Academy Research and Development Institute

Nonprofit profile at a glance

EIN
742378230
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Colorado Springs, CO, USA
Phone
7195991370
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$4,198,912
Expenses
$2,464,893
Assets
$56,457,172
Liabilities
$31,080

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Christopher D Miller (CEO)

Highest reported compensation

  • Michael Erdle (Chairman): $255,985 total reported compensation
  • Dana Montgomery (COO): $176,421 total reported compensation
  • Terry Erdle (Treasurer): $60,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

ARDI stewards donated endowments to sustain future American air and space power, enhancing faculty quality and cadet education at the United States Air Force Academy.

What it reported doing in 2024

ARDI's primary program service fostered excellence at the United States Air Force Academy (USAFA) by supporting distinctive academic programs, directed by Academy leadership, that enhance the faculty and cadet experience with quality and activities above and beyond what US Government resources provide. ARDI's weight of effort funded Endowed Professor chairs in selected disciplines, including astronautics, aeronautics, computer and cyber sciences, economics, foreign languages and cultures, political science, philosophy and ethics, and others. In addition, ARDI supported Academy cadet research and other educational activities that provide breadth and depth beyond the baseline Academy experience to motivate, inspire, and better prepare Academy graduates to serve and lead in the Air Force and Space Force.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 69
  • Accountability: 67
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.6%; rating input score 90
  • Fundraising efficiency: $13.15 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 84.4%; rating input score 84; 23rd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 42.9%; rating input score 43; 7th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 41.3%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 22.9; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 9.5%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 11.5% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.6% of spending went to programs
  • Governance: 3 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $256K · 7 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $824K reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Independent voting board scored 43/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.