PALMDALE AEROSPACE ACADEMY FOUNDAT… - 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

2015

Legal Domicile

Principal Officer

BOARD PRESIDENT

Phone

6612733680

Tax Period

2023-07-01 to 2024-06-30

PALMDALE AEROSPACE ACADEMY FOUNDATION, founded in 2015, is a community nonprofit in the Education sector that reported $5.4M in total revenue in fiscal year 2023.

Mission

TO PROVIDE SUPPORT TO THE PALMDALE AEROSPACE ACADEMY.

Program Service Accomplishments

Program 1

Expenses: $5,672,479 Revenue: $5,449,281

THE SPECIFIC PURPOSE OF THE FOUNDATION IS TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE PALMDALE AEROSPACE ACADEMY, INC., A CALIFORNIA...

THE SPECIFIC PURPOSE OF THE FOUNDATION IS TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE PALMDALE AEROSPACE ACADEMY, INC., A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION OPERATING AS A PUBLIC CHARTER SCHOOL. THE FOUNDATION, THROUGH ITS LLC, HOLDS DEBT ASSOCIATED WITH SCHOOL FACILITIES THAT ARE IN TURN LEASED TO THE PUBLIC CHARTER SCHOOL TO DIRECTLY BENEFIT SCHOOL OPERATIONS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,449,281

Investment Income $-10,482

Other Revenue $0

TOTAL REVENUE $5,438,799

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $5,672,479

Other Expenses $5,760,144

TOTAL EXPENSES $5,760,144

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,438,799	$5,512,956	0.0%
Expenses	$5,760,144	$4,341,706	+0.3%
Net Income	$-321,345	$1,171,250	-1.3%

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
KATHLEEN DUREN	PRESIDENT	0.25	Officer Director	$0	$0	$0
MARK WEISS	CFO/TREASURER	0.25	Officer Director	$0	$0	$0
DAVID LUJAN	SECREATARY	0.25	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
2025	No data	No data	No data	No data
2024	$5,438,799	$5,760,144	$84,893,217	$-321,345
2023	$5,512,956	$4,341,706	$85,434,568	$1,171,250
2022	$5,473,109	$4,347,629	$84,559,288	$1,125,480
2021	$5,276,266	$4,638,071	$85,050,915	$638,195
2020	$5,538,779	$3,630,003	$86,056,705	$1,908,776
2019	$3,476,788	$3,498,604	$88,373,399	$-21,816
2018	$3,028,510	$3,469,259	$46,537,834	$-440,749

PALMDALE AEROSPACE ACADEMY FOUNDATION