The Aed Foundation INC FY2020 filing

Tax-deductible

Schaumburg, IL501(c)(3)EducationEIN 36-3784945Revenue $1.0M in FY2020

On file with the IRSaedfoundation.org650 E Algonquin Rd Ste 305, 60173-3853 · Schaumburg, ILTax-exempt since Jan 1992Publicly supported charity — 170(b)(1)(A)(vi)

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The Aed Foundation enhances the success of Aed member companies by encouraging continuous learning, providing educational opportunities for today's employees and improving the quantity and quality of available employees for the future.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.4M a year · 48% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 8.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $527K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$173K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
Spent
$904K
To programs
63%
Net assets
$3.4M
By yearFY2020–FY2024
Revenue
$1.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$2.2M
FY2022$4.1M
FY2023$4.3M
FY2024$3.2M
Expenses
$904K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$904K
FY2021$1.2M
FY2022$1.5M
FY2023$1.9M
FY2024$2.2M
Net assets
$3.4M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$3.4M
FY2021$4.6M
FY2022$6.7M
FY2023$9.4M
FY2024$10.8M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1992.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $569K Management & general 37% · $336K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Imm Past Chairman
$0Pt VII · Sec A
Aed Representative
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Aed Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Boosts member companies' success through continuous learning and employee development.

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Provided by the organization

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2 programs · $569K · in their own filed words · FY2020
01

Image Building

Image building is a function of workforce development and includes the AEDCAREERS.COM student recruitment website, recruitment tools offered to dealers on AEDWORKFORCE.COM, and inter-organizational coalitions geared toward increasing awareness and interest in construction related careers.

$437Kprogram expense
02

The aed foundation provided management level educational seminars and webinars for industry employees to improve their professional skills and leadership abilities in areas including sales, rental, customer management, finance, parts, service, product support, human resources and branch management.

$132Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$527K
See all 3 funders →
Grants paid · 4 grants · $269K · 2020–2023
Unitemized GrantFY2023$31,711
Unitemized GrantFY2022$147,268
Unitemized GrantFY2021$84,000
Unitemized GrantFY2020$6,263

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.0M
Ln 12
Gifts and grantsLn 1h$573K
Fees for servicesLn 2g$248K
Other incomeLn 4–11$210K
Money outPt IX
$904K
Ln 25
Programscol B$569K
Managementcol C$336K
Owns and owesPt X
$3.4M
net assets · Ln 32
Cash and savingsLn 1–2$671K
Total assetsLn 16$3.5M
LiabilitiesLn 26$173K
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$573K
Fees for servicesLn 2g$248K
Investment incomeLn 3$76K
Other incomeLn 4–11$210K
Gains on assetsLn 7−$87K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$523K
SavingsLn 2$147K
Cash and savings togetherLn 1–2$671K
InvestmentsLn 11–13$2.8M
Land, buildings, equipmentLn 10c$36K
Total assetsLn 16$3.5M
LiabilitiesLn 26$173K
Net assetsLn 32$3.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 623
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$386K$671K
InvestmentsLn 11–13$2.6M$2.8M
Land, buildings, equipmentLn 10c$63K$36K
Total assetsLn 16$3.2M$3.5M
LiabilitiesLn 26$184K$173K
Net assetsLn 32$3.0M$3.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$6K$6K
Other salaries and wagesLn 7$418K$366K$52K
Pension plan contributionsLn 8$37K$33K$5K
Other employee benefitsLn 9$35K$35K
Payroll taxesLn 10$18K$16K$2K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$10K$10K
Investment management feesLn 11f$16K$16K
Other fees for servicesLn 11g$62K$62K
Office expensesLn 13$25K$7K$18K
Information technologyLn 14$60K$60K
OccupancyLn 16$29K$29K
TravelLn 17$17K$17K
Conferences, conventions and meetingsLn 19$49K$49K
Depreciation, depletion and amortizationLn 22$41K$41K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$68K$30K$38K
Total functional expensesLn 25$904K$569K$336K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.2M$2.2M$994K$10.8M 990 PDF
FY2023 $4.3M$1.9M$2.4M$9.4M 990 PDF
FY2022 $4.1M$1.5M$2.6M$6.7M 990 PDF
FY2021 $2.2M$1.2M$986K$4.6M 990 PDF
FY2020 Viewing $1.0M$904K$126K$3.4M 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
See the full FY2020 990 (6 parts)
Part I · Summary $1,030,329 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $445,051$572,890
I-9 Program service revenuePrior year $395,642$247,880
I-10 Investment incomePrior year $89,039−$10,941
I-11 Other revenuePrior year $123,211$220,500
I-12 Total revenuePrior year $1,052,943$1,030,329
I-13 Grants and similar amounts paidPrior year $6,000$6,263
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $473,313$507,589
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $498,514$390,397
I-18 Total expensesPrior year $977,827$904,249
I-19 Revenue less expensesPrior year $75,116$126,080
Part VI · Governance 19 of 19 board members independent, no flags
VI-1a Voting members of the governing body19
VI-1b Independent voting members19
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,030,329 across 7 lines filed
VIII-1f All other contributions, gifts and grants$572,890
VIII-1h Total contributions, gifts and grants$572,890
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $247,880$247,880
VIII-3 Investment incomeExcluded from tax $76,331$76,331
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$87,272−$87,272
VIII-8 Net income from fundraising eventsExcluded from tax $220,500$220,500
VIII-12 Total revenueRelated to mission $247,880 · Unrelated business $0 · Excluded from tax $209,559$1,030,329
Part IX · Statement of functional expenses $904,249 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $6,263$6,263
IX-7 Other salaries and wagesPrograms $365,782 · Management $52,311$418,093
IX-8 Pension plan contributionsPrograms $32,622 · Management $4,665$37,287
IX-9 Other employee benefitsManagement $34,516$34,516
IX-10 Payroll taxesPrograms $15,777 · Management $1,916$17,693
IX-11b Legal feesManagement $2,039$2,039
IX-11c Accounting feesManagement $10,200$10,200
IX-11f Investment management feesManagement $15,627$15,627
IX-11g Other fees for servicesPrograms $62,455$62,455
IX-13 Office expensesPrograms $6,888 · Management $18,073$24,961
IX-14 Information technologyManagement $59,578$59,578
IX-16 OccupancyManagement $29,404$29,404
IX-17 TravelManagement $17,285$17,285
IX-19 Conferences, conventions and meetingsPrograms $49,353$49,353
IX-22 Depreciation, depletion and amortizationManagement $41,437$41,437
IX-23 InsuranceManagement $10,036$10,036
IX-24 Other expenses (24a–d)Programs $29,522 · Management $38,500$68,022
IX-25 Total functional expensesPrograms $568,662 · Management $335,587 · Fundraising $0$904,249
Part X · Balance sheet $3,529,121 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $234,153$523,334
X-2 Savings and temporary cash investmentsStart of year $152,149$147,219
X-4 Accounts receivableStart of year $137,705$44,050
X-9 Prepaid expenses and deferred chargesStart of year $32,843$5,935
X-10c Land, buildings and equipment, netStart of year $62,657$35,932
X-11 Publicly traded securitiesStart of year $2,552,965$2,772,651
X-16 Total assetsStart of year $3,172,472$3,529,121
X-17 Accounts payable and accrued expensesStart of year $12,511$9,511
X-19 Deferred revenueStart of year $171,275$68,220
X-24 Unsecured notes and loans payable$95,300
X-26 Total liabilitiesStart of year $183,786$173,031
X-27 Net assets without donor restrictionsStart of year $2,877,586$3,048,790
X-28 Net assets with donor restrictionsStart of year $111,100$307,300
X-32 Total net assets or fund balancesStart of year $2,988,686$3,356,090
X-33 Total liabilities and net assetsStart of year $3,172,472$3,529,121
Part XI · Reconciliation of net assets $3,356,090 net assets at year end
XI-1 Total revenue$1,030,329
XI-2 Total expenses$904,249
XI-3 Revenue less expenses$126,080
XI-4 Net assets at start of year$2,988,686
XI-5 Net unrealized gains (losses) on investments$241,324
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,356,090

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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