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Nonprofiteer
← VETERANS AIRLIFT COMMAND FOUNDATION

Form 990 for tax year 2022

Filed by VETERANS AIRLIFT COMMAND FOUNDATION.

Totals

Total revenue
-$406,281
Total expenses
$130,228
Contributions and grants received
$62,948
Grants paid
$15,000
Program service revenue
$0
Investment income
-$469,229
Other revenue
$0
Total assets, end of year
$1,118,077
Total liabilities, end of year
$94
Net assets or fund balances, end of year
$1,117,983
Program services expenses (Part IX)
$116,318
Management and general expenses
$13,910
Fundraising expenses
$0
Program service expenses (Part III)
$116,318

Program services were 89.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $62,948

  • 7a · Gross sales of assets other than inventory

    other assets $464,635

  • 7b · Less cost or other basis and sales expenses

    securities $579,264 · other assets $354,600

  • 7c · Gain or loss

    securities -$579,264 · other assets $110,035

  • 7d · Net gain or loss

    total -$469,229 · related or exempt -$469,229

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,000 · program services $15,000

  • 11c · Fees: accounting

    total $4,863 · management and general $4,863

  • 13 · Office expenses

    total $969 · management and general $969

  • 16 · Occupancy

    total $2,640 · program services $2,640

  • 17 · Travel

    total $9,295 · program services $9,295

  • 23 · Insurance

    total $8,078 · management and general $8,078

  • 24a · Other expenses: REPAIRS AND MAINT.

    total $66,483 · program services $66,483

  • 24b · Other expenses: FUEL & HANGAR

    total $14,615 · program services $14,615

  • 24c · Other expenses: PUBLIC AWARENESS SPONSO

    total $8,285 · program services $8,285

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $329,547 · end of year $175,694

  • 10a · Land, buildings and equipment: cost or other basis

    $942,383

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $368,569 · end of year $942,383

  • 12 · Investments: other securities

    beginning of year $956,376

  • 17 · Accounts payable and accrued expenses

    end of year $94

  • 27 · Net assets without donor restrictions

    beginning of year $1,654,492 · end of year $1,117,983

Mission and programs · 2022

Mission

THE ORGANIZATION WAS CREATED TO SUPPORT THE VETERANS AIRLIFT COMMAND, A MINNESOTA NONPROFIT CORPORATION RECOGNIZED BY THE IRS AS A 501(C)(3) PUBLIC CHARITY.

Activities or mission (Part I)

THE ORGANIZATION SUPPORTS THE VETERANS AIRLIFT COMMAND.

  • THE ORGANIZATION WAS CREATED TO SUPPORT THE VETERANS AIRLIFT COMMAND, A MINNESOTA NONPROFIT CORPORATION RECOGNIZED BY THE IRS AS A 501(C)(3) PUBLIC CHARITY. THE PURPOSE OF VAC IS TO PROVIDE FREE AIR TRANSPORTATION FOR MEDICAL AND OTHER COMPASSIONATE PURPOSES TO WOUNDED WARRIORS, VETERANS, AND THEIR FAMILIES THROUGH A NATIONAL NETWORK OF VOLUNTEER AIRCRAFT OWNERS AND PILOTS. SUCH AIR TRANSPORTATION WILL BE PROVIDED BY VAC TO THESE INDIVIDUALS WHEN OTHER PRACTICAL MEANS OF TRANSPORTATION ARE INADEQUATE OR UNAVAILABLE.

    Expenses $116,318 · Grants $15,000

As filed on the 2022 return.

Listed in Part VII

  • Walter Fricke

    PRESIDENT

    Total calculated
    $140,729
    From this org
    $0
    From related orgs
    $112,583
    Other
    $28,146
    Hours/week
    1 + 40 related

  • Michael Grossmann

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
21 August 2023
IRS schema version
2022v5.0
Source object
202322369349301602

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