2012-11-13T16:45:57-06:00 2011-12-31 410746749 CLIFTONLARSONALLEN LLP 4250 N FAIRFAX DRIVE SUITE 1020 ARLINGTON VA 22203 990 2011-01-01 526043929 AIR FORCE ASSOCIATION AIRF 7032475800 1501 LEE HIGHWAY NO 400 ARLINGTON VA 222091198 CRAIG MCKINLEY 7032475800 2012-11-09 1 KAREN A GRIES P00078514 5712279500 2011 2016-02-24 21:20:13Z CRAIG MCKINLEY 1501 LEE HIGHWAY NO 400 ARLINGTON VA 222091198 21291953 0 X WWW.AFA.ORG X 1956 VA PROMOTE AIR FORCE AIRPOWER AND EDUCATE THE PUBLIC. 19 19 76 30 1340515 0 2786077 2418411 8718796 8810796 797506 905231 89244 61034 12391623 12195472 385220 314608 0 0 5612878 5570629 45604 58450 591106 6976811 7703071 13020513 13646758 -628890 -1451286 24303012 22853330 16657571 24119801 7645441 -1266471 X THE AIR FORCE ASSOCIATION (AFA) IS AN INDEPENDENT, NONPROFIT, CIVILIAN EDUCATION ORGANIZATION PROMOTING PUBLIC UNDERSTANDING OF AEROSPACE POWER AND THE PIVOTAL ROLE IT PLAYS IN THE SECURITY OF THE NATION. AFA PUBLISHES AIR FORCE MAGAZINE, CONDUCTS NATIONAL SYMPOSIA AND DISSEMINATES INFORMATION THROUGH OUTREACH PROGRAMS. IT SPONSORS PROFESSIONAL DEVELOPMENT SEMINARS AND RECOGNIZES EXCELLENCE IN THE EDUCATION AND AEROSPACE FIELDS THROUGH NATIONAL AWARDS PROGRAMS. AFA PRESENTS SCHOLARSHIPS AND GRANTS TO AIR FORCE ACTIVE DUTY, AIR NATIONAL GUARD AND AIR FORCE RESERVE MEMBERS AND THEIR DEPENDENTS; AND AWARDS EDUCATOR GRANTS TO PROMOTE SCIENCE AND MATH EDUCATION AT THE ELEMENTARY AND SECONDARY SCHOOL LEVEL. ADDITIONALLY, AFA PUBLISHES A WIDE RANGE OF MATERIALS ON WWW.AFA.ORG. 0 0 2691337 960656 BRIEFINGS & SYMPOSIAAFA SPONSORS COMPREHENSIVE BRIEFINGS BY KEY AIR FORCE AND DEPARTMENT OF DEFENSE LEADERS AT NATIONAL SYMPOSIA ACROSS THE COUNTRY. THESE SYMPOSIA ARE KEYED TO TOPICAL AEROSPACE AND DEFENSE ISSUES. THE SCHEDULE FOR 2011 INCLUDED THE AIR & SPACE CONFERENCE AND TECHNOLOGY EXPOSITION IN WASHINGTON, D.C. (SEPTEMBER 2011); A NATIONAL SYMPOSIUM IN LOS ANGELES, CA (NOVEMBER 2011); AND THE AIR WARFARE SYMPOSIUM IN ORLANDO, FL (FEBRUARY 2011). THE ASSOCIATION SPONSORS THE ANNUAL AIR FORCE BALL IN LOS ANGELES, AND SEVERAL OTHER EVENTS, TO RAISE MONEY FOR ITS EDUCATIONAL PROGRAMS AND AIR FORCE CHARITIES. AFA ALSO SUPPORTS THE OUTSTANDING SQUADRON DINNER WHICH HONORS THE AIR FORCE ACADEMY'S TOP CADET SQUADRON. AT ITS NATIONAL CONVENTION, AFA HOSTS A DINNER FOR THE AIR FORCE'S TWELVE OUTSTANDING AIRMEN OF THE YEAR. AFA ALSO CONDUCTS AN EXTENSIVE ANNUAL AWARDS PROGRAM TO HONOR TOP AIR FORCE PROFESSIONALS IN KEY CAREER FIELDS. 