Civic Intelligence

The Afit Foundation Air Force Institute of Technology

990 • Fiscal year 2021 • EIN 31-1190492

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 15, 2022

Organization Profilewww.afitfoundation.org
3100 Presidential Drive Ste 220Fairborn, OH 45432

(937) 271-2459

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

Higher debt load relative to assets than 18% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

20th percentile

0.00x

Higher debt load relative to revenue than 20% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

91st percentile

63%

Higher net margin than 91% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

50th percentile

9.1%

Faster asset growth than 50% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

50th percentile

13%

Faster revenue growth than 50% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$1,251,282

Up $104,465 (+9.1%) from 2020

Net Assets

Up

$1,250,883

Up $104,845 (+9.1%) from 2020

Liabilities

Down

$399

Down $380 (-49%) from 2020

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin91st percentile

Revenue

Up

$165,326

Up $18,405 (+13%) from 2020

Expenses

Up

$60,451

Up $2,314 (+4.0%) from 2020

Net Income

Up

$104,875

Up $16,091 (+18%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth50th 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

2021

Assets$1,251,282
Liabilities$399
Net Assets$1,250,883
Open 2021 Filing

Operations Trend

Revenue Growth50th 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

2021

Revenue$165,326
Expenses$60,451
Net Income$104,875
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 15, 2022
Return Version
2021v4.2
Gross Receipts
$165,326
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,114,136$1,213,681▲ $99,545
Cash and Non-Interest-Bearing Accounts$32,681$36,449▲ $3,768
Land, Buildings, and Equipment, Net$0$1,152▲ $1,152
Total Assets$1,146,817$1,251,282▲ $104,465
Liabilities
Other Liabilities$473--
Accounts Payable and Accrued Expenses$306$399▲ $93
Total Liabilities$779$399▼ $380
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,146,038$1,250,883▲ $104,845
Total Liabilities and Net Assets / Fund Balance$1,146,817$1,251,282▲ $104,465

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,435-$3,435
Buildings$0--
Other Land Buildings$0--
Land$0--
Leasehold Improvements$0--
Other Securities$1,213,681--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021----$0
2020----$0
2019----$0
2018----$0
2017----$0
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Major General David W EidsauneChairman
Dr Amber BullockVice President
Amber BegleyTrustee
CF Lance ChenaultTrustee
Colonel Angela SuplissonTrustee
Colonel Michael HeilTrustee
Dr Kevin GrossTrustee
Dr Stephen ChambalTrustee
Eugene SaundersTrustee
Kenneth L GinaderTrustee
Maurice McDonaldTrustee
Megan BurkTrustee
Michael GesselTrustee
Rear Admiral Randy MahrTrustee
Sarah BollerSecretary
Major General Everett G OdgersVP of Finance
Revenue and Support

Revenue Composition

Contributions and Grants
$1,061
Program Service Revenue
$0
Investment Income
$158,366
Other Revenue
$5,899
All Other Contributions
$1,061
Change in Net Assets
$104,875

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$57,777
Salaries, Compensation, and Employee Benefits$2,674
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$14,919-$14,919
Occupancy-$12,000-$12,000
Office Expenses-$4,629-$4,629
Other Salaries and Wages-$2,674-$2,674
Other Expenses$13,095$1,350-$1,350
Fees for Services Accounting-$1,005-$1,005
Depreciation Depletion---$661
All Other Expenses$500$0$0$500
Advertising-$155-$155
Insurance-$125-$125
Total Functional Expenses$13,595$46,195$0$60,451

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 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.”

Filing and Contact Details

Filer

Filer Name
The AFIT Foundation
EIN
31-1190492
Phone
9372712459
Address
3100 Presidential Drive Ste 220, Fairborn, OH 45432

Signing Officer

Name
Everett Odgers
Title
Treasurer
Phone
8778295500
Signed
2022-07-15
Discuss with paid preparer
Yes

Organization Details

Formed
1986
Legal Domicile
Oh
Voting Board Members
17
Independent Board Members
17
Employees
0

