Industrial College of the Armed Forces

EIN: 526042256 501(c)(3)

Springfield, VA

Total Revenue
$-10,074
Total Expenses
$20,860
Total Assets
$781,242
Net Assets
$781,149
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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
DC
Principal Officer
John R Sperling
Tax Period
2023-01-01 to 2023-12-31

Industrial College of the Armed Forces, founded in 1980, is a micro nonprofit that reported $50K in total revenue in fiscal year 2018. Revenue decreased 15% compared to the prior year. Expenses of $56K exceeded revenue, resulting in a 12% operating deficit.

Mission

EDUCATION, PROMOTION OF WELFARE, AND ENHANCEMENT OF THE EDUCATIONAL PROGRAM OF THE INDUSTRIAL COLLEGE

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $6,749
Program Service Revenue $0
Investment Income $0
Other Revenue $-16,823
TOTAL REVENUE $-10,074

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,635
Fundraising Expenses $0
Program Expenses $8,178
Other Expenses $17,225
TOTAL EXPENSES $20,860

Year-over-Year Comparison

2023 2022 Change
Revenue $-10,074 $50,735 -1.2%
Expenses $20,860 $37,647 -0.4%
Net Income $-30,934 $13,088 -3.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
12
Independent Members
12
Employees
2
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John R Sperling President 008.00
Officer Director
$0 $0 $0
Marc Halyard 1st Vice President 005.00
Officer Director
$0 $0 $0
Dr William J Mea 2nd Vice President 002.00
Officer Director
$0 $0 $0
Col Samuel Glover Jr Ways and Means Chair 002.00
Officer Director
$0 $0 $0
Col Christopher Warner Activities Chair 002.00
Officer Director
$0 $0 $0
Billy Starkey Industry Rep 002.00
Director
$0 $0 $0
Kevin Mahoney Activities 002.00
Director
$0 $0 $0
John Bailey Class of 2020 President 002.00
Director
$0 $0 $0
Mike Oshiki Class of 2019 Rep 002.00
Director
$0 $0 $0
Col Augusto Casado Class of 2018 Rep 002.00
Director
$0 $0 $0
Capt Chuck Herbert Class of 2017 Rep 002.00
Director
$0 $0 $0
Dr Paul Severence Secretary/Exec Director 040.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $-10,074 $20,860 $781,242 $-30,934
2022 $50,735 $37,647 $897,540 $13,088
2021 $50,277 $50,245 $883,193 $32
2020 $90,906 $19,612 $862,791 $71,294
2019 $29,428 $34,570 $748,804 $-5,142
2018 $49,577 $55,770 $667,943 $-6,193
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