Civic Intelligence

Central Florida Aerospace Academy Foundation Inc.

990 • Fiscal year 2015 • EIN 27-0763731

Jan 01, 2015 to Dec 31, 2015 • Filed on Jul 22, 2016

Organization ProfileWWW.CFAAF.COM
3650 Drane Field RdLakeland, FL 33811-1208

(863) 559-3980

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

25th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

25th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

63rd percentile

8.3%

Higher net margin than 63% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

61st percentile

5.3%

Faster asset growth than 61% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

43rd percentile

0.2%

Faster revenue growth than 43% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$642,011

Up $32,547 (+5.3%) from 2014

Net Assets

Up

$642,011

Up $32,547 (+5.3%) from 2014

Liabilities

Flat

$0

Flat from 2014

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin63rd percentile

Revenue

Up

$393,944

Up $872 (+0.2%) from 2014

Expenses

Up

$361,397

Up $47,969 (+15%) from 2014

Net Income

Down

$32,547

Down $47,097 (-59%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $191,950Liabilities 2011: $0Net Assets 2011: $191,9502011Assets 2012: $436,283Liabilities 2012: $0Net Assets 2012: $436,2832012Assets 2013: $529,820Liabilities 2013: $0Net Assets 2013: $529,8202013Assets 2014: $609,464Liabilities 2014: $0Net Assets 2014: $609,4642014Assets 2015: $642,011Liabilities 2015: $0Net Assets 2015: $642,0112015Assets 2016: $793,195Liabilities 2016: $0Net Assets 2016: $793,1952016Assets 2017: $1,025,796Liabilities 2017: $45,714Net Assets 2017: $980,0822017Assets 2018: $1,065,768Liabilities 2018: $23,110Net Assets 2018: $1,042,6582018Assets 2020: $1,470,475Liabilities 2020: $14,052Net Assets 2020: $1,456,4232020Assets 2021: $1,652,026Liabilities 2021: $6,633Net Assets 2021: $1,645,3932021Assets 2022: $1,553,422Liabilities 2022: $3,775Net Assets 2022: $1,549,6472022Assets 2023: $1,838,096Liabilities 2023: $0Net Assets 2023: $1,838,0962023Assets 2024: $2,302,514Liabilities 2024: $74,727Net Assets 2024: $2,227,7872024Assets 2025: $2,447,339Liabilities 2025: $20,384Net Assets 2025: $2,426,9552025

Highlighted filing

2015

Assets$642,011
Liabilities$0
Net Assets$642,011
Open 2015 Filing

Operations Trend

Revenue Growth43rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$800K$600K$400K$200K$0Expenses 2011: $16,1542011Expenses 2012: $147,7682012Revenue 2013: $391,685Expenses 2013: $298,148Net Income 2013: $93,5372013Revenue 2014: $393,072Expenses 2014: $313,428Net Income 2014: $79,6442014Revenue 2015: $393,944Expenses 2015: $361,397Net Income 2015: $32,5472015Revenue 2016: $400,278Expenses 2016: $249,094Net Income 2016: $151,1842016Revenue 2017: $403,755Expenses 2017: $269,907Net Income 2017: $133,8482017Revenue 2018: $423,381Expenses 2018: $338,355Net Income 2018: $85,0262018Revenue 2020: $571,012Expenses 2020: $325,075Net Income 2020: $245,9372020Revenue 2021: $490,923Expenses 2021: $440,099Net Income 2021: $50,8242021Revenue 2022: $495,154Expenses 2022: $474,614Net Income 2022: $20,5402022Revenue 2023: $624,930Expenses 2023: $464,043Net Income 2023: $160,8872023Revenue 2024: $599,226Expenses 2024: $493,849Net Income 2024: $105,3772024Revenue 2025: $528,909Expenses 2025: $334,515Net Income 2025: $194,3942025

Highlighted filing

2015

Revenue$393,944
Expenses$361,397
Net Income$32,547
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jul 22, 2016
Return Version
2015v2.1
Gross Receipts
$393,944
Mission and Program Overview

Mission

The foundation provides high school students from polk county the opportunity to receive aviation based scholarships for private pilot training, airframe and powerplant training, and college tuition in aviation related fields.

