Civic Intelligence

Aaaa Scholarship Foundation Inc

EIN 06-0799487 • 501(c)3 • Monroe, CT

Profile

To administer the scholarships, scholarship loans, and life membership memorial grants to members, children, siblings and spouses of members and deceased members, of army aviation association of america inc. (aaaa), an affiliated not for profit tax exempt organization. The scholarships and life membership memorial grants are awarded as financial assistance for college level education. The selection of the recipient is made by aaaasfi's board or their designated committee.

593 Main StreetMonroe, CT 06468-2830

www.quad-a.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

8th percentile

0.00x

Higher debt load relative to revenue than 8% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

93rd percentile

64%

Higher net margin than 93% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

69th percentile

12%

Faster asset growth than 69% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Revenue Growth

88th percentile

55%

Faster revenue growth than 88% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$9,555,146

Up $1,402,338 (+17%) from 2023

Liabilities

Down

$4,525

Down $1,084 (-19%) from 2023

Net Assets

Up

$9,550,621

Up $1,403,422 (+17%) from 2023

Operations
Liabilities / Revenue8th percentileNet Margin93rd percentile

Revenue

Up

$1,843,701

Up $448,180 (+32%) from 2023

Expenses

Down

$672,883

Down $50,352 (-7.0%) from 2023

Net Income

Up

$1,170,818

Up $498,532 (+74%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth69th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2010: $4,489,931Liabilities 2010: $0Net Assets 2010: $4,489,9312010Assets 2011: $5,005,876Liabilities 2011: $0Net Assets 2011: $5,005,8762011Assets 2012: $5,477,910Liabilities 2012: $0Net Assets 2012: $5,477,9102012Assets 2013: $5,941,735Liabilities 2013: $9,320Net Assets 2013: $5,932,4152013Assets 2014: $6,344,069Liabilities 2014: $0Net Assets 2014: $6,344,0692014Assets 2015: $6,458,954Liabilities 2015: $17,393Net Assets 2015: $6,441,5612015Assets 2016: $6,636,999Liabilities 2016: $16,042Net Assets 2016: $6,620,9572016Assets 2017: $7,158,422Liabilities 2017: $13,953Net Assets 2017: $7,144,4692017Assets 2018: $6,666,595Liabilities 2018: $12,233Net Assets 2018: $6,654,3622018Assets 2019: $7,872,967Liabilities 2019: $11,979Net Assets 2019: $7,860,9882019Assets 2020: $8,389,682Liabilities 2020: $10,628Net Assets 2020: $8,379,0542020Assets 2021: $8,917,324Liabilities 2021: $12,990Net Assets 2021: $8,904,3342021Assets 2022: $7,627,346Liabilities 2022: $6,264Net Assets 2022: $7,621,0822022Assets 2023: $8,152,808Liabilities 2023: $5,609Net Assets 2023: $8,147,1992023Assets 2024: $9,555,146Liabilities 2024: $4,525Net Assets 2024: $9,550,6212024

Highlighted filing

2024

Assets$9,555,146
Liabilities$4,525
Net Assets$9,550,621
Open 2024 Filing

Operations Trend

Revenue Growth88th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $272,5002010Expenses 2011: $300,0002011Expenses 2012: $343,3752012Revenue 2013: $941,079Expenses 2013: $429,917Net Income 2013: $511,1622013Revenue 2014: $783,582Expenses 2014: $397,333Net Income 2014: $386,2492014Revenue 2015: $573,635Expenses 2015: $447,250Net Income 2015: $126,3852015Revenue 2016: $858,892Expenses 2016: $554,123Net Income 2016: $304,7692016Revenue 2017: $1,033,901Expenses 2017: $520,683Net Income 2017: $513,2182017Revenue 2018: $636,611Expenses 2018: $547,560Net Income 2018: $89,0512018Revenue 2019: $759,442Expenses 2019: $566,140Net Income 2019: $193,3022019Revenue 2020: $464,848Expenses 2020: $566,086Net Income 2020: -$101,2382020Revenue 2021: $867,985Expenses 2021: $578,615Net Income 2021: $289,3702021Revenue 2022: $763,785Expenses 2022: $645,213Net Income 2022: $118,5722022Revenue 2023: $1,395,521Expenses 2023: $723,235Net Income 2023: $672,2862023Revenue 2024: $1,843,701Expenses 2024: $672,883Net Income 2024: $1,170,8182024

