Civic Intelligence

Tailhook Educational Foundation Inc.

990 • Fiscal year 2018 • EIN 33-0487778

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 05, 2019

Organization Profilewww.tailhook.net
9696 Businesspark AvenueSan Diego, CA 92131-1643

(858) 689-9223

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

81st percentile

26%

Higher net margin than 81% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

48th percentile

$60,000

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 8.7% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

28th percentile

-3.7%

Faster asset growth than 28% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

51st percentile

4.1%

Faster revenue growth than 51% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets14th percentile

Assets

Down

$3,737,814

Down $145,413 (-3.7%) from 2017

Net Assets

Down

$3,737,814

Down $132,913 (-3.4%) from 2017

Liabilities

Down

$0

Down $12,500 (-100%) from 2017

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin81st percentile

Revenue

Up

$687,263

Up $27,310 (+4.1%) from 2017

Expenses

Down

$510,989

Down $3,743 (-0.7%) from 2017

Net Income

Up

$176,274

Up $31,053 (+21%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2017: $3,883,227Liabilities 2017: $12,500Net Assets 2017: $3,870,7272017Assets 2018: $3,737,814Liabilities 2018: $0Net Assets 2018: $3,737,8142018Assets 2019: $4,272,798Liabilities 2019: $5,500Net Assets 2019: $4,267,2982019Assets 2020: $4,470,860Liabilities 2020: $0Net Assets 2020: $4,470,8602020Assets 2021: $4,774,897Liabilities 2021: $0Net Assets 2021: $4,774,8972021Assets 2022: $4,368,243Liabilities 2022: $0Net Assets 2022: $4,368,2432022Assets 2023: $5,114,773Liabilities 2023: $55,474Net Assets 2023: $5,059,2992023Assets 2024: $6,241,674Liabilities 2024: $68,070Net Assets 2024: $6,173,6042024

Highlighted filing

2018

Assets$3,737,814
Liabilities$0
Net Assets$3,737,814
Open 2018 Filing

Operations Trend

Revenue Growth51st percentile

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

$3.0M$2.0M$1.0M$0Revenue 2017: $659,953Expenses 2017: $514,732Net Income 2017: $145,2212017Revenue 2018: $687,263Expenses 2018: $510,989Net Income 2018: $176,2742018Revenue 2019: $901,173Expenses 2019: $554,010Net Income 2019: $347,1632019Revenue 2020: $662,996Expenses 2020: $596,202Net Income 2020: $66,7942020Revenue 2021: $810,703Expenses 2021: $639,678Net Income 2021: $171,0252021Revenue 2022: $945,954Expenses 2022: $754,617Net Income 2022: $191,3372022Revenue 2023: $1,009,966Expenses 2023: $800,775Net Income 2023: $209,1912023Revenue 2024: $2,121,462Expenses 2024: $1,072,382Net Income 2024: $1,049,0802024

Highlighted filing

2018

Revenue$687,263
Expenses$510,989
Net Income$176,274
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 5, 2019
Return Version
2018v3.1
Gross Receipts
$1,580,820
Mission and Program Overview

Mission

to educate the nations public with regard to the history and present day activities of the US Navy Carrier Aviation and its importance to our Countrys national security. The main activity is to provide scholarships to the children/grandchildren of current/ former Navy carrier aviation personnel.

to educate the public about the history and present day activities of the US Navy Carrier Aviation and to provide scholarships to the children/grandchild of navy personnel.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,668,068$3,513,012▼ $155,056
Cash and Non-Interest-Bearing Accounts$215,159$224,802▲ $9,643
Total Assets$3,883,227$3,737,814▼ $145,413
Liabilities
Grants Payable$12,500--
Total Liabilities$12,500$0▼ $12,500
Net Assets / Fund Balance
Unrestricted Net Assets$3,870,727$3,737,814▼ $132,913
Total Net Assets Fund Balance$3,870,727$3,737,814▼ $132,913
Total Liabilities and Net Assets / Fund Balance$3,883,227$3,737,814▼ $145,413

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$3,500-
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Rodger WelchExecutive DirectorPT$60,000$60,000
Beth RollinsRecording SecretaryPT$38,511$38,511

Board Members and Trustees

NameTitle
JJ QuinnPresident
Chuck WrightDirector
Greg KeithleyDirector
Greg PeairsDirector
Hunter HobsonDirector
Jack EnschDirector
Jack ShullerDirector
James KidrickDirector
Jim GigliottiDirector
Jon WinthropDirector
Kevin McLaughlinDirector
RW NelsonDirector
Stephen LaukaitisDirector
Ted BranchDirector
Tighe ParmenterDirector
Tom HejlDirector
Stephen WebbTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$500,892
Program Service Revenue
$1,800
Investment Income
$184,571
Other Revenue
$0
All Other Contributions
$500,087
Change in Net Assets
$176,274

