2025-05-14T16:49:24-04:00 2024-12-31 STOCKMAN KAST RYAN CO LLP 102 N CASCADE AVENUE SUITE 400 COLORADO SPRINGS CO 80903 990 2024-01-01 260537053 Air Force Academy Foundation % KATIE WILLEMARCK CFO AIRF 7194720300 3116 Academy Drive USAF Academy CO 80840 Katie Willemarck CFO 7194720300 2025-05-15 true true DOREEN B MERZ P00841439 7196301186 2024 2025-03-06 01:10:19Z Katie Willemarck 3116 Academy Drive USAF Academy CO 80840 58010173 false X www.afacademyfoundation.org X 2007 DE 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. 61 60 101 61 22278 19050 37967266 41469423 0 0 2746701 3520428 150019 59893 40863986 45049744 20554505 33702902 0 0 3367948 3451415 287519 382303 3289956 4145800 3319297 28355772 40855917 12508214 4193827 156547159 169492887 14405104 13334420 142142055 156158467 X 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. (CONT'D. ON SCH. O) false false 33283602 33283602 Support for Academic, Athletic, Cadet Activities, and Character & Leadership programs of the United States Air Force Academy in Colorado Springs, Colorado. This also includes capital projects and improvements on the Academy grounds. 1678405 419300 Grants are provided annually to the Association of Graduates (AOG) in support of its operations to support alumni of the USAFA, memorials, and graduate dependent scholarships. This program also includes philanthropic support to build a new office building for the AOG and Air Force Academy Staff, as well as support to pay down the bonds on Hotel Polaris, which will be turned over to the AOG upon payoff of the bonds. 34962007 true true false false false false false false true false true false false false false true false true false false false false false true false false false true true true false false false false false false false false true false false false false true true true false false true 65 0 101 true true true false false false false false false false false false false false X 61 60 true false false false false false false true true false false true true true true true true true true false AK AR CA CO CT DC HI IL KY LA ME MD MA MI MN MS NV NH NJ NM NY NC ND OH OK OR PA RI SC UT WA WV WI X X KATIE WILLEMARCK CFO 7194720300 3116 ACADEMY DRIVE USAF ACADEMY CO 80840 X Kelly Banet Executive VP of Development 38.0 0.0 X 264483 0 42752 Mark Hille CEO 20.0 1.0 X X 167372 0 23102 Katie Willemark CFO 20.0 1.0 X 126765 0 15554 Dale Zschoche Assistant VP for Development 39.0 0.0 X 120995 0 7596 Vincent Greco Assistant VP Philanthropic 39.0 0.0 X 112252 0 7287 Alexander P Gilbert Chair 1.0 0.0 X X 0 0 0 Stephen M Dickson Vice Chair 1.0 0.0 X X 0 0 0 Stephen MacLeod Secretary 1.0 0.0 X X 0 0 0 Jeffrey M Frient Treasurer 1.0 0.0 X X 0 0 0 Dana H Born Director 1.0 0.0 X 0 0 0 Louis W Bremer Director 1.0 0.0 X 0 0 0 Jerome V Bruni Director 1.0 0.0 X 0 0 0 Paul Capon Director 1.0 0.0 X 0 0 0 John D Childs Director 1.0 0.0 X 0 0 0 William Clohan Director 1.0 0.0 X 0 0 0 Evan Dadosky Director 1.0 0.0 X 0 0 0 Leslie G Denend Director 1.0 0.0 X 0 0 0 Terrance M Drabant Director 1.0 0.0 X 0 0 0 Leonard C Ekman Director 1.0 0.0 X 0 0 0 Elizabeth D Ferrill Director 1.0 0.0 X 0 0 0 April S Fitzgerald Director 1.0 0.0 X 0 0 0 John M Fox Director 1.0 0.0 X 0 0 0 Brian C Gornick Director 1.0 0.0 X 0 0 0 Alexander Granados Director 1.0 0.0 X 0 0 0 A Bart Holaday Director 1.0 0.0 X 0 0 0 Bradley C Hosmer Director 1.0 0.0 X 0 0 0 William J Hybl Director 1.0 0.0 X 0 0 0 Max F James Director 1.0 