The Falcon Foundation
The mission of the Falcon Foundation is to further the opportunity for highly motivated, exceptional, young men and women to attend the united states air force academy through the award of Falcon Foundation scholarships at junior college and preparatory schools, enabling them to pursue a career in the united states air force and space force.
The Falcon Foundation at a glance
In short: The Falcon Foundation gave $631K across 6 grants in 2025 (avg $105K), top state California. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $631,255
- +3.4% vs 2024
- Grants made (2025)
- 6
- +0.0% vs 2024
- Average grant
- $105,209
- +3.4% vs 2024
- Median grant
- $88,088
- Total assets
- $37,359,903
- +11.1% vs 2024
- Primary geography
- California (34% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who The Falcon Foundation funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2025
The largest 2025 recipient was Northwestern Preparatory ($216K). Together the top 5 received $592K.
Organizations only. It also paid 1 individual scholarship ($39,530), which are not listed by name.
Grant Size Distribution
30 grants across all recorded years
The most common grant size was in the $50–100K range: 13 grants of 30 (43%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 6 itemized grants.
Cities
How The Falcon Foundation gives
- Giving held roughly steady from 2022 to 2025 (+0%). Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $611K (2024) to $673K (2020). In 2025 it made 6 grants totaling $631K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Northwestern Preparatory Crestline, CA | Scholarship Payments | $216,250 |
| Randolph-Macon Academy Front Royal, VA | Scholarship Payments | $135,300 |
| Marion Military Institute Marion, AL | Scholarship Payments | $110,175 |
| United States Air Force Academy Usafa, CO | Support of Academy Programs | $66,000 |
| Georgia Military College Milledgeville, GA | Scholarship Payments | $64,000 |
| 1 individual scholarship Recipients not named | — | $39,530 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $37,359,903 | $1,561,375 | $1,014,051 | $631,255 | 6 | $1,139,984 |
| 2024 | $33,635,989 | $1,678,308 | $958,343 | $610,724 | 6 | $1,255,452 |
| 2023 | $30,097,529 | $1,362,520 | $979,290 | $642,230 | 6 | $648,672 |
| 2022 | $27,349,107 | $1,004,255 | $868,045 | $630,338 | 6 | $713,436 |
| 2021 | $32,351,100 | $1,239,304 | $874,342 | $645,077 | 6 | $923,611 |
| 2020 | $25,567,619 | $942,868 | $921,982 | $672,938 | 6 | $626,112 |
| 2019 | $25,769,450 | $827,933 | $1,072,407 | $663,539 | 7 | $592,698 |
About The Falcon Foundation
Based on IRS filings
The Falcon Foundation is a public charity focused on Education, based in Usaf Academy, CO. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $37.4M in total assets. In 2025, it awarded 6 grants totaling $631K. Net investment income was $1.1M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
The Falcon Foundation is led by Steve Lorenz, President & CEO since 2025 (on filings since 2021); 2 of 20 officers listed in 2025 are compensated.
Officers on the 2025 filing
Steve Lorenz
President & CEO
President → President & CEO, 2025
On filings since 2021
20 hrs/week
$23K (2021) → $127K (2025)
Carolyn Benyshek
Scholarship Committee Chair
On filings since 2019
1 hr/week
No compensation reported
Jason Herman
Finance Committee Chair
On filings since 2019
1 hr/week
No compensation reported
John Dallager
Compensation Committee Chair
On filings since 2019
1 hr/week
No compensation reported
Leon Johnson
Nominating Committee Chair
At Large Governing Trustee → Nominating Committee Chair, 2020
On filings since 2019
1 hr/week
No compensation reported
Nicholas Wilson
Audit Committee Chair
On filings since 2019
1 hr/week
No compensation reported
William Begert
Chairman
Vice Chairman → Chairman & Vice Chairman, 2020
Chairman & Vice Chairman → Chairman, 2021
On filings since 2019
1 hr/week
No compensation reported
Eric Holt
Investment Committee Chair
On filings since 2024
1 hr/week
No compensation reported
Carrol Chandler
Governor & Strat Committee Chair
New on the 2025 filing
1 hr/week
No compensation reported
William Looney TrusteeTo
Chairman
New on the 2025 filing
1 hr/week
No compensation reported
Sharon Cooper
Director of Op & Comptroller
On filings since 2024
40 hrs/week
$107K (2024) → $110K (2025)
Janet Wolfenbarger
At Large Governing Trustee
On filings since 2024
1 hr/week
No compensation reported
Michael Moeller
At Large Governing Trustee
On filings since 2024
1 hr/week
No compensation reported
Kate MacIntosh TO