3783660 AIR FORCE MAGAZINE - EACH MONTH, AIR FORCE ASSOCIATION PUBLISHES AIR FORCE MAGAZINE, A HIGHLY REGARDED AEROSPACE JOURNAL THAT REACHES THE DESKS OF THOSE IN THE HIGHEST LEVEL OF GOVERNMENT, INDUSTRY, DEFENSE, BUSINESS, ACADEMIA, AND THE MEDIA. IT IS READ FOR ITS AUTHENTICITY, ACCURACY AND INVESTIGATIVE SPIRIT IN REPORTING AEROSPACE AND DEFENSE MATTERS. THE CURRENT MONTHLY CIRCULATION IS 112,988. AIR FORCE ASSOCIATION PUBLISHES SEVERAL WIDELY DISTRIBUTED NEWSLETTERS: "NEWSLINE", WHICH CONSOLIDATES THE ADMINISTRATIVE AND OPERATIONAL NEWS FROM AIR FORCE ASSOCIATION HEADQUARTERS TO AIR FORCE ASSOCIATION FIELD LEADERS; AND THE "VISIONS" NEWSLETTER, WHICH HIGHLIGHTS SUBJECTS AND EVENTS THAT ARE OF INTEREST TO AEROSPACE-ORIENTED CLASSROOMS. THE ASSOCIATION ALSO PUBLISHES ITS ANNUAL STATEMENT OF POLICY AND TOP ISSUES AND, PERIODICALLY, ISSUES BRIEFS AND SPECIAL REPORTS THAT ARE WIDELY DISTRIBUTED ON CAPITOL HILL, TO THE MEDIA, AND THROUGHOUT AIR FORCE ASSOCIATION'S GRASSROOTS NETWORK. 2191703 2824070 MEMBERSHIP - AFA IS A PROFESSIONAL ORGANIZATION THAT REPRESENTS THE ENTIRE AIR FORCE FAMILY - ENLISTED, OFFICER, ACTIVE DUTY AND RETIRED, GUARD, RESERVE AND CIVILIAN. OUR MISSION IS TO EDUCATE THE PUBLIC ON THE IMPORTANCE OF AEROSPACE POWER, ADVOCATE FOR A STRONG NATIONAL DEFENSE, AND TAKE CARE OF OUR OWN. THE GENERAL BILLY MITCHELL INSTITUTE PROMOTES AIR POWER INITIATIVES THROUGH SPECIAL MEDIA PRESENTATIONS AND ADVOCACY EFFORTS. WE ALSO PROVIDE GRANTS TO FURTHER AEROSPACE EDUCATION AND OFFER PROFESSIONAL DEVELOPMENT PROGRAMS. THROUGH OUR OUTREACH PROGRAMS AFA RECOGNIZES EXCELLENCE WITH A VARIETY OF NATIONAL AEROSPACE AWARDS AND IS RESPONSIBLE FOR THE CREATION OF THE AIR FORCE OUTSTANDING AIRMEN PROGRAM. 2988340 314608 70400 FIELD SERVICE -AFA IS LED BY VOLUNTEER LEADERS AT THE NATIONAL, STATE AND LOCAL LEVELS. AFA'S STATE ORGANIZATIONS AND MORE THAN 230 CHAPTERS HOLD ELECTIONS AND CONDUCT PROGRAMS TO INCREASE PUBLIC UNDERSTANDING OF KEY NATIONAL SECURITY ISSUES IN THEIR COMMUNITIES. PROGRAMS RANGE FROM LUNCHEON AND DINNER ACTIVITES TO SYMPOSIA AND LEGISLATIVE ROUNDTABLES WITH CONGRESSIONAL LEADERS. EXPENSES TOTAL $622,575.SCHOLARSHIPS, GRANTS, AWARDS, AND PUBLIC AWARENESS:AFA IS DEDICATED TO ENSURING AMERICA'S AEROSPACE EXCELLENCE THROUGH EDUCATION, SCHOLARSHIPS, GRANTS, AWARDS AND PUBLIC AWARENESS PROGRAMS. IN ADDITION, AFA SPONSORS A SERIES OF STUDIES AND FORUMS ON AEROSPACE AND NATIONAL SECURITY THROUGH ITS PUBLIC POLICY AND RESEARCH ARM, THE MITCHELL INSTITUTE. THE INSTITUTE WAS ESTABLISHED IN 1996 TO FOCUS AND EXPAND UPON EXISTING EDUCATIONAL EFFORTS IN AEROSPACE AND NATIONAL SECURITY POLICY. AFA WORKS THROUGH A NETWORK OF THOUSANDS OF INDIVIDUAL MEMBERS AND VOLUNTEERS TO DISTRIBUTE EDUCATIONAL MATERIALS TO SCHOOLS AND CONCERNED CITIZENS. THIS IS DONE IN PART THROUGH "VISIONS OF EXPLORATION," A JOINT MULTI-DISCIPLINARY SCIENCE, MATH AND SOCIAL STUDIES PROGRAM WITH USA TODAY. TOTAL EXPENSES WERE $803,735 INCLUDING $314,608 OF GRANTS. CYBER PATRIOT & CYBER FUTURES:CYBERPATRIOT IS THE NATIONAL HIGH SCHOOL CYBER DEFENSE COMPETITION CREATED BY THE AIR FORCE ASSOCIATION (AFA) TO EXCITE, EDUCATE, AND MOTIVATE THE NEXT GENERATION OF CYBER DEFENDERS AND OTHER SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS (STEM) GRADUATES OUR NATION NEEDS. TOTAL REVENUE WAS $70,400 AND TOTAL EXPENSES WERE $1,562,030. 