Nonprofit · EIN 20-1351869
FALCONWORKS
Tax-exempt · COLORADO SPGS, CO 80906
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $13 | $378 | -$365 | $29,471 | – | $29,471 |
| December 31, 2023 | 990-EZ | $78 | $1,497 | -$1,419 | $29,836 | – | $29,836 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Investment income
- $13
Expenses
- Compensation of officers, directors and key employees
- $0
- Other expenses
- $378
- Program services (functional)
- $378
Balance sheet and other
- Total assets, start of year
- $29,836
- Total assets, end of year
- $29,471
- Total liabilities, end of year
- –
- Net assets, end of year
- $29,471
- Cash, savings and investments
- $27,481
- Gross receipts
- $13
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DUNCAN STEWART | Pres & Chairman | 2 | $0 |
| DAVID GUSTAVSSON | Director | 0.25 | $0 |
| SCOTT REA | SEC / TREASURER | 1 | $0 |
| DON HOLMES | Director | 0.25 | $0 |
| DEL CHRISTMAN | Director | 0.25 | $0 |
| MARK VALENTINE | Director | 0.25 | $0 |
990-EZ for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DUNCAN STEWART | Pres & Chairman | 2 | $0 |
| DAVID GUSTAVSSON | Director | 0.25 | $0 |
| SCOTT REA | SEC / TREASURER | 1 | $0 |
| DON HOLMES | Director | 0.25 | $0 |
| DEL CHRISTMAN | Director | 0.25 | $0 |
| MARK VALENTINE | Director | 0.25 | $0 |
Address and contacts
- Address (IRS master file)
- 1227 LAKE PLAZA DR STE B, COLORADO SPGS, CO 80906-7402
- In care of
- % DUNCAN H STEWART
- Signed the 990-EZ
- DUNCAN STEWART, Treasurer
- Phone
- (719) 650-4103
- Website
- WWW.FALCONWORKS.ORG
- Return prepared by
- M3 and Associates LLP
Mission
FALCONWORKS ACTS AS AN "INNOVATION HUB" BY BRINGING TOGETHER COMMUNITY NEEDS, DESIGN AND DEVELOPMENT CAPABILITIES AT THE U.S. AIR FORCE ACADEMY, AND FINANCING FROM THE PUBLIC AND CORPORATE SPONSORS. FALCONWORKS ACTIVELY SOLICITS PROJECTS IN THE COLORADO SPRINGS AREA THAT REQUIRE SCIENTIFIC OR ENGINEERING DESIGN WORK. FALCONWORKS SOLICITS GENERAL FUNDS FROM THE PUBLIC AND SPECIFIC PROJECT FINANCING FROM CORPORATE SPONSORS IN AN EFFORT TO MAKE PROTOTYPES AVAILABLE TO END USERS. FALCONWORKS THEN ARRANGES STUDENT-LED TEAMS (WITH FACULTY OVERSIGHT) AT THE U.S AIR FORCE ACADEMY TO DESIGN AND DEVELOP THE PRODUCTS. ANY REQUIRED MATERIALS ARE PAID FOR WITH FUNDS RAISED BY FALCONWORKS. IN EXCHANGE FOR PROVIDING THE DESIGN AND DEVELOPMENT LABOR, STUDENTS AT THE U.S. AIR FORCE ACADEMY GET TO PARTICIPATE IN REAL LIFE PROJECTS THAT BENEFIT THE COMMUNITY.
Program accomplishments
- INITIATED IN 2015: NEUROGROOVE IS DEVELOPING A HEAD MOUNTED SENSOR DRIVEN SYSTEM TO ALLOW QUADRAPLEGICS TO EVENTUALLY DRIVE AN AUTOMOBILE. THE FIRST DEVELOPMENTS ALLOW DRIVING A WHEEL CHAIR. COMPLETED IN 2019.INITIATED IN 2019: WEARABLE COOLING SYSTEM FOR QUADRIPLEGICS WITH BIOMETRIC CONTROLS. COMPLETED IN 2020.INITIATED IN 2020 AND CONTINUING THROUGH 2025: GAZE TRACKING SYSTEM FOR SEVERE QUADRIPLEGICS WITH NO NECK CONTROL TO USE EYE GAZE ONLY TO MANEUVER THEIR WHEELCHAIR AND CONTROL A ROBOTIC ARM.Expenses $378
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 20-1351869
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2005
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Human services (P40)
- Assets (IRS master file)
- $29,471
- Income (IRS master file)
- $13
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | $13 | $378 | $29,471 | XML |
| 990-EZ | December 2023 | $78 | $1,497 | $29,836 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-1351869).
Questions about FALCONWORKS
- What is the EIN of FALCONWORKS?
- The employer identification number (EIN) of FALCONWORKS is 20-1351869.
- Is FALCONWORKS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2005.
- Are donations to FALCONWORKS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FALCONWORKS file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of FALCONWORKS due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FALCONWORKS last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who are the officers and directors of FALCONWORKS?
- The 990-EZ for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
- How much revenue does FALCONWORKS have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $13, expenses of $378 and total assets of $29,471 at year end.
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