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Nonprofiteer
← UND AEROSPACE FOUNDATION

Form 990 for tax year 2024

Filed by UND AEROSPACE FOUNDATION.

Totals

Total revenue
$43,834,481
Total expenses
$29,581,466
Contributions and grants received
$4,437,524
Grants paid
$469,031
Program service revenue
$36,731,060
Investment income
$1,647,333
Other revenue
$1,018,564
Total assets, end of year
$122,981,561
Total liabilities, end of year
$14,275,343
Net assets or fund balances, end of year
$108,706,218
Program services expenses (Part IX)
$26,621,985
Management and general expenses
$2,799,217
Fundraising expenses
$160,264
Program service expenses (Part III)
$26,621,985

Program services were 90.0% 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

    $4,437,524

  • 1g · Noncash contributions included above

    $4,020,135

  • 2a · Program service revenue: Flight Training Centers

    total $22,804,739 · related or exempt $22,804,389 · unrelated business $350

  • 2b · Program service revenue: Aircraft & Simulator Rental

    total $13,632,773 · related or exempt $13,271,402 · unrelated business $361,371

  • 2c · Program service revenue: Other Programs

    total $293,548 · related or exempt $141,654 · unrelated business $151,894

  • 3 · Investment income

    total $1,612,595 · unrelated business $30,007 · excluded $1,582,588

  • 6a · Gross rents

    personal property $797,993

  • 6b · Less rental expenses

    personal property $253,607

  • 6c · Rental income or loss

    personal property $544,386

  • 6d · Net rental income or loss

    total $544,386 · excluded $544,386

  • 7a · Gross sales of assets other than inventory

    securities $9,464 · other assets $134,000

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

    securities $11,370 · other assets $97,356

  • 7c · Gain or loss

    securities -$1,906 · other assets $36,644

  • 7d · Net gain or loss

    total $34,738 · excluded $34,738

  • 10a · Gross sales of inventory

    $405,141

  • 10b · Cost of goods sold

    $168,537

  • 10c · Net income from sales of inventory

    total $236,604 · related or exempt $236,604

  • 11a · Other revenue: Software/Website & Video Dev

    total $237,574 · unrelated business $237,574

  • 11e · Other revenue, total

    $237,574

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $218,653 · program services $218,653

  • 2 · Grants to domestic individuals

    total $250,378 · program services $250,378

  • 5 · Compensation of officers, directors and key employees

    total $862,978 · management and general $862,978

  • 7 · Other salaries and wages

    total $6,804,532 · program services $6,381,328 · management and general $367,993 · fundraising $55,211

  • 8 · Pension plan contributions

    total $347,503 · program services $238,907 · management and general $104,684 · fundraising $3,912

  • 9 · Other employee benefits

    total $681,652 · program services $578,491 · management and general $93,086 · fundraising $10,075

  • 10 · Payroll taxes

    total $503,839 · program services $437,268 · management and general $62,377 · fundraising $4,194

  • 11b · Fees: legal

    total $33,995 · program services $23,255 · management and general $10,740

  • 11c · Fees: accounting

    total $60,260 · management and general $60,260

  • 11g · Fees: other

    total $2,161,507 · program services $2,139,736 · management and general $21,109 · fundraising $662

  • 12 · Advertising and promotion

    total $83,173 · program services $83,173

  • 13 · Office expenses

    total $525,614 · program services $476,564 · management and general $49,050

  • 16 · Occupancy

    total $479,442 · program services $456,499 · management and general $22,943

  • 17 · Travel

    total $286,610 · program services $102,828 · management and general $100,295 · fundraising $83,487

  • 19 · Conferences, conventions and meetings

    total $117,439 · program services $49,208 · management and general $68,231

  • 20 · Interest

    total $231,287 · program services $186,518 · management and general $44,769

  • 22 · Depreciation, depletion and amortization

    total $4,560,146 · program services $3,824,434 · management and general $735,712

  • 23 · Insurance

    total $180,136 · program services $70,684 · management and general $109,452

  • 24a · Other expenses: Aircraft Expense

    total $9,007,619 · program services $9,007,619

  • 24b · Other expenses: Student Housing/Food

    total $1,014,196 · program services $1,014,196

  • 24c · Other expenses: Tuition and Fees

    total $684,908 · program services $684,908

  • 24d · Other expenses: Fees and Services

    total $384,592 · program services $299,560 · management and general $82,309 · fundraising $2,723

  • 24e · All other expenses

    total $101,007 · program services $97,778 · management and general $3,229

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $37,059,796 · end of year $45,983,834

  • 3 · Pledges and grants receivable

    beginning of year $568,000 · end of year $284,000

  • 4 · Accounts receivable

    beginning of year $1,367,437 · end of year $1,916,345

  • 8 · Inventories for sale or use

    beginning of year $925,548 · end of year $962,473

  • 9 · Prepaid expenses and deferred charges

    beginning of year $449,017 · end of year $1,027,191

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

    $106,419,290

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

    $37,583,827

  • 10c · Land, buildings and equipment, net

    beginning of year $66,980,999 · end of year $68,835,463

  • 12 · Investments: other securities

    beginning of year $424,991 · end of year $424,991

  • 15 · Other assets

    beginning of year $1,837,114 · end of year $3,547,264

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,320,197 · end of year $1,616,548

  • 18 · Grants payable

    beginning of year $792,960 · end of year $737,803

  • 19 · Deferred revenue

    beginning of year $5,117,018 · end of year $5,205,161

  • 23 · Secured mortgages and notes payable

    beginning of year $5,264,429 · end of year $4,341,027

  • 25 · Other liabilities

    beginning of year $2,635,088 · end of year $2,374,804

  • 27 · Net assets without donor restrictions

    beginning of year $86,737,471 · end of year $96,863,023

  • 28 · Net assets with donor restrictions

    beginning of year $7,745,739 · end of year $11,843,195

Mission and programs · 2024

Mission

To support the functions of, and to assist in carrying out the purposes of, the John D. Odegard School of Aerospace Sciences of the University of North Dakota.

