THE AIR FORCE AID SOCIETY RELIES ON TWO MAIN SOURCES OF REVENUE TO FUND OUR PROGRAMS AND OPERATING EXPENSES: MARKET-DRIVEN RETURNS ON OUR INVESTMENTS AND DONATIONS. 2020 FUNDING SOURCES
INVESTMENTS As the chart reflects, AFAS relies heavily on the returns from its investment portfolio to bridge the gap between donations raised and program support funded, representing almost 58% of the total oper- ating revenue in 2020. The investment portfolio is man- aged by the Society’s Finance Committee and headquarters staff, with advice provided by outside investment profession- als, to help fund the long-term goals of the Society. Each year, the committee sets the amount of funding that will be pulled from the investment portfolio to fund current year opera- tions. The spending rate for 2020 was set at 4.68% of the average portfolio value, re- sulting in the $9.05 million reflected in the chart. After a significant drop in value early in 2020 due to the economic tur- moil caused by the COVID-19 pandemic, the portfolio was able to bounce back strong- ly, increasing in value to over $227 million as of 12/31/2020.
Planned Investment Spending $9.05M
AFAF Campaign $1.76M
Private Donations $3.95M
USAF Charity Ball $880,000
AIR FORCE ASSISTANCE FUND The U.S. Air Force administers an annual Air Force Assistance Fund drive to benefit four important Air Force-affiliated charities, AFAS being key among them. In 2020, the AFAF campaign raised a total of $1.76 million for AFAS . The AFAF campaign truly demonstrates the Airman Helping Airman philosophy the Society was founded on. AIR FORCE CHARITY BALL The Air Force Officers’ Spouses’ Club of DC holds an annual Ball benefitting AFAS. Due to the COVID pandemic, the 2020 Air Force Charity Ball was cancelled. Despite this set-back, the wonderful corporate sponsors and individual contributors to the event allowed their payments to covert to donations, raising a net gift of $880,000 to AFAS ! PRIVATE DONATIONS AFAS also actively solicits funds from other sources. In 2020, $3.95 million in donations were received from other organizations and individuals to include estate bequests. This included two large grants from corporate partners USAA and Lockheed Martin totaling $3.5M to support COVID assistance to Airmen and Guardians. FOR EVERY $1 DONATED, AIR FORCE AID SOCIETY DEDICATES $3 TO HELP AIRMEN AND GUARDIANS.
AFAS.ORG / 2020 Annual Report
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