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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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21350
IRS990/OtherExpensesGrp/ProgramServicesAmt013095
IRS990/OtherExpensesGrp/TotalAmt068
IRS990/OtherExpensesGrp/TotalAmt113095
IRS990/OtherExpensesGrp/TotalAmt29270
IRS990/OtherExpensesGrp/TotalAmt31350
IRS990/OtherLiabilitiesGrp/BOYAmt0473
IRS990/OtherRevenueMiscGrp/Desc0Gain on sale of assets
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt05899
IRS990/OtherRevenueTotalAmt05899
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt02674
IRS990/OtherSalariesAndWagesGrp/TotalAmt02674
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Everett Odgers
IRS990/PriorPeriodAdjustmentsAmt0-30
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0120
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0146801
IRS990/PYOtherExpensesAmt058137
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt088784
IRS990/PYTotalExpensesAmt058137
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0146921
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0104875
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/DistributableAmountGrp/CYAdjNetIncomeDistributableAmt00
IRS990ScheduleA/DistributableAmountGrp/CYDistributableAsAdjustedAmt00
IRS990ScheduleA/DistributableAmountGrp/CYGreaterAdjustedMinimumAmt00
IRS990ScheduleA/DistributableAmountGrp/CYIncomeTaxImposedPYAmt00
IRS990ScheduleA/DistributableAmountGrp/CYPct85AdjustedNetIncomeAmt00
IRS990ScheduleA/DistributableAmountGrp/CYTotalMinAstDistributableAmt00
IRS990ScheduleA/DistributionAllocationsGrp/CarryoverPYNotAppliedAmt00
IRS990ScheduleA/DistributionAllocationsGrp/CYDistriAppDistributableAmt00
IRS990ScheduleA/DistributionAllocationsGrp/CYDistribAppUnderdistriPYAmt00
IRS990ScheduleA/DistributionAllocationsGrp/CYDistributableAsAdjustedAmt00
IRS990ScheduleA/DistributionAllocationsGrp/CyovAppliedUnderdistrCPYAmt00
IRS990ScheduleA/DistributionAllocationsGrp/CyovAppliedUnderdistriPYAmt00
IRS990ScheduleA/DistributionAllocationsGrp/CYTotalAnnualDistributionsAmt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessDistributionAmt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessDistributionCyovAmt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessDistributionCyovYr1Amt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessDistributionCyovYr2Amt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessDistributionCyovYr3Amt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessDistributionCyovYr4Amt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessDistributionCyovYr5Amt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessDistriCyovToNextYrAmt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessFromYear1Amt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessFromYear2Amt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessFromYear3Amt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessFromYear4Amt00
IRS990ScheduleA/DistributionAllocationsGrp/ExcessFromYear5Amt00
IRS990ScheduleA/DistributionAllocationsGrp/RemainingUnderdistriCYAmt00
IRS990ScheduleA/DistributionAllocationsGrp/RemainingUnderdistriPYAmt00
IRS990ScheduleA/DistributionAllocationsGrp/TotalExcessDistributionCyovAmt00
IRS990ScheduleA/DistributionAllocationsGrp/UnderdistributionsAmt00
IRS990ScheduleA/DistributionsGrp/CYAdministrativeExpensePaidAmt00
IRS990ScheduleA/DistributionsGrp/CYDistriAttentiveSuprtOrgAmt00
IRS990ScheduleA/DistributionsGrp/CYDistributableAsAdjustedAmt00
IRS990ScheduleA/DistributionsGrp/CYDistributionYrRt00
IRS990ScheduleA/DistributionsGrp/CYOtherDistributionsAmt00
IRS990ScheduleA/DistributionsGrp/CYPaidAccomplishExemptPrpsAmt00
IRS990ScheduleA/DistributionsGrp/CYPdInExcessIncomeActivityAmt00
IRS990ScheduleA/DistributionsGrp/CYTotalAnnualDistributionsAmt00
IRS990ScheduleA/DistributionsGrp/ExemptUseAssetsAcquisPaidAmt00
IRS990ScheduleA/DistributionsGrp/QualifiedSetAsideAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt01061
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0450
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01369
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01000032
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt03627
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01006539
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt01006539
IRS990ScheduleA/SupportSumAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01061
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0450
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01369
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01000032
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt03627
IRS990ScheduleA/Total509Grp/TotalAmt01006539
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01061
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0450
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01369
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01000032
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt03627
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01006539
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/EndingBalanceAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt03435
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03435
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01213681
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Dayton Foundation and Commonwealth Fianancial Network
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueNotReportedAmt00

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,251,282
Liabilities
$399
Net assets
$1,250,883
Revenue
$165,326
Expenses
$60,451
Net income
$104,875
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