Tailhook Educational Foundation INC FY2020 filing

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EIN 33-0487778 Public charity (501(c)(3)) San Diego, CA NTEE Z99Z
Form 990 (PDF)

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Revenue & expenses by yearFY2020–FY2024
Revenue
$663K
FY2020
Expenses
$596K
FY2020

Form 990 for the fiscal year ending December 2020 (IRS tax year 2020).


Educates about Navy carrier aviation history and provides scholarships for personnel's children. For fiscal year 2020 it reported $663K in revenue, $596K in expenses, and $4.5M in net assets.Pt I

Type
Public charity (501(c)(3)) · Unclassified
Location
San Diego, CA
Website
www.tailhook.net
Filings
5 on file (2020–2020)
Revenue
$663KFY2020
Expenses
$596K
Net assets
$4.5M
People
15
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Figures match the IRS filing checked 9/4/26 · see original: IRS
Provided by the organization

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Size
$1–10M
What they do
Educates about Navy carrier aviation history and provides scholarships for personnel's children.
Leadership
Rodger Welch · Executive Director
Money in and out
$663K revenue, $596K expenses
Bottom line
89% program efficiency

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

GOOD

Yes — A charitable, religious, educational, scientific, or literary organization. Contributions are generally tax-deductible for donors.

IRS Business Master File records this organization as tax-exempt with deductible contributions. See detail →

Can I donate to this org right now?

GOOD

No revocation on IRS record

This EIN does not appear on the IRS auto-revocation list. See detail →

Is this organization up to date?

GOOD

Filed FY2024 (typical filing lag)

Most recent Form 990 on file is for fiscal year 2024 (2 years ago). See detail →

Is it receiving grants from reputable foundations?

GOOD

1 funder — Our Change Foundation

1 distinct foundation funder(s) on file, $15K received in the most recent year with grants. See detail →

How is the money spent?

GOOD

89% to programs

89% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →

What's its financial size and trend?

NEUTRAL

$1–10M

Revenue band $1–10M. Not enough years on file for a trend. See detail →

Where the money goes · FY2020
Total revenue
$663K
Pt VIII · Ln 12
Total expenses
$596K
Pt IX · Ln 25
Net assets
$4.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $67K
Where spending went · Part IX cols B–D
Program services $0.89 Management & general $0.08 Fundraising $0.03
Program efficiency
89%
of spending reaches programs
Operating runway
90.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+10%
revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2020 · Form 990
Total assets
$4.5M
FY2020
Total liabilities
$0
FY2020
Revenue less expensesPt I · Ln 19$67K
Total assetsPt X · Ln 16$4.5M
Program-expense ratioPt IX · col B89%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 413

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CTailhook Educational Foundation INC
EINHdr · item D33-0487778
Principal addressHdr · item CSan Diego, CA
WebsiteHdr · item Jwww.tailhook.net
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFUnclassified (Z99Z)
Ruling yearIRS BMFJun 1996

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$0Pt VII · Sec A
Recording Secretary
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
VP/Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023
Rodger Welch$105,000$102,660
Beth Rollins$28,386$28,563

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

2 program services account for $534K of program spending, described in the organization's own filed words · FY2020.
01

The Foundation provides educational scholarships to children and grandchildren of present and former United States Navy Carrier Aviation personnel. In 2020, over 100 individuals received scholarships ranging from 3,000-15,000.

$458Kprogram expense
02

The Foundation distributes The Hook Magazine to high schools and colleges throughout the United States at no cost to the schools. The Hook describes current and historical United States Navy Carrier operations, articles, facts, and carrier information. The Hook Magazine is published quarterly.

$76Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$510K · 77%
Investment income$152K · 23%
Contributions & grants77%$510K
Investment income23%$152K
Program service revenue$2K
Total revenueLn 12$663K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.89 Management & general $0.08 Fundraising $0.03
Program services89%$534K
Management & general8%$46K
Fundraising3%$17K
Total functional expensesLn 25$596K

Balance Sheet

Part X · end of year
CashLn 1$243K
Total assetsLn 16$4.5M
Total liabilitiesLn 26$0
Total net assetsLn 32$4.5M
Months of cash on handcomputed4.9

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $4.5M · Operating expenses/yr $596K
90.0 months
Where the money goes
Program services
Program services $534K · Total expenses $596K
89%
Management & General
Management & general $46K · Total expenses $596K
8%
Fundraising
Fundraising $17K · Total expenses $596K
3%
Cost to raise $1
Fundraising expense $17K · Solicited contributions $510K
$0.03 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $510K · Total revenue $663K
77%
Government reliance
Government grants — · Total revenue $663K
—
Earned-income share
Program service revenue $2K · Total revenue $663K
0.2%
Investment reliance
Investment income $152K · Total revenue $663K
+23%
Program self-sufficiency
Program service revenue $2K · Total expenses $596K
0.3%
Growth & trend
Revenue growth (YoY)
This year $663K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $4.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $663K · Expenses $596K
+10%
Liabilities-to-Assets
Total liabilities — · Total assets $4.5M
—
Net-asset ratio
Net assets $4.5M · Total assets $4.5M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $4.2M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $4.5M
95%
People & payroll
Highest Reported Total Compensation
Individual Rodger Welch · Reported title Executive Director · Highest reported compensation $0 · Total expenses $596K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $111K · Total expenses $596K
19%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 89%——
Overhead ratio 8%——
Fundraising cost ratio 3%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$15K
Grants paid · 5 grants · $2.3M · 2020–2024
Unitemized GrantFY2024$572,650
Unitemized GrantFY2023$504,638
Unitemized GrantFY2022$466,500
Unitemized GrantFY2021$380,500
Unitemized GrantFY2020$376,500

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$2.1M revenue · ⤓ 990 PDF
FY2023$1.0M revenue · ⤓ 990 PDF
FY2022$946K revenue · ⤓ 990 PDF
FY2021$811K revenue · ⤓ 990 PDF
FY2020$663K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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