2988340 314608 70400 11655040 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 80 0 76 1 1 1 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 AK AZ AR CA CT FL HI IL KS KY LA ME MD MA MI MN MS MO NH NJ NY NC ND OH OK OR PA SC TN UT VA WA WV WI AL CO GA IA NM RI X X THE ORGANIZATION 7032475800 1501 LEE HIGHWAY NO 400 ARLINGTON VA 222091198 X S SANFORD SCHLITT 20.00 X X 0 0 0 JUSTIN FAIFERLICK 15.00 X X 0 0 0 GEORGE K MUELLNER 15.00 X X 0 0 0 EDWARD W GARLAND 5.00 X X 0 0 0 LEN VERNAMONTI 10.00 X X 0 0 0 JOHN T BROCK 1.00 X 0 0 0 ROBERT W DREWES 1.00 X 0 0 0 ANGELA DUPONT 1.00 X 0 0 0 WAYNE R KAUFFMAN 1.00 X 0 0 0 LARRY LAWSON 1.00 X 0 0 0 WILLIAM R LOONEY III 1.00 X 0 0 0 ROD MCKINLEY 1.00 X 0 0 0 DON MICHELS 1.00 X 0 0 0 JOHN F PHILLIPS 1.00 X 0 0 0 MARVIN TOOMAN 1.00 X 0 0 0 JOHN D CORLEY 1.00 X 0 0 0 RICK HARTLE 1.00 X 0 0 0 DONALD TAYLOR 1.00 X 0 0 0 STEPHEN G WOOD 1.00 X 0 0 0 MICHAEL M DUNN 40.00 X 214557 53639 3319 DAVID BUCKWALTER 40.00 X 124546 31138 1027 WILLIAM TURNER 40.00 X 167662 0 10002 WILLIAM COX 29.00 X 87846 33321 3943 LAUREN BRICE 28.00 X 85479 36634 960 MARY ELLEN DOBROWOLSKI 40.00 X 112375 0 3970 KATHY SNODGRASS 20.00 X 54746 54746 4260 847211 209478 27481 4 0 1 0 RR DONNELLY POB 730216 DALLAS TX 753730216 AF MAGAZINE PRINT DISTRIBUTION 824144 GETTINGS PRODUCTION INC 275 NORTH LAKE SHORE DRIVE OCOEE FL 34761 A&S CONFERENCE PRODUCTION SERVICES 205134 XEDO LIMITED 21142 KIRKSEY ROAD ELKINS AR 727273587 CONSTULTING CYBER PATRIOT PROGRAM 195000 CHELSEA COURT 8 CHELSEA COURT MARLTON NJ 080532804 PRINTING SERVICES 145472 AVATAR LABS 16030 VENTURA BLVD 102 ENCINO CA 91436 CYBERPATRIOT GAME CREATION 125000 5 123362 2295049 2860 2418411 AIR & SPACE CONFERENCE 900099 3683044 960656 2722388 MEMBERSHIP DUES 900099 2241719 2241719 MAGAZINE ADVERTISING 541800 1307215 1307215 SYMPOSIUMS 900099 694469 694469 CORPORATE MEMBERS 900099 395469 395469 488880 455580 33300 8810796 428950 428950 24626 24626 9572762 9096481 476281 476281 476281 MISCELLANEOUS 900099 36408 36408 36408 12195472 4078050 1340515 4358496 284608 284608 30000 30000 450600 365732 65237 19631 3964655 3217934 573995 172726 583715 517857 37959 27899 254113 209787 36523 7803 317546 254372 48332 14842 16362 16362 52109 12425 39684 58450 58450 151779 115089 36690 927968 764126 107641 56201 203931 188756 12072 3103 2681787 2249582 58435 373770 117136 117136 316496 307800 7701 995 123689 123689 