The FAAMA Foundation is a nonprofit organization that is based on the beliefs of the FAA Managers Association (FAAMA) to educate leadership values to prepare the leaders of tomorrow. The FAAMA Foundation was organized to establish a fund to provide scholarships for members of FAAMA and their spouses, children, and grandchildren.
In late 2016 FAAMA recognized a need to bring FAAMA’s scholarship program under more direct control and initiated creation of the FAAMA Foundation.
To do this correctly, it has required many steps to reach the point where the FAAMA Foundation could fully come into existence. The first of these steps was to create a separate corporation that while under the oversight of the FAAMA Board of Directors could still operate independently. This enabled the FAAMA Foundation to be formed as a 501(c)(3) corporation allowing any donations to be tax deductible.
Once the corporation was formed, approval had to be sought from the IRS to ensure the plan for the FAAMA Foundation met all the legal requirements. While this approval was pending in 2017, the AIRR Act was introduced and the threat of privatization became real. Due to the time commitments required to fight the AIRR Act, FAAMA Foundation work had to be set aside.
Shortly before the 2017 Convention, the IRS approved the FAAMA Foundation as a 501(c)(3). This allowed the acceptance of donations and pledges at the Convention. It also enabled the fifth Annual FAAMA Charity Golf Tournament to have the FAAMA Foundation as its charity.
The final two steps in creation of the FAAMA Foundation were completed during the Spring 2018 FAAMA Board of Directors meeting. The first was the adoption of the FAAMA Foundation Bylaws. The FAAMA Board of Directors reviewed the final version of the bylaws and they passed unanimously.
With the Foundation Bylaws in place, a Board of Directors was needed to run the FAAMA Foundation. Appointment and confirmation of FAAMA Foundation Directors is how the FAAMA Board of Directors will maintains oversight over the FAAMA Foundation.
FAAMA President Andy Taylor appointed three FAAMA Foundation Directors:
- Sheri Baker is Foundation Chair
- Former Professional Women Controllers President Robin Rush is Foundation Treasurer for a two-year term; and
- Chapter 382 Member Andy Singer is Foundation Secretary for a one-year term.
The FAAMA Board of Directors unanimously confirmed the appointed Directors.
The FAAMA Foundation Board is working diligently to make the new Foundation operational and will have an exhibit booth at the 2022 FAAMA Convention in Orlando. Scholarships will be awarded in 2022 for the 2022-2023 school year. Look for announcements about scholarships available from the FAAMA Foundation in future issues of Managing the Skies.