Air Force Academy Foundation

“The organization provided the form 990 to the organization's board and audit committee for review and comment before it was filed.”

“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.”

“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.”

“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.”

“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, 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.”

“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.”

“Write off of prior year UNCOLLECTIBLE pledges -$1,763,531 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 1,616 ___________ Total -$1,761,915”

“The process for overseeing the audit has not changed from prior years.”