 990 2023-01-01 260537053 Air Force Academy Foundation % KATIE WILLEMARCK CFO AIRF 7194720300 3116 Academy Drive USAF Academy CO 80840 Katie Willemarck CFO 7194720300 2024-05-15 true Katie Willemarck 999009999 true DOREEN B MERZ P00841439 7196301186 2024-05-15 3 2023 2023-04-26 12:10:37Z Katie Willemarck 3116 Academy Drive USAF Academy CO 80840 58128751 false X www.afacademyfoundation.org X 2007 DE 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. 59 57 46 53 0 37432099 37967266 0 0 1688515 2746701 10946 150019 39131560 40863986 10809418 20554505 0 0 3997644 3367948 128751 287519 2623996 1391488 4145800 16327301 28355772 22804259 12508214 128612215 156547159 8200913 14405104 120411302 142142055 X TO BE AN ASSOCIATION AND FOUNDATION OF INFLUENCE AND IMPACT, SUPPORTING THE ACADEMY'S ENDURING MISSION OF DEVELOPING LEADERS OF CHARACTER FOR THE NATION, AND PROVIDING A LIFETIME OF SERVICE TO THE LONG BLUE LINE. (Cont'd. on sch. O) false false 22163391 19662758 SUPPORT FOR ACADEMIC, ATHLETIC AND CHARACTER AND LEADERSHIP DEVELOPMENT PROGRAMS OF THE UNITED STATES AIR FORCE ACADEMY IN COLORADO SPRINGS, COLORADO. 891747 891747 DIRECT SUPPORT FOR GRADUATE PROGRAMS OF THE ASSOCIATION OF GRADUATES OF THE UNITED STATES AIR FORCE ACADEMY (THE "AOG"), INCLUDING INDIRECT SUPPORT OF THE AOG'S ACADEMIC, ATHLETIC AND CHARACTER AND LEADERSHIP DEVELOPMENT PROGRAMS OF THE UNITED STATES AIR FORCE ACADEMY IN COLORADO SPRINGS, COLORADO. 23055138 true true false false false false false false true false true false false false false true false true false false false false false true false false false true true true false false false false false false false false true false false false false true true true false false true 54 0 46 true false false false false false false false false false false false false X 59 57 false false false false false false false true true false false true true true true true true true true false AK AR CA CO CT DC HI IL KY LA ME MD MA MI MN MS NV NH NJ NM NY NC ND OH OK OR PA RI SC UT WA WV WI X X KATIE WILLEMARCK CFO 7194720300 3116 ACADEMY DRIVE USAF ACADEMY CO 80840 X Mark Hille President 40.0 1.0 X X 405228 0 46933 Katie Willemarck Chief Financial Officer 40.0 1.0 X 190406 0 36463 CHRISTOPHER BREWER Vice President, Development 40.0 0.0 X 189091 0 33587 Dennis Scruggs Exec Vice Pres. (to 6/2023) 0.0 0.0 X 194590 0 21728 KELLY BANET Senior Vice President 40.0 0.0 X 167169 0 37016 MICHAEL C GOULD Chief Executive Officer 38.0 1.0 X X 177019 0 7412 Wyatt Hornsby VICE PRESIDENT, COMMUNICATIONS 40.0 0.0 X 139813 0 23983 Dale Zschoche EXECUTIVE DIRECTOR, PLANNED GI 40.0 0.0 X 125052 0 9275 Vincent Greco SENIOR DEVELOPMENT DIRECTOR 40.0 0.0 X 107576 0 7188 JOHN N KUCERA Chair(to 8/23), Dir(from 8/23) 1.0 1.0 X X 0 0 0 ALEXander P GILBERT Chairfrom 8/23),Vice Chair (to 8/23) 1.0 1.0 X X 0 0 0 APRIL S FITZGERALD Secretary 1.0 0.0 X X 0 0 0 JEROME V BRUNI Treasurer 1.0 0.0 X X 0 0 0 TERRENCE O'DONNELL Executive Committee 1.0 0.0 X X 0 0 0 TERRANCE M DRABANT Advisor to Executive Committee 1.0 0.0 X X 0 0 0 WILLIAM J HYBL Honorary Director 1.0 0.0 X 0 0 0 DANA H BORN Director 1.0 0.0 X 0 0 0 JOHN D CHILDS Director 1.0 0.0 X 0 0 0 WILLIAM CLOHAN Director 1.0 0.0 X 0 0 0 EVAN M DADOSKY Director 1.0 1.0 X 0 0 0 STEPHEN M DICKSON Dir to 823 Vice Chair (from 8/2023) 1.0 0.0 X X 0 0 0 A TANNER DOSS Director 1.0 1.0 X 0 0 0 RALPH E EBERHART Director 1.0 0.0 X 0 0 0 LEONARD EKMAN Director 1.0 0.0 X 0 0 0 John M Fox Director 1.0 0.0 X 0 0 0 Jeffrey M Frient Director 1.0 0.0 X 0 0 