Highlighted filing

2024

Revenue$1,843,701
Expenses$672,883
Net Income$1,170,818
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,555,146
Liabilities
$4,525
Net assets
$9,550,621
Revenue
$1,843,701
Expenses
$672,883
Net income
$1,170,818
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.56$0.00$9.55$1.84$0.67$1.17
2023Detailed filing. Detailed filing data is available for this year.$8.15$0.01$8.15$1.40$0.72$0.67
2022Detailed filing. Detailed filing data is available for this year.$7.63$0.01$7.62$0.76$0.65$0.12
2021Detailed filing. Detailed filing data is available for this year.$8.92$0.01$8.90$0.87$0.58$0.29
2020Detailed filing. Detailed filing data is available for this year.$8.39$0.01$8.38$0.46$0.57$0.10
2019Detailed filing. Detailed filing data is available for this year.$7.87$0.01$7.86$0.76$0.57$0.19
2018Detailed filing. Detailed filing data is available for this year.$6.67$0.01$6.65$0.64$0.55$0.09
2017Detailed filing. Detailed filing data is available for this year.$7.16$0.01$7.14$1.03$0.52$0.51
2016Detailed filing. Detailed filing data is available for this year.$6.64$0.02$6.62$0.86$0.55$0.30
2015Detailed filing. Detailed filing data is available for this year.$6.46$0.02$6.44$0.57$0.45$0.13
2014Detailed filing. Detailed filing data is available for this year.$6.34$0.00$6.34$0.78$0.40$0.39
2013Detailed filing. Detailed filing data is available for this year.$5.94$0.01$5.93$0.94$0.43$0.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.48$0.00$5.48$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.01$0.00$5.01$0.30
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.49$0.00$4.49$0.27
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Jul 23, 2025
Return Version
2023v6.0
Gross Receipts
$18,251,707
Mission and Program Overview

Mission

To administer the scholarships, scholarship loans and life membership memorial grants to aaaa membership members, children, siblings and spouses of members as well as deceased members of the army aviation association of america, inc, an affiliated not for profit tax exempt organization. The scholarships and life membership memorial grants are awarded as financial assistance for college level education. The selection of a recipient is made by aaaasfi's board or their designated committee.

To administer the scholarships, scholarship loans, and life membership memorial grants to members, children, siblings and spouses of members, and deceased members, of army aviation association of america inc. (aaaa), an affiliated not for profit tax exempt organization. The scholarships and life membership memorial grants are awarded as financial assistance for college level education. The selection of the recipient is made by aaaasfi's board or their designated committee.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,537,004$8,593,737▲ $3,056,733
Investments in Publicly Traded Securities$2,416,574$796,465▼ $1,620,109
Cash and Non-Interest-Bearing Accounts$107,036$161,368▲ $54,332
Pledges and Grants Receivable$55,000$0▼ $55,000
Other Notes and Loans Receivable, Net$35,619$0▼ $35,619
Total Assets$8,152,808$9,555,146▲ $1,402,338
Other Assets Total$1,575$3,576▲ $2,001
Liabilities
Other Liabilities$5,609$4,525▼ $1,084
Total Liabilities$5,609$4,525▼ $1,084
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,118,720$8,385,959▲ $1,267,239
Net Assets Without Donor Restrictions$1,028,479$1,164,662▲ $136,183
Total Net Assets Fund Balance$8,147,199$9,550,621▲ $1,403,422
Total Liabilities and Net Assets / Fund Balance$8,152,808$9,555,146▲ $1,402,338

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$6,786,266$761,871▲ $728,162-$7,981,924
2022$6,460,597$138,613▲ $476,806-$6,786,266
2021$7,379,926$400,194▼ $1,060,523-$6,460,597
2020$6,888,329$287,888▲ $461,959-$7,379,926
2019$6,423,254$323,171▲ $376,154-$6,888,329
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Col Karen LloydPresident
Col Michelle F YarboroughVice President
William R HarrisExecutive Director
Bg Harry H Bendorf UsafGovernor
Bg Michael C FlowersGovernor
Bg Stephen D MundtGovernor
Bg Thomas J KonitzerGovernor
Col Louis a BonhamGovernor
Col Michael E FreemanGovernor
Col Michael LapointGovernor
Col Randolph R Rotte JrGovernor
Col Robert E GodwinGovernor
Col Robert P BirminghamGovernor
Col Stephen T BurnsGovernor
Col Steve D MathiasGovernor
Col Thomas M Harrison SrGovernor
Cw4 Latny L SaltGovernor
Cw5 Mark W GrapinGovernor
Cw5 Robert L HuffmanGovernor
Ltc Brian J PipkinGovernor
Ltc Frank a TedeschiGovernor
Ltc John S BoltonGovernor
Ltc Kelly C BrownGovernor
Ltc Michael L BellGovernor
Ltc Stanford OliverGovernor
Ltc Stephen T MauroGovernor
Ltc Todd a DellertGovernor
Ltc Tom T HuffGovernor
Maj Scott W HollingsworthGovernor
Mg Jessica WrightGovernor
Mg Rudolph Ostovich IiiGovernor
Mr Larry JessGovernor
Mrs Connie HansenGovernor
Ms Janice F SmithGovernor
Sgm Jenneth G RichGovernor
Mr Tommy L MarksSecretary
Ltc Terrance L ReiningerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,140,353
Program Service Revenue
$0
Investment Income
$703,348
Other Revenue
$0
All Other Contributions
$1,140,353
Change in Net Assets
$1,170,818

