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← ASSOCIATION OF GRADUATES OF THE USAFA

Form 990 for tax year 2022

Filed by ASSOCIATION OF GRADUATES OF THE USAFA.

Totals

Total revenue
$8,064,070
Total expenses
$8,454,891
Contributions and grants received
$2,701,946
Grants paid
$1,925,224
Program service revenue
$828,903
Investment income
$3,788,498
Other revenue
$744,723
Total assets, end of year
$106,418,834
Total liabilities, end of year
$3,708,216
Net assets or fund balances, end of year
$102,710,618
Program services expenses (Part IX)
$6,529,230
Management and general expenses
$1,900,490
Fundraising expenses
$25,171
Program service expenses (Part III)
$6,529,230

Program services were 77.2% 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.

  • 1b · Membership dues

    $922,537

  • 1f · All other contributions, gifts and grants

    $1,779,409

  • 2a · Program service revenue: PUBLIC ADVERTISING

    total $157,910 · unrelated business $157,910

  • 2b · Program service revenue: HOMECOMING AND REUNIONS

    total $380,507 · related or exempt $380,507

  • 2c · Program service revenue: SACC CONFERENCE

    total $290,486 · related or exempt $290,486

  • 3 · Investment income

    total $3,554,345 · excluded $3,554,345

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $113,399 · excluded $113,399

  • 6a · Gross rents

    real property $6,110 · personal property $13,855

  • 6c · Rental income or loss

    real property $6,110 · personal property $13,855

  • 6d · Net rental income or loss

    total $19,965 · related or exempt $19,965

  • 7a · Gross sales of assets other than inventory

    securities $4,264,361 · other assets $2,150

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

    securities $4,032,358

  • 7c · Gain or loss

    securities $232,003 · other assets $2,150

  • 7d · Net gain or loss

    total $234,153 · excluded $234,153

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $808,762

  • 10b · Cost of goods sold

    $558,576

  • 10c · Net income from sales of inventory

    total $250,186 · related or exempt $250,186

  • 11a · Other revenue: AFAF SERVICE AGREEMENT (SEE SCH O)

    total $235,820 · related or exempt $235,820

  • 11b · Other revenue: ADMIN. FEES & SERVICE CHARGES

    total $100,676 · related or exempt $100,676

  • 11c · Other revenue: NON-AF SOCIAL EVENTS

    total $20,183 · related or exempt $20,183

  • 11d · All other revenue

    total $4,494 · related or exempt $4,494

  • 11e · Other revenue, total

    $361,173

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,741,639 · program services $1,741,639

  • 2 · Grants to domestic individuals

    total $183,585 · program services $183,585

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $777,157 · program services $511,922 · management and general $261,317 · fundraising $3,918

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,990,102 · program services $1,310,771 · management and general $669,300 · fundraising $10,031

  • 8 · Pension plan contributions

    total $62,314 · program services $41,119 · management and general $20,880 · fundraising $315

  • 9 · Other employee benefits

    total $290,335 · program services $191,585 · management and general $97,284 · fundraising $1,466

  • 10 · Payroll taxes

    total $200,210 · program services $126,067 · management and general $73,178 · fundraising $965

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $20,868 · management and general $20,868

  • 11c · Fees: accounting

    total $30,400 · management and general $30,400

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $10,461 · management and general $10,461

  • 11g · Fees: other

    total $604,490 · program services $395,111 · management and general $205,838 · fundraising $3,541

  • 12 · Advertising and promotion

    total $59,902 · program services $45,216 · management and general $14,686 · fundraising $0

  • 13 · Office expenses

    total $854,651 · program services $695,631 · management and general $157,060 · fundraising $1,960

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $198,955 · program services $155,250 · management and general $42,944 · fundraising $761

  • 17 · Travel

    total $136,452 · program services $90,730 · management and general $45,722 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $664,328 · program services $588,820 · management and general $75,508 · fundraising $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $578,966 · program services $451,784 · management and general $124,968 · fundraising $2,214

  • 23 · Insurance

    total $50,076 · management and general $50,076

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,759,146 · end of year $1,046,741

  • 2 · Savings and temporary cash investments

    beginning of year $1,228 · end of year $24

  • 3 · Pledges and grants receivable

    beginning of year $200,000 · end of year $0

  • 4 · Accounts receivable

    beginning of year $173,464 · end of year $170,903

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $293,044 · end of year $417,295

  • 9 · Prepaid expenses and deferred charges

    beginning of year $206,120 · end of year $240,226

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

    $14,034,402

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

    $10,307,997

  • 10c · Land, buildings and equipment, net

    beginning of year $3,780,925 · end of year $3,726,405

  • 11 · Investments: publicly traded securities

    beginning of year $126,266,840 · end of year $100,817,240

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $37 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $582,719 · end of year $495,687

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $2,185,631 · end of year $2,115,993

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $1,453,568 · end of year $1,096,536

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $45,084,652 · end of year $33,262,072

  • 28 · Net assets with donor restrictions

    beginning of year $83,374,234 · end of year $69,448,546

Mission and programs · 2022

Mission

To be an Association and Foundation of influence and impact, supporting the Academy's enduring mission of developing leaders of character for the nation, and providing a lifetime of service to the Long Blue Line.