0 Brian C Gornick Director 1.0 0.0 X 0 0 0 Alexander F Granados Director 1.0 0.0 X 0 0 0 A Bart Holaday Director 1.0 0.0 X 0 0 0 Bradley C Hosmer Director 1.0 0.0 X 0 0 0 Rashad Howard Director 1.0 0.0 X 0 0 0 Max F James Director 1.0 0.0 X 0 0 0 Edward R Jayne Director 1.0 0.0 X 0 0 0 Paul G Kaminski Director 1.0 0.0 X 0 0 0 J Scott Kirby Director 1.0 0.0 X 0 0 0 Matthew J Kuta Director 1.0 0.0 X 0 0 0 H Michael Lambert Director 1.0 0.0 X 0 0 0 P Michael Leahy Director 1.0 0.0 X 0 0 0 Edward E Legasey Director 1.0 0.0 X 0 0 0 Rod R Little Director 1.0 0.0 X 0 0 0 Eugene Lupia Director 1.0 0.0 X 0 0 0 Stephen Macleod Director 1.0 0.0 X 0 0 0 PAUL S MADERA Director 1.0 0.0 X 0 0 0 Sarah J Marshall Director 1.0 0.0 X 0 0 0 John W Martin Director 1.0 0.0 X 0 0 0 John H Martinson Director 1.0 0.0 X 0 0 0 Richard D McConn Director 1.0 0.0 X 0 0 0 John F Olive Director 1.0 1.0 X 0 0 0 Harry J Pearce Director 1.0 0.0 X 0 0 0 Charles E Phillips Director 1.0 0.0 X 0 0 0 Gregg C Popovich Director 1.0 0.0 X 0 0 0 Edward G Reisdorf Director 1.0 0.0 X 0 0 0 Paul Rossetti Director 1.0 0.0 X 0 0 0 Daniel J Schnepf Director 1.0 0.0 X 0 0 0 Norton A Schwartz Director 1.0 0.0 X 0 0 0 Cheryl L Shavers Director 1.0 0.0 X 0 0 0 Thomas A Stein Director 1.0 0.0 X 0 0 0 H Wesley Stowers Director 1.0 0.0 X 0 0 0 David J Strobel Director 1.0 0.0 X 0 0 0 William E Wecker Director 1.0 0.0 X 0 0 0 Mark A Welsh Director 1.0 0.0 X 0 0 0 R DAVID YOST director 1.0 0.0 X 0 0 0 Louis W Bremer director (from 5/2023) 1.0 0.0 X 0 0 0 Paul Capon director (from 5/2023) 1.0 0.0 X 0 0 0 Elizabeth D Ferrill director (from 5/2023) 1.0 0.0 X 0 0 0 Jesung Kim director (from 5/2023) 1.0 0.0 X 0 0 0 Patrick M Nesbitt director (from 5/2023) 1.0 0.0 X 0 0 0 1695944 0 223585 9 true true true True North Commons BID 2435 Research Parkway Suite 300 COLORADO SPRINGS CO 80920 General Contractor 960478 RTA 19 S Tejon Street Suite 300 COLORADO SPRINGS CO 80903 Architectual 677894 Dimensional Innovations 3421 Merriam Drive OVERLAND PARK KS 66203 Const. Design 269091 David R Stilwell 6996 Niumalu Loop HONOLULU HI 96825 consulting 250000 21st Century Defense Strategies In 12721 Cloudy Bay Drive COLORADO SPRINGS CO 80921 consulting 245000 13 37967266 4620826 37967266 0 2653376 2653376 0 0 0 0 0 17358090 17264765 93325 93325 93325 0 0 0 0 0 0 0 0 0 INSURANCE PROCEEDS 900099 150000 150000 MISC 900099 19 19 150019 40863986 2896720 20464708 20464708 89797 89797 0 0 1067644 920336 147308 0 1722181 423171 1299010 118548 53578 64970 221140 103412 117728 238435 127349 111086 0 65371 65371 55226 55226 0 287519 287519 0 139440 107434 32006 201034 183615 17419 364113 81669 282444 49073 11060 38013 0 245621 237404 8217 204870 35487 169383 0 122257 108085 14172 0 0 17727 8140 9587 22544 22544 PROGRAM DEVELOPMENT EXP. 2500633 2500633 RECRUITING 42105 29551 12554 DONOR APPRECIATION & DEVELOP. 24401 22028 2373 EMPLOYEE DEVELOPMENT 14385 12291 2094 77000 68887 8113 28355772 23055138 2676638 2623996 1000 1000 26919258 41700644 42192782 43213210 0 0 0 0 0 0 0 0 0 0 140904 1016716 1227705 149785 278532 1077920 58537230 69391591 0 0 0 0 0 0 542509 146078 128612215 156547159 773796 809997 6156993 12135898 0 0 0 0 1270124 1459209 0 0 0 0 0 0 0 0 8200913 14405104 X 1225959 4015258 119185343 138126797 120411302 142142055 128612215 156547159 X 12508214 10984454 -1761915 X X false true X true false X 29422225 25755936 30172405 37025789 37967266 160343621 0 0 29422225 25755936 30172405 37025789 37967266 160343621 31966473 128377148 1155601 874125 922386 1805697 2653376 7411185 0 2012 4088 11550 10946 150019 178615 167933421 0.76445 0.76538 X SCH A, PART II, LINE 1 During 2023, the Organization determined prior year pledges had become uncollectible. Line 1, Contributions, for the following years, has been adjusted to reflect the uncollectible pledges: Column (a)2019 - $27,190, Column (b)2020 - $15,645, Column (c)2021 - $21,353, and Column (d)2022 - $406,310. