AIR & SPACE FORCES ASSOCIATION (EIN 526043929) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1956

Legal Domicile

Principal Officer

BURTON M FIELD

Phone

7032475800

Tax Period

2024-01-01 to 2024-12-31

AIR FORCE ASSOCIATION, founded in 1956, is a mid-sized nonprofit in the Education sector that reported $16.6M in total revenue in fiscal year 2018. Revenue decreased 16% compared to the prior year.

Mission

PROMOTE DOMINANT U.S. AIR & SPACE FORCES, STRONG NATIONAL DEFENSE, HONOR AIRMEN & GUARDIANS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $7,882,919

Program Service Revenue $19,150,550

Investment Income $3,728,592

Other Revenue $731,751

TOTAL REVENUE $31,493,812

Expense Breakdown

Grants Paid $380,489

Salaries & Benefits $13,981,775

Fundraising Expenses $1,758,237

Program Expenses $21,836,430

Other Expenses $12,749,346

TOTAL EXPENSES $27,603,634

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,493,812	$41,249,058	-0.2%
Expenses	$27,603,634	$25,567,774	+0.1%
Net Income	$3,890,178	$15,681,284	-0.8%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

105

Volunteers

1250

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

$1,155,545

Total Directors

Key Employees

$1,072,655

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID DEPTULA	DEAN, MITCHELL INSTITUTE	39.75	Key Emp	$499,284	$33,095	$532,379
DOUGLAS RAABERG	EXECUTIVE VICE PRESIDENT	39.75	Officer	$369,747	$34,995	$404,742
BURTON M FIELD	PRESIDENT & CEO AS OF 04/2024	39.75	Officer	$323,215	$25,158	$348,373
JOSEPH STANGL	CHIEF FINANCIAL OFFICER	39.75	Officer	$264,530	$41,207	$305,737
DOUG BIRKEY	EXEC DIR., MITCHELL INSTITUTE	39.75	Highest	$248,457	$32,183	$280,640
WILLIAM CASTLE	VP, LEGISLATIVE AFFAIRS	39.75	Highest	$248,142	$25,024	$273,166
ROBERT CLAPPER	CHIEF DEVELOPMENT OFFICER	39.75	Key Emp	$237,402	$31,714	$269,116
HEATHER PENNEY	SENIOR RESIDENT FELLOW	39.75	Highest	$229,124	$34,757	$263,881
TOBIAS NAEGELE	EDITOR IN CHIEF/VP STRATEGIC COMM	39.75	Key Emp	$227,232	$43,928	$271,160
AMANDA GRANDEL	VICE PRESIDENT STRATEGIC EVENTS	39.75	Highest	$219,721	$21,969	$241,690
CHARLES GALBREATH	SR. FELLOW SPACE STUDIES, MITCHELL INSTITUE	39.75	Highest	$210,969	$21,629	$232,598
BRUCE A WRIGHT	PRESIDENT & CEO UNTIL 03/2024	39.75	Officer	$88,285	$8,408	$96,693
BERNIE SKOCH	CHAIRMAN OF THE BOARD	27.75	Officer Director	$0	$0	$0
CHRIS CANADA	VICE CHAIRMAN OF THE BOARD	22.75	Officer Director	$0	$0	$0
STEPHEN GOURLEY	VC OF THE BOARD UNTIL 09/2024	17.75	Officer Director	$0	$0	$0
GARY COPSEY	VICE CHAIRMAN OF THE BOARD	22.75	Officer Director	$0	$0	$0
MICHAEL LIQUORI	SECRETARY UNTIL 09/2024	12.75	Officer Director	$0	$0	$0
PAUL HENDRICKS	SECRETARY AS OF 10/2024	3.75	Officer Director	$0	$0	$0
CHUCK MARTIN	TREASURER	10.75	Officer Director	$0	$0	$0
JACKIE TROTTER	NATIONAL DIR. AT LARGE UNTIL 09/2024	3.75	Director	$0	$0	$0
DOUG SLOCUM	NATIONAL DIRECTOR AT LARGE	3.75	Director	$0	$0	$0
TODD FREECE	NATIONAL DIRECTOR AT LARGE	3.75	Director	$0	$0	$0
MARK L TARPLEY	NATIONAL DIR. AT LARGE UNTIL 09/2024	3.75	Director	$0	$0	$0
DAN OHNESORGE	NATIONAL DIRECTOR AT LARGE	3.75	Director	$0	$0	$0
GABBE KEARNEY	NATIONAL DIRECTOR AT LARGE	3.75	Director	$0	$0	$0
PAUL HENDRICKS	NATIONAL DIR. AT LARGE UNTIL 09/2024	3.75	Director	$0	$0	$0
ROBIN RAND	NATIONAL DIRECTOR AT LARGE	3.75	Director	$0	$0	$0
BILL HARDING	NATIONAL DIRECTOR AT LARGE	3.75	Director	$0	$0	$0
JANELLE STAFFORD	NATIONAL DIRECTOR CENTRAL	3.75	Director	$0	$0	$0
BOBI OATES	NATIONAL DIRECTOR WEST AREA	3.75	Director	$0	$0	$0
THOMAS DEALE	NATIONAL DIRECTOR APPOINTED	3.75	Director	$0	$0	$0
KATHLEEN FERGUSON	NATIONAL DIRECTOR APPOINTED	3.75	Director	$0	$0	$0
DESRAINN STEVENS-BOUDI	NATIONAL DIRECTOR APPOINTED	3.75	Director	$0	$0	$0
DAVID GOLDFEIN	ARMED FORCE DIRECTOR	3.75	Director	$0	$0	$0
JOANNE BASS	ARMED FORCE DIRECTOR AS OF 09/2024	3.75	Director	$0	$0	$0
ROGER TOWBERMAN	ARMED FORCE DIRECTOR AS OF 09/2024	3.75	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	$31,493,812	$27,603,634	$78,090,714	$3,890,178
2023	$41,249,058	$25,567,774	$60,550,737	$15,681,284
2022	$22,788,524	$22,797,225	$44,733,276	$-8,701
2020	$19,163,734	$14,719,205	$41,846,008	$4,444,529
2019	$20,748,056	$18,582,935	$35,952,203	$2,165,121
2018	$16,554,355	$16,452,887	$32,088,463	$101,468

AIR & SPACE FORCES ASSOCIATION