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Nonprofiteer
← THE ACADEMY RESEARCH AND DEVELOPMENT INSTITUTE

Form 990 for tax year 2023

Filed by THE ACADEMY RESEARCH AND DEVELOPMENT INSTITUTE.

Totals

Total revenue
$5,309,684
Total expenses
$2,411,302
Contributions and grants received
$788,889
Grants paid
$0
Program service revenue
$0
Investment income
$4,756,223
Other revenue
-$235,428
Total assets, end of year
$50,657,188
Total liabilities, end of year
$20,462
Net assets or fund balances, end of year
$50,636,726
Program services expenses (Part IX)
$2,048,840
Management and general expenses
$281,604
Fundraising expenses
$80,858
Program service expenses (Part III)
$2,048,840

Program services were 85.0% 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.

  • 1d · Related organizations

    $567,103

  • 1f · All other contributions, gifts and grants

    $221,786

  • 3 · Investment income

    total $900,177 · excluded $900,177

  • 7a · Gross sales of assets other than inventory

    securities $29,175,292

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

    securities $25,319,246

  • 7c · Gain or loss

    securities $3,856,046

  • 7d · Net gain or loss

    total $3,856,046 · excluded $3,856,046

  • 11a · Other revenue: PARTNERSHIP INCOME (LOSS)

    total -$235,428 · unrelated business -$170,852 · excluded -$64,576

  • 11e · Other revenue, total

    -$235,428

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $163,508 · program services $122,658 · management and general $24,527 · fundraising $16,323

  • 7 · Other salaries and wages

    total $154,552 · program services $20,130 · management and general $134,422

  • 8 · Pension plan contributions

    total $18,048 · program services $4,321 · management and general $13,727

  • 9 · Other employee benefits

    total $16,593 · program services $76 · management and general $16,517

  • 10 · Payroll taxes

    total $28,417 · program services $14,964 · management and general $11,790 · fundraising $1,663

  • 11c · Fees: accounting

    total $49,000 · program services $49,000

  • 11f · Fees: investment management

    total $201,146 · program services $201,146

  • 11g · Fees: other

    total $1,382,820 · program services $1,382,820

  • 12 · Advertising and promotion

    total $30,523 · management and general $105 · fundraising $30,418

  • 13 · Office expenses

    total $27,175 · program services $8,525 · management and general $14,294 · fundraising $4,356

  • 14 · Information technology

    total $10,158 · management and general $10,158

  • 16 · Occupancy

    total $24,000 · management and general $24,000

  • 17 · Travel

    total $59,288 · program services $16,136 · management and general $24,954 · fundraising $18,198

  • 19 · Conferences, conventions and meetings

    total $142,644 · program services $142,644

  • 23 · Insurance

    total $7,110 · management and general $7,110

  • 24a · Other expenses: CONTRIBUTED COMPENSATIO

    total $99,000 · program services $89,100 · fundraising $9,900

  • 24b · Other expenses: UBI TAXES (REFUND)

    total -$2,680 · program services -$2,680

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $86,458

  • 2 · Savings and temporary cash investments

    beginning of year $8,479,576 · end of year $1,383,930

  • 4 · Accounts receivable

    beginning of year $7,195 · end of year $34,839

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,710 · end of year $18,133

  • 11 · Investments: publicly traded securities

    beginning of year $34,997,966 · end of year $48,875,864

  • 12 · Investments: other securities

    beginning of year $611,200 · end of year $344,422

  • 15 · Other assets

    beginning of year $12,520 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,174 · end of year $20,462

  • 27 · Net assets without donor restrictions

    beginning of year $7,270,272 · end of year $12,536,948

  • 28 · Net assets with donor restrictions

    beginning of year $36,914,179 · end of year $38,099,778

Mission and programs · 2023

Mission

ARDI FORTIFIES ACADEMIC DISTINCTION AT THE UNITED STATES AIR FORCE ACADEMY BY ESTABLISHING, STEWARDING, AND MANAGING PERPETUALLY ENDOWED ACADEMIC CHAIRS.

Activities or mission (Part I)

ARDI FORTIFIES ACADEMIC DISTINCTION AT THE USAFA THROUGH PERPETUALLY ENDOWED ACADEMIC CHAIRS

  • TO FOSTER ACADEMIC EXCELLENCE AT THE UNITED STATES AIR FORCE ACADEMY (USAFA) THROUGH SPONSORED PROGRAMS WHICH INCLUDE ENDOWMENT OF PROFESSORIAL CHAIRS IN ALL DEPARTMENTS AND AGENCIES. THE INSTITUTE FOCUSES ITS WORK OF EXCELLENCE AT THE USAFA BY PROVIDING DISTINGUISHED VISITING PROFESSORS TO MENTOR FACULTY AND EDUCATE CADETS IN SUBJECTS SUCH AS ECONOMICS, ARABIC STUDIES, ENGINEERING, AND OTHER TO HELP THEM REACH THEIR ACADEMIC POTENTIAL.

    Expenses $2,048,840

As filed on the 2023 return.

Listed in Part VII

  • Michael Erdle

    CHAIRMAN, CEO

    Total calculated
    $250,863
    From this org
    $0
    From related orgs
    $198,000
    Other
    $52,863
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $49,500 related
    Nontaxable benefits
    $0 + $3,363 related
    Filer's total
    $0 + $250,863 related

  • Dana Montgomery

    VICE PRESIDENT, DIRECTOR

    Total calculated
    $164,218
    From this org
    $132,200
    From related orgs
    $0
    Other
    $32,018
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,200
    Bonus
    $0
    Other
    $0
    Deferred
    $22,145
    Nontaxable benefits
    $9,873
    Filer's total
    $164,218

  • Terry Erdle

    TREASURER, DIRECTOR

    Total calculated
    $82,300
    From this org
    $0
    From related orgs
    $82,300
    Other
    $0
    Hours/week
    5 + 20 related

  • Jack Catton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Bob Edmonds

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Chris Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Rick Pyatt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

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 · Approval by the board or compensation committee

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
THE ORGANIZATION'S CEO IS COMPENSATED BY INTERNATIONAL EDUCATION FOUNDATION, A SUPPORTING ORGANIZATION OF ARDI. SEE SCHEDULE O RESPONSE FOR FORM 990, PART VI, SECTION B, LINE 15A.

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
13 May 2025
IRS schema version
2023v6.0
Source object
202521339349303327

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