0.0 X 0 0 0 Edward R Jayne Director 1.0 0.0 X 0 0 0 William A Jones Director 1.0 0.0 X 0 0 0 Paul G Kaminski Director 1.0 0.0 X 0 0 0 Jesung Kim Director 1.0 0.0 X 0 0 0 J Scott Kirby Director 1.0 0.0 X 0 0 0 John N Kucera Director 1.0 0.0 X 0 0 0 Matthew J Kuta Director 1.0 0.0 X 0 0 0 H Michael Lambert Director 1.0 0.0 X 0 0 0 P Michael Leahy Director 1.0 0.0 X 0 0 0 Edward E Legasey Director 1.0 0.0 X 0 0 0 Rod Little Director 1.0 0.0 X 0 0 0 Eugene A Lupia Director 1.0 0.0 X 0 0 0 Paul S Madera Director 1.0 0.0 X 0 0 0 Sarah J Marshall Director 1.0 0.0 X 0 0 0 John W Martin Director 1.0 0.0 X 0 0 0 John H Martinson Director 1.0 0.0 X 0 0 0 Richard D McConn Director 1.0 0.0 X 0 0 0 Bradley M Meissen Director 1.0 0.0 X 0 0 0 Gilbert D Mook Director 1.0 0.0 X 0 0 0 Patrick M Nesbitt Director 1.0 0.0 X 0 0 0 Terrence O'Donnell Director 1.0 0.0 X 0 0 0 Kevin O'Neil Director 1.0 0.0 X 0 0 0 Terrence J O'Shaughnessy Director 1.0 0.0 X 0 0 0 Harry J Pearce Director 1.0 0.0 X 0 0 0 Charles E Phillips Director 1.0 0.0 X 0 0 0 Gregg C Popovich Director 1.0 0.0 X 0 0 0 Vincent P Reyna Director 1.0 0.0 X 0 0 0 Paul Rossetti Director 1.0 0.0 X 0 0 0 Daniel J Schnepf Director 1.0 0.0 X 0 0 0 Norton A Schwartz Director 1.0 0.0 X 0 0 0 Thomas A Stein Director 1.0 0.0 X 0 0 0 Harry W Stowers Director 1.0 0.0 X 0 0 0 David J Strobel Director 1.0 0.0 X 0 0 0 William E Wecker Director 1.0 0.0 X 0 0 0 Mark A Welsh Director 1.0 0.0 X 0 0 0 Hugh H Williamson Director 1.0 0.0 X 0 0 0 R David Yost Director 1.0 0.0 X 0 0 0 791867 0 96291 5 false true false Saunders Norwood Construction 111 S Tejon Street Suite 200 COLORADO SPRINGS CO 80903 Construction 9109325 Jostens Inc 7760 France Avenue South Suite 400 MINNEAPOLIS MN 55435 Ring Sculpture 251541 Dimensional Innovations 3421 Merriam Drive OVERLAND PARK KS 66203 Const. of Signage 516108 Legends Sales Marketing LLC 61 Broadway Street Suite 2400 NEW YORK NY 10006 Professional Fund. 390632 Monarch Landscaping Lawn Care Mai 590 Ford Street COLORADO SPRINGS CO 80915 Construction 358662 20 359731 41109692 7327934 41469423 0 3417551 3417551 0 0 0 0 0 13063306 12960429 102877 102877 102877 0 0 0 0 0 0 0 0 0 MISCELLANEOUS REVENUE 900099 37615 37615 UBI FROM PARTNERSHIP K-1S 901101 22278 22278 59893 45049744 22278 3558043 33620148 33620148 82754 82754 0 0 640028 467363 172665 0 2248950 750308 1498642 134364 68893 65471 189633 74843 114790 238440 130992 107448 0 36083 36083 57477 57477 0 382303 382303 0 216532 154039 62493 91644 28329 63315 388392 102986 285406 107484 15449 92035 0 74412 70359 4053 276979 115814 161165 0 52037 33147 18890 0 0 11065 5985 5080 21872 21872 PROGRAM DEVELOPMENT EXP. 1259105 1259105 ALLOCATED ADMIN OVERHEAD EXP. 363371 134014 229357 IMPAIRMENT LOSS 281825 281825 DONOR APPRECIATION 15217 61 15156 65802 54115 11687 40855917 34962007 2603954 3289956 1000 1000 41700644 42319214 43213210 34376051 0 1132906 0 0 0 0 0 0 0 0 1016716 127202 15278805 147986 1077920 15130819 69391591 76395958 0 0 0 0 0 0 146078 9737 156547159 169492887 809997 8813485 12135898 2656946 0 0 0 0 1459209 1863989 0 0 0 0 0 0 0 0 14405104 13334420 X 4015258 6559098 138126797 149599369 142142055 156158467 156547159 169492887 X 4193827 10358080 -535495 X X false true X true false X 25755936 30172405 36726436 37729553 41469423 171853753 0 0 25755936 30172405 36726436 37729553 41469423 171853753 33739209 138114544 874125 922386 1805697 2653376 3417551 9673135 22278 22278 4088 11550 10946 150019 37615 214218 181763384 0.75986 0.76445 X SCH A, PART II, LINE 1 During 2024, the Organization determined prior year pledges had become uncollectible. Line 1, Contributions, for the following years, has been adjusted to reflect the uncollectible pledges: Column (c)2022 - $299,353 and Column (d)2023 - $237,714. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 0 0 0 11750 11750 0 104052 92290 11762 15163003 43946 15119057 15130819 0 0 X 54872329 10358080 10358080 44514249 535495 535495 45049744 40855917 40855917 40855917 Schedule D Part IV Line 2 The Organization holds funds on behalf of The Friends of the Air Force Academy Library (The Friends), a separate nonprofit organization which also supports the Academy. Schedule D Part X, Line 2 Both the Foundation and the Trust are qualified organizations exempt from federal income taxes under the provisions of 501(c)(3) of the Internal Revenue Code. In addition, both the Foundation and the Trust qualify for the charitable contribution deduction. The Organization believes that it does not have any uncertain tax positions that are material to the consolidated financial statements. schedule d Part XI line 4b Uncollectible pledges netted with revenue for audit shown as an adjustment to Net assets under Form 990 Part XI line 9: $537,067 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT: ($ 1,572) ------------- Total $535,495 X X X X X true LEGENDS SALES MARKETING LLC 3450 N 127th Street Unit A Brookfield WI 53005 SOLIC. OF DONATIONS false 395373 382303 13070 395373 382303 13070 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY true ASSOCIATION OF GRADUATES OF THE USAFA 3116 ACADEMY DRIVE USAF Academy CO 808404475 840580665 501(C)(3) 419300 See Part IV AIR FORCE ACADEMY ATHLETIC Association 2618 FIELDHOUSE DRIVE USAF Academy CO 80840 454331061 501(C)(3) 30733657 316701 FMV Paid CC Fees/Bills Pd See Part IV Academy Research and Development Institute 1490 Garden of the Gods Rd Colorado Springs CO 80907 742378230 501(c)(3) 261008 32930 FMV Paid Advisory Fees Pd See Part IV Way of Life Affinity Group of the USAF Academy 1895 Springcrest Road Colorado Springs CO 80920 842893864 501(C)(3) 10744 See Part IV US Treasury 2304 Cadet Drive Suite 3200 USAFA CO 80840 Federal Govern. 1670887 174920 FMV Paid VARIOUS ITEMS See Part IV 5 0 Major General Follett Bradley Scholarship 1 60110 Dennis P. Rando Grants 23 12589 10055 FMV Paid Flights/Hotels SCHEDULE I, PART I, LINE 2: United States Air Force Academy THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS PROVIDED TO THE UNITED STATES AIR FORCE ACADEMY BY MAINTAINING REGULAR CONTACT WITH THE UNITED STATES AIR FORCE ACADEMY SUPERINTENDENT'S OFFICE AND STAFF. Air Force Academy Athletic Corporation THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS PROVIDED TO THE AIR FORCE ACADEMY ATHLETIC CORPORATION DEPARTMENT BY MAINTAINING REGULAR CONTACT WITH THE ATHLETIC DIRECTOR'S OFFICE AND STAFF. Association of Graduates of the USAFA The Organization monitors the use of grant funds provided to the Association of Graduates of the United States Air Force Academy by maintaining regular contact with Association's directors, officers and staff, including reciprocal attendance at the Association's and the Organization's Board of Directors meetings and at various other Association and Organization meetings, events and activities. Schedule I, Part II, column H, line 1-6 Purpose of Grant or Assistance: 1) GENERAL ASSISTANCE TO