78835 78835 HOTEL AND RESTAURANT 1761643 1746461 14742 440 MAGAZINE PRODUCTION & P 880135 880135 CHAPTER & STATE COMMISS 386259 386259 VISIONS PROGRAM MATERIA 158508 158508 -153566 -370413 361601 -144754 13646758 11655040 1400612 591106 X 336997 214017 37924 85056 2440769 3846230 118230 249820 397845 56167 503 195703 194868 1850640 1287738 554228 562902 19189847 17282053 1616478 450699 24303012 22853330 1886434 1980594 2606303 2609174 12164834 19530033 16657571 24119801 X 5902921 -2799877 791022 585109 951498 948297 7645441 -1266471 24303012 22853330 X -1451286 -7460626 X 0 1 1 X 0 X 1842087 2168087 1528160 2786076 2418411 10742821 1842087 2168087 1528160 2786076 2418411 10742821 1606674 9136147 750000 608627 523984 487648 448843 2819102 34213 70450 74915 69682 106808 356068 13917991 19066235 0.65640 0.67310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 717201 4425 2334 21599 702361 617610 16500 104993 7000 14902 717201 721217 7890 -98307 7000 33190 617610 746305 116400 -111766 12000 17722 721217 0 0 852469 735253 117216 998171 552485 445686 562902 PENSION LIABILITY 9634749 DUE TO AFFILIATED ORGANIZATIONS 9844992 CAPITAL LEASE OBLIGATION 50292 19530033 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS WILL BE USED FOR SCHOLARSHIPS AND AWARDS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: AFA IS EXEMPT FROM THE PAYMENT OF INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). IT HAS BEEN DETERMINED THAT AFA IS NOT A PRIVATE FOUNDATION AS IT MEETS THE REQUIREMENTS OF BEING PUBLICLY SUPPORTED UNDER IRC SECTION 509(A)(2). AFAVBA IS EXEMPT FROM THE PAYMENT OF INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 501(C)(19) OF THE INTERNAL REVENUE CODE. AFMF IS A NOT-FOR-PROFIT ORGANIZATION INCORPORATED IN THE DISTRICT OF COLUMBIA AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). IT HAS BEEN DETERMINED THAT THE FOUNDATION IS NOT A PRIVATE FOUNDATION AS DEFINED AS SECTION 509(A)(1) OF THE IRC. ALL ENTITIES ARE SUBJECT TO INCOME TAXES FROM UNRELATED BUSINESS INCOME. AFA AND AFFILIATES EVALUATED THEIR TAX POSITIONS AND DETERMINED THAT THEIR POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED ON EXAMINATION. THE AFA AND AFFILIATES TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE AND LOCAL AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2008 TO 2010 ARE OPEN TO EXAMINATION BY FEDERAL, STATE AND LOCAL AUTHORITIES. X X X 1 PM DIRECT MARKETING 11250 WAPLES MILL ROAD SUITE 310 FAIRFAX VA 22030 FUNDRAISING CONSULTANT 0 908074 37500 870574 VIRTUALGIVINGCOM 1288 VALLEY FORGE RD BLDG 82 PHOENIXVILLE PA 19460 FUNDRAISING CONSULTANT 0 18134 2950 15184 ALLEGIANCE CREATIVE GROUP 11250 WAPLES MILL ROAD SUITE 310 FAIRFAX VA 22030 FUNDRAISING CONSULTANT 0 0 18000 -18000 926208 