2017 Annual Report
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A NEW DECADE OF SUPPORT BEGINS 2017 ANNUAL REPORT TABLE OF CONTENTS 2 BUILDING A FIRM FOUNDATION FOR THE DECADE AHEAD 4 GIVING HIGHLIGHTS 8 10 AREAS IMPACTED BY 2017 GIFTS 16 10 NOTEWORTHY ACADEMY EVENTS 20 ENDOWMENT INITIATIVES 24 BOARD OF DIRECTORS 1 2 BUILDING A FIRM FOUNDATION FOR THE DECADE AHEAD Like my fellow Academy graduates, I take great pride in being part of the fellowship of men and women The Endowment’s 10th anniversary in 2017 was who have followed the Long Blue Line in service to our a time for celebration. During that short span of nation. Our Endowment’s board of directors remains time, Academy graduates and friends contributed deeply committed to our mission of advancing our more than $141 million to help expand the great Academy through private philanthropy. excellence of Academy projects and programs We are fortunate to have assembled a committed that are building officers of character to lead the board of respected leaders from both the public and Air Force and our nation. private sectors. We are parlaying that competitive It was also a life-changing year for Paula and me drive we all share into our efforts to achieve the when I accepted the offer to serve as president and greatest success on behalf of the Academy. CEO of the Endowment. As an Academy graduate Building upon the Endowment’s first 10 years and former superintendent of this great institution, of successful philanthropy, we are developing a I have a special love for the Academy and a comprehensive plan designed to take it to the commitment to serving the young men and women next level during the decade ahead. The Academy here who have been called to serve. leadership has carefully identified the areas where I am thankful for the Endowment leaders who laid private funding is required to expand the excellence the foundation for what I believe will be an amazing we all expect of our Academy. Working with a growing journey through the decade ahead. group of donors, we see unique opportunities to I want to help ignite a fanatical pride in the Air significantly enhance all areas of cadet training: Force Academy throughout our community, our state academic, athletic, character and leadership and across the nation. I hope this year’s annual report development and military training. will give you a glimpse into what makes this service I am honored and excited to be helping the academy so unique. Thank you for your support. Endowment as it continues to grow and expand its impact on the United States Air Force Academy! Sincerely, Mike Gould ‘76 Sincerely, Lt. Gen., USAF (Ret.) Jack Kucera ‘78 President & CEO Chairman of the Board 3 4 GIVING HIGHLIGHTS The United States Air Force Academy Endowment is focused on its singular mission to provide transformative philanthropic support to the U.S. Air Force Academy. During the Endowment’s first decade, private donors have supported that mission with more than $141 million. During 2017, graduates, families and friends provided more than $17 million in support of a wide range of programs at the Academy. The stories, graphs and statistics in this annual report provide an overview of the impact of your support. For each of the 4,000 cadets, there is a story of how a donor-supported program has made a difference. Whether it involves cultural immersion trips to better understand how to navigate a global society or scholarships to attend graduate school, each gift has the potential to influence a cadet’s future success. We offer sincere thanks to all 7,314 donors who answered the call to support those who are called to serve. Because we celebrated our 10th anniversary in 2017, we wanted to highlight a broad range of 10 gifts to illustrate the types of impact donors can have on the Academy. Gifts from individuals, corporations and foundations over the past year have expanded excellence in all areas of campus: academics, athletics, character and leadership and military training. These enhanced experiences help to develop the best leaders of character for the U.S. Air Force and the nation. 5 cumulative gifts and commitments $141.79 All dollar amounts in millions. $124.61 $110.23 Total $93.82 $78.15 $141.79 $62.88 million 2007-2012 2013 2014 2015 2016 2017 Gifts by Purpose (Cumulative) Private gifts and commitments of $141.79 million to the USAFA Endowment since 7,314 $1.35 million its inception in 2007 were designated people contributed to the was given by graduates in to the following purposes: Air Force Academy support of their class reunion Academic Support giving projects $14.83 million – 10.5% Athletic Support 1,010 $29.78 million – 21% people made first-time gifts in 2017 $300,000 was raised from graduates Character and Leadership $38.34 million – 27% during the 2017 All-Academy $2.3 million Challenge Heritage $5.02 million – 3.5% was contributed to the Air Force Academy Fund Operational Support $33,335 $24.67 million – 17.4% was received during the Unrestricted Support 1,230 annual #GivingTuesday event $7.22 million – 5.1% Sabre Society and 54th Squadron Other Institutional Support donors gave annual gifts of $21.93 million – 15.5% $1,000 or more 6 Donors by level (cash received) This table shows the number of donors who made cash contributions to the Air Force Academy through the USAFA Endowment at various giving levels during 2017. Donor level, Number of Donors Total Total $1 million and above ............................................2 $17.18 $500K-$999.9K ....................................................3 $17.18 $250K-$499.9K .....................................................5 million million $100K-$249.9K ....................................................24 $50K-$99.9K ....................................................... 19 $25K-$49.9K ........................................................45 $10K-$24.9K ........................................................75 $5K-$9.9K ...........................................................112 $2.5-$4.9K ........................................................ 204 Gifts by Purpose (2017) Gifts by source (2017) $1K-$2.4K .......................................................1,406 Less than $1,000 ...........................................5,419 Private gifts and commitments of $17.18 Private gifts and commitments million to the USAFA Endowment of $17.18 million to the USAFA Total number of donors ............................... 7,314 during 2017 were designated to the Endowment during 2017 came from following purposes: the following sources: Financial summary The following information is derived from the Academic Support Graduates Endowment’s financial statements as of $5.05 million – 29.4% $13.52 million – 78.7% December 31, 2017. Athletic Support Foundations $ $4.35 million – 25.3% $1.8 million – 10.5% Assets Character and Leadership Companies Cash and cash equivalents ............. $ 17,800,000 $250,000 – 1.5% $970,000 – 5.6% Investments ..................................... $ 32,430,000 Heritage Parents Pledges (promises to give) ............ $ 16,480,000 $390,000 – 2.3% $630,000 – 3.7% Other assets .................................... $ 280,000 Operational Support Other Total assets ..................................... $ 66,990,000 $1.36 million – 7.9% $260,000 – 1.5% Unrestricted Support Expenses $2.23 million – 12.9% Program services ............................ $ 12,070,000 Other Institutional Support Fundraising ...................................... $ 3,410,000 $3.55 million – 20.7% General and administrative ............ $ 910,000 Total expenses ................................ $ 16,390,000 8 WE ARE 10 AREAS IMPACTED BY 2017 GIFTS “DEVELOPING THOSE VERY IMPORTANT CRITICAL THINKING SKILLS OUR OFFICERS NEED TO HAVE TO FIGHT 21ST CENTURY WARFARE. Harmon Memorial Lectures The Face of Battle staff ride —Col. Gary Packard anonymous donor Lt. Col. (Ret.) Don Raines ’86 The Harmon Memorial Lectures honor the memory of the On the 73rd anniversary of the Normandy invasion (June 6, Academy’s first superintendent, Lt. Gen. Hubert R. Harmon. 2017), six Air Force Academy cadets stood on the sands of Each year, an outstanding military historian or recognized Omaha Beach, moved by the bravery and sacrifice of the scholar from a related field is invited to the Academy to men who fought and died that day. present on a subject within the broad field of military history. Visiting Normandy was part of the 14-day Face of Battle Staff The lecture is published and distributed to leading Ride coordinated through the Academy Department of History scholars and libraries throughout the world. The lectures by Lt. Col. Mark Grotelueschen and Dr. Bob Wettemann. The ride are known collectively as the Harmon Memorial Lectures in was funded by Academy graduate Lt. Col. (Ret.) Don Raines ’86 Military History. through the United States Air Force Academy Endowment. Dr. Brian M. Linn of Texas A&M University delivered the “A trip like this has the potential to be transformational in so 2017 Harmon lecture, “Military Professionals and many ways, not only for the cadets, but to generate excitement the Warrior Ethos in the Aftermath of War.” within the History Department,” Wettemann says. “Developing this sort of intellectual engagement with the past creates insights that cadets will carry with them for the rest of their lives.” 9 New telescope advances space research Profession of Arms Speaker Series anonymous donor The Boeing Company An anonymous Academy supporter agreed to match gifts The Profession of Arms Speaker Series, coordinated through up to $100,000 to help replace