Activities or mission (Part I)

Together, we serve graduates, preserve the heritage of the Academy & Long Blue Line, and support USAFA to develop leaders of character for Air Force, Space Force, and nation.

  • ACADEMY AND OTHER SERVICES - FUNDS UTILIZED FOR PROJECTS THAT DIRECTLY SUPPORT THE ACADEMY, CADET WING OR ALUMNI.

    Expenses $3,353,382 · Grants $1,925,224

  • MEMBER SERVICES - FUNDS UTILIZED TO MAINTAIN INFORMATION ON GRADUATES AND TO PROVIDE NETWORKING OPPORTUNITIES AMONG GRADUATES AND SUPPORTERS.

    Expenses $109,868 · Revenue $611,359

  • COST OF PUBLICATIONS - FUNDS UTILIZED FOR PUBLICATION AND DISTRIBUTION OF THE ALUMNI MAGAZINE CHECKPOINTS, THE REGISTER OF GRADUATES AND VARiOUS OTHER ALUMNI AND ACADEMY RELATED PUBLICATIONS.

    Expenses $1,257,257

  • Special Events and chapter support

    Expenses $1,017,580 · Revenue $310,451

  • Homecoming and Reunions

    Expenses $553,405 · Revenue $380,507

  • Career Opportunities

    Expenses $168,276

  • Special Functions

    Expenses $69,462

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Gould

    CEO (see sch o)

    Total calculated
    $187,243
    From this org
    $179,856
    From related orgs
    $0
    Other
    $7,387
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,856
    Bonus
    $45,000
    Other
    not reported
    Deferred
    $6,481
    Nontaxable benefits
    $906
    Filer's total
    $187,243

  • Naviere Walkewicz

    SVP Alumni Relations & Bus Dev

    Total calculated
    $142,120
    From this org
    $130,500
    From related orgs
    $0
    Other
    $11,620
    Hours/week
    40

  • Corrie Grubbs

    SVP Operations

    Total calculated
    $139,085
    From this org
    $126,497
    From related orgs
    $0
    Other
    $12,588
    Hours/week
    40

  • Jennifer Harwig

    CFO

    Total calculated
    $122,372
    From this org
    $116,679
    From related orgs
    $0
    Other
    $5,693
    Hours/week
    40

  • Bob Lowe

    Chair

    Total calculated
    $0
    Hours/week
    5

  • Will Gunn

    Vice Chair

    Total calculated
    $0
    Hours/week
    5

  • Virginia Caine Tonneson

    Secretary

    Total calculated
    $0
    Hours/week
    5

  • Glenn Strebe

    Treasurer

    Total calculated
    $0
    Hours/week
    5

  • Hans Mueh

    Director

    Total calculated
    $0
    Hours/week
    5

  • Garry Dudley

    Director

    Total calculated
    $0
    Hours/week
    5

  • Mark Volcheff

    Director

    Total calculated
    $0
    Hours/week
    5

  • Brian Bishop

    Director

    Total calculated
    $0
    Hours/week
    5

  • Mark Mavity

    Director

    Total calculated
    $0
    Hours/week
    5

  • Dennis Dabney

    Director

    Total calculated
    $0
    Hours/week
    5

  • Kendra Lowe

    Director

    Total calculated
    $0
    Hours/week
    5

  • Andrew Hendel

    Director

    Total calculated
    $0
    Hours/week
    5

  • Emma Przybyslawski

    Director

    Total calculated
    $0
    Hours/week
    5

  • Joseph Bledsoe

    Director

    Total calculated
    $0
    Hours/week
    5

  • Randy Helms

    CAS President

    Total calculated
    $0
    Hours/week
    5

  • Nancy Taylor

    Director

    Total calculated
    $0
    Hours/week
    5

  • Mark hille

    president

    Total calculated
    $0
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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)

Schedule J, Part i, line 7
BONUSES WERE PAID TO QUALIFYING EMPLOYEES, SUBJECT TO APPROVAL BY COMPENSATION AND EXECUTIVE COMMITTEES.
schedule j, part 2, line 1 & 2
SEE SCHEDULE O DISCLOSURE REFERENCING FORM 990, PART VII, COLUMN (D), COLUMN (F) FOR AN EXPLANATION OF MR. GOULD's AND MR. HILLE'S COMPENSATION, as related TO THE COOPERATIVE OPERATING AGREEMENT WITH THE AIR FORCE ACADEMY FOUNDATION AND THE AIR FORCE ACADEMY REAL ESTATE TRUST.

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

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202311359349314056

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