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 0 0 0 11750 11750 0 117741 94089 23652 1098214 43946 1054268 1077920 0 0 X 50222943 10984454 136418 11120872 39102071 1761915 1761915 40863986 28492190 136418 136418 28355772 28355772 Schedule D Part IV Line 2 The Organization holds funds on behalf of The Friends of the Air Force Academy Library (The Friends), a separate nonprofit organization which also supports the Academy. Schedule D Part X, Line 2 Both the Foundation and the Trust are qualified organizations exempt from federal income taxes under the provisions of 501(c)(3) of the Internal Revenue Code. In addition, both the Foundation and the Trust qualify for the charitable contribution deduction. The Organization believes that it does not have any uncertain tax positions that are material to the consolidated financial statements. schedule d Part XI line 4b Uncollectible pledges netted with revenue for audit shown as an adjustment to Net assets under Form 990 Part XI line 9: $ 1,763,531 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT ($ 1,616) ------------- Total $1,761,915 X X true LEGENDS SALES MARKETING 3450 N 127th Street Unit A Brookfield WI 53005 SOLIC. OF DONATIONS false 286843 253828 33015 286843 253828 33015 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY true UNITED STATES AIR FORCE ACADEMY 2304 CADET DRIVE USAF Academy CO 80840 us air force 4467129 11130239 See Part IV real prop, furniture See Part IV ASSOCIATION OF GRADUATES OF THE USAFA 3116 ACADEMY DRIVE USAF Academy CO 808404475 840580665 501(C)(3) 891747 See Part IV AIR FORCE ACADEMY ATHLETIC CORPORATION 2168 FIELDHOUSE DRIVE USAF Academy CO 80840 454331061 501(C)(3) 3737294 See Part IV FALCON FOUNDATION 3116 ACADEMY DRIVE USAF Academy CO 80840 756016930 501(C)(3) 67709 See Part IV Air Force Academy Real Estate Trust 3116 Academy Drive USAF Academy CO 80840 861379592 501(c)(3) 100000 PUrchase of investments Academy Research and Development Institute 1490 Garden of the Gods Rd Colorado Springs CO 80907 742378230 501(c)(3) 67038 3552 fmv supplies See Part IV 6 0 FINANCIAL ASSISTANCE FOR DISADVANTAGED CADETS 42 29935 0 scholarships to Harvard University 1 59862 0 SCHEDULE I, PART I, LINE 2: United States Air Force Academy THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS PROVIDED TO THE UNITED STATES AIR FORCE ACADEMY BY MAINTAINING REGULAR CONTACT WITH THE UNITED STATES AIR FORCE ACADEMY SUPERINTENDENT'S OFFICE AND STAFF. Air Force Academy Athletic Corporation THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS PROVIDED TO THE AIR FORCE ACADEMY ATHLETIC CORPORATION DEPARTMENT BY MAINTAINING REGULAR CONTACT WITH THE ATHLETIC DIRECTOR'S OFFICE AND STAFF. Association of Graduates of the USAFA The Organization monitors the use of grant funds provided to the Association of Graduates of the United States Air Force Academy by maintaining regular contact with Association's directors, officers and staff, including reciprocal attendance at the Association's and the Organization's Board of Directors meetings and at various other Association and Organization meetings, events