Form 990 for tax year 2023
Filed by THE AFIT FOUNDATION AIR FORCE INSTITUTE OF TECHNOLOGY.
Totals
- Total revenue
- $239,841
- Total expenses
- $78,172
- Contributions and grants received
- $2,802
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $236,114
- Other revenue
- $925
- Total assets, end of year
- $1,156,502
- Total liabilities, end of year
- $3,697
- Net assets or fund balances, end of year
- $1,152,805
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $32,343
Program services were 0.0% 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.
-
1b · Membership dues
$2,802
-
3 · Investment income
total $236,114
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7c · Gain or loss
securities $0 · other assets $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$925
-
10c · Net income from sales of inventory
total $925
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $14,104
-
11c · Fees: accounting
total $1,280
-
11g · Fees: other
total $4,122
-
13 · Office expenses
total $13,515
-
16 · Occupancy
total $12,000
-
22 · Depreciation, depletion and amortization
total $397
-
23 · Insurance
total $120
-
24e · All other expenses
total $32,634 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $50,927 · end of year $23,730
-
4 · Accounts receivable
end of year $330
-
10a · Land, buildings and equipment: cost or other basis
$5,258
-
10b · Land, buildings and equipment: accumulated depreciation
$4,900
-
10c · Land, buildings and equipment, net
beginning of year $755 · end of year $358
-
12 · Investments: other securities
beginning of year $939,874 · end of year $1,132,084
-
17 · Accounts payable and accrued expenses
beginning of year $420 · end of year $3,697
Mission and programs · 2023
Mission
The Mission of the AFIT Foundation is to support the goals of Air Force Institute of Technology
Activities or mission (Part I)
The AFIT Foundation promotes, enhances and expands the intellectual experience of students, alumni, faculty and staff who are part of the Air Force Institute of Technology and its affiliated schools.
-
Student activities to support and enhance their overall experience while at the Air Force Institute of Technology including receptions graduation gifts and replenishment of snack closets. Served approximately six hundred and held several sessions.
Expenses $32,343
As filed on the 2023 return.
Listed in Part VII
-
Dr Amanda Bullock
Board Chair
- Total calculated
- $0
- Hours/week
- 5
-
Dr Clarence Chenault
Board Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Dr Michael Gessel
Legislative Affairs Committee Chair
- Total calculated
- $0
- Hours/week
- 1
-
Dr Michael Heil
Marketing & Outreach Committee Chair
- Total calculated
- $0
- Hours/week
- 1
-
Mr Randy Mahr
Finance Committee Chair
- Total calculated
- $0
- Hours/week
- 10
-
Shana Anderson
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Joanna Arthur
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Alix Becker
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Amber Begley
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Abbey Brown
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Anthony Brunson
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
M Burke
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Mark Derriso
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Kara Greene
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Dean Lamonica
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Jason Russi
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Dr Vince Russo
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Gene Saunders
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Kathleen Scott
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Angela Supplison
Trustee
- 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202421369349310172
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