Civic Intelligence

The Palmdale Aerospace Academy Foundation

EIN 81-1881446 • 501(c)3 • Palmdale, CA

Profile

TO SUPPORT THE PALMDALE AEROSPACE ACADEMY.

Refreshing map…

3300 East Palmdale BlvdPalmdale, CA 93550

www.tpaa.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.95x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

14.88x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

20th percentile

-5.9%

Higher net margin than 20% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

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

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

24th percentile

-0.6%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

26th percentile

-1.3%

Faster revenue growth than 26% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$85,050,915

Down $1,005,790 (-1.2%) from 2020

Liabilities

Down

$84,477,302

Down $1,643,985 (-1.9%) from 2020

Net Assets

Up

$573,613

Up $638,195 (+988%) from 2020

Operations
Liabilities / Revenue98th percentileNet Margin20th percentile

Revenue

Down

$5,276,266

Down $262,513 (-4.7%) from 2020

Expenses

Up

$4,638,071

Up $1,008,068 (+28%) from 2020

Net Income

Down

$638,195

Down $1,270,581 (-67%) from 2020

Trend Graphs

Balance Sheet Trend

Asset Growth24th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0-$50MAssets 2016: $49,226,966Liabilities 2016: $49,224,533Net Assets 2016: $2,4332016Assets 2019: $88,373,399Liabilities 2019: $90,346,757Net Assets 2019: -$1,973,3582019Assets 2020: $86,056,705Liabilities 2020: $86,121,287Net Assets 2020: -$64,5822020Assets 2021: $85,050,915Liabilities 2021: $84,477,302Net Assets 2021: $573,6132021

Highlighted filing

2021

Assets$85,050,915
Liabilities$84,477,302
Net Assets$573,613
Open 2021 Filing

Operations Trend

Revenue Growth26th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $2,433Expenses 2016: $0Net Income 2016: $2,4332016Revenue 2019: $3,476,788Expenses 2019: $3,498,604Net Income 2019: -$21,8162019Revenue 2020: $5,538,779Expenses 2020: $3,630,003Net Income 2020: $1,908,7762020Revenue 2021: $5,276,266Expenses 2021: $4,638,071Net Income 2021: $638,1952021

Highlighted filing

2021

Revenue$5,276,266
Expenses$4,638,071
Net Income$638,195
Open 2021 Filing

Filings

Most recent year

2021 • Form 990Summary only. Only limited summary data is available for this year.

Open filing
Assets
$85,050,915
Liabilities
$84,477,302
Net assets
$573,613
Revenue
$5,276,266
Expenses
$4,638,071
Net income
$638,195
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Summary only. Only limited summary data is available for this year.$85.1$84.5$0.57$5.28$4.64$0.64
2020Summary only. Only limited summary data is available for this year.$86.1$86.1$0.06$5.54$3.63$1.91
2019Summary only. Only limited summary data is available for this year.$88.4$90.3$1.97$3.48$3.50$0.02
2016Summary only. Only limited summary data is available for this year.$49.2$49.2$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 6, 2022
Return Version
2020v4.2
Gross Receipts
$5,276,266
Mission and Program Overview

Mission

To support the palmdale aerospace academy.

To support the palmdale aerospace academy

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$69,552,931$69,642,037▲ $89,106
Cash and Non-Interest-Bearing Accounts$9,787,696$9,070,472▼ $717,224
Savings and Temporary Cash Investments$5,528,816$5,456,854▼ $71,962
Accounts Receivable-$304,896-
Total Assets$86,056,705$85,050,915▼ $1,005,790
Other Assets Total$1,187,262$576,656▼ $610,606
Liabilities
Tax Exempt Bond Liabilities$83,165,428$82,082,272▼ $1,083,156
Accounts Payable and Accrued Expenses$2,052,143$1,952,297▼ $99,846
Mortgage Notes Payable Secured by Investment Property$450,000--
Deferred Revenue$453,716$442,733▼ $10,983
Total Liabilities$86,121,287$84,477,302▼ $1,643,985
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-64,582$573,613▲ $638,195
Total Net Assets Fund Balance$-64,582$573,613▲ $638,195
Total Liabilities and Net Assets / Fund Balance$86,056,705$85,050,915▼ $1,005,790