To support the central florida aerospace academy, a public high school "career academy"

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$497,129$488,233▼ $8,896
Investments in Publicly Traded Securities$112,335$153,778▲ $41,443
Total Assets$609,464$642,011▲ $32,547
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$609,464$642,011▲ $32,547
Total Net Assets Fund Balance$609,464$642,011▲ $32,547
Total Liabilities and Net Assets / Fund Balance$609,464$642,011▲ $32,547
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Ricardo GarciaPresident
John LeenhoutsVice President
Theodore BrousseauSecretary
Charles AhearnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$391,500
Program Service Revenue
$0
Investment Income
$2,293
Other Revenue
$151
All Other Contributions
$391,500
Change in Net Assets
$32,547
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$357,808
Other Expenses$3,589
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$334,441--$334,441
Grants to Domestic Orgs$23,367--$23,367
Fees for Services Accounting-$1,750-$1,750
Office Expenses-$961-$961
Insurance-$650-$650
All Other Expenses-$228-$228
Total Functional Expenses$357,808$3,589$0$361,397
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Lakeland Aero Club IncLakeland, FL501(c)(3)2015 Oshkosh Trip, 2015 Airventure Trip, General Operating$12,022
SUN 'N FUN FLY-IN INCLakeland, FL501(c)(3)Pa-18 Project Aircraft - Aircraft Restoration, Scholarships$7,745
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“A copy of the form 990 is provided to the board of directors for approval before it is filed.”

Form 990, Part VI, Section C, Line 19

“The organization makes all governing documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Central Florida Aerospace Academy
EIN
27-0763731
Phone
8635593980
Address
3650 DRANE FIELD RD, LAKELAND, FL 33811-1208

Signing Officer

Name
Ricardo Garcia
Title
President
Phone
8635593980
Signed
2016-07-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ricardo Garcia
Formed
2009
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
10