and activities. Schedule I, Part II, column F, lines 1,6 Method of valuation: Actual Costs, FMV, Appraisal Schedule I, Part II, column H, line 1-6 Purpose of Grant or Assistance: 1) SCHOLAR FEES, FURNITURE & REAL PROPERTY IMPROVEMENTS 2) GENERAL ASSISTANCE TO SUPPORT ASSOCIATION PROGRAMS 3) SUPPORT FOR USAFA ATHLETIC PROGRAMS AND FACILITIES 4) financial assistance to attend funerals of deceased family members. schedule i, part iii, column (b), line 1-2 column B reports the number of scholarship and financial assistance recipients. X true true X X X X true false false true false false false true false Mark Hille President 295705 99502 10021 19800 27133 452161 Dennis Scruggs Exec Vice Pres. (to 6/2023) 171052 23538 11856 9872 216318 KELLY BANET Senior Vice President 166669 500 10501 26515 204185 CHRISTOPHER BREWER Vice President, Development 148173 30500 10418 11734 21853 222678 MICHAEL C GOULD Chief Executive Officer 177019 7013 399 184431 Wyatt Hornsby VICE PRESIDENT, COMMUNICATIONS 139313 500 7876 16107 163796 Katie Willemarck Chief Financial Officer 189906 500 11000 25463 226869 Schedule J, Part I, Line 4a the organization accrued a payable pursuant to an agreement entered intO, March 2024 WITH FORMER OFFICER DENNIS SCRUGGS, IN THE AMOUNT OF $290,000. No payments were MADE during 2023. Schedule J, Part I, Line 5a The organization has accrued deferred compensation for several individuals to be paid upon attainment of the $270 million campaign goal. Schedule J, Part I, Line 7 Bonuses were paid to all qualifying employees, subject to approval by the Compensation and Executive Committees. Sch j, part 2, line 5 FORM 990, PART VII, COLUMN (D), COLUMN (F) FORM 990, PART VII, LINE 2 THE ORGANIZATION PARTICIPATES IN A COOPERATIVE OPERATING AGREEMENT WITH THE ASSOCIATION FOR AIR FORCE GRADUATES OF THE UNITED STATES AIR FORCE ACADEMY (AOG). THE AGREEMENT PROVIDES FOR SHARED LEADERSHIP, WHO SERVE ALL THE ORGANIZATIONS, AND COSTS ARE SHARED PRO-RATABLY. THROUGH THIS AGREEMENT, THE ORGANIZATION WAS DEEMED TO EMPLOY THE CHIEF EXECUTIVE OFFICER, MICHAEL GOULD. MR. GOULD WAS DEEMED TO HAVE BEEN COMPENSATED BY THE AIR FORCE ACADEMY FOUNDATION FOR $177,019 OF WAGES AND $7,412 OF BENEFITS. ALL PAYROLL TAXES AND PAYROLL RETURNS ARE FILED AND PAID BY THE ASSOCIATES FOR AIR FORCE GRADUATES FOR MICHAEL GOULD. THE TOTAL FOR MR. GOULD'S 2023 FORM W2 WAS $354,038, AND THE TOTAL BENEFITS HE RECEIVED WAS $14,824 FOR THE 2023 CALENDAR YEAR. X 26 4615115 FMV X Football Tckts 1 311 FMV X Rodeo Equipment 1 5400 FMV 0 false true true SCHEDULE M, PART I, LINE 32B: AIR FORCE ACADEMY FOUNDATION USED LEGENDS SALES & MARKETING, LLC, A TELEMARKETER, TO SOLICIT CONTRIBUTIONS. THE ORGANIZATION ALSO USES A BROKERAGE FIRM TO SELL DONATED STOCK. THE ORGANIZATION ALSO USES A REAL ESTATE BROKER TO SELL REAL ESTATE. SCHEDULE M, PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS. Supplemental Information The Organization received $8,017,292 of Publicly Traded Securities During 2023 as payment of prior year pledges. These amounts are recognized in income in prior years and are not reported on Schedule M. FORM 990, PART I, line 1, and Part III, Line 1 continued Strategic Priorities of: (1) Engagement - Cultivate lifelong relationships and provide valued service to the Academy and our graduates. (2) Philanthropy - Enhance financial strength and stability to advance the Academy and sustain our mission. (3) Stewardship - Responsibly seek and manage gifted time, talent, treasure and relationships. (4) Communication - Tell the story of our Academy, our graduates and our mission with our words and actions. (5) Organizational Excellence - Align our values, our culture and our commitment as a team to drive overall effectiveness of our mission. FORM 990, PART VI, SECTION B, LINE 11 b: THE ORGANIZATION PROVIDED THE FORM 990 TO THE ORGANIZATION'S BOARD AND AUDIT COMMITTEE FOR REVIEW AND COMMENT BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12 C: THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY AND ANNUALLY SOLICITS CONFLICT OF INTEREST INFORMATION FROM BOARD MEMBERS AND OFFICERS. COMPLIANCE WITH OUR CONFLICT-OF-INTEREST POLICY IS EMPHASIZED DURING REGULAR BOARD MEETINGS BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 A & b: Compensation for the CEO AND OTHER OFFICERS IS annually determined by the compensation and Executive Committees of the Board of Directors. IN ACCORDANCE WITH THEIR POLICY, THE COMMITTEE MAKES SALARY RECOMMENDATIONS TO THE BOARD BASED ON A REVIEW OF CORROBORATING REFERENCES. THE BOARD VOTES ON ANY CHANGES TO SALARY AND IMPLEMENTS THEM ACCORDINGLY. THE ORGANIZATION HAS NO OTHER PAID OFFICERS OR EMPLOYEES MEETING THE IRS DEFINITION OF A KEY EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 17: THE ORGANIZATION HAS REGISTERED OR BEEN NOTIFIED THAT REGISTRATION IS NOT REQUIRED IN ALL 50 U.S. STATES. A COPY OF THE 990 IS FILED WITH ALL STATES REQUIRING THE FILING OF FORM 990 TO FULFILL STATE EXEMPT ORGANIZATION OR CHARITABLE SOLICITATION REPORTING REQUIREMENTS. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION PROVIDES KEY FINANCIAL, POLICY, AND OTHER INFORMATION TO THE PUBLIC VIA THE WEBSITE WWW.AFACADEMYFOUNDATION.ORG. ANY DOCUMENTS THAT ARE A MATTER OF PUBLIC RECORD AND ARE NOT AVAILABLE ON THE WEBSITE ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, COLUMN (D), COLUMN (F) FORM 990, PART VII, LINE 2, SCHEDULE J, PART II, LINE 5 THE ORGANIZATION PARTICIPATES IN A COOPERATIVE OPERATING AGREEMENT WITH THE ASSOCIATION FOR AIR FORCE GRADUATES OF THE UNITED STATES AIR FORCE ACADEMY (AOG). THE AGREEMENT PROVIDES FOR SHARED LEADERSHIP, WHO SERVE ALL THE ORGANIZATIONS, AND COSTS ARE SHARED PRO-RATABLY. THROUGH THIS AGREEMENT, THE ORGANIZATION WAS DEEMED TO EMPLOY THE CHIEF EXECUTIVE OFFICER, MICHAEL GOULD. MR. GOULD WAS DEEMED TO HAVE BEEN COMPENSATED BY THE AIR FORCE ACADEMY FOUNDATION FOR $177,019 OF WAGES AND $7,412 OF BENEFITS. ALL PAYROLL TAXES AND PAYROLL RETURNS ARE FILED AND PAID BY THE ASSOCIATES FOR AIR FORCE GRADUATES FOR MICHAEL GOULD. THE TOTAL FOR MR. GOULD'S 2023 FORM W2 WAS $354,038, AND THE TOTAL BENEFITS HE RECEIVED WAS $14,824 FOR THE 2023 CALENDAR YEAR. FORM 990 PART XI LINE 9 Write off of prior year UNCOLLECTIBLE pledges -$1,763,531 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 1,616 ___________ Total -$1,761,915 FORM 990, PART XII, LINE 2 C THE PROCESS FOR OVERSEEING THE AUDIT HAS NOT CHANGED FROM PRIOR YEARS. Air Force ACADEMY Real Estate Trust 3116 Academy Drive USAF Academy CO 80840 861379592 See Part VII CO 501(c)(3) 12(A) AFA FND true true true false true false false false false false false true false true true true true false false Air Force Academy Real Estate Trust B 100000 Cash AIR FORCE ACADEMY REAL ESTATE TRUST d 122424 loan balance AIR FORCE ACADEMY REAL ESTATE TRUST A 5377 Loan Agreement Part II, Line 1B Primary activity of the Air Force Real Estate Trust is to align donor passion and generosity to serve and support the Air Force Academy through the Air Force Academy Foundation.