Activities or mission (Part I)

Education in the field of aerospace.

  • The UND Aerospace Foundation (The Foundation) is a North Dakota nonprofit organization organized to encourage and develop the University of North Dakota's (UND) John D. Odegard School of Aerospace Sciences. The Foundation's principal activities consist of developing and conducting training programs, research and development, and consulting services related to the aerospace industry. The Foundation's principal activities are in Grand Forks, ND, with a second flight training center located in Mesa, AZ. Aviation training - classroom, flight training, and support services delivered to pilot students at Grand Forks campus, with 13,669 flight training hours during the year.

    Expenses $7,806,544 · Grants $469,031 · Revenue $8,910,451

  • Flight training center - flight training delivered to student pilots outside of the Grand Forks campus, primarily students enrolled in community college programs. Location is Mesa, Arizona with 69,758 flight hours during the year.

    Expenses $17,916,997 · Revenue $27,344,340

  • Aircraft and simulator rental - rental receipts for aircraft and simulators for use at Grand Forks campus for flight training, primarily for use with the undergraduate students enrolled at the University of North Dakota. Assets include aircraft and simulators.

    Expenses $3,832 · Revenue $42,000

  • Other programs include FAA testing center, software development, and aerospace merchandise sales.

    Expenses $894,612 · Revenue $157,258

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Charles Pineo

    Chief Executive Officer

    Total calculated
    $453,094
    From this org
    $382,050
    From related orgs
    $0
    Other
    $71,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $328,050
    Bonus
    $54,000
    Other
    $0
    Deferred
    $43,050
    Nontaxable benefits
    $28,840
    Filer's total
    $453,940

  • Robert Kraus

    President

    Total calculated
    $347,326
    From this org
    $0
    From related orgs
    $289,214
    Other
    $58,112
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $289,214 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $36,401 related
    Nontaxable benefits
    $0 + $22,622 related
    Filer's total
    $0 + $348,237 related

  • Dana Sande

    Vice President of Business

    Total calculated
    $347,736
    From this org
    $287,063
    From related orgs
    $0
    Other
    $60,673
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $248,063
    Bonus
    $39,000
    Other
    $0
    Deferred
    $32,678
    Nontaxable benefits
    $28,793
    Filer's total
    $348,534

  • Cara Miller

    Chief Financial Officer

    Total calculated
    $279,546
    From this org
    $226,076
    From related orgs
    $0
    Other
    $53,470
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,076
    Bonus
    $25,000
    Other
    $0
    Deferred
    $26,445
    Nontaxable benefits
    $27,796
    Filer's total
    $280,317

  • Rex Ginder

    Associate Director of Phoenix Flight Operations

    Total calculated
    $186,435
    From this org
    $140,101
    From related orgs
    $0
    Other
    $46,334
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,101
    Bonus
    $0
    Other
    $0
    Deferred
    $18,576
    Nontaxable benefits
    $28,468
    Filer's total
    $187,145

  • Chad Martin

    Aircraft Sales & Project Manager

    Total calculated
    $179,329
    From this org
    $131,904
    From related orgs
    $0
    Other
    $47,425
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,904
    Bonus
    $0
    Other
    $0
    Deferred
    $23,000
    Nontaxable benefits
    $25,086
    Filer's total
    $179,990

  • Larry Martin

    Chair

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • David Williamson

    Director

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James Bunke

    Director

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Karen Nyberg

    Director

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Odegard

    Director

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Richard McConn

    Director

    Total calculated
    $13,500
    From this org
    $13,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Charles Kluenker

    Director

    Total calculated
    $0
    Hours/week
    1

  • Clay Lacy

    Director

    Total calculated
    $0
    Hours/week
    1

  • Charles Ahearn

    Director

    Total calculated
    $0
    Hours/week
    1

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7
Charles Pineo, Dana Sande, and Cara Miller received bonuses that are considered to be non-fixed payments. The bonus amounts are determined by the Board. The amounts are discretionary and are based upon review of their performance and other applicable factors.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • University of North Dakota

    $111,453

    Program support.

  • University of North Dakota

    $97,200

    UND Scholarship Endowment

  • Museum of Flight

    $10,000

    Education

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.

  • University of North Dakota

    University level education. · ND

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Sunray Property Holdings LLC

    To own and operate real estate property located in AZ. · AZ · income $424,055 · assets $4,854,706

    Directly controlled by UND Aerospace Foundation

  • Blue Sky Property LLC

    To own and operate real estate property located in AZ. · AZ · income $856,953 · assets $12,667,086

    Directly controlled by UND Aerospace Foundation

Provenance

Return type
form_990
Tax year
2024
Filed
14 April 2026
IRS schema version
2024v5.5
Source object
202601059349300425

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