To provide scholarships for students aspiring to a career in business aviation.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Run by 7 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
1 of 2
filings with a surplus
Average surplus $33K a year · 22% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
21 mo
of spending, in cash
Looks good: 20.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $56
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$99K
36% of total assets
Looks good: liabilities are 36% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$142K
-13% vs prior year
Spent
$152K
To programs
87%
Net assets
$180K
By yearFY2020–FY2024
Revenue
$142K
FY2024▼ -13%
Tap a bar for its year
Revenue by fiscal year
FY2020$80K
FY2022$149K
FY2023$164K
FY2024$142K
Expenses
$152K
FY2024▲ +74%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2022Not on file
FY2023$87K
FY2024$152K
Net assets
$180K
FY2024▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$33K
FY2022$113K
FY2023$190K
FY2024$180K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2019.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $132K Management & general 13% · $20K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
See Iada Foundation 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 15aNo

Programs and updates

Awards scholarships to students pursuing business aviation careers.

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Provided by the organization

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1 program · $132K · in their own filed words · FY2024
01

To provide scholarships for students aspiring to a career in business aviation.

$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 · FY2023
Total grants receivedfrom 1 funder$56
Grants paid · 4 grants · $188K · 2023–2024
Unitemized GrantFY2024$106,710
Sol ReliefFL · FY2024$10,412
Operation Airdrop INCTX · FY2024$10,299
Unitemized GrantFY2023$60,783

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$142K
Ln 12
Gifts and grantsLn 1h$77K
Other incomeLn 4–11$65K
Money outPt IX
$152K
Ln 25
Programscol B$132K
Managementcol C$20K
Owns and owesPt X
$180K
net assets · Ln 32
Cash and savingsLn 1–2$261K
Total assetsLn 16$279K
LiabilitiesLn 26$99K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$77K
Fundraising eventsLn 1c$35K
Other incomeLn 4–11$65K
Total revenueLn 12$142K
Assets in detailPt X, end of year
CashLn 1$261K
Cash and savings togetherLn 1–2$261K
Other assetsLn 15$4K
Total assetsLn 16$279K
LiabilitiesLn 26$99K
Net assetsLn 32$180K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$269K$261K
Total assetsLn 16$290K$279K
LiabilitiesLn 26$100K$99K
Net assetsLn 32$190K$180K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$26K$26K
Grants to domestic individualsLn 2$107K$107K
Legal feesLn 11b$130$130
Accounting feesLn 11c$12K$12K
Advertising and promotionLn 12$5K$5K
Other expenses (24a–d)Ln 24$3K$3K
Total functional expensesLn 25$152K$132K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $142K$152K−$10K$180K 990 PDF
FY2023 $164K$87K$76K$190K 990 PDF
FY2022 $149K$113K 990 PDF
FY2021 Not on file
FY2020 $80K$33K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $142,147 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $88,338$77,450
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $75,522$64,697
I-12 Total revenuePrior year $163,860$142,147
I-13 Grants and similar amounts paidPrior year $60,783$132,421
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $26,579$19,755
I-18 Total expensesPrior year $87,362$152,176
I-19 Revenue less expensesPrior year $76,498−$10,029
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $142,147 across 5 lines filed
VIII-1c Fundraising events$35,250
VIII-1f All other contributions, gifts and grants$42,200
VIII-1h Total contributions, gifts and grants$77,450
VIII-8 Net income from fundraising eventsExcluded from tax $64,697$64,697
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $64,697$142,147
Part IX · Statement of functional expenses $152,176 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $25,711$25,711
IX-2 Grants to domestic individualsPrograms $106,710$106,710
IX-11b Legal feesManagement $130$130
IX-11c Accounting feesManagement $11,665$11,665
IX-12 Advertising and promotionManagement $5,100$5,100
IX-24 Other expenses (24a–d)Management $2,860$2,860
IX-25 Total functional expensesPrograms $132,421 · Management $19,755 · Fundraising $0$152,176
Part X · Balance sheet $279,022 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $269,381$260,772
X-4 Accounts receivableStart of year $20,737$14,000
X-15 Other assetsStart of year $0$4,250
X-16 Total assetsStart of year $290,118$279,022
X-17 Accounts payable and accrued expenses$3,000
X-18 Grants payable$58,100
X-25 Other liabilitiesStart of year $100,191$38,024
X-26 Total liabilitiesStart of year $100,191$99,124
X-32 Total net assets or fund balancesStart of year $189,927$179,898
X-33 Total liabilities and net assetsStart of year $290,118$279,022
Part XI · Reconciliation of net assets $179,898 net assets at year end
XI-1 Total revenue$142,147
XI-2 Total expenses$152,176
XI-3 Revenue less expenses−$10,029
XI-4 Net assets at start of year$189,927
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$179,898

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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