Civic Intelligence

The Afit Foundation Air Force Institute of Technology

990 • Fiscal year 2019 • EIN 31-1190492

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 12, 2020

Organization Profilewww.afitfoundation.org
3541 Dayton Xenia Rd PO Box 341684Beavercreek, OH 45434

(877) 829-5500

Siviq Scores

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

Liabilities / Assets

25th percentile

0.01x

Higher debt load relative to assets than 25% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

49th percentile

0.08x

Higher debt load relative to revenue than 49% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

93rd percentile

58%

Higher net margin than 93% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

57th percentile

5.3%

Faster asset growth than 57% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-92%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$1,063,831

Up $53,643 (+5.3%) from 2018

Net Assets

Up

$1,057,101

Up $46,913 (+4.6%) from 2018

Liabilities

Up

$6,730

Up $6,730 from 2018

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin93rd percentile

Revenue

Down

$81,376

Down $918,760 (-92%) from 2018

Expenses

Up

$34,465

Up $33,579 (+3790%) from 2018

Net Income

Down

$46,911

Down $952,339 (-95%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$1.5M$1.0M$500K$0Assets 2018: $1,010,188Liabilities 2018: $0Net Assets 2018: $1,010,1882018Assets 2019: $1,063,831Liabilities 2019: $6,730Net Assets 2019: $1,057,1012019Assets 2020: $1,146,817Liabilities 2020: $779Net Assets 2020: $1,146,0382020Assets 2021: $1,251,282Liabilities 2021: $399Net Assets 2021: $1,250,8832021Assets 2022: $991,556Liabilities 2022: $420Net Assets 2022: $991,1362022Assets 2023: $1,156,502Liabilities 2023: $3,697Net Assets 2023: $1,152,8052023Assets 2024: $1,307,794Liabilities 2024: $167Net Assets 2024: $1,307,6272024

Highlighted filing

2019

Assets$1,063,831
Liabilities$6,730
Net Assets$1,057,101
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $1,000,136Expenses 2018: $886Net Income 2018: $999,2502018Revenue 2019: $81,376Expenses 2019: $34,465Net Income 2019: $46,9112019Revenue 2020: $146,921Expenses 2020: $58,137Net Income 2020: $88,7842020Revenue 2021: $165,326Expenses 2021: $60,451Net Income 2021: $104,8752021Revenue 2022: $20,886Expenses 2022: $280,959Net Income 2022: -$260,0732022Revenue 2023: $239,841Expenses 2023: $78,172Net Income 2023: $161,6692023Revenue 2024: $233,769Expenses 2024: $78,947Net Income 2024: $154,8222024

Highlighted filing

2019

Revenue$81,376
Expenses$34,465
Net Income$46,911
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 12, 2020
Return Version
2019v5.1
Gross Receipts
$81,376
Mission and Program Overview

Mission

The Mission of the AFIT Foundation is to support the goals of Air Force Institute of Technology

The Mission of the AFIT Foundation is to support the goals of Air Force Institute of Technology. 1. Inform the alumni, former faculty, and friends everywhere of the mission, status, goals, and achievements of AFIT; and of its roles in the community, the Air Force, and in defense-related education. 2. Manage the Distinguished Speaker Series. 3. Recognize AFIT alumni. 4. Organize activities for local alumni. 5. Maintain and invest donated and honorary award funds, endowments, and foundation dues. 6. Recognize AFIT graduates

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities-$980,005-
Cash and Non-Interest-Bearing Accounts$1,010,188$83,826▼ $926,362
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$1,010,188$1,063,831▲ $53,643
Liabilities
Accounts Payable and Accrued Expenses-$6,730-
Total Liabilities$0$6,730▲ $6,730
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,010,188$1,057,101▲ $46,913
Total Liabilities and Net Assets / Fund Balance$1,010,188$1,063,831▲ $53,643

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,445-$3,445
Buildings$0--
Other Land Buildings$0--
Land$0--
Leasehold Improvements$0--
Other Securities$980,005--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019----$0
2018----$0
2017----$0
2016----$0
2015----$0
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Maj Gen David W EidsauneChairman
Alix BeckerTrustee
Amber BegleyTrustee
C F Lance ChenaultTrustee
Colonel Michael HeilTrustee
Dr Amanda BullockTrustee
Dr Kevin GrossTrustee
Dr Ray O JohnsonTrustee
Dr Stephen ChambalTrustee
Kenneth L GinaderTrustee
Maurice McDonaldTrustee
Rear Admiral Randy MahrTrustee
Sarah BollerTrustee
Maj Gen Everett G Odgers USAFVP Finance
Revenue and Support

Revenue Composition

Contributions and Grants
$1,369
Program Service Revenue
$0
Investment Income
$80,007
Other Revenue
$0
Change in Net Assets
$46,911

Audited Revenue Reconciliation

Revenue per Audited Statements
$0
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Form 990
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$34,465
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$8,020-$8,020
Occupancy-$7,081-$7,081
Information Technology-$6,069-$6,069
Other Expenses$3,834--$3,834
Depreciation Depletion-$3,445-$3,445
Office Expenses$25$2,640-$2,665
Fees for Services Accounting-$1,595-$1,595
Insurance-$875-$875
Conferences and Meetings$250$131-$381
Total Functional Expenses$4,609$29,856$0$34,465

