FRIENDS OF THE AIR FORCE ACADEMY L… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1987

Legal Domicile

Principal Officer

Erlind G Royer

Tax Period

2024-07-01 to 2025-06-30

FRIENDS OF THE AIR FORCE ACADEMY LIBRARY, founded in 1987, is a micro nonprofit that reported $16K in total revenue in fiscal year 2024. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $92K exceeded revenue, resulting in a 488% operating deficit.

Mission

To enhance the quality of the Academy's McDermott library, enabling it to acquire materials, pursue projects, and broaden its scope of activities beyond those made possible by Air Force allocated funds.

Program Service Accomplishments

Program 1

Expenses: $67,210 Revenue: $0

The USAF Academy's McDermott Library has benefited by the organization's efforts in collection, preservation, conservation, and documentation of pertinent historical documents, audio-visual...

The USAF Academy's McDermott Library has benefited by the organization's efforts in collection, preservation, conservation, and documentation of pertinent historical documents, audio-visual materials, photographs, and artifacts, as well as purchase of books and artifacts. Specifically, the organization has identified and restored fragile audio and visual media found in the library, helped digitize archival materials and established a dedicated facility for such materials within special collections. We have developed, edited, and uploaded finding aids to the library's searchable database, making many collections now searchable online. In addition, the organization solicited, received, processed, and gifted to the McDermott Library several valuable historical collections, updated a complete set of guidelines for all phases of access, digitizing, archiving, and producing searchable finding aids for donated collections. The organization's website has been updated and reflects current content. And finally, the organization awarded one Clark-Yudkin Research Fellowship to a scholar who used the special collections.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $15,561

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $15,561

Expense Breakdown

Grants Paid $3,600

Salaries & Benefits $0

Fundraising Expenses $1,779

Program Expenses $67,210

Other Expenses $87,914

TOTAL EXPENSES $91,514

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,561	$27,438	-0.4%
Expenses	$91,514	$162,336	-0.4%
Net Income	$-75,953	$-134,898	-0.4%

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

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Erlind Royer	President	8	Officer Director	$0	$0	$0
James Head	Secretary	6	Officer Director	$0	$0	$0
John Andrew	Vice President	3	Officer Director	$0	$0	$0
Katherine Wilson	Treasurer	6	Officer Director	$0	$0	$0
Albert Batten	Director	1	Director	$0	$0	$0
Steve Green	Director	0.15	Director	$0	$0	$0
Steve Simon	Director	0.5	Director	$0	$0	$0
James Titus	Director	0.15	Director	$0	$0	$0
Philip Caine	Director	0.15	Director	$0	$0	$0
Richard Lemp	Director	1.5	Director	$0	$0	$0
Paul Pirog	Director	0.5	Director	$0	$0	$0
Stephen Randolph	Director	0.10	Director	$0	$0	$0
Carolyn Seely	Director	1.5	Director	$0	$0	$0
William Estelle	Director	2.11	Director	$0	$0	$0
Michael Guyote	Director	0.15	Director	$0	$0	$0
Marianne LaRivee	Director	0.15	Director	$0	$0	$0
Stephen Maffeo	Director	0.15	Director	$0	$0	$0
John Abbatiello	Director	0.15	Director	$0	$0	$0
Douglas Murray	Director	0.15	Director	$0	$0	$0
Michael Smith	Director	0.15	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
2025	$15,561	$91,514	$1,692,422	$-75,953
2024	$27,438	$162,336	$1,536,787	$-134,898
2023	$26,879	$134,400	$1,407,205	$-107,521
2022	$11,085	$121,210	$1,314,049	$-110,125
2021	$15,042	$107,954	$1,678,154	$-92,912
2020	$11,171	$114,234	$1,301,880	$-103,063
2019	$18,132	$161,496	$1,385,083	$-143,364

FRIENDS OF THE AIR FORCE ACADEMY LIBRARY