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,794,693
Revenue Not Reported on Financial Statements
$49,008
Revenue Not Reported on Form 990
$361,596
Other Revenue Adjustments
$500
Total Revenue per Audited Statements
$2,156,289
Total Revenue per Form 990
$1,843,701
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$624,375
Other Expenses$48,508
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$624,375--$624,375
Fees for Service Investment Mgmnt Fees-$48,508-$48,508
Total Functional Expenses$624,375$48,508$0$672,883

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$752,867
Total Expenses per Form 990$672,883
Expenses per Audited Statements$624,375
Expenses Not Reported on Form 990$128,492
Expenses Not Reported on Financial Statements$48,508
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Gift Annuity Elizabeth Ann Noac$2,514
Gift Annuity Charles R. Rayl$2,011
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The executive director of aaaasfi is also the executive director of army aviation association of america inc. (aaaa) and is the owner of army aviation publications inc. (aapi). Aaaa has contracted with aapi through september 30, 2025 for aapi to provide aaaa and aaaasfi with an exective director, with certain administrative and program support, including the use of their offices, to supply the the army aviation magazine for distribution to members, and for life membership support. Beginning in october 2015 aaaa agreed to pay aapi $65,000 per year as a managment fee for aaaasfi. Aaaa also assumed responsibility for payment of the operating expenses of aaasfi for which aaaa received no reimbursement and the amount of which is reflected as in-kind contributions and corresponding in-kind expenses.”

Form 990, Part VI, Section B, Line 11B

“The form 900 was reviewed by a board member and the executive director on behalf of the board before it was filed.”

Form 990, Part VI, Section B, Line 12C

“Annual review of conflicts of interest.”

Form 990, Part VI, Section C, Line 19

“William harris, aaaa scholarship foundation, inc. 203-268-2450 593 main street, monroe, ct 06468”

Filing and Contact Details

Filer

Filer Name
Aaaa Scholarship Foundation Inc
EIN
06-0799487
Phone
2032682450
Address
593 MAIN STREET, MONROE, CT 06468-2830

Signing Officer

Name
William Harris
Title
Executive Director
Phone
2032682450
Signed
2025-07-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Harris
Formed
1963
Legal Domicile
Ct
Voting Board Members
36
Independent Board Members
36
Employees
0
Volunteers
0

Preparer

Firm
Citrin Cooperman Advisors LLC
Address
ONE BRADLEY ROAD BUILDING 600, WOODBRIDGE, CT 06525
Preparer
Marvin Mccarthy
Phone
2033870852
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in value of split-interest agreements -500.”

Financial Statement Notes

PART V, LINE 4:

“To make scholarships to members and children, siblings and spouses of army aviation association of america's members for college education costs.”

PART X, LINE 2:

“Aaaa scholarship foundation, inc. ("aaaasfi') was incorporated in 1963 under the non-stock corporation act of the state of connecticut. Aaaasfi is exempt from federal income taxes under the provisions of section 501(c)(3) of the internal revenue code and is also exempt from state income taxes. Aaaasfi is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, aaaasfi is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. Management has determined that aaaasfi is not subject to unrelated business income tax and has not filed an exempt organization business income tax return (form 990-t) with the irs for the years ended september 30, 2024 and 2023.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Change in value of split-interest agreements 500.”

