Civic Intelligence

Central Florida Aerospace Academy Foundation Inc.

990 • Fiscal year 2017 • EIN 27-0763731

Jan 01, 2017 to Dec 31, 2017 • Filed on Feb 22, 2018

Organization ProfileWWW.CFAAF.COM
4175 Medulla RoadLakeland, FL 33811

(863) 644-2431

Siviq Scores

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

Liabilities / Assets

40th percentile

0.04x

Higher debt load relative to assets than 40% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

53rd percentile

0.11x

Higher debt load relative to revenue than 53% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

86th percentile

33%

Higher net margin than 86% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

85th percentile

29%

Faster asset growth than 85% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

40th percentile

0.9%

Faster revenue growth than 40% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$1,025,796

Up $232,601 (+29%) from 2016

Net Assets

Up

$980,082

Up $186,887 (+24%) from 2016

Liabilities

Up

$45,714

Up $45,714 from 2016

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin86th percentile

Revenue

Up

$403,755

Up $3,477 (+0.9%) from 2016

Expenses

Up

$269,907

Up $20,813 (+8.4%) from 2016

Net Income

Down

$133,848

Down $17,336 (-11%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth85th 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

2017

Assets$1,025,796
Liabilities$45,714
Net Assets$980,082
Open 2017 Filing

Operations Trend

Revenue Growth40th 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

2017

Revenue$403,755
Expenses$269,907
Net Income$133,848
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Feb 22, 2018
Return Version
2017v2.2
Gross Receipts
$403,755
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 students in polk county achieve aerospace educational opportunities

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$583,890$693,311▲ $109,421
Investments in Publicly Traded Securities$209,305$332,485▲ $123,180
Total Assets$793,195$1,025,796▲ $232,601
Liabilities
Accounts Payable and Accrued Expenses-$45,714-
Total Liabilities$0$45,714▲ $45,714
Net Assets / Fund Balance
Unrestricted Net Assets$793,195$980,082▲ $186,887
Total Net Assets Fund Balance$793,195$980,082▲ $186,887
Total Liabilities and Net Assets / Fund Balance$793,195$1,025,796▲ $232,601
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$400,113
Program Service Revenue
$0
Investment Income
$3,431
Other Revenue
$211
All Other Contributions
$400,113
Change in Net Assets
$133,848
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$266,968
Other Expenses$2,939
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$266,968--$266,968
Fees for Services Accounting-$1,250-$1,250
Office Expenses-$713-$713
Insurance-$676-$676
Fees for Services Other$300--$300
Total Functional Expenses$267,268$2,639$0$269,907
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 11B

“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
8636442431
Address
4175 MEDULLA ROAD, LAKELAND, FL 33811

Signing Officer

Name
Ricardo Garcia
Title
President
Phone
8635593980
Signed
2018-02-22
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 Appendix319 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.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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IRS990/MissionDesc0THE FOUNDATION PROVIDES YOUNG MEN AND WOMEN RESIDING IN POLK COUNTY FLORIDA THE OPPORTUNITY TO RECEIVE SCHOLARSHIPS TO SOLO AIRCRAFT, RECEIVE THEIR PRIVATE PILOTS CERTIFICATION, AND CONTINUE THEIR EDUCATION AT INSTITUTIONS OF HIGHER LEARNING.THE CFAAF MISSION INVOLVES GATHERING SUPPORT FOR THE AVIATION ANDAEROSPACE-RELATED ACTIVITIES OF THE STUDENTS IN POLK COUNTY AND SECURING FUNDING FOR THE CONTINUED DEVELOPMENT AND APPLICATION OF ITS UNIQUE LEARNING PLATFORM. 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.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME - 2014 AMOUNT: $ 349. 2015 AMOUNT: $ 151. 2016 AMOUNT: $ 211. 2017 AMOUNT: $ 211.
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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 SIX 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 TO MAINTAIN GOOD MORAL CHARACTER AND PUT FORTH THEIR BEST EFFORT TO COMPLETE THE TRAINING IN THE TIMEFRAMES SPECIFIED.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt045714
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0793195
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0980082
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0267268
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt03642
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0403755
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0793195
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01025796
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0793195
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0980082
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04175 MEDULLA ROAD
IRS990/USAddress/CityNm0LAKELAND
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033811
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.CFAAF.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICARDO GARCIA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08635593980
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENTRAL FLORIDA AEROSPACE ACADEMY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0CENT
ReturnHeader/Filer/EIN0270763731
ReturnHeader/Filer/PhoneNum08636442431
ReturnHeader/Filer/USAddress/AddressLine1Txt04175 MEDULLA ROAD
ReturnHeader/Filer/USAddress/CityNm0LAKELAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033811
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId02AEB61507DCC7F9CD840C370178C53350C3F626D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D18C1715529234A212CBE61F6419471B1C972B41
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.137.57.251
ReturnHeader/FilingSecurityInformation/IPDt02018-02-22
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm010:41:48
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/PreparationDt02018-02-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAUREN BALLARD
ReturnHeader/ReturnTs02018-02-28T07:58:25-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,025,796
Liabilities
$45,714
Net assets
$980,082
Revenue
$403,755
Expenses
$269,907
Net income
$133,848
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
2017Detailed filing. Detailed filing data is available for this year.$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
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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