Air Force Academy Foundation

Nonprofit profile at a glance

EIN
260537053
IRS 990 coverage
2011–2025
Forms available
Form 990 2025, Form 990-T 2025
Location
Usaf Academy, CO, USA
Phone
7194720300
Rating
74
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Private Grantmaking Foundations

Official website

Reported finances

Revenue
$35,148,270
Expenses
$17,259,528
Assets
$191,269,920
Liabilities
$5,041,266

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

67 people listed

Executive titles in this filing

  • MARK D HILLE (PRESIDENT & CEO)
  • KELLY BANET (EXECUTIVE VICE PRESIDENT OF DEVELOPMENT)
  • MEGAN MYERS (ASSISTANT VICE PRESIDENT OF DEVELOMENT)

Highest reported compensation

  • KELLY BANET (EXECUTIVE VICE PRESIDENT OF DEVELOPMENT): $302,947 total reported compensation
  • MARK D HILLE (PRESIDENT & CEO): $277,836 total reported compensation
  • KATIE WILLEMARK (CFO): $162,815 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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 on sch o).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.

What it reported doing in 2025

Association & foundation program support: grants are provided annually to the association of graduates (aog) in support of its operations to serve alumni of usafa, known as the long blue line. The aog provides a variety of programs and services to connect the long blue line to usafa, each other and current cadets who will soon join the long blue line community. These funds were largely used to decrease the cost of class reunions and support graduate engagement programs. This program also includes philanthropic support for wecker hall, the new office building for the aog and air force academy foundation staff. Paying down the bonds on hotel polaris, which will be turned over to the association & foundation upon payoff of the bonds, was also a major use of funds.

Operating model

Revenue model
Donor-supported. 90% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 76% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

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

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 92
  • Accountability: 99
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.1%; rating input score 37
  • Program expense ratio: 61.2%; rating input score 61
  • Fundraising efficiency: $9.55 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 98.3%; rating input score 98; 27th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 50.9%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 11.08; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 5.7%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 12% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 12.3% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 37.1% of revenue deployed · 61.2% of spending went to programs
  • Governance: 58 of 59 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $10.6M in reported program spending
  • Leadership: top reported pay $303K · 67 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $13.7M reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: 7 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.