Preparer

Firm
Cliftonlarsonallen Llp
Address
402 SOUTH KENTUCKY AVENUE SUITE 600, LAKELAND, FL 33801
Preparer
Lauren Ballard
Phone
8636805600
Raw XML Appendix340 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
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IRS990/BooksInCareOfDetail/PhoneNum02396495733
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IRS990/Desc0JAMES C RAY SCHOLARSHIP FUND - FLIGHT TRAINING AND COLLEGE TUITION SCHOLARSHIPS FOR POLK COUNTY HIGH SCHOOL STUDENTS AGED 13 THROUGH 18
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990ProvidedToGvrnBodyInd01
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IRS990/MissionDesc0THE ACADEMY PLACES STRONG EMPHASIS ON THE DEVELOPMENT OF SUPERIOR SCIENCE, TECHNOLOGY, ENGINEERING AND MATH (STEM) SKILLS, UTILIZING THE STUDY OF THE AEROSPACE INDUSTRY'S MANY ELEMENTS TO ACCOMPLISH THIS OBJECTIVE.THE CFAAF MISSION INVOLVES GATHERING SUPPORT FOR THE AVIATION AND AEROSPACE-RELATED ACTIVITIES OF THE ACADEMY AND SECURING FUNDING FOR THE CONTINUED DEVELOPMENT AND APPLICATION OF ITS UNIQUE CURRICULUM. BY PROVIDING ACADEMY STUDENTS WITH AN OPPORTUNITY TO EXPLORE AEROSPACE AND AVIATION, CFAAF BELIEVES THEY WILL BE ENCOURAGED AND INSPIRED TO PURSUE REWARDING CAREERS IN RELATED FIELDS.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME - 2014 AMOUNT: $ 349. 2015 AMOUNT: $ 151.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt12015 OSHKOSH TRIP, 2015 AIRVENTURE TRIP, GENERAL OPERATING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SUN 'N FUN FLY-IN INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1LAKELAND AERO CLUB INC
IRS990ScheduleI/RecipientTable/RecipientEIN0592803958
IRS990ScheduleI/RecipientTable/RecipientEIN1320463941
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt04175 MEDULLA ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13952 DOOLITTLE RD
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IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc1N/A
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0EFFECTIVE 1 JANUARY, 2014, THE FLIGHT TRAINING SCHOLARSHIPS HAVE BEEN SEPARATED INTO TWO CATEGORIES. FIRST TIME APPLICANTS MAY SELECT FROM ONE OF THREE PATHS, GLIDER SOLO, LIGHT SPORT AIRCRAFT (LSA) SOLO, OR PRIVATE PILOT SOLO, ("SOLO SCHOLARSHIPS"). AFTER SUCCESSFUL FIRST SOLO, AN ADDITIONAL SCHOLARSHIP IS AVAILABLE FOR PRIVATE PILOT - GLIDER, LIGHT SPORT - AIRPLANE, OR PRIVATE PILOT - AIRPLANE CERTIFICATION, ("CERTIFICATE SCHOLARSHIPS"). SOLO SCHOLARSHIPS WILL PAY 100% OF THE TRAINING EXPENSES, UP TO THE LIMITS SPECIFIED, INCURRED DURING TRAINING TO COMPLETE "FIRST SOLO". BARRING CIRCUMSTANCES BEYOND THEIR CONTROL, THE RECIPIENT MUST COMPLETE THEIR FIRST SOLO WITHIN SIX (6) MONTHS OF COMMENCEMENT OF TRAINING, OR THE SCHOLARSHIP IS ENDED. FOLLOWING SUCCESSFUL COMPLETION OF THE SOLO SCHOLARSHIP, THE RECIPIENT CAN SUBMIT AN UPDATED APPLICATION FOR AWARD OF A CERTIFICATE SCHOLARSHIP. THE CERTIFICATE SCHOLARSHIP WILL PROVIDE SCHOLARSHIP FUNDING TO PAY 90% OF THE EXPENSES, UP TO THE LIMITS SPECIFIED, INCURRED IN THE TRAINING THAT REMAINS TO COMPLETE THE FAA AIRMEN CERTIFICATE BEING SOUGHT, PRIVATE PILOT - GLIDER, LIGHT SPORT AIRPLANE, OR PRIVATE PILOT - AIRPLANE. THE RECIPIENT WILL BE RESPONSIBLE FOR PAYMENT OF 10% OF THE EXPENSES DURING THE CERTIFICATE SCHOLARSHIP, AND MUST COMPLETE THEIR TRAINING WITHIN TWELVE (12) MONTHS OF COMMENCEMENT OF CERTIFICATE SCHOLARSHIP TRAINING. SCHOLARSHIP RECIPIENTS ARE EXPECTED TO MAINTAIN THEIR GPA AT OR ABOVE THE 2.75 GPA MINIMUM, AND NOTIFY THE SCHOLARSHIP COMMITTEE IF THEIR GRADES FALL BELOW THAT LEVEL. RECIPIENTS ARE ALSO EXPECTED TO MAINTAIN GOOD CHARACTER, STAY OUT OF TROUBLE AND PUT FORTH THEIR BEST EFFORT TO COMPLETE THE TRAINING IN THE TIMEFRAMES SPECIFIED. SHORTCOMINGS IN THESE AREAS WILL BE GROUNDS FOR DISMISSAL FROM THE PROGRAM. PLEASE CONSIDER YOUR ABILITY TO COMMIT TO THIS PROGRAM BEFORE SUBMITTING YOUR APPLICATION. SUCCESSFUL FLIGHT TRAINING REQUIRES A DEDICATED AND DILIGENT EFFORT ON BEHALF OF THE STUDENT AND INSTRUCTOR. THE SCHOLARSHIP AWARDS THEREFORE WILL BE FOR A LIMITED DURATION, ENCOURAGING THE RECIPIENT TO FLY OFTEN ENOUGH EACH WEEK TO PROCEED AT AN ACCEPTABLE PACE THROUGH THE TRAINING.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt02
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR APPROVAL BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ALL GOVERNING DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
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IRS990/WebsiteAddressTxt0WWW.CFAAF.COM
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ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICARDO GARCIA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08635593980
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-07-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENTRAL FLORIDA AEROSPACE ACADEMY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0402 SOUTH KENTUCKY AVENUE SUITE 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAKELAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033801
ReturnHeader/PreparerPersonGrp/PhoneNum08636805600
ReturnHeader/PreparerPersonGrp/PreparationDt02016-07-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAUREN BALLARD
ReturnHeader/ReturnTs02016-08-02T10:23:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$642,011
Liabilities
$0
Net assets
$642,011
Revenue
$393,944
Expenses
$361,397
Net income
$32,547
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.45$0.02$2.43$0.53$0.33$0.19
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.30$0.07$2.23$0.60$0.49$0.11
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.84$0.00$1.84$0.62$0.46$0.16
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.55$0.00$1.55$0.50$0.47$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.65$0.01$1.65$0.49$0.44$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.47$0.01$1.46$0.57$0.33$0.25
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.07$0.02$1.04$0.42$0.34$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.03$0.05$0.98$0.40$0.27$0.13
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.79$0.00$0.79$0.40$0.25$0.15
2015Detailed filing. Detailed filing data is available for this year.$0.64$0.00$0.64$0.39$0.36$0.03
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.00$0.61$0.39$0.31$0.08
2013Detailed filing. Detailed filing data is available for this year.$0.53$0.00$0.53$0.39$0.30$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.00$0.44$0.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.00$0.19$0.02