2024-11-05T03:34:40-06:00 2023-12-31 221478099 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2023-01-01 832521416 AVIXA FOUNDATION INC AVIX 2023444790 11242 WAPLES MILL ROAD SUITE 200 FAIRFAX VA 22030 DAVID LABUSKES CEO OF AVIXA 7032737200 2024-11-03 1 1 DANIEL O'SHEA P00957510 3016529100 2024-11-02 2023 2024-10-15 13:58:12Z SARAH JOYCE 11242 WAPLES MILL ROAD SUITE 200 FAIRFAX VA 22030 359417 0 X WWW.AVIXA.ORG/FOUNDATION X 2018 VA AVIXA FOUNDATION, INC. IS CHARTERED TO SUPPORT AND IMPROVE THE AUDIOVISUAL COMMUNICATIONS INDUSTRY THROUGH EDUCATION AND RESEARCH. PRIMARY ACTIVITIES INCLUDE WORKFORCE DEVELOPMENT AND SCHOLARSHIPS. 7 7 0 12 0 0 7500 10000 0 0 31614 78882 8 9 39122 88891 30830 48112 0 0 0 0 0 0 0 5149 7576 35979 55688 3143 33203 1389324 1611871 80211 126496 1309113 1485375 AVIXA FOUNDATION, INC. IS CHARTERED TO SUPPORT AND IMPROVE THE AUDIOVISUAL COMMUNICATIONS INDUSTRY THROUGH EDUCATION AND RESEARCH. PRIMARY ACTIVITIES INCLUDE WORKFORCE DEVELOPMENT AND SCHOLARSHIPS. 0 0 52515 48112 9 PRIMARY ACTIVITIES INCLUDE WORKFORCE DEVELOPMENT AND SCHOLARSHIPS. 52515 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X X GREGORY FEEHAN 7032737200 11242 WAPLES MILL ROAD SUITE 200 FAIRFAX VA 22030 CRISTIANO MAZZA PRESIDENT 1.00 0.00 X X 0 0 0 CHRIS FITZPATRICK DIRECTOR 1.00 0.00 X 0 0 0 JACK LAIDLAW DIRECTOR 1.00 0.00 X 0 0 0 ALTHEA RICKETTS DIRECTOR 1.00 0.00 X 0 0 0 JATAN SHAH OUTGOING DIRECTOR 1.00 1.00 X 0 0 0 MRADUL SHARMA OUTGOING DIRECTOR 1.00 1.00 X 0 0 0 VIRGINIA WU DIRECTOR 1.00 0.00 X 0 0 0 KAUSHIK MUKHOPADHYAY DIRECTOR 1.00 0.00 X 0 0 0 DOROTHY DI STEFANO DIRECTOR 1.00 0.00 X 0 0 0 GREGORY FEEHAN CFO 1.00 36.50 X 0 373587 59995 SARAH JOYCE EXECUTIVE DIRECTOR 1.00 36.50 X 0 346283 14158 0 719870 74153 0 0 1 0 0 10000 10000 41157 41157 308251 270526 37725 37725 37725 9 9 9 88891 9 0 78882 48112 48112 4403 4403 16 16 315 315 CATERING 2808 2808 34 34 55688 52515 3173 0 15615 20615 1373540 1591078 169 178 1389324 1611871 80211 126496 80211 126496 X 139546 130954 1169567 1354421 1309113 1485375 1389324 1611871 33203 143059 0 X 0 1 X 1 0 X X 1 AVIXA INC 540621493 10 1 0 0 1 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 PART IV, SECTION A, LINE 3B: THE FOUNDATION AND THE SUPPORTED ORGANIZATION (AVIXA, A 501(C)(6)) SHARE THE SAME ACCOUNTING DEPARTMENT. PRIOR TO FILING THE 990, THE FOUNDATION REVIEWED THE FINANCIAL STATEMENTS OF THE SUPPORTED ORGANIZATION AND ENSURED THAT THE SUPPORTED ORGANIZATION MET THE PUBLIC SUPPORT TESTS UNDER SECTION 509(A)(2). PART IV, SECTION A, LINE 3C: THE FOUNDATION AND THE SUPPORTED ORGANIZATION (AVIXA) SHARE THE SAME ACCOUNTING DEPARTMENT, WHICH PREPARES FINANCIAL STATEMENTS FOR BOTH ENTITIES. IN 2023, THE FOUNDATION DID