UND Aerospace Foundation

Nonprofit profile at a glance

EIN
450390485
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Grand Forks, ND, USA
Phone
7017774740
Rating
77
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Single Organization Support

Official website

Reported finances

Revenue
$43,834,481
Expenses
$29,581,466
Assets
$122,981,561
Liabilities
$14,275,343

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Charles Pineo (Chief Executive Officer)
  • Robert Kraus (President)
  • Dana Sande (Vice President of Business)

Highest reported compensation

  • Charles Pineo (Chief Executive Officer): $453,094 total reported compensation
  • Dana Sande (Vice President of Business): $347,736 total reported compensation
  • Robert Kraus (President): $347,326 total reported compensation

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

Overview

Mission

To support the functions of, and to assist in carrying out the purposes of, the John D. Odegard School of Aerospace Sciences of the University of North Dakota.

What it reported doing in 2024

The UND Aerospace Foundation (The Foundation) is a North Dakota nonprofit organization organized to encourage and develop the University of North Dakota's (UND) John D. Odegard School of Aerospace Sciences. The Foundation's principal activities consist of developing and conducting training programs, research and development, and consulting services related to the aerospace industry. The Foundation's principal activities are in Grand Forks, ND, with a second flight training center located in Mesa, AZ. Aviation training - classroom, flight training, and support services delivered to pilot students at Grand Forks campus, with 13,669 flight training hours during the year.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% 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

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 83
  • Accountability: 94
  • Sustainability: 80
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.8%; rating input score 59
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: $27.69 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 21st 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: 32.5%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 4.16; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: -1.9% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -0.4% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 58.8% of revenue deployed · 90% of spending went to programs
  • Governance: 8 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $26.6M in reported program spending
  • Leadership: top reported pay $453K · 15 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $101K reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 6 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.

  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.