Raw XML AppendixShowing 400 of 645 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO ADMINISTER THE SCHOLARSHIPS, SCHOLARSHIP LOANS, AND LIFE MEMBERSHIP MEMORIAL GRANTS TO MEMBERS, CHILDREN, SIBLINGS AND SPOUSES OF MEMBERS, AND DECEASED MEMBERS, OF ARMY AVIATION ASSOCIATION OF AMERICA INC. (AAAA), AN AFFILIATED NOT FOR PROFIT TAX EXEMPT ORGANIZATION. THE SCHOLARSHIPS AND LIFE MEMBERSHIP MEMORIAL GRANTS ARE AWARDED AS FINANCIAL ASSISTANCE FOR COLLEGE LEVEL EDUCATION. THE SELECTION OF THE RECIPIENT IS MADE BY AAAASFI'S BOARD OR THEIR DESIGNATED COMMITTEE.
IRS990/AllOtherContributionsAmt01140353
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd00
IRS990/BooksInCareOfDetail/PersonNm0WILLIAM HARRIS
IRS990/BooksInCareOfDetail/PhoneNum02032682450
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0593 MAIN STREET
IRS990/BooksInCareOfDetail/USAddress/CityNm0MONROE
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0CT
IRS990/BooksInCareOfDetail/USAddress/ZIPCd006468
IRS990/BusinessRlnWith35CtrlEntInd00
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IRS990/CashNonInterestBearingGrp/EOYAmt0161368
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IRS990/CollectionsOfArtInd00
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IRS990/CYGrantsAndSimilarPaidAmt0624375
IRS990/CYInvestmentIncomeAmt0703348
IRS990/CYOtherExpensesAmt048508
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt01170818
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0672883
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IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01843701
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IRS990/Desc0SCHOLARSHIPS: THE FOUNDATION ADMINISTERS SCHOLARSHIP AWARDS TO MEMBERS AND CHILDREN, SIBLINGS, AND SPOUSES OF MEMBERS AND DECEASED MEMBERS OF AAAA.
IRS990/DescribedInSection501c3Ind01
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IRS990/Form990PartVIISectionAGrp/PersonNm0COL KAREN LLOYD
IRS990/Form990PartVIISectionAGrp/PersonNm1COL MICHELLE F YARBOROUGH
IRS990/Form990PartVIISectionAGrp/PersonNm2MR TOMMY L MARKS
IRS990/Form990PartVIISectionAGrp/PersonNm3LTC TERRANCE L REININGER
IRS990/Form990PartVIISectionAGrp/PersonNm4LTC MICHAEL L BELL
IRS990/Form990PartVIISectionAGrp/PersonNm5BG HARRY H BENDORF USAF
IRS990/Form990PartVIISectionAGrp/PersonNm6COL ROBERT P BIRMINGHAM
IRS990/Form990PartVIISectionAGrp/PersonNm7LTC JOHN S BOLTON
IRS990/Form990PartVIISectionAGrp/PersonNm8COL LOUIS A BONHAM
IRS990/Form990PartVIISectionAGrp/PersonNm9LTC KELLY C BROWN
IRS990/Form990PartVIISectionAGrp/PersonNm10COL STEPHEN T BURNS
IRS990/Form990PartVIISectionAGrp/PersonNm11LTC TODD A DELLERT
IRS990/Form990PartVIISectionAGrp/PersonNm12BG MICHAEL C FLOWERS
IRS990/Form990PartVIISectionAGrp/PersonNm13COL MICHAEL E FREEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm14COL ROBERT E GODWIN
IRS990/Form990PartVIISectionAGrp/PersonNm15CW5 MARK W GRAPIN
IRS990/Form990PartVIISectionAGrp/PersonNm16MRS CONNIE HANSEN
IRS990/Form990PartVIISectionAGrp/PersonNm17COL THOMAS M HARRISON SR
IRS990/Form990PartVIISectionAGrp/PersonNm18MAJ SCOTT W HOLLINGSWORTH
IRS990/Form990PartVIISectionAGrp/PersonNm19LTC TOM T HUFF
IRS990/Form990PartVIISectionAGrp/PersonNm20CW5 ROBERT L HUFFMAN
IRS990/Form990PartVIISectionAGrp/PersonNm21MR LARRY JESS
IRS990/Form990PartVIISectionAGrp/PersonNm22BG THOMAS J KONITZER
IRS990/Form990PartVIISectionAGrp/PersonNm23COL MICHAEL LAPOINT
IRS990/Form990PartVIISectionAGrp/PersonNm24COL STEVE D MATHIAS
IRS990/Form990PartVIISectionAGrp/PersonNm25LTC STEPHEN T MAURO
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IRS990/Form990PartVIISectionAGrp/PersonNm27LTC STANFORD OLIVER
IRS990/Form990PartVIISectionAGrp/PersonNm28MG RUDOLPH OSTOVICH III
IRS990/Form990PartVIISectionAGrp/PersonNm29LTC BRIAN J PIPKIN
IRS990/Form990PartVIISectionAGrp/PersonNm30SGM JENNETH G RICH
IRS990/Form990PartVIISectionAGrp/PersonNm31COL RANDOLPH R ROTTE JR
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IRS990/Form990PartVIISectionAGrp/PersonNm33MS JANICE F SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm34LTC FRANK A TEDESCHI
IRS990/Form990PartVIISectionAGrp/PersonNm35MG JESSICA WRIGHT
IRS990/Form990PartVIISectionAGrp/PersonNm36WILLIAM R HARRIS
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4GOVERNOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5GOVERNOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6GOVERNOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt8GOVERNOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9GOVERNOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12GOVERNOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt14GOVERNOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15GOVERNOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16GOVERNOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17GOVERNOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt28GOVERNOR
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IRS990/PrincipalOfficerNm0WILLIAM HARRIS

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