NOT PROVIDE SUPPORT TO THE SUPPORTED ORGANIZATION. PART IV, SECTION B, LINE 1: THE FOUNDATION AND SUPPORTED ORGANIZATION ARE UNDER COMMON MANAGEMENT WHICH CONTROL AND SUPERVISE THE FOUNDATION. THE MEMBERS OF THE BOARD OF DIRECTORS OF THE FOUNDATION ARE APPOINTED, ELECTED AND MAY BE REMOVED BY THE SUPPORTED ORGANIZATION. THE CEO OF THE SUPPORTED ORGANIZATION APPOINTS AN EMPLOYEE OF THE SUPPORTED ORGANIZATION TO SERVE AS THE FOUNDATION'S EXECUTIVE DIRECTOR. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1146515 10000 217538 42684 1331369 1399517 7500 -226056 34446 1146515 1251034 172511 24028 1399517 1093395 163835 6196 1251034 0.00000 1.00000 0.00000 0 0 0 DUE TO AFFILIATES 126496 126496 X 69866600 143059 69639053 69782112 84488 4403 4403 88891 56278547 56227262 56227262 51285 4403 4403 55688 PART X, LINE 2: AVIXA FOUNDATION WAS INCORPORATED IN 2018 AND IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. TAX YEARS PRIOR TO 2020 ARE NO LONGER SUBJECT TO EXAMINATION BY THE IRS OR THE TAX JURISDICTION OF THE COMMONWEALTH OF VIRGINIA. DURING THE YEARS ENDED DECEMBER 31, 2023 AND 2022, AVIXA FOUNDATION DID NOT HAVE NET TAXABLE INCOME. THERE IS NO PROVISION IN THESE CONSOLIDATED FINANCIAL STATEMENTS FOR INCOME TAXES OR INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED-ENTITY REVENUE, NET OF INTERCOMPANY TRANSACTIONS 69,639,053. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED-ENTITY EXPENSES, NET OF INTERCOMPANY TRANSACTIONS 56,227,262. 1 SCHOLARSHIPS 6 15000 GRANTS 3 15000 PART I, LINE 2: EACH YEAR, THE AVIXA FOUNDATION OFFERS A SCHOLARSHIP PROGRAM FOR TWO LEVELS OF STUDENTS: 1) STUDENTS ENTERING JUNIOR OR SENIOR YEAR OF A BACHELOR'S OR A MASTER'S DEGREE IN SELECTED ENGINEERING PROGRAMS THAT SUPPORT THE AUDIOVISUAL INDUSTRY AND 2) GRADUATING HIGH SCHOOL SENIORS ENTERING SPECIFIC AUDIOVISUAL RELATED DEGREE PATHWAYS. SHORTLY AFTER JANUARY 1ST OF EVERY YEAR, THE APPLICATION GUIDELINES, APPLICATIONS AND THE SCHOLARSHIP PROGRAM ARE PLACED UPON THE AVIXA FOUNDATION WEBSITE. THERE ARE ALSO SEVERAL INTERNET SCHOLARSHIP WEBSITES THAT ARE LINKED TO THE AVIXA FOUNDATION SCHOLARSHIP SITE. APPLICATIONS, TO INCLUDE TRANSCRIPTS AND LETTERS OF RECOMMENDATION, ARE FORWARDED TO THE AVIXA FOUNDATION EXECUTIVE DIRECTOR OR STAFF. DURING MAY, THE AVIXA FOUNDATION BOARD OF DIRECTORS SELECTS A SUB-COMMITTEE OF MEMBERS WHO ARE PROVIDED THE APPLICATIONS ALONG WITH A RATING SCALE. BASED UPON THE AVAILABLE FUNDS FOR USE IN THE SCHOLARSHIP PROGRAM, THE NUMBER OF STUDENTS IS SELECTED AND ULTIMATELY NOTIFIED OF THE AWARDS. 