2011-07-21T04:27:58-05:00 2010-12-31 BBD LLP 1835 MARKET STREET 26TH FLOOR PHILADELPHIA PA 19103 990 2010-01-01 510325362 DELAWARE AEROSPACE EDUCATION FOUNDATION DELA 3028341369 5 ESSEX DRIVE BEAR DE 197011602 DR STEPHANIE M G WRIGHT EDD 3028341369 2011-07-21 1 MARIANNE MAK 2155677770 2010 2016-02-24 21:20:13Z DR STEPHANIE M G WRIGH 5 ESSEX DRIVE BEAR DE 197011602 471900 0 X WWW.DASEF.ORG X 1990 DE SEE PAGE 2, PART III, STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS 17 12 61 80 0 0 901327 338597 125043 129850 15908 3070 337 383 1042615 471900 11575 10425 0 0 88720 97218 0 0 1900 220886 239091 321181 346734 721434 125166 10274363 10408788 61139 68741 10213224 10340047 X TO INSPIRE AND EDUCATE THE PEOPLE OF THE DELAWARE VALLEY IN LEARNING ABOUT THE EARTH'S ENVIRONMENT, SPACE SCIENCE, MATHEMATICS AND TECHNOLOGY THROUGH THE USE OF ACADEMIES, PRESENTATIONS, SYMPOSIUMS, PROFESSIONAL DEVELOPMENT, EVENTS AND ACTIVITIES AND THE RESOURCES OF THE ORGANIZATION'S EDUCATIONAL AND RECREATIONAL FACILITIES. 0 0 313172 10425 129850 PROVIDES INNOVATIVE AND CHALLENGING EDUCATIONAL EXPERIENCES THROUGH ITS SPONSORSHIP OF THE DELAWARE AEROSPACE ACADEMY, ROCKETS FOR SCIENCE PROGRAM, LAUNCHING A DREAM PROGRAM AND OTHER PROGRAMS TO YOUNG PEOPLE AND TEACHERS IN THE STATE OF DELAWARE. DASEF IS IN THE MIDST OF A CAPITAL CAMPAIGN TO CONSTRUCT A UNIQUE FACILITY IN KENT COUNTY, DELAWARE THAT WILL EMBODY RESPONSIBLE USE OF TECHONOLOGY, ALONG WITH A STEWARDSHIP OF OUR PLANET AND ITS RESOURCES. AS OF DECEMBER 31, 2010, $9,625,462 HAS BEEN CAPITALIZED INTO THE PROJECT OF WHICH $8,255,292 IS CONSTRUCTION-IN-PROCESS AND $1,370,170 RELATED TO THE ENVIRONMENTAL OUTPOST WHICH WAS BEEN PLACED INTO SERVICE. 313172 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 61 1 0 0 0 0 0 0 0 0 0 0 X 17 12 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X PRESIDENT AND CEO 3028341369 5 ESSEX DRIVE BEAR DE 197011602 STEPHANIE MGWRIGHT EDD 20.00 X X 19000 0 0 GARY P BELL 0.50 X 0 0 0 TERESA A CONNOR 0.50 X 695 0 0 MSGT BRYAN FORD 0.30 X 625 0 0 MITCHELL D HOUSER 0.30 X 0 0 0 JEAN M KRAEUTER 0.30 X 0 0 0 CLINTON S LAIRD 0.50 X 0 0 0 ANTHONY W LORUSSO 0.30 X 0 0 0 MARK E MAJERUS 0.30 X 0 0 0 WILLIAM O MCCABE 0.40 X 0 0 0 CHARLIE MICHELS 0.30 X 0 0 0 MARC W SHEFFLER 0.30 X 0 0 0 BONNIE L SMITH 0.30 X 0 0 0 PHILIP M SPAMPINATO 0.30 X 0 0 0 MARGUERITE E VAVALLA 0.30 X 0 0 0 RICHARD E WATERHOUSE 8.00 X 7095 0 0 BRIAN H WRIGHT FINANCIAL 4.00 X X 7000 0 0 34415 0 0 0 0 0 0 BANCROFT CONSTRUCTION INC 1300 N GRANT AVENUE STE 110 WILMINGTON DE 19806 CONSTRUCTION MGMT 887415 CHARLES PARKS STUDIOS 44 BANCROFT MILLS WILMINGTON DE 19806 SCULPTOR 250000 JOSEPH T FARINA AIA 378 SOUTHBANK ROAD LANDERBERG PA 19350 ARCHITECTURAL 138137 3 10697 99249 228651 51352 338597 TUITION 900099 126668 126668 EDUCATION PROGRAMS 900099 3182 3182 129850 3070 3070 OTHERS 900099 383 383 383 471900 129850 0 3453 10425 10425 34415 25215 7300 1900 55973 55973 6830 6830 3560 3560 9441 9441 13663 7757 5906 99257 99257 3070 3070 59262 53336 5926 25698 23128 2570 PROGRAM SUPPLIES 18740 18740 PROFESSIONAL FEES 6400 6400 346734 313172 31662 1900 29657 51789 1349120 428597 416723 41500 10256116 385085 8464649 9871031 2085 2157 12129 13714 10274363 10408788 61139 68741 61139 68741 X 8892017 10265002 1321207 75045 10213224 10340047 10274363 10408788 X 125166 1657 X 0 1 1 X 1 1 X 1585725 244557 575993 901327 338597 3646199 3000 3000 3000 3000 3000 15000 1588725 247557 578993 904327 341597 3661199 560288 3100911 20670 22168 7411 15908 3070 69227 482 2022 9137 337 383 12361 3742787 665930 0.82850 0.85620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9625462 136819 9488643 278212 221932 56280 352442 26334 326108 9871031 471900 346734 125166 72 1585 1657 126823 518590 72 45033 1585 46690 471900 0 471900 391767 45033 45033 346734 0 346734 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: UNCERTAIN TAX POSITION UNDER FIN 48 DASEF BELIEVES THAT IT HAD NO UNCERTAIN TAX POSITIONS AS DEFINED IN FIN 48 AND, AS A RESULT, THE ADOPTION OF FIN 48 HAD NO IMPACT ON DASEF'S FINANCIAL STATEMENTS. PART XI, LINE 8 - OTHER ADJUSTMENTS: INCREASE IN BENEFICIAL INTEREST IN NET ASSETS HELD BY COMMUNITY FOUNDATION 1,585. PART XII, LINE 2D - OTHER ADJUSTMENTS: INCREASE IN BENEFICIAL INTEREST IN NET ASSETS HELD BY COMMUNITY FOUNDATION 1,585. 1 SCHOLARSHIPS TO CHILDREN WITH FINANCIAL NEEDS 49 10425 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS FUNDS ARE RECEIVED DIRECTLY BY DASEF AND AWARDED TO PARTICIPANTS IN THE DELAWARE AEROSPACE ACADEMY BY THE CEO BASED UPON FINANICAL NEEDS OR DONOR RESTRICTIONS. X CAPITALIZED LABOR COST 1 37008 FMV X DONATE EQUIPMENT 1 24344 FMV 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 RELATIONSHIP AMONG BOARD MEMBERS DR. STEPHANIE M. G. WRIGHT AND BRIAN WRIGHT HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 CHANGES TO ORGANIZATIONAL DOCUMENTS IN RESPONSE TO DASEF BEING IDENTIFIED AS A GROWING ORGANIZATION, THE BOARD OF DIRECTORS AND MANAGEMENT SUBSTANTIALLY REVISED ITS BY-LAWS WHICH WERE UNANIMOUSLY RATIFIED BY THE BOARD OF DIRECTORS AT ITS MARCH 24, 2010 MEETING. A COPY OF THE REVISED BY-LAWS, EFFECTIVE JULY 1, 2010, CAN BE OBTAINED BY WRITTEN REQUEST. FORM 990, PART VI, SECTION B, LINE 11 GOVERNING BODY REVIEW OF FORM 990 PRIOR TO FILING WITH THE IRS, A COPY OF FORM 990 IS PROVIDED TO EACH VOTING MEMBER OF THE GOVERNING BOARD FOR REVIEW. THE BOARD MEMBERS MAY COMMENT ON ANY PROPOSED CHANGES OR SUGGESTIONS TO MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT OF CONFLICTS POLICY ANY MEMBER OF THE BOARD OF DIRECTORS OR MANAGEMENT WHO HAS A FINANCIAL, PERSONAL, OR OFFICIAL INTEREST IN OR CONFLICT (OR APPEARANCE OF CONFLICT) WITH ANY MATTER PENDING BEFORE THE BOARD, OF SUCH NATURE THAT IT PREVENTS OR MAY PREVENT THAT MEMBER FROM ACTING ON THE MATTER IN AN IMPARTIAL MANNER, WILL OFFER TO VOLUNTARILY EXCUSE HIM/HERSELF AND WILL REFRAIN FROM DISCUSSION AND/OR VOTING ON SAID ITEM OR ISSUE. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION A FORMAL BOARD ACTION IS PERFORMED ANNUALLY TO APPROVE SALARY LEVELS FOR BOARD MEMBERS SERVING IN THE CAPACITY AS AN EMPLOYEE DURING THE YEAR. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF OTHER DOCUMENTS FORM 990 IS POSTED ON WWW.GUIDESTAR.ORG. GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 72. INCREASE IN BENEFICIAL INTEREST IN NET ASSETS HELD BY COMMUNITY FOUNDATION 1,585. TOTAL TO FORM 990, PART XI, LINE 5: 1,657. FORM 990, PART VII, COMPENSATION TO OFFICER AND BOARD MEMBERS ALL SALARIES PAID TO OFFICERS AND BOARD MEMBERS ARE FOR PROGRAM RELATED ACTIVITIES: [1] STEPHANIE M. G. WRIGHT (PRESIDENT AND CEO) IS PAID FOR MANAGING ALL PROGRAMS OF DASEF AND TO BE THE PRINCIPAL INVESTIGATOR FOR THE GRANT WITH NASA; [2] BRIAN H. WRIGHT (BOARD MEMBER AND FINANCIAL MANAGER) IS PAID FOR ASSISTING WITH PROGRAM OPERATIONS AND MAINTAINING THE BOOKS OF DASEF; [3] RICHARD E. WATHERHOUSE (BOARD MEMBER) IS PAID ON ON HOURLY BASIS FOR WRITING CURRICULUM FOR DASEF'S PROGRAMS; [4] TERESA A. CONNOR (BOARD MEMBER) IS PAID TO TEACH AT THE DELAWARE AEROSPACE ACADEMY AND TO HANDLE ALL ROCKETRY RELATED ACTIVITIES. [5] MSGT BRYAN FORD (BOARD MEMBER) IS PAID TO TEACH AT THE DELAWARE AEROSPACE ACADEMY.