The Falcon Foundation

EIN: 756016930 501(c)(3) Education

USAF Academy, CO

Total Revenue
$1,561,375
Total Expenses
$1,014,051
Total Assets
$37,359,903
Net Assets
$37,322,835
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1958
Legal Domicile
CO
Principal Officer
Steve Lorenz
Phone
7194722056
Tax Period
2024-07-01 to 2025-06-30

The Falcon Foundation, founded in 1958, is a community nonprofit in the Education sector that reported $1.6M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. The organization ran a surplus of $547K, a strong 35% operating margin.

Mission

TO FURTHER THE OPPORTUNITY FOR HIGHLY MOTIVATED, EXCEPTIONAL YOUNG MEN AND WOMEN TO ATTEND THE UNITED STATES AIR FORCE ACADEMY THROUGH THE AWARD OF FALCON FOUNDATION SCHOLARSHIPS

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $421,391
Program Service Revenue $0
Investment Income $1,139,984
Other Revenue $0
TOTAL REVENUE $1,561,375

Expense Breakdown

Grants Paid $631,255
Salaries & Benefits $278,648
Fundraising Expenses $0
Program Expenses $921,834
Other Expenses $104,148
TOTAL EXPENSES $1,014,051

Year-over-Year Comparison

2024 2023 Change
Revenue $1,561,375 $1,678,308 -0.1%
Expenses $1,014,051 $958,343 +0.1%
Net Income $547,324 $719,965 -0.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
13
Employees
2
Volunteers
70

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
8
$127,173
Total Directors
16
$127,173
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Steve Lorenz President & CEO 20.0
Officer Director
$127,173 $0 $127,173
Sharon Cooper Director of Op and Comptroller 40.0
Highest
$110,095 $14,184 $124,279
William Begert Chairman (To 10/2024) 1.0
Officer Director
$0 $0 $0
Robin Rand Vice Chairman 1.0
Officer Director
$0 $0 $0
Jason Herman Finance Committee Chair 1.0
Director
$0 $0 $0
Leon Johnson Nominating Committee Chair 1.0
Director
$0 $0 $0
John Dallager Compensation Committee Chair 1.0
Director
$0 $0 $0
Carolyn Benyshek Scholarship Committee Chair 1.0
Director
$0 $0 $0
Kate MacIntosh TO 052025 At Large Governing Trustee 1.0
Director
$0 $0 $0
Nicholas Wilson Audit Committee Chair 1.0
Director
$0 $0 $0
William Looney TrusteeTo 10 2024)Chairman (From 10/2024) 1.0
Officer Director
$0 $0 $0
Carrol Chandler Gov & Strat Committee Chair 1.0
Director
$0 $0 $0
Eric Holt Investment Committee Chair 1.0
Director
$0 $0 $0
Michael Moeller At Large Governing Trustee 1.0
Director
$0 $0 $0
Janet Wolfenbarger At Large Governing Trustee 1.0
Director
$0 $0 $0
Sue Ross From 102024 At Large Governing Trustee 1.0
Director
$0 $0 $0
Matthew Byrd Vice President 1.0
Officer Director
$0 $0 $0
Dale Meyerrose Treasurer 1.0
Officer
$0 $0 $0
Rita Jordan Secretary 1.0
Officer
$0 $0 $0
Jarisse Sanborn VP and General Counsel 1.0
Officer
$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 $1,561,375 $1,014,051 $37,359,903 $547,324
2024 $1,678,308 $958,343 $33,635,989 $719,965
2023 $1,362,520 $979,290 $30,097,529 $383,230
2022 $1,004,255 $868,045 $27,349,107 $136,210
2021 $1,239,304 $874,342 $32,351,100 $364,962
2020 $942,868 $921,982 $25,567,619 $20,886
2019 $827,933 $1,072,407 $25,769,450 $-244,474
2018 $839,276 $903,306 $25,193,504 $-64,030
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