SUPPORT ASSOCIATION PROGRAMS 2) SUPPORT FOR USAFA ATHLETIC PROGRAMS AND FACILITIES 3) GENERAL ASSISTANCE TO SUPPORT FOUNDATION PROGRAMS 4) General Assistance to Alumni of the USAFA 5) SCHOLAR FEES, FURNITURE & REAL PROPERTY IMPROVEMENTS schedule i, part iii, column (b), line 1-2 column B reports the number of scholarship and financial assistance recipients. X true true X X X X false false false false false false false true false Kelly Banet Executive VP of Development 182189 82294 16353 26399 307235 Mark Hille CEO 147589 19783 9083 14019 190474 Schedule J, Part I, Line 7 Bonuses were paid to all qualifying employees, subject to approval by the compensation and executive committees. Schedule J, Part II, Line 1 & 2 SEE SCHEDULE O DISCLOSURE REFERENCING FORM 990, PART VII, COLUMN (D), COLUMN (F), AS RELATED TO THE COOPERATIVE OPERATING AGREEMENT WITH THE ASSOCIATION OF GRADUATES OF THE AIR FORCE ACADEMY (AOG). X 59 7305632 FMV X Fundraiser Host 2 17193 FMV X Coins for donor recognition for class project 1 5109 FMV 0 false true true SCHEDULE M, PART I, LINE 32B: AIR FORCE ACADEMY FOUNDATION USED LEGENDS SALES & MARKETING, LLC, A TELEMARKETER, TO SOLICIT CONTRIBUTIONS. THE ORGANIZATION ALSO USES A BROKERAGE FIRM TO SELL DONATED STOCK. THE ORGANIZATION ALSO USES A REAL ESTATE BROKER TO SELL REAL ESTATE. SCHEDULE M, PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS. Supplemental Information The Organization received $8,232,814 of Publicly Traded Securities during 2024 as payment of prior year pledges. These amounts are recognized in income in prior years and are not reported on Schedule M. FORM 990, PART I, line 1, and Part III, Line 1 continued Strategic Priorities of: (1) Engagement - Cultivate lifelong relationships and provide valued service to the Academy and our graduates. (2) Philanthropy - Enhance financial strength and stability to advance the Academy and sustain our mission. (3) Stewardship - Responsibly seek and manage gifted time, talent, treasure and relationships. (4) Communication - Tell the story of our Academy, our graduates and our mission with our words and actions. (5) Organizational Excellence - Align our values, our culture and our commitment as a team to drive overall effectiveness of our mission. FORM 990, PART VI, SECTION A, LINE 2 SEVERAL INDIVIDUALS OF THE BOARD OF DIRECTORS FOR THE AIR FORCE ACADEMY FOUNDATION (AFAF), ALSO SERVE AS EITHER A BOARD DIRECTOR OR AN OFFICER OF THE RELATED ORGANIZATION AIR FORCE ACADEMY FOUNDATION REAL ESTATE TRUST (AFAF R/E) AND/OR ON THE UNRELATED, NON-PROFIT ORGANIZATION, ASSOCIATION OF GRADUATES OF THE U.S. AIR FORCE ACADEMY (AOG). BOARD OFFICERS, MARK HILLE, CEO, KATIE WILLEMARCK, CFO, AND KELLY BANET, EXECUTIVE VP OF DEVELOPMENT ARE DEEMED COMPENSATED EMPLOYEES OF THE AFAF AND AOG. SINCE BOTH BOARD MEMBERS OF AFAF, AFAF R/E, AND THE COMPENSATED OFFICERS OF AFAF AND AOG, ALL SERVE ON THE FILING ORGANIZATION SIMULTANEOUSLY, THESE INDIVIDUALS ARE DEEMED TO HAVE A "BUSINESS" RELATIONSHIP, BASED ON THE IRS DEFINITION OF THE BUSINESS RELATIONSHIP. THE FOLLOWING BOARD DIRECTORS HAVE A BUSINESS RELATIONSHIP: MARK HILLE, KATIE WILLEMARCK, KELLY BANET, KEVIN O'NEIL, JACK KUCERA, AND ALEXANDER P. GILBERT. FORM 990, PART VI, SECTION B, LINE 11 b: THE ORGANIZATION PROVIDED THE FORM 990 TO THE ORGANIZATION'S BOARD AND AUDIT COMMITTEE FOR REVIEW AND COMMENT BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12 C: THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY AND ANNUALLY SOLICITS CONFLICT OF INTEREST INFORMATION FROM BOARD MEMBERS AND OFFICERS. COMPLIANCE WITH OUR CONFLICT-OF-INTEREST POLICY IS EMPHASIZED DURING REGULAR BOARD MEETINGS BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 A & b: Compensation for the CEO AND OTHER OFFICERS IS annually determined by the compensation and Executive Committees of the Board of Directors. IN ACCORDANCE WITH THEIR POLICY, THE COMMITTEE MAKES SALARY RECOMMENDATIONS TO THE BOARD BASED ON A REVIEW OF CORROBORATING REFERENCES. THE BOARD VOTES ON ANY CHANGES TO SALARY AND IMPLEMENTS THEM ACCORDINGLY. THE ORGANIZATION HAS NO OTHER PAID OFFICERS OR EMPLOYEES MEETING THE IRS DEFINITION OF A KEY EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 17: THE ORGANIZATION HAS REGISTERED OR BEEN NOTIFIED THAT REGISTRATION IS NOT REQUIRED IN ALL 50 U.S. STATES. A COPY OF THE 990 IS FILED WITH ALL STATES REQUIRING THE FILING OF FORM 990 TO FULFILL STATE EXEMPT ORGANIZATION OR CHARITABLE SOLICITATION REPORTING REQUIREMENTS. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION PROVIDES KEY FINANCIAL, POLICY, AND OTHER INFORMATION TO THE PUBLIC VIA THE WEBSITE WWW.AFACADEMYFOUNDATION.ORG. ANY DOCUMENTS THAT ARE A MATTER OF PUBLIC RECORD AND ARE NOT AVAILABLE ON THE WEBSITE ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990 Part VII FORM 990, PART I, LINE 5 AND 990, PART VI, LINE 2A / 2B FORM 990, PART VII, COLUMN (D), COLUMN (F) FORM 990, PART VII, LINE 5, SCHEDULE J, PART II, LINE 1 THE FILING ORGANIZATION, AIR FORCE ACADEMY FOUNDATION (AFAF), PARTICIPATES IN A COOPERATIVE OPERATING AGREEMENT WITH THE ASSOCIATION OF GRADUATES OF THE U.S. AIR FORCE ACADEMY (AOG). THE AGREEMENT PROVIDES FOR SHARED SERVICES INCLUDING OFFICE SPACE, FURNITURE AND EQUIPMENT, DATA ENTRY SERVICES, MAIL AND CHECK PROCESSING SERVICES, AND INFORMATION TECHNOLOGY SUPPORT. ADDITIONALLY, AS PART OF THE COOPERATIVE OPERATING AGREEMENT, THE ORGANIZATIONS ARE UNDER A COMMON PAYMASTER AGREEMENT WHICH INCLUDES SHARED LEADERSHIP COSTS FOR THE CHIEF EXECUTIVE OFFICER (CEO) AND ALL OTHER SHARED STAFF. AS OF 2024, THE AIR FORCE ACADEMY FOUNDATION BECAME THE EMPLOYER OF RECORD, FILING ALL PERTINENT TAX DOCUMENTS ON A QUARTERLY AND ANNUAL BASIS AS NEEDED, INCLUDING MAKING REQUIRED TAX DEPOSITS. HOWEVER, AS THE INDIVIDUALS MEET THE DEFINITION OF COMMON LAW EMPLOYEES OF BOTH THE AOG AND THE AFAF, ONLY THE AFAF'S PORTION OF SALARIES/WAGES ARE REFLECTED ON FORM 990, PART VII, SECTION A, COLUMN D AND E, AND ON FORM 990, PART IX, STATEMENT OF FUNCTIONAL EXPENSE, LINES 5 THROUGH 10, AS INSTRUCTED PER IRS GUIDELINES. Form 990, Part XI, Line 9 Write off of prior year UNCOLLECTIBLE pledges -$537,067 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT $1,572 ___________ Total -$535,495 Form 990, Part XII, Line 2c THE PROCESS FOR OVERSEEING THE AUDIT HAS NOT CHANGED FROM PRIOR YEARS. Air Force ACADEMY Real Estate Trust 3116 Academy Drive USAF Academy CO 80840 861379592 See Part VII CO 501(c)(3) 12(A) AFA FND true true false true true false false false false false false true false true true true true false false Air Force Academy Real Estate Trust a 5640 Cash - interest AIR FORCE ACADEMY REAL ESTATE TRUST c 359731 cash AIR FORCE ACADEMY REAL ESTATE TRUST d 128064 ye balance Part II, Line 1B Primary activity of the Air Force Real Estate Trust is to align donor passion and generosity to serve and support the Air Force Academy through the Air Force Academy Foundation.