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Nonprofiteer
← AIR TRAFFIC CONTROL ASSOCIATION SCHOLARSHIP FUND INC

Form 990 for tax year 2023

Filed by AIR TRAFFIC CONTROL ASSOCIATION SCHOLARSHIP FUND INC.

Totals

Total revenue
$82,848
Total expenses
$75,986
Contributions and grants received
$0
Grants paid
$75,000
Program service revenue
$0
Investment income
$82,848
Other revenue
$0
Total assets, end of year
$282,640
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$282,640
Program services expenses (Part IX)
$75,986
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$75,986

Program services were 100.0% 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.

  • 3 · Investment income

    total $4,131 · excluded $4,131

  • 7a · Gross sales of assets other than inventory

    securities $253,051

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

    securities $174,334

  • 7c · Gain or loss

    securities $78,717

  • 7d · Net gain or loss

    total $78,717 · excluded $78,717

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $75,000 · program services $75,000

  • 13 · Office expenses

    total $986 · program services $986

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $986 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $323,623 · end of year $282,640

  • 27 · Net assets without donor restrictions

    beginning of year $324,609 · end of year $282,640

Mission and programs · 2023

Mission

THE SCHOLARSHIP FUND IS A NON-PROFIT CORPORATION ORGANIZED FOR THE PURPOSE OF AWARDING SCHOLARSHIPS TO AIR TRAFFIC CONTROL AND AVIATION SCIENCE STUDENTS TO HELP SUBSIDIZE THE INCREASING COST OF HIGHER EDUCATION.

  • SCHOLARSHIP AWARDS - THE SCHOLARSHIP FUND AWARDS SCHOLARSHIPS TO AIR TRAFFIC CONTROL AND AVIATION SCIENCE STUDENTS TO HELP SUBSIDIZE THE INCREASING COST OF HIGHER EDUCATION.

    Expenses $75,986 · Grants $75,000

As filed on the 2023 return.

Listed in Part VII

  • Carey Fagan

    PRESIDENT AND CEO (CURRENT)

    Total calculated
    $74,479
    From this org
    $0
    From related orgs
    $74,479
    Other
    $0
    Hours/week
    1 + 39 related

  • Brian Bruckbauer

    PRESIDENT AND CEO (FORMER)

    Total calculated
    $341,212
    From this org
    $0
    From related orgs
    $298,462
    Other
    $42,750
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $253,462 related
    Bonus
    $0
    Other
    $0 + $45,000 related
    Deferred
    $0 + $38,430 related
    Nontaxable benefits
    $0 + $4,320 related
    Filer's total
    $0 + $341,212 related

  • Rachel Jackson

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Paul Feldman

    CHAIRMAN-ELECT

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Sean Morris

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 5 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. 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 · Written employment contract

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
FORM 990, SCHEDULE J, PART I, LINE 3 THE PRESIDENT OF THE ORGANIZATION HAS AN EMPLOYMENT AGREEMENT FOR HIS SALARY/COMPENSATION WITH THE BOARD OF AIR TRAFFIC CONTROL ASSOCIATION, INC., A RELATED ORGANIZATION.

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

No itemized grants to organizations 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
2023
Filed
23 April 2025
IRS schema version
2023v6.0
Source object
202511139349300126

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