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$60,106,306$6,558,670$66,664,976
Other Land Buildings$6,954,517-$6,954,517
Land$2,581,214-$2,581,214
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
Pamela GasperPresident
Nardy LopezCFO
Trixie FloresSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,268,885
Investment Income
$7,381
Other Revenue
$0
Change in Net Assets
$638,195
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,638,071
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
Depreciation Depletion$2,439,459--$2,439,459
Interest-$2,110,947-$2,110,947
Other Expenses-$87,665-$87,665
Total Functional Expenses$2,439,459$2,198,612$0$4,638,071
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

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACmfa2016-04-01$48,128,388Acquisition and construction
BCmfa2018-10-01$38,126,244Acquisition and construction

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$48,128,388-$245,000$1,434,541
B$38,126,244--$1,151,301

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The organization does not have committees with authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

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

“The board members are required to annually disclose any financial conflicts if conflict arises the board member is asked to excuse himself/herself from any discussion and voting on the issue.”

Form 990, Part VI, Section C, Line 19

“The required documents are available at the business office during normal business hours upon request.”

Filing and Contact Details

Filer

Filer Name
The Palmdale Aerospace Academy
EIN
81-1881446
Phone
6612733680
Address
3300 EAST PALMDALE BLVD, PALMDALE, CA 93550

Signing Officer

Name
Nardy Lopez
Title
CFO
Phone
6612733680
Signed
2022-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nardy Lopez
Formed
2015
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Eide Bailly Llp
Address
10681 FOOTHILL BLVD STE 300, RANCHO CUCAMONGA, CA 91730-3831
Preparer
Catherine L Gray CPA
Phone
9094664410
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Management believes that the organization has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.”

Raw XML AppendixShowing 400 of 453 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd1B
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum110348DCQ9
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt048128388
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt138126244
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1CMFA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0ACQUISITION AND CONSTRUCTION
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc1ACQUISITION AND CONSTRUCTION
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd01
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd11
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd01
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd11
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt042597707
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt127879324
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt01584770
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt11185227
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt03084262
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt12444554
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt01434541
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt11151301
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt0245000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02017
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt048128388
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt138126244
IRS990ScheduleK/TaxExemptBondsProceedsGrp/UnspentAmt05502755
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY THE ORGANIZATION'S OUTSIDE PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE A DRAFT OF THE RETURN IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT WITH ANY CHANGES OR REVISIONS INCORPORATED INTO THE FILING. THE REVISED RETURN IS THEN SUBMITTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL PRIOR TO SUBMITTING TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBERS ARE REQUIRED TO ANNUALLY DISCLOSE ANY FINANCIAL CONFLICTS IF CONFLICT ARISES THE BOARD MEMBER IS ASKED TO EXCUSE HIMSELF/HERSELF FROM ANY DISCUSSION AND VOTING ON THE ISSUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE REQUIRED DOCUMENTS ARE AVAILABLE AT THE BUSINESS OFFICE DURING NORMAL BUSINESS HOURS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0THE PALMDALE AEROSPACE ACAADEMY FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0DESIGN CREATE EXPLORE
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0811881446
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt085050915
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0TITLE HOLDING
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt05276266
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt03300 E PALMDALE BLVD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0PALMDALE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd093550
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0THE PALMDALE AEROSPACE ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0453851539
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt03300 E PALMDALE BLVD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PALMDALE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CA
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt083165428
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt082082272
IRS990/TaxExemptBondsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt086056705
IRS990/TotalAssetsEOYAmt085050915
IRS990/TotalAssetsGrp/BOYAmt086056705
IRS990/TotalAssetsGrp/EOYAmt085050915
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02198612
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02439459
IRS990/TotalFunctionalExpensesGrp/TotalAmt04638071
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt086121287
IRS990/TotalLiabilitiesEOYAmt084477302
IRS990/TotalLiabilitiesGrp/BOYAmt086121287
IRS990/TotalLiabilitiesGrp/EOYAmt084477302
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-64582
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0573613
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02439459
IRS990/TotalProgramServiceRevenueAmt05268885
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt07381

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Bethany, WV

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Bethany College

501(c)3

Revenue$34,076,206
Assets$85,102,571

Revenue vs current organization

546% higher

Assets vs current organization

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