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Air Force Aid Society
The Air Force Aid Society was incorporated in 1942 to deliver financial relief and education aid to Air Force and Space Force communities. Maj. Gen.
Air Force Aid Society
The Air Force Aid Society was incorporated in 1942 to deliver financial relief and education aid to Air Force and Space Force communities. Maj. Gen. Ed Thomas (Ret.) serves as chief executive. The endowment generates returns that fund annual disbursements exceeding $15 million. Investment allocation includes 34.78 percent in private equity. Holdings encompass limited partner interests in Adams Street 2015 Global Fund, Adams Street 2016 Global Fund, Commonfund Natural Resources X, and Commonfund Natural Resources XI. Public positions cover Northern Trust U.S. Investable Market Index Fund, State Street MSCI EAFE Index Fund, and Acadian Emerging Markets Equity Fund. Geographic exposure spans the United States and global markets through these vehicles. The organization maintains 38 professionals at its Arlington headquarters. Service providers include Cliffwater LLC since 2004 for investment advice, NEPC since 2021, Northern Trust as custodian since 2016, and Marcum LLP as auditor. A March 2024 sponsorship of the USAF Charity Ball supported fundraising for Air Force and Space Force families. Governance rests with a board that includes executives from SAIC and Cliffwater LLC. This structure ties investment oversight directly to the U.S. military services that designate the society as their official charity, creating a closed beneficiary relationship without external family principals.
General information
Firm type
Endowment / Foundation
Year founded
1942
Location
Region
North America
Country
United States
City
Arlington
Corporate office
1550 Crystal Drive Suite 809, Arlington, VA 22202, United States
Principals
Maj. Gen. Ed Thomas (Ret.)
Chief Executive Officer
James C. Reagan
Board President
Kathleen Barchick
Board Vice President
Sector focus
Frequently asked questions
Who runs investment decisions at Air Force Aid Society?
Board President James C. Reagan and Vice President Kathleen Barchick oversee the portfolio. Cliffwater LLC has served as investment advisor since 2004. NEPC provides additional advisory services since 2021.
Does Air Force Aid Society participate in fund commitments or only direct deals?
The endowment commits as a limited partner to private equity and natural resources funds. Confirmed positions include Adams Street Global Funds and Commonfund Natural Resources vehicles.
What asset classes does the endowment hold?
Public equity index funds, private equity, natural resources, and real estate REIT index funds appear in the portfolio. Private equity represents 34.78 percent of assets.
Where does the underlying mandate originate?
The society operates as the designated charity of the U.S. Air Force and U.S. Space Force. Its programs target emergency financial assistance and education for service members and families.
Which service providers support operations?
Northern Trust acts as custodian since 2016. Marcum LLP serves as auditor. GSD&M handles branding since 2024.
How are grants and loans distributed?
No-interest loans and grants flow through the Falcon Loan Program and direct assistance channels. Over 11,000 recipients received $12.5 million in 2023.
What geographic scope do investments cover?
Public and private holdings span the United States and international developed and emerging markets through index funds and global private equity vehicles.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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