The Academy Research And Development Institute

Colorado Spgs, CO
Tax-exempt since Jan. 1986
EIN: 74-2378230

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Revenue

−$1M (2023)

Expenses

$2.1M (2023)

Total Assets

$44.2M (2023)

Total Liabilities

$19.2k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2023

Revenue

-$1,003,542

Expenses

$2,102,200

Net Income

-$3,105,742

Net Assets

$44,184,451

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$297,196
Program Services	$0
Investment Income	$781,785
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$2,082,523
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$165,860	7.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$131,313	6.2%

Assets/Debt
Total Assets	$44,203,625
Total Liabilities	$19,174
Net Assets	$44,184,451

Compensation

Key Employees and Officers	Compensation	Related	Other
Dana Montgomery (Director/Vp)	$132,700	$0	$9,710
Michael Erdle (Chairman)	$0	$198,000	$0
Terry Erdle (Vice Chairman)	$0	$142,900	$0
Chris Miller (Director)	$0	$0	$0
Bob Edmonds (Director)	$0	$0	$0
Rick Pyatt (Director)	$0	$0	$0
Jack Catton (Director)	$0	$0	$0

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990

Filed on Nov. 14, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending June
2022

Revenue

$9,299,403

Expenses

$2,710,625

Net Income

$6,588,778

Net Assets

$39,543,446

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$350,000	3.8%
Program Services	$0
Investment Income	$6,085,154	65.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$2,864,249	30.8%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$133,599	4.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$137,639	5.1%

Assets/Debt
Total Assets	$40,306,897
Total Liabilities	$763,451
Net Assets	$39,543,446

Compensation

Key Employees and Officers	Compensation	Related	Other
Dana Montgomery (Director/Vp)	$115,819	$0	$7,699
Michael Erdle (Chairman)	$0	$198,000	$0
Terry Erdle (Vice Chairman)	$0	$102,000	$0
Chris Miller (Director)	$0	$0	$0
Bob Edmonds (Director)	$0	$0	$0
Rick Pyatt (Director)	$0	$0	$0
Jack Catton (Director)	$0	$0	$0

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990

Filed on Feb. 17, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending June
2021

Revenue

$6,317,720

Expenses

$1,912,876

Net Income

$4,404,844

Net Assets

$44,882,890

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$239,521	3.8%
Program Services	$0
Investment Income	$763,320	12.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$5,098,887	80.7%
Net Inventory Sales	$0
Other Revenue	$215,992	3.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$374,913	19.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$44,885,190
Total Liabilities	$2,300
Net Assets	$44,882,890

Compensation

Key Employees and Officers	Compensation	Related	Other
Dana Montgomery (Vice President)	$102,731	$0	$0
Michael Erdle (Chairman)	$0	$198,000	$0
Terry Erdle (Director)	$0	$100,612	$0
Chris Miller (Director)	$0	$0	$0
Bob Edmonds (Director)	$0	$0	$0
Rick Pyatt (Director)	$0	$0	$0
Jack Catton (Director)	$0	$0	$0

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990

Filed on March 4, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending June
2020

Revenue

$2,792,544

Expenses

$1,547,491

Net Income

$1,245,053

Net Assets

$32,703,408

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$311,899	11.2%
Program Services	$0
Investment Income	$757,561	27.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,723,084	61.7%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$32,705,477
Total Liabilities	$2,069
Net Assets	$32,703,408

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Aug.
2019

Revenue

$1,150,674

Expenses

$1,629,137

Net Income

-$478,463

Net Assets

$35,644,530

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$434,362	37.7%
Program Services	$0
Investment Income	$806,851	70.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$90,539
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$35,655,299
Total Liabilities	$10,769
Net Assets	$35,644,530

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Aug.
2018

Revenue

$3,789,305

Expenses

$1,047,075

Net Income

$2,742,230

Net Assets

$36,444,391

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$819,789	21.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$70,017
Net Inventory Sales	$0
Other Revenue	$3,039,533	80.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$36,456,685
Total Liabilities	$12,294
Net Assets	$36,444,391

Compensation

Key Employees and Officers	Compensation	Related	Other
Col Michael Erdle (Chairman)	$0	$0	$0
Tom Lasorda (Director)	$0	$0	$0
Terry Erdle (Director)	$0	$0	$0
Chris Miller (Director)	$0	$0	$0
Mathew Roesemann (Treasurer)	$0	$0	$0
Dana Montgomery (Vice President)	$0	$0	$0
Lorraine Stickle (Secretary)	$0	$0	$0
Scott George (Director)	$0	$0	$0
Wayne Pedersen (Treasurer Emeritus)	$0	$0	$0
Mary Wells (Secretary Emeritus)	$0	$0	$0

