Tailhook Educational Foundation INC FY2023 filing

San Diego, CA · Public charity (501(c)(3)) · Unclassified

✓ Tax-deductible Latest data FY2023
Revenue
$1.0M
▲ +7% vs prior year
Spent
$801K
To programs
93%
Net assets
$5.1M
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Form 990 for the fiscal year ending December 2023 (IRS tax year 2023).

Figures match the IRS filing checked 9/4/26 · see original: IRS

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
1 funder — Our Change Foundation
$15K in the latest grant year.
Spent on programs?
93% to programs
Form 990 Part IX, latest filing.
Size and trend
$1–10M
↑ +7% vs prior year
Legal name (IRS)Hdr · item CTailhook Educational Foundation INC
EINHdr · item D33-0487778
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 1996
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CSan Diego, CA
NTEE classificationIRS BMFUnclassified (Z99Z)
WebsiteHdr · item Jwww.tailhook.net

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.93 Management & general $0.04 Fundraising $0.03
Program services93%$745K
Management & general4%$31K
Fundraising3%$25K
Total functional expensesLn 25$801K

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$1.0M
FY2023▲ +7%
Expenses
$801K
FY2023▲ +6%
Program efficiency
93%
of spending reaches programs
Operating runway
76.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
+21%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$5.1M
FY2023▲ +17%
Total liabilities
$55K
FY2023
Revenue less expensesPt I · Ln 19$209K
Total assetsPt X · Ln 16$5.1M
Program-expense ratioPt IX · col B93%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Balance Sheet

Part X · end of year
CashLn 1$464K
Total assetsLn 16$5.1M
Total liabilitiesLn 26$55K
Total net assetsLn 32$5.1M
Months of cash on handcomputed6.9

Statement of Revenue

Part VIII
Contributions & grants$863K · 85%
Investment income$147K · 15%
Contributions & grants85%$863K
Investment income15%$147K
Program service revenue$285
Total revenueLn 12$1.0M

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5.1M · Operating expenses/yr $801K
76.6 months
Where the money goes
Program services
Program services $745K · Total expenses $801K
93%
Management & General
Management & general $31K · Total expenses $801K
4%
Fundraising
Fundraising $25K · Total expenses $801K
3%
Cost to raise $1
Fundraising expense (3-yr avg) $25K · Solicited contributions (3-yr avg) $762K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $863K · Total revenue $1.0M
85%
Government reliance
Government grants — · Total revenue $1.0M
—
Earned-income share
Program service revenue $285 · Total revenue $1.0M
0.03%
Investment reliance
Investment income $147K · Total revenue $1.0M
+15%
Program self-sufficiency
Program service revenue $285 · Total expenses $801K
0.04%
Growth & trend
Revenue growth (YoY)
This year $1.0M · Prior year $946K
+7%
Net-asset trend (YoY)
End of year $5.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.0M · Expenses $801K
+21%
Liabilities-to-Assets
Total liabilities — · Total assets $5.1M
—
Net-asset ratio
Net assets $5.1M · Total assets $5.1M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $4.7M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.1M
91%
People & payroll
Highest Reported Total Compensation
Individual Rodger Welch · Reported title Executive Director · Highest reported compensation $103K · Total expenses $801K
13%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $150K · Total expenses $801K
19%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 93%——
Overhead ratio 4%——
Fundraising cost ratio 3%——
Revenue growth 7%——
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.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$102,660Pt VII · Sec A
Recording Secretary
$28,563Pt VII · Sec A
Chairman
$0Pt VII · Sec A
VP/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$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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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
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

Mission and programs

Educates about Navy carrier aviation history and provides scholarships for personnel's children.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $745K of program spending, described in the organization's own filed words · FY2023.
01

The Foundation provides educational scholarships to children and grandchildren of present and former United States Navy Carrier Aviation personnel. In 2021, over 100 individuals received scholarships ranging from 3,000-15,000.

$745Kprogram expense

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Funders

From grant filings on record. Receipts are incomplete: individual donors are never listed.

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

Filing history

YearRevenueExpensesChangeFiling
FY2024 Latest $2.1M$1.1M+110% 990 PDF
FY2023 Viewing $1.0M$801K+7% 990 PDF
FY2022 $946K$755K+17% 990 PDF
FY2021 $811K$640K+22% 990 PDF
FY2020 $663K$596K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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