Civic Intelligence

The Afit Foundation Air Force Institute of Technology

990 • Fiscal year 2020 • EIN 31-1190492

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 19, 2021

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

(877) 829-5500

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Higher debt load relative to assets than 17% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

19th percentile

0.01x

Higher debt load relative to revenue than 19% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

93rd percentile

60%

Higher net margin than 93% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

54th percentile

7.8%

Faster asset growth than 54% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

91st percentile

81%

Faster revenue growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$1,146,817

Up $82,986 (+7.8%) from 2019

Net Assets

Up

$1,146,038

Up $88,937 (+8.4%) from 2019

Liabilities

Down

$779

Down $5,951 (-88%) from 2019

Revenue And Expenses
Liabilities / Revenue19th percentileNet Margin93rd percentile

Revenue

Up

$146,921

Up $65,545 (+81%) from 2019

Expenses

Up

$58,137

Up $23,672 (+69%) from 2019

Net Income

Up

$88,784

Up $41,873 (+89%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth54th 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

2020

Assets$1,146,817
Liabilities$779
Net Assets$1,146,038
Open 2020 Filing

Operations Trend

Revenue Growth91st 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

2020

Revenue$146,921
Expenses$58,137
Net Income$88,784
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 19, 2021
Return Version
2020v4.1
Gross Receipts
$146,921
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$980,005$1,114,136▲ $134,131
Cash and Non-Interest-Bearing Accounts$83,826$32,681▼ $51,145
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$1,063,831$1,146,817▲ $82,986
Liabilities
Other Liabilities-$473-
Accounts Payable and Accrued Expenses$6,730$306▼ $6,424
Total Liabilities$6,730$779▼ $5,951
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,057,101$1,146,038▲ $88,937
Total Liabilities and Net Assets / Fund Balance$1,063,831$1,146,817▲ $82,986

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$3,445$3,445
Buildings$0--
Other Land Buildings$0--
Land$0--
Leasehold Improvements$0--
Other Securities$1,114,136--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020----$0
2019----$0
2018----$0
2017----$0
2016----$0
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Major Gen David W EidsauneChairman
Dr Amanda BullockVice President
Amber BegleyTrustee
C F Lance ChenaultTrustee
Colonel Michael HeilTrustee
Dr Kevin GrossTrustee
Dr Ray JohnsonTrustee
Dr Stephen ChambalTrustee
Kenneth GinaderTrustee
Maurice McDonaldTrustee
Michael GesselTrustee
Rear Admiral Randy MahrTrustee
Sarah BollerSecretary
Major Gen Everett OdgersVP of Finance
Revenue and Support

Revenue Composition

Contributions and Grants
$120
Program Service Revenue
$0
Investment Income
$146,801
Other Revenue
$0
Change in Net Assets
$88,784

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$58,137
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
Occupancy-$13,000-$13,000
Fees for Service Investment Mgmnt Fees-$12,670-$12,670
Office Expenses-$9,707-$9,707
Fees for Services Other-$7,117-$7,117
Fees for Services Legal-$6,000-$6,000
All Other Expenses$295$3,576$0$3,871
Other Expenses$778$1,075-$1,853
Fees for Services Accounting-$1,020-$1,020
Insurance-$555-$555
Conferences and Meetings$31--$31
Total Functional Expenses$1,604$56,533$0$58,137

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 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”

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”

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

“affected by any such revision, alteration or rescission. Form 990 reviewed by VP of Finance and made available to governing body.”

Filing and Contact Details

Filer

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

Signing Officer

Name
Everett G Odgers
Title
Treasurer
Phone
9372712459
Signed
2021-07-19
Discuss with paid preparer
Yes

Organization Details

Formed
1986
Legal Domicile
Oh
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
4

Preparer

Firm
Symmetry Advisory Solutions LLC
Address
70 Birch Alley Suite 240 PMB 24006, Dayton, OH 45440
Preparer
Teresa Fox
Phone
9377017961
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01114136
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Dayton Foundation and Commonwealth Financial Network
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The AFIT Foundation's Consitituion and Articles of Incorporation are posted on the website. The annual IRS Form 990 is available upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 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
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2affected by any such revision, alteration or rescission. Form 990 reviewed by VP of Finance and made available to governing body.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 19 - Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 1a - Explanation of Delegated Broad Authority to Committee

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,146,817
Liabilities
$779
Net assets
$1,146,038
Revenue
$146,921
Expenses
$58,137
Net income
$88,784
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