SCHRIEVER AIR FORCE BASE, Colo. --
Team Schriever accepted $126,409.38 from the Army and Air Force Exchange Service Dividends Program for fiscal year 2019 at Schriever Air Force Base, Colorado, July 22, 2020, a $4,000 increase from fiscal year 2018.
Money generated from the AAFES Dividends Program goes toward supporting the military community and morale activities run by Air Force Services and Morale Welfare and Recreation. Some of those activities include child, youth and school services, Armed Forces recreation centers.
The dividends are deposited into a single non-appropriated account where money can be used to operated and fund base activities depending on the needs of the installation.
“The dividends are a portion of our overall earnings for the services we provide for Schriever,” said Lawrence Simmons, Exchange general manager for Colorado Springs. “Every month, Air Force Services receives a report on how much the facility generates. At the end of our fiscal year, after we do the audit, we have the opportunity to present a check representing the dividend earned over the last fiscal year.”
In fiscal year 2019, AAFES generated $369 million in earnings and provided $217 million in dividends to the Armed Forces. Of that $217 million, AAFES provided $75 million in dividends to the Air Force.
“It’s a great partnership that we have with the Exchange,” said Col. James Smith, 50th Space Wing commander. “The service they provide every day and the payback we get supports our Airmen in a variety of ways.”
Schriever uses a portion of those dividends to assist 50th Force Support Squadron with activities such as Summer Slam, Fall Festival, Children’s Holiday Fest and Spring Fling.
“This year, because of COVID, those [activities] were derailed, but thanks to the partnership with the exchange, we were able to offer those events,” Smith said. “We offer those 100 percent free to base members and families, and that’s been a great benefit to our team over the years.”
The 50th FSS also uses the money for other endeavors throughout the squadron.
“We reinvest in outdoor recreation using the money on trailers and other outdoor recreation equipment,” said Gabriel Laramie, 50th FSS deputy commander. “Those dividends go into the MWR fund and we’re able to invest that [money] to support the Airmen. The goal for us is to provide free or low-cost, high-quality equipment for the Airmen stationed at Schriever.”