58450 867758 CA WA WI UT VA AL AK AZ AR CO CT FL HI IA IL KS KY LA ME MA MD MI MN MS NH NJ NC ND OH OK OR SC TN MO PA WV GA NM NY RI 1 HQ CIVIL AIR PATROL 105 SOUTH HANSELL ST BLDG 714 MAXWELL AFB AL 36112 756037853 501(C)(3) 22500 PROVIDES GRANTS TO CIVIL AIR PATROL UNITS TO ENHANCE AEROSPACE EDUCATION ARNOLD AIR SOCIETY 9 E LOCKERMAN ST STE 2B DOVER DE 19901 530231491 501(C)(4) 8500 FINANCIAL SUPPORT FOR AAS CONCLAVE (ANNUAL MEETING) SCHOLARSHIPS 2 30000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ALL REQUESTS ARE REVIEWED BY COMMITTEES. MOST COMMITTEES ARE OUTSIDE THE AIR FORCE ASSOCIATION. SCHOLARSHIPS ARE GRANTED BASED ON NEED, ACADEMIC ACHIEVEMENT, AND STUDY IN TECHNICAL DISCIPLINES. AIR FORCE ASSOCIATION MONITORS THE AWARDS THROUGH FEEDBACK REPORTS. AWARDS ARE PRESENTED BY A NATIONAL OFFICER AT THE ROTC COMPETITION AND ARE HANDED OUT AT BOARD MEETINGS AND AT THE CONVENTION. X X X X X 0 0 0 0 0 0 0 0 0 MICHAEL M DUNN 214557 53639 0 0 0 0 240 60 2874 145 217671 53844 0 0 DAVID BUCKWALTER 124546 31138 0 0 0 0 240 60 582 145 125368 31343 0 0 WILLIAM TURNER 167662 0 0 0 0 0 300 0 9702 0 177664 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED OF THE BOARD OFFICERS AND TWO ADDITIONAL APPOINTEES OF THE BOARD CHAIRMAN. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE FULL BOARD WHEN THE FULL BOARD IS NOT IN SESSION. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS VARIOUS CLASSES OF MEMBERS BASES ON LENGTH OF MEMBERSHIP (INCLUDING LIFE MEMBERS) AND TYPE (INCLUDING STUDENT, REGULAR, CADET, ETC.) FORM 990, PART VI, SECTION A, LINE 7A THE VOTING DELEGATES OF THE ORGANIZATION ELECT THE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE DELEGATES OF THE ORGANIZATION APPROVE THE AIR FORCE ASSOCIATION STATEMENT OF POLICY; ELECT MEMBERS OF THE GOVERNING BODY; APPROVE DUES INCREASES; AND APPROVE CHANGES TO AIR FORCE ASSOCIATION CONSTITUTION. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING AND REVIEWED THOROUGHLY BY THE ORGANIZATION'S COMPTROLLER AND TREASURER. FORM 990, PART VI, SECTION B, LINE 12C HANDLING A CONFLICT OF INTEREST THAT ARISES AT A MEETING - A DIRECTOR SHOULD BE SENSITIVE TO ANY INTEREST HE OR SHE MAY HAVE IN A DECISION TO BE MADE BY THE BOARD OF DIRECTORS AND, INSOFAR AS POSSIBLE, RECOGNIZE THAT SUCH INTEREST EXISTS PRIOR TO THE DISCUSSION OR PRESENTATION OF SUCH A MATTER BEFORE THE BOARD. WHEN A DIRECTOR HAS AN INTEREST IN A TRANSACTION BEING CONSIDERED BY THE BOARD, HE OR SHE SHOULD DISCLOSE THE CONFLICT BEFORE THE BOARD TAKES ACTION ON THE MATTER. THE DIRECTOR SHALL REFRAIN FROM VOTING ON ANY SUCH TRANSACTION, PARTICIPATING IN DELIBERATIONS CONCERNING IT, OR USING PERSONAL INFLUENCE IN ANY WAY. THE DIRECTOR'S PRESENCE MAY NOT BE COUNTED IN DETERMINING THE