Audited Revenue Reconciliation

Revenue per Audited Statements
$687,263
Revenue Not Reported on Form 990
$-309,187
Total Revenue per Audited Statements
$378,076
Total Revenue per Form 990
$687,263
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$326,921
Salaries, Compensation, and Employee Benefits$98,511
Other Expenses$85,557
Total Fundraising Expense$14,536
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$297,675--$297,675
Current Officers, Directors, Trustees, and Key Employees$78,809$9,851$9,851$98,511
Payments to Affiliates$52,237$3,199$3,199$58,635
Grants to Domestic Orgs$29,246--$29,246
Fees for Services Accounting$10,616$1,326$1,326$13,268
Advertising$8,247--$8,247
Other Expenses$3,802--$3,802
Office Expenses$1,285$160$160$1,605
Total Functional Expenses$481,917$14,536$14,536$510,989

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$510,989
Total Expenses per Audited Statements$510,989
Total Expenses per Form 990$510,989
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Tailhook AssociationSan Diego, CA501c7contributed to office renovation$25,246
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Section B, Line 11A

“Form 990 is reviewed by the Management. Upon the Managements review and approval, it is forwarded to the Board of Directors for review and approval.”

Form 990, Part VI, Section B, Line 12C

“Each member of the Board of Directors signs a new conflict of interest policy on an annual basis. The Board is made aware of any potential conflict and the affected Board Member is recused from any discussion and /or vote regarding the area of potential conflict.”

Form 990, Part VI, Section B, Line 15B

“The Board of the affiliated organization reviews both the EDs and Administrative Officers compensation on an annual basis.”

Form 990, Part VI, Section C, Line 19

“Available upon request”

Filing and Contact Details

Filer

Filer Name
Tailhook Educational Foundation Inc
EIN
33-0487778
Phone
8586899223
Address
9696 Businesspark Avenue, San Diego, CA 92131-1643

Signing Officer

Name
Rodger Welch
Title
Executive Director
Signed
2019-06-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rodger Welch
Formed
1991
Legal Domicile
CA
Voting Board Members
17
Independent Board Members
19
Employees
0
Volunteers
20

Preparer

Firm
Sonnenberg & Co CPAs
Address
5190 Governor Dr 201, San Diego, CA 92122
Preparer
Leonard C Sonnenberg
Phone
8584575252
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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0to educate the nations public with regard to the history and present day activities of the US Navy Carrier Aviation and its importance to our Countrys national security. The main activity is to provide scholarships to the children/grandchildren of current/ former Navy carrier aviation personnel.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/PrincipalOfficerNm0Rodger Welch
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0511120
IRS990/ProgramServiceRevenueGrp/Desc0Publication revenue
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IRS990/ProgSrvcAccomActy2Grp/Desc0The Foundation distributes The Hook Magazine to high schools and colleges throughout the United States at no cost to the schools. The Hook describes current and historical United States Navy Carrier operations, articles, facts, and carrier information. The Hook Magazine is published quarterly.
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990/RevenueAmt01800
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IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-309187
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueNotReportedAmt0-309187
IRS990ScheduleD/RevenueSubtotalAmt0687263
IRS990ScheduleD/TotalExpensesPerForm990Amt0510989
IRS990ScheduleD/TotalRevenuePerForm990Amt0687263
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0510989
IRS990ScheduleI/GrantRecordsMaintainedInd0true
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarship
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0107
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IRS990ScheduleI/RecipientTable/CashGrantAmt025246
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501c7
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0contributed to office renovation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0The Tailhook Association
IRS990ScheduleI/RecipientTable/RecipientEIN0952555350
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt09696 Business Ave
IRS990ScheduleI/RecipientTable/USAddress/CityNm0San Diego
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd092131
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/TotalOtherOrgCnt01
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is reviewed by the Management. Upon the Managements review and approval, it is forwarded to the Board of Directors for review and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each member of the Board of Directors signs a new conflict of interest policy on an annual basis. The Board is made aware of any potential conflict and the affected Board Member is recused from any discussion and /or vote regarding the area of potential conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of the affiliated organization reviews both the EDs and Administrative Officers compensation on an annual basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Available upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11a

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,737,814
Liabilities
$0
Net assets
$3,737,814
Revenue
$687,263
Expenses
$510,989
Net income
$176,274
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.24$0.07$6.17$2.12$1.07$1.05
2023Detailed filing. Detailed filing data is available for this year.$5.11$0.06$5.06$1.01$0.80$0.21
2022Detailed filing. Detailed filing data is available for this year.$4.37$0.00$4.37$0.95$0.75$0.19
2021Detailed filing. Detailed filing data is available for this year.$4.77$0.00$4.77$0.81$0.64$0.17
2020Detailed filing. Detailed filing data is available for this year.$4.47$0.00$4.47$0.66$0.60$0.07
2019Detailed filing. Detailed filing data is available for this year.$4.27$0.01$4.27$0.90$0.55$0.35
2018Detailed filing. Detailed filing data is available for this year.$3.74$0.00$3.74$0.69$0.51$0.18
2017Detailed filing. Detailed filing data is available for this year.$3.88$0.01$3.87$0.66$0.51$0.15