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990

Filed on Nov. 14, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Aug.
2017

Revenue

$1,962,275

Expenses

$1,009,823

Net Income

$952,452

Net Assets

$33,702,161

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$11,735	0.6%
Program Services	$0
Investment Income	$464,375	23.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$82,239
Net Inventory Sales	$0
Other Revenue	$1,568,404	79.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$33,710,373
Total Liabilities	$8,212
Net Assets	$33,702,161

Compensation

Key Employees and Officers	Compensation	Related	Other
Col Michael Erdle (Chairman)	$0	$0	$0
Mary Wells (Secretary)	$0	$0	$0
Harvey Jones (Director)	$0	$0	$0
Tom Lasorda (Director)	$0	$0	$0
Terry Erdle (Director)	$0	$0	$0
Chris Miller (Director)	$0	$0	$0
Mathew Roesemann (Treasurer)	$0	$0	$0
Wayne Pedersen (Treasurer Emeritus)	$0	$0	$0

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990

Filed on Nov. 4, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Aug.
2016

Revenue

$2,744,748

Expenses

$900,877

Net Income

$1,843,871

Net Assets

$32,749,709

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$567,676	20.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$473,619	17.3%
Net Inventory Sales	$0
Other Revenue	$1,703,453	62.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$32,757,174
Total Liabilities	$7,465
Net Assets	$32,749,709

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending Aug.
2015

Revenue

-$535,197

Expenses

$867,485

Net Income

-$1,402,682

Net Assets

$30,905,838

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$759,852
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$444,301
Net Inventory Sales	$0
Other Revenue	-$1,739,350

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$30,984,692
Total Liabilities	$78,854
Net Assets	$30,905,838

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Aug.
2014

Revenue

$5,019,659

Expenses

$775,360

Net Income

$4,244,299

Net Assets

$32,308,520

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$100	0.0%
Program Services	$0
Investment Income	$643,070	12.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$385,013	7.7%
Net Inventory Sales	$0
Other Revenue	$3,991,476	79.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$32,379,198
Total Liabilities	$70,678
Net Assets	$32,308,520

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Aug.
2013

Revenue

$3,751,593

Expenses

$826,711

Net Income

$2,924,882

Net Assets

$28,064,221

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$29,144	0.8%
Program Services	$0
Investment Income	$642,321	17.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$252,545	6.7%
Net Inventory Sales	$0
Other Revenue	$2,827,583	75.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$28,131,727
Total Liabilities	$67,506
Net Assets	$28,064,221

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Aug.
2012

Revenue

$3,161,720

Expenses

$845,690

Net Income

$2,316,030

Net Assets

$25,139,339

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$567,591	18.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$379,562	12.0%
Net Inventory Sales	$0
Other Revenue	$2,214,567	70.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$25,209,821
Total Liabilities	$70,482
Net Assets	$25,139,339

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Aug.
2011

Revenue

$2,875,159

Expenses

$788,248

Net Income

$2,086,911

Net Assets

$22,823,309

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$200	0.0%
Program Services	$0
Investment Income	$473,582	16.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$677,372	23.6%
Net Inventory Sales	$0
Other Revenue	$1,724,005	60.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$22,893,653
Total Liabilities	$70,344
Net Assets	$22,823,309

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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The Academy Research And Development Institute

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue −$1M (2023)

Expenses $2.1M (2023)

Total Assets $44.2M (2023)

Total Liabilities $19.2k (2023)

Tax Filings by Year

Fiscal Year Ending June 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

990-T

Fiscal Year Ending June 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending June 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending June 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

990-T

Fiscal Year Ending Aug. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Aug. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Aug. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Aug. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Aug. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Aug. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Aug. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Aug. 2011

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

Revenue

−$1M (2023)

Expenses

$2.1M (2023)

Total Assets

$44.2M (2023)

Total Liabilities

$19.2k (2023)

Fiscal Year Ending June
2023

Fiscal Year Ending June
2022

Fiscal Year Ending June
2021

Fiscal Year Ending June
2020

Fiscal Year Ending Aug.
2019

Fiscal Year Ending Aug.
2018

Fiscal Year Ending Aug.
2017

Fiscal Year Ending Aug.
2016

Fiscal Year Ending Aug.
2015

Fiscal Year Ending Aug.
2014

Fiscal Year Ending Aug.
2013

Fiscal Year Ending Aug.
2012

Fiscal Year Ending Aug.
2011

Fiscal Year Ending Aug.
2010

Fiscal Year Ending Aug.
2009

Fiscal Year Ending Aug.
2008

Fiscal Year Ending Aug.
2007

Fiscal Year Ending Aug.
2006

Fiscal Year Ending Aug.
2005

Fiscal Year Ending Aug.
2004

Fiscal Year Ending Aug.
2003

Fiscal Year Ending Aug.
2002

Fiscal Year Ending Aug.
2001