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Total Expenses per Form 990$0
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
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No

Governance Explanations

Form 990, Part VI, Line 1A - Explanation of Delegated Broad Authority to Committee

“The Executive Committee, during the intervals between meetings of the Board of Trustees, possesses and may exercise all of the powers of the Board of Trustees in the management and control of the business, affairs and properties of the Foundation which the Board of Trustees may lawfully delegate to it. The Finance Committee, during the intervals between the meetings of the Board of Trustees, possesses and may exercise such of the powers of the Board of Trustees in the management, investment and reinvestment of the funds of the Foundation as the Board of Trustees may, from time to time, lawfully delegate to it, in such manner as the Finance Committee may deem to be for the best interests of the Foundation, but any action of the Finance Committee shall be subject to revision, alteration or rescission by the Board of Trustees, provided that no right of third parties shall be affected by any such revision, alteration or rescission.”

Form 990, Part VI, Line 11B - Form 990 Review Process

“Form 990 reviewed by VP of Finance and made available to governing body.”

Form 990, Part VI, Line 19 - Other Organization Documents Publicly Available

“The AFIT Foundation's Consitituion and Articles of Incorporation are posted on the website. The annual IRS Form 990 is available upon request.”

Filing and Contact Details

Filer

Filer Name
The AFIT Foundation
EIN
31-1190492
Phone
8778295500
Address
3541 Dayton Xenia Rd PO Box 341684, Beavercreek, OH 45434

Signing Officer

Name
Everett Odgers
Title
Treasurer
Phone
9372712459
Signed
2020-07-12

Organization Details

Formed
1986
Voting Board Members
14
Independent Board Members
14
Employees
0

Preparer

Firm
Symmetry Advisory Solutions LLC
Address
70 Birch Alley Suite 240 PMB 24006, Dayton, OH 45440
Preparer
Teresa Fox
Phone
9377017961
Supplemental Narrative

Additional Explanations

Form 990, Part XI Reconciliation of Net Assets, Line 9

“Rounding error of $2”

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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/PYTotalExpensesAmt0886
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01000136
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IRS990/ReconcilationRevenueExpnssAmt046911
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IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt01369
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt03627
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01005028
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IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt02
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt02
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct00.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt01005028
IRS990ScheduleA/SupportSumAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01369
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01000032
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt03627
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/Total509Grp/TotalAmt01005028
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01371
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01000032
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt03627
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01005030
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/EndingBalanceAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt03445
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03445
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0980005
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Dayton Foundation and Commonwealth Financial Network
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03445
IRS990ScheduleD/TotalBookValueOtherAssetsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt0980005
IRS990ScheduleD/TotalExpensesPerForm990Amt00
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt00
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Executive Committee, during the intervals between meetings of the Board of Trustees, possesses and may exercise all of the powers of the Board of Trustees in the management and control of the business, affairs and properties of the Foundation which the Board of Trustees may lawfully delegate to it. The Finance Committee, during the intervals between the meetings of the Board of Trustees, possesses and may exercise such of the powers of the Board of Trustees in the management, investment and reinvestment of the funds of the Foundation as the Board of Trustees may, from time to time, lawfully delegate to it, in such manner as the Finance Committee may deem to be for the best interests of the Foundation, but any action of the Finance Committee shall be subject to revision, alteration or rescission by the Board of Trustees, provided that no right of third parties shall be affected by any such revision, alteration or rescission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 reviewed by VP of Finance and made available to governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The AFIT Foundation's Consitituion and Articles of Incorporation are posted on the website. The annual IRS Form 990 is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Rounding error of $2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 1a - Explanation of Delegated Broad Authority to Committee
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b - Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19 - Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI Reconciliation of Net Assets, Line 9
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01063831
IRS990/TotalAssetsGrp/BOYAmt01010188
IRS990/TotalAssetsGrp/EOYAmt01063831
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01369
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt029856
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04609
IRS990/TotalFunctionalExpensesGrp/TotalAmt034465
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt06730
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt06730
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01010188
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01057101
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03860
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt081376
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01010188
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01063831
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03541 Dayton Xenia Rd PO Box 45434
IRS990/USAddress/CityNm0Beavercreek
IRS990/USAddress/StateAbbreviationCd0OH

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,063,831
Liabilities
$6,730
Net assets
$1,057,101
Revenue
$81,376
Expenses
$34,465
Net income
$46,911
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.31$0.00$1.31$0.23$0.08$0.15
2023Detailed filing. Detailed filing data is available for this year.$1.16$0.00$1.15$0.24$0.08$0.16
2022Detailed filing. Detailed filing data is available for this year.$0.99$0.00$0.99$0.02$0.28$0.26
2021Detailed filing. Detailed filing data is available for this year.$1.25$0.00$1.25$0.17$0.06$0.10
2020Detailed filing. Detailed filing data is available for this year.$1.15$0.00$1.15$0.15$0.06$0.09
2019Detailed filing. Detailed filing data is available for this year.$1.06$0.01$1.06$0.08$0.03$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.01$0.00$1.01$1.00$0.00$1.00