Civic Intelligence

The Afit Foundation Air Force Institute of Technology

990 • Fiscal year 2022 • EIN 31-1190492

Jan 01, 2022 to Dec 31, 2022 • Filed on May 12, 2023

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

(937) 271-2459

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Higher debt load relative to assets than 33% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

49th percentile

0.02x

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

1st percentile

-1245%

Higher net margin than 1% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

10th percentile

-21%

Faster asset growth than 10% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-87%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$991,556

Down $259,726 (-21%) from 2021

Net Assets

Down

$991,136

Down $259,747 (-21%) from 2021

Liabilities

Up

$420

Up $21 (+5.3%) from 2021

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin1st percentile

Revenue

Down

$20,886

Down $144,440 (-87%) from 2021

Expenses

Up

$280,959

Up $220,508 (+365%) from 2021

Net Income

Down

-$260,073

Down $364,948 (-348%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth10th 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

2022

Assets$991,556
Liabilities$420
Net Assets$991,136
Open 2022 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

2022

Revenue$20,886
Expenses$280,959
Net Income-$260,073
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 12, 2023
Return Version
2022v5.0
Gross Receipts
$20,886
Mission and Program Overview

Mission

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

1.Informthealumni,formerfaculty,andfriendseverywhereofthemission,status,goals,andachievementsofAFIT;andofitsrolesinthecommunity,theAirForce,andindefense-relatededucation.2.ManagetheDistinguishedSpeakerSeries.3.RecognizeAFITalumni.4.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,213,681$939,874▼ $273,807
Cash and Non-Interest-Bearing Accounts$36,449$50,927▲ $14,478
Land, Buildings, and Equipment, Net$1,152$755▼ $397
Total Assets$1,251,282$991,556▼ $259,726
Liabilities
Accounts Payable and Accrued Expenses$399$420▲ $21
Total Liabilities$399$420▲ $21
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,250,883$991,136▼ $259,747
Total Liabilities and Net Assets / Fund Balance$1,251,282$991,556▼ $259,726

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,258-$5,258
Buildings$0--
Other Land Buildings$0--
Land$0--
Leasehold Improvements$0--
Other Securities$939,874--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022----$0
2021----$0
2020----$0
2019----$0
2018----$0
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Major General David W EidsauneChairman
Dr Amanda BullockVice President
Amber BegleyTrustee
CF Lance ChenaultTrustee
Captain Dean LaMonicaTrustee
Colonel Angela SuplissonTrustee
Colonel Michael HeilTrustee
Dr Mark DerrisoTrustee
Dr Vince RussoTrustee
Eugene SaundersTrustee
Kenneth L GinaderTrustee
Lt Colonel Kara GreeneTrustee
Maurice McDonaldTrustee
Megan BurkTrustee
Michael GesselTrustee
Ms Melinda TourangeauTrustee
Rear Admiral Randy MahrTrustee
Sarah BollerSecretary
Major General Everett G OdgersVP of Finance
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$20,886
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$-260,073

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$280,959
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
All Other Expenses$0$0$0$248,247
Fees for Services Legal---$14,137
Occupancy---$12,000
Office Expenses---$5,048
Fees for Services Accounting---$1,005
Depreciation Depletion---$397
Insurance---$125
Total Functional Expenses$0$0$0$280,959

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 Board 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, Sec A, Line 6 - Members/Stockholders

“Organization has members, but not decisions of the governing body is subject to their approval”

Form 990, Part VI, Sec A, Line 6 - Document meetings

“All meetings are recorded via minutes by the acting Secretary”

Filing and Contact Details

Filer

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

Signing Officer

Name
Everett G Odgers
Title
Treasurer
Phone
8778295500
Signed
2023-05-12
Discuss with paid preparer
Yes

Organization Details

Formed
1986
Legal Domicile
Oh
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
10

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 V, Line 12C - Conflict of Interest

“The Organization regularly and consistently monitors and enforces compliance with the conflict of interest policy by signing a letter stating there is none and follow up at annual board meetings.”

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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0Dayton Foundation and Commonwealth Financial Network
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$991,556
Liabilities
$420
Net assets
$991,136
Revenue
$20,886
Expenses
$280,959
Net income
-$260,073
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