0 0 0 0 0 0 0 0 0 GREGORY FEEHAN CFO 0 314068 0 56520 0 2999 0 13200 0 46795 0 433582 0 0 SARAH JOYCE EXECUTIVE DIRECTOR 0 295199 0 51084 0 0 0 11808 0 2350 0 360441 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE FOUNDATION IS A VIRGINIA NON-STOCK AND NONPROFIT CORPORATION. THE FOUNDATION'S BY-LAWS SPECIFY THAT THE FOUNDATION HAS ONE VOTING MEMBER, WHICH IS THE SUPPORTED ORGANIZATION OF AVIXA, INC. (THE "VOTING MEMBER"). THE VOTING MEMBER THROUGH ITS GOVERNING BODY IS ENTITLED TO ELECT AND REMOVE MEMBERS OF THE FOUNDATION'S BOARD OF DIRECTORS. ADDITIONALLY, THE VOTING MEMBER MUST APPROVE OF ANY TERMINATION OF THE MEMBERSHIP OF THE VOTING MEMBER IN THE FOUNDATION AS WELL AS THE DISSOLUTION OF THE FOUNDATION. FORM 990, PART VI, SECTION A, LINE 7A THE FOUNDATION'S BY-LAWS SPECIFY THAT THE FOUNDATION HAS ONE VOTING MEMBER, WHICH IS THE SUPPORTED ORGANIZATION, AVIXA (THE "VOTING MEMBER"). THE VOTING MEMBER THROUGH ITS GOVERNING BODY IS ENTITLED TO ELECT AND REMOVE MEMBERS OF THE FOUNDATION'S BOARD OF DIRECTORS. ADDITIONALLY, THE VOTING MEMBER MUST APPROVE OF ANY TERMINATION OF THE MEMBERSHIP OF THE VOTING MEMBER IN THE FOUNDATION. SPECIFICALLY, THE FOUNDATION BOARD OF DIRECTORS CONSISTS OF UP TO SEVEN (7) DIRECTORS, AND UP TO FOUR (4) OF WHICH ARE TO BE APPOINTED OR ELECTED BY THE VOTING MEMBER'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B IN ADVANCE OF A BOARD MEETING, THE BOARD OF DIRECTORS RECEIVES A DRAFT OF THE FORM 990 FOR REVIEW. AT THE BOARD MEETING, THE CHIEF FINANCIAL OFFICER CONDUCTS A DETAILED REVIEW OF THE 990 AND ITS CONTENTS AND RESPONDS TO ANY QUESTIONS ARISING FROM THE BOARD'S REVIEW OF THE 990. ALTERNATIVELY, IF THE TIMING OF THE BOARD MEETING DOES NOT ALLOW FOR A PRESENTATION OF THE FORM 990, THE CHIEF FINANCIAL OFFICER WILL SHARE THE DRAFT FORM 990, ALONG WITH AN OVERVIEW AND EXPLANATION OF THE FORM 990, WITH THE BOARD OF THE DIRECTORS VIA EMAIL. THE CFO WILL THEN ANSWER ANY RELATED QUERIES AND SEEK THE BOARD OF DIRECTORS APPROVAL OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C AVIXA FOUNDATION MONITORS ANY DISCLOSURES FROM EMPLOYEES AND VOLUNTEERS OF ANY CONFLICT OF INTERESTS WITH THE FOUNDATION AND TAKES APPROPRIATE ACTION FOR ANY CONFLICTS THAT ARE NOT IN COMPLIANCE WITH THE FOUNDATION'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE CEO OF THE SUPPORTED ORGANIZATION DESIGNATES ONE OF THE EMPLOYEES OF THE SUPPORTED ORGANIZATION TO SERVE AS EXECUTIVE DIRECTOR. THE EMPLOYEE'S POSITION AT THE SUPPORTED ORGANIZATION IS REVIEWED BY AN INDEPENDENT COMPENSATION CONSULTANT WHO CONDUCTS A SALARY STUDY ON A PERIODIC BASIS. A PORTION OF THE EMPLOYEE'S COMPENSATION IS CHARGED TO THE FOUNDATION TO REFLECT THE TIME SPENT AS EXECUTIVE DIRECTOR OF THE FOUNDATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST (ELECTRONICALLY OR HARD COPY). 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