Civic Intelligence

Tailhook Educational Foundation Inc.

990 • Fiscal year 2022 • EIN 33-0487778

Jan 01, 2022 to Dec 31, 2022 • Filed on May 10, 2023

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

17th percentile

0.00x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

17th percentile

0.00x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

71st percentile

20%

Higher net margin than 71% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

69th percentile

$101,845

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 10.8% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

22nd percentile

-8.5%

Faster asset growth than 22% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

63rd percentile

17%

Faster revenue growth than 63% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets17th percentile

Assets

Down

$4,368,243

Down $406,654 (-8.5%) from 2021

Net Assets

Down

$4,368,243

Down $406,654 (-8.5%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin71st percentile

Revenue

Up

$945,954

Up $135,251 (+17%) from 2021

Expenses

Up

$754,617

Up $114,939 (+18%) from 2021

Net Income

Up

$191,337

Up $20,312 (+12%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth22nd 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

2022

Assets$4,368,243
Liabilities$0
Net Assets$4,368,243
Open 2022 Filing

Operations Trend

Revenue Growth63rd 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

2022

Revenue$945,954
Expenses$754,617
Net Income$191,337
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 10, 2023
Return Version
2022v5.0
Gross Receipts
$1,325,969
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$4,654,892$4,114,831▼ $540,061
Cash and Non-Interest-Bearing Accounts$120,005$253,412▲ $133,407
Total Assets$4,774,897$4,368,243▼ $406,654
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,774,897$4,368,243▼ $406,654
Total Net Assets Fund Balance$4,774,897$4,368,243▼ $406,654
Total Liabilities and Net Assets / Fund Balance$4,774,897$4,368,243▼ $406,654
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Rodger WelchExecutive DirectorFT$101,845$101,845
Beth RollinsRecording SecretaryPT$53,183$53,183

Board Members and Trustees

NameTitle
JJ QuinnChairman
Kristin HansenPresident
Chip MillerDirector
Chuck WrightDirector
Greg KeithleyDirector
Greg PeairsDirector
Harry RittenourDirector
Jack EnschDirector
Jack SchullerDirector
Jon WinthropDirector
Melodie PalmerDirector
Robert RutherfordDirector
Stephen LaukaitisDirector
Steve QueenVP/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$839,773
Program Service Revenue
$45
Investment Income
$106,136
Other Revenue
$0
All Other Contributions
$839,773
Change in Net Assets
$191,337

Audited Revenue Reconciliation

Revenue per Audited Statements
$945,954
Revenue Not Reported on Form 990
$-597,991
Total Revenue per Audited Statements
$347,963
Total Revenue per Form 990
$945,954
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$466,500
Salaries, Compensation, and Employee Benefits$157,999
Other Expenses$130,118
Total Fundraising Expense$23,612
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$466,500--$466,500
Current Officers, Directors, Trustees, and Key Employees$115,025$14,377$14,377$143,779
Payments to Affiliates$41,831$2,706$2,706$47,243
Advertising$14,426--$14,426
Payroll Taxes$11,376$1,422$1,422$14,220
Office Expenses$10,497$1,331$1,331$13,159
Travel$9,711$1,213$1,213$12,137
Fees for Services Accounting$7,920$989$989$9,898
All Other Expenses-$7,160-$7,160
Other Expenses$7,000-$987$7,000
Total Functional Expenses$701,807$29,198$23,612$754,617

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$754,617
Total Expenses per Audited Statements$754,617
Total Expenses per Form 990$754,617
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 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
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
Phone
8586899223
Signed
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rodger Welch
Formed
1991
Legal Domicile
CA
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
16

Preparer

Firm
Sonnenberg & Company CPAs
Address
5190 Governor Dr 201, San Diego, CA 92122
Preparer
Leonard C Sonnenberg
Phone
8584575252
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IRS990/OtherExpensesGrp/FundraisingAmt1987
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Rodger Welch
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IRS990/ProgramServiceRevenueGrp/Desc0Publication revenue
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt045
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt045
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/RelatedEntityInd0true
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990/RoyaltiesGrp/TotalAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0509833
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IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-597991
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
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IRS990ScheduleD/TotalExpensesPerForm990Amt0754617
IRS990ScheduleD/TotalRevenuePerForm990Amt0945954
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0347963
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0754617
IRS990ScheduleI/GrantRecordsMaintainedInd0true
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarship
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IRS990/ScheduleJRequiredInd0false
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$4,368,243
Liabilities
$0
Net assets
$4,368,243
Revenue
$945,954
Expenses
$754,617
Net income
$191,337
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