Niagara Aerospace Museum
- Assets
- $118.8k
- Revenue
- $108.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Niagara Falls, NY
- Founding
- 11/1992
- Data as of
- 12/2023
- EIN
- 16-1419013
Organization Overview
Niagara Aerospace Museum is located in Niagara Falls, NY. The organization was established in 1992. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Niagara Aerospace Museum employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Niagara Aerospace Museum is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Niagara Aerospace Museum generated $108.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $156.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE THE MEMORY AND SPIRIT OF WESTERN NEW YORK AEROSPACE WORKERS AND PIONEERS BY SAFEKEEPING THE ARTIFACTS OF THEIR HERITAGE. THE ARTIFACTS ARE DISPLAYED IN A MANNER WHICH INSTRUCTS, EDUCATES, AND ENTERTAINS THE GENERAL PUBLIC, AND ENCOURAGES INTEREST IN AVIATION AND SPACE FLIGHT IN GENERAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2023 THE MUSEUM WELCOMED OVER 2,239 VISITORS TO ITS RECENTLY RENOVATED EXHIBITION SPACE. THE MUSEUM IS HOME TO AN IRREPLACABLE COLLECTION OF OVER 100 YEARS OF AVIATION AND AEROSPACE HISTORY STARTING WITH THE WRIGHT BROTHERS. THIS COMMUNITY DISPLAY IS NOT ONLY DESIGNED TO PRESERVE AND PROTECT THE HISTORIC ARTIFACTS BUT TO EDUCATE PRESENT AND FUTURE GENERATIONS OF THE IMPACT AVIATION HAS ON OUR LIVES. KNOWLEDGEABLE DOCENTS PROVIDE PERSONALLY GUIDED TOURS TO GUESTS AND THE MUSEUM REGULARLY HