2024-03-25T13:13:57-05:00 2023-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2022-07-01 450390485 UND Aerospace Foundation UNDA 7017774740 4275 University Avenue Grand Forks ND 582029023 Charles Pineo CEO 7017774740 2024-03-19 1 Charles Pineo 999009999 1 Deb Nelson CPA P01264758 6122536500 2024-03-18 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Charles Pineo 4275 University Avenue Grand Forks ND 582029023 23942818 0 X www.undaerospace.com X 1985 ND Education in the field of aerospace. 8 7 185 3 1638418 280426 4631886 437806 23596569 20286841 1955047 1255447 1350254 946322 31533756 22926416 1384295 235203 0 0 7989898 6627967 0 0 122313 18476616 15156104 27850809 22019274 3682947 907142 96162073 96231901 14168096 13410553 81993977 82821348 X To support the functions of, and to assist in carrying out the purposes of, the John D. Odegard School of Aerospace Sciences of the University of North Dakota. 0 0 8529650 235203 9255474 The UND Aerospace Foundation (The Foundation) is a North Dakota nonprofit organization organized to encourage and develop the University of North Dakota's (UND) John D. Odegard School of Aerospace Sciences. The Foundation's principal activities consist of developing and conducting training programs, research and development, and consulting services related to the aerospace industry. The Foundation's principal activities are located in Grand Forks, ND, with additional flight training center located in Mesa, AZ. Aviation training - classroom, flight training, and support services delivered to pilot students at Grand Forks campus, with 15,333 flight training hours during the year. 9240934 0 9797742 Flight training centers - flight training delivered to student pilots outside of the Grand Forks campus, primarily students enrolled in community college programs. Location is Mesa, Arizona and with 28,145 flight hours during the year. Currently developing an additional location in Saudi Arabia in conjunction with the Tayaran Flight Academy, providing training and consulting services. 15936 0 42000 Aircraft and simulator rental - rental receipts for aircraft and simulators for use at Grand Forks campus for flight training, primarily for use with the undergraduate students enrolled at the University of North Dakota. Assets include aircraft and simulators. 1619489 0 83919 Other programs include FAA testing center, software development, and aerospace merchandise sales. 1619489 0 83919 19406009 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 25 0 1 185 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 1 0 AZ X Cara J Miller 7017774740 4275 University Avenue Grand Forks ND 582029023 Charles Pineo Chief Executive Officer 40.00 X 352429 0 64347 Dana Sande Vice President of Business 40.00 X 262306 0 55155 Robert Kraus President 5.00 40.00 X 0 264803 52439 Cara Miller Chief Financial Officer 40.00 X 185588 0 47583 Jason Smith Training Manager 40.00 X 141372 0 23126 Rex Ginder Associated Director of Flight Ops 40.00 X 119353 0 40773 Chad Martin Aircraft Sales and Project Mgr 40.00 X 122015 0 37285 Michael Jansen Program Director 40.00 X 127231 0 20142 Larry Martin Chair 5.00 X X 30000 0 0 David Williamson Director 1.00 X 18000 0 0 James Bunke Director 1.00 X 18000 0 0 Karen Nyberg Director 1.00 X 18000 0 0 John Odegard Director 1.00 X 18000 0 0 Charles Kluenker Director 1.00 X 18000 0 0 Gary Maas through June Director 1.00 X 0 0 0 Clay Lacy Director 1.00 X 0 0 0 Charles Ahearn Director 1.00 X 0 0 0 1430294 264803 340850 7 0 1 0 0 12500 425306 437806 Flight Training Centers 611512 12031949 12031949 Aircraft & Simulator Rental 611512 7764736 6729308 1035428 Other Programs 611512 399156 228816 170340 Curriculum/Tuition Fees 611512 91000 91000 20286841 566833 79771 487062 777786 80902 696884 696884 201503 495381 1464125 775511 688614 688614 688614 258051 159989 98062 98062 Software/Website & Video Dev 611430 151376 151376 151376 22926416 19179135 1638418 1671057 124586 124586 110617 110617 783007 783007 4532460 4333982 198478 305983 290667 15316 656739 610197 46542 349778 304542 45236 20207 19871 336 47374 47374 1817738 1798071 10167 9500 89162 89162 199344 151410 40528 7406 391359 370389 20970 205576 49274 73222 83080 91505 19895 52020 19590 263814 211458 52356 4197280 3341376 855904 140756 58652 82104 Tax on Unrelated Busine 19299 19299 Aircraft Expense 5819128 5790770 28358 Student Housing/Food 851271 851271 Tuition and Fees 642099 642099 360192 237720 119735 2737 22019274 19406009 2490952 122313 24325724 23503551 852000 710000 2849553 2963536 849811 937711 1177475 394576 96134822 29780195 65355540 66354627 242000 242000 509970 1125900 96162073 96231901 2230382 1540435 1011600 911400 1637638 2286972 6130913 5709320 3157563 2962426 14168096 13410553 X 80622698 82535642 1371279 285706 81993977 82821348 96162073 96231901 X 907142 -79771 X 0 1 X 1 0 X X 1 University of North Dakota 456014235 6 1 235203 21784071 1 235203 21784071 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 Part IV, Section A, Line 2: The University of North Dakota, the supported organization, does not have an IRS determination of status under section 509(a)(1) or (2). It is not required to obtain recognition of its public charity status because it is a state university. Part IV, Section D, Line 2: The directors of the University appoint the Dean of the Odegard School, who serves ex officio as the President of the Foundation. In addition, the Dean of the Odegard School and the President of the University serve as University Representatives to the Board of Directors. In their role as University Representatives, the Dean of the Odegard School and the President of the University maintain a close and continuous relationship with the Board of Directors of the Foundation. Part IV, Section D, Line 3: The participation of the Dean of the Odegard School and President of the University as formally recognized advisors to the Board, coupled with the service of the Dean as President of the Foundation, gives the University a significant voice in all aspects of the Foundation's policies and operations. Part IV, Section E, Line 2a: The Foundation conducts programs that form an integral part of the University's Odegard School curriculum and outreach activities. These include pilot training, development of training curriculum and equipment, research, and general program operations and administration. Part IV, Section E, Line 2b: As described in Part IV, Section E, Line 2a, the activities conducted by the Foundation are of significance to the University's Odegard School. If these activities were not conducted by the Foundation, they would normally be engaged in by the University itself. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4346160 4346160 49632789 9453931 40178858 106800 106800 0 42049073 20219464 21829609 66354627 Interest Payable 21560 Lease Obligations 1594477 Related Party Payables 1346389 2962426 X 22823722 -263814 -263814 23087536 -161120 -161120 22926416 21996351 240891 240891 21755460 263814 263814 22019274 Part X, Line 2: The Foundation is engaged in certain activities that result in unrelated business income. The Foundation files an Exempt Organization Business Income Tax Return (Form 990T) with the IRS to report its unrelated business taxable income. The Foundation evaluates its uncertain tax positions on an annual basis, and there have been no uncertain tax positions recorded in fiscal 2023 and 2022. Part XI, Line 2d - Other Adjustments: Interest Expense Recorded as Nonoperating Revenue on Financial Statements. -263,814. Part XI, Line 4b - Other Adjustments: Cost of Goods Sold netted with revenue for tax purposes. -159,989. Share of partnership net income not reported for book. 79,771. Rental expenses netted with revenue for tax purposes. -80,902. Part XII, Line 2d - Other Adjustments: Cost of Goods Sold netted with revenue for tax purposes. 159,989. Rental expenses netted with revenue for tax purposes. 80,902. Part XII, Line 4b - Other Adjustments: Interest Expense Recorded as Nonoperating Revenue on Financial Statements. 263,814. Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt, 0 4 Program Services Personnel supporting development of flight training programs 437000 0 4 0 0 0 4 437000 0 437000 0 0 0 0 0 0 Part III Accounting Method: 1 University of North Dakota 264 Centennial Drive Stop 8364 Grand Forks ND 582028364 456002491 State of ND 124586 0 Program support. 1 0 Scholarship and Flight Training - Veterans 10 95294 Scholarship and Flight Training - Others 1 2173 Aerospace Summer Camp 8 13150 Part I, Line 2: Support is generally given directly to (or indirectly in support of) the Odegard School of Aerospace Sciences at the University of North Dakota in accordance with our bylaws. From time to time we also fund scholarships for U.S. veterans and for the benefit of Odegard School enrolled students or employees. In addition, grants are occasionally given to public charities. X X 0 0 0 0 0 0 0 1 0 Charles Pineo Chief Executive Officer 304429 0 48000 0 0 0 39500 0 25705 0 417634 0 0 0 Dana Sande Vice President of Business 230306 0 32000 0 0 0 30308 0 25662 0 318276 0 0 0 Robert Kraus President 0 264533 0 0 0 270 0 33314 0 19996 0 318113 0 0 Cara Miller Chief Financial Officer 185588 0 0 0 0 0 24287 0 24085 0 233960 0 0 0 Jason Smith Training Manager 116923 0 0 0 24449 0 14560 0 9183 0 165115 0 0 0 Rex Ginder Associated Director of Flight Ops 119353 0 0 0 0 0 15907 0 25490 0 160750 0 0 0 Chad Martin Aircraft Sales and Project Mgr 122015 0 0 0 0 0 15288 0 22639 0 159942 0 0 0 Part I, Line 7 Charles Pineo and Dana Sande received bonuses that are considered to be non-fixed payments. The bonus amounts are determined by the Board. The amounts are discretionary and are based upon review of their performance and other applicable factors. Form 990, Part VI, Section A, line 8b The organization does not have any committees with the authority to act on behalf of the board. Form 990, Part VI, Section B, line 11b The return is reviewed by the organization's Chief Executive Officer and Chief Financial Officer. The return is then made available to voting members of the Board of Directors prior to filing. Form 990, Part VI, Section B, line 12c The policy covers any person serving as a member of the Board of Directors, member of a committee, officer of the Foundation, their family members, or an entity in which any of them have a material interest. The policy provides for review of potential conflicts and determination of actual conflict by the Chair and the President, except to the extent additional disclosure is necessary. The conflicted member will not be counted in a quorum, does not vote and/or may be absent from the meeting or discussion during a vote on the conflicted matter. Form 990, Part VI, Section B, line 15 The organization's compensation committee (two board members) is charged with making an informal assessment of market and industry averages by researching comparable positions in comparable industries for the Chief Executive Officer and other officers. This process is reviewed on an annual basis. The Chief Financial Officer's compensation is reviewed on an annual basis by the Chief Executive Officer. Form 990, Part VI, Section C, line 19 The organization's governing documents are available upon request. Form 990, Part XI, line 9: Partnership net income recorded for tax purposes. -79,771. Form 990, Part IV, Line 12b: UND Aerospace Foundation is a component unit of the North Dakota University System and included in their audited financial statements. Sunray Property Holdings LLC 4275 University Ave Stop 9023 Grand Forks ND 58202 364804584 To own and operate real estate property located in AZ. AZ 360246 4980080 UND Aerospace Foundation Blue Sky Property LLC 4275 University Ave Stop 9023 Grand Forks ND 58202 882153392 To own and operate real estate property located in AZ. AZ 184098 13336662 UND Aerospace Foundation University of North Dakota 264 Centennial Drive Grand Forks ND 58202 456014235 University level education. ND N/A N/A 0 0 1 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 0 0