QUORUM FOR ANY AIR FORCE ASSOCIATION BUSINESS TRANSACTION IN WHICH HE OR SHE HAS A POSSIBLE INTEREST. IF THE DIRECTOR RECOGNIZES THAT THE CONFLICT IS ONGOING AND THAT THE INFORMATION DISCUSSED AT THE BOARD MEETING WILL BEAR ON THAT CONFLICT, THE DIRECTOR SHOULD NOT PARTICIPATE IN THAT PORTION OF THE DISCUSSION AND LEAVE THE ROOM. IN THIS CASE, THE APPROPRIATE MATERIAL SHOULD BE DELETED FROM THE MINUTES PROVIDED TO THAT DIRECTOR. IF THE DIRECTOR IN GOOD FAITH DETECTS THAT HE OR SHE HAS FAILED TO RECOGNIZE A CONFLICT, THE DIRECTOR, WHEN IT IS RECOGNIZED, SHALL REPORT THAT FAILURE TO THE CHAIRMAN OF THE BOARD, WHO SHALL TAKE APPROPRIATE ACTION TO PREVENT CONTINUATION OF THE CONFLICT AND MITIGATE PAST ACTION TO THE EXTENT REASONABLE. THE MATTER SHALL BE REFERRED TO THE EXECUTIVE COMMITTEE FOR REVIEW AND RECOMMENDATION. FORM 990, PART VI, SECTION B, LINE 15A PRESIDENT ONLY - THE COMPENSATION OF THE PRESIDENT IS SET BY THE EXECUTIVE COMMITTEE ON BEHALF OF THE BOARD OF DIRECTORS AND IS REVIEWED ANNUALLY. THE LAST REVIEW DID OCCUR IN 2011. THE BOARD HAS ESTABLISHED A POLICY TO PROVIDE FOR ANNUAL REVIEW OF THE PRESIDENT'S PERFORMANCE AND COMPENSATION. THE POLICY PROVIDES FOR A PRESIDENT EVALUATION AND COMPENSATION COMMITTEE (PECC) BY THE TREASURER OF THE ASSOCIATION THAT INCLUDES THE TWO VICE CHAIRMEN, THE NATIONAL SECRETARY, AND UP TO THREE MEMBERS OF THE BOARD TO BE NOMINATED BY THE CHAIRMAN OF THE BOARD AND APPROVED BY THE BOARD. THE CHAIRMAN WILL SERVE EX-OFFICIO ON THE PECC WITHOUT VOTE. THE PECC REPORTS ANNUALLY TO THE EXECUTIVE COMMITTEE, WHO IN TURN, RECOMMENDS COMPENSATION ADJUSTMENTS TO THE BOARD FOR APPROVAL. BROAD CRITERIA ARE PROVIDED TO THE PECC AS ARE SUGGESTED EXTERNAL REFERENCES, AND THE PECC MAY USE THE SERVICES OF AN OUTSIDE CONSULTANT. THE OTHER OFFICERS AND KEY EMPLOYEES ARE EVALUATED ANNUALLY BY THE PRESIDENT. ACTUAL EMPLOYEE COMPENSATION IS COMPARED TO SALARY SURVEY INFORMATION PROVIDED BY INDEPENDENT SOURCES. THE LAST REVIEW DID OCCUR IN 2011. FORM 990, PART VI, SECTION C, LINE 19 AIR FORCE ASSOCIATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND ITS FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. EACH OFFICER OR BOARD MEMBER LISTED BELOW DIVIDES THEIR TIME AMONG PART VII, OFFICER HOURS RELATED ORGANIZATIONS AS LISTED: S. SANFORD SCHLITT AIR FORCE ASSOCIATION - 20 HRS/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK JUSTIN FAIFERLICK AIR FORCE ASSOCIATION - 15 HRS/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK GEORGE K. MUELLNER AIR FORCE ASSOCIATION - 15 HRS/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK EDWARD W. GARLAND AIR FORCE ASSOCIATION - 5 HRS/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK LEONARD VERNAMONTI AIR FORCE ASSOCIATION - 10 