Falconworks
Nonprofit profile at a glance
- EIN
- 201351869
- IRS 990-EZ coverage
- 2010–2024
- Forms available
- Form 990-EZ 2024
- Location
- Colorado Springs, CO, USA
- Phone
- 7196504103
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Family Services
Reported finances
- Revenue
- $13
- Expenses
- $378
- Assets
- $29,471
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
People named in this filing
- DUNCAN STEWART (Pres & Chairman)
- DAVID GUSTAVSSON (Director)
- SCOTT REA (SEC / TREASURER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Falconworks acts as an "innovation hub" by bringing together community needs, design and development capabilities at the u.s. Air force academy, and financing from the public and corporate sponsors. Falconworks actively solicits projects in the Colorado springs area that require scientific or engineering design work. Falconworks solicits general funds from the public and specific project financing from corporate sponsors in an effort to make prototypes available to end users. Falconworks then arranges student-led teams (with faculty oversight) at the u.s air force academy to design and develop the products. Any required materials are paid for with funds raised by falconworks. In exchange for providing the design and development labor, students at the u.s. Air force academy get to participate in real life projects that benefit the community.
What it reported doing in 2024
Initiated in 2015: neurogroove is developing a head mounted sensor driven system to allow quadraplegics to eventually drive an automobile. The first developments allow driving a wheel chair. Completed in 2019.initiated in 2019: wearable cooling system for quadriplegics with biometric controls. Completed in 2020.initiated in 2020 and continuing through 2025: gaze tracking system for severe quadriplegics with no neck control to use eye gaze only to maneuver their wheelchair and control a robotic arm.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- Distribution model
- Direct operator. The filing allocates 100% 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.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 82
- Sustainability: 36
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -2,807.7%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 77.97; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -6.8% per year; rating input score 0; 32nd percentile among comparable filings
- Revenue growth: -8.1% per year; rating input score 0; 27th percentile among comparable filings
- Asset growth: 11.3% per year; rating input score 100; 75th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $378 in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 2 filed schedules
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- 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.
- High — Sustainability: Operating margin scored 1/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.