At Large Governing Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Sue Ross
At Large Governing Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Dale Meyerrose
Treasurer
On filings since 2019
1 hr/week
No compensation reported
Matthew Byrd
Vice President
On filings since 2019
1 hr/week
No compensation reported
Rita Jordan
Secretary
On filings since 2019
1 hr/week
No compensation reported
Jarisse Sanborn
Vice President & General Counsel
On filings since 2022
1 hr/week
No compensation reported
Robin Rand
Vice Chairman
On filings since 2024
1 hr/week
No compensation reported
Former officers (22)
- Former: Kate MacIntosh (2019–2024) — At Large Governing Trustee
- Former: William Looney (2021–2024) — At Large Governing Trustee
- Former: Charles Heflebower To (2024) — At Large Governing Trustee
- Former: Edward Rice To (2024) — Governor & Strat Committee Chair
- Former: Howie Chandler (2024) — Governor & Strat Committee Chair · Filing note: From 42024
- Former: Kathy Barchick To (2024) — Investment Committee Chair
- Former: Charles Heflebower (2019–2023) — At Large Governing Trustee
- Former: Edward Rice (2019–2023) — Governor & Strat Committee Chair
- Former: Kathy Barchick (2019–2023) — Investment Committee Chair
- Former: Tony Robertson (2020–2023) — Vice Chairman
- Former: Robin Rand Interim VC (2023) — Vice Chairman
- Former: Susan Desjardins to (2023) — At Large Governing Trustee
- Former: Andrea Andersen (2019–2022) — Vice President & General Counsel
- Former: Susan Desjardins (2019–2022) — At Large Governing Trustee
- Former: Jay Kelley (2019–2021) — Former President
- Former: Donald Shepperd (2019–2020) — Nominating Committee Chair
- Former: Terry Gabreski (2019–2020) — Governance & Strategy Chair
- Former: Victor E Renuart (2019–2020) — Chairman
- Former: Alan Rogers (2019) — Compensation Committee Chair
- Former: Dana Born (2019) — At Large Governing Trustee
- Former: John Hopper (2019) — Scholarship Committee Chair
- Former: Mal Wakin (2019) — Ethics Advisor
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $127K, to Steve Lorenz (President & CEO). 2 officers or directors reported compensation on that filing.
Frequently asked questions about The Falcon Foundation
How much does The Falcon Foundation give each year?
The Falcon Foundation gave $631K across 6 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $611K across 6 grants.
What is The Falcon Foundation's typical grant size?
The Falcon Foundation's median grant in 2025 was $88,088, and its average grant was $105,209, across 6 grants on its 2025 IRS Form 990.
Where does The Falcon Foundation give grants?
The Falcon Foundation's top state is California, with 34% of the grant dollars itemized on its 2025 IRS Form 990. The next largest states were Virginia (21%) and Alabama (17%).
Does The Falcon Foundation give general operating support?
Not in 2025: none of the 6 grants with a stated purpose on The Falcon Foundation's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Scholarship Payments" (5 grants).
Who are The Falcon Foundation's largest grantees?
The Falcon Foundation's largest 2025 grantees include Northwestern Preparatory ($216,250), Randolph-Macon Academy ($135,300) and Marion Military Institute ($110,175), according to its 2025 IRS Form 990. It also paid 1 individual scholarship ($39,530), which are not listed by name. Together they received 73% of its itemized 2025 grant dollars.
How large is The Falcon Foundation?
The Falcon Foundation reported $37.4M in total assets on its 2025 IRS Form 990. Its revenue that year was $1.6M.
What is The Falcon Foundation?
The Falcon Foundation is a public charity focused on Education, based in Usaf Academy, CO. It holds $37.4M in total assets as of 2025.
What is The Falcon Foundation's EIN?
The Falcon Foundation's EIN (Employer Identification Number) is 75-6016930. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2024 (received by the IRS January 31, 2025)
- Updated Form 990 for fiscal year 2025 (received by the IRS February 23, 2026)
- Updated Form 990 for fiscal year 2019 (received by the IRS February 17, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS March 3, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS October 29, 2021)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 14, 2022)
- Updated Form 990 for fiscal year 2023 (received by the IRS February 6, 2024)
Live grants for the work The Falcon Foundation funds
Education Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in The Falcon Foundation's focus areas in our free grants database
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