HRS/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK ROBERT W. DREWES AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK ANGELA DUPONT AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK JOHN T. BROCK AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK JOHN D.W. CORLEY AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK WAYNE R. KAUFFMAN AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK LARRY LAWSON AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK WILLIAM R. LOONEY III AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK RODNEY MCKINLEY AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK DONALD MICHELS AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK RICK HARTLE AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK JOHN F. PHILLIPS AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK MARVIN TOOMAN AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK DONALD TAYLOR AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK STEPHEN G. WOOD AIR FORCE ASSOCIATION - 1 HR/WK AIR FORCE MEMORIAL FOUNDATION - 1 HR/WK AFA VETERAN BENEFITS ASSOCIATION - 1 HR/WK MICHAEL M. DUNN AIR FORCE ASSOCIATION - 40 HRS/WK AIR FORCE MEMORIAL FOUNDATION - 2 HRS/WK AFA VETERAN BENEFITS ASSOCIATION - 8 HR/WK DAVID BUCKWALTER AIR FORCE ASSOCIATION - 40 HRS/WK AIR FORCE MEMORIAL FOUNDATION - 2 HRS/WK AFA VETERAN BENEFITS ASSOCIATION - 8 HRS/WK WILLIAM J. COX AIR FORCE ASSOCIATION - 29 HRS/WK AIR FORCE MEMORIAL FOUNDATION - 11 HRS/WK LAUREN BRICE AIR FORCE ASSOCIATION - 28 HRS/WK AFA VETERAN BENEFITS ASSOCIATION - 12 HRS/WK KATHY SNODGRASS AIR FORCE ASSOCIATION - 20 HRS/WK AFA VETERAN BENEFITS ASSOCIATION - 20 HRS/WK CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,689,925. CHANGE IN PENSION LIABILITY -5,798,612. IN KIND CONTRIBUTIONS 27,911. TOTAL TO FORM 990, PART XI, LINE 5: -7,460,626. VALUATION METHOD SCHEDULE R, PART V, LINE 2 M - ALLOCATED PORTION BASED ON USE N - ALLOCATED PORTION BASED ON TIME SPENT BY EMPLOYEES Q - VALUE OF INCOME COLLECTED ON BEHALF OF AFA VETERAN BENEFITS ASSOCIATION (PASS-THROUGH) P - ACTUAL COSTS PAID ON BEHALF OF AFA VETERAN BENEFITS ASSOCIATION AFA VETERAN BENEFITS ASSOCIATION 1501 LEE HIGHWAY ARLINGTON VA 22209 530177555 TO PROVIDE VETERAN BENEFITS VA 501(C)(19) AIR FORCE ASSOCIATION 1 AIR FORCE MEMORIAL FOUNDATION 1501 LEE HIGHWAY ARLINGTON VA 22209 541629975 STEWARDSHIP OF MEMORIAL VA 501(C)(3) 7 AIR FORCE ASSOCIATION 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 AFA VETERAN BENEFITS ASSOCIATION M 599093 BOOK VALUE AFA VETERAN BENEFITS ASSOCIATION N 154961 BOOK VALUE AFA VETERAN BENEFITS ASSOCIATION P 2989194 BOOK VALUE BOOK VALUE AIR FORCE MEMORIAL FOUNDATION P 212017 BOOK VALUE AIR FORCE MEMORIAL FOUNDATION N 54515 BOOK VALUE