Air Force Academy Foundation

Analysis

Air Force Academy Foundation is a registered charity in United States, based in Usaf Academy, CO. It received its IRS tax-exemption ruling in March 2008, 18 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Air Force Academy Foundation reported income of $40.9m and spending of $28.4m, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $30.8m to $40.9m (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 67% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Air Force Academy Foundation sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within CO. Charities of a similar size with the same main cause include Stark Community Foundation Inc ($40.8m), Better Health Foundation ($40.9m) and Kalamazoo Community Foundation ($40.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $1.1m (3.8% of expenses). Other salaries and wages came to $1.7m. It paid $288k in professional fundraising fees. At year end it held assets of $156.5m against liabilities of $14.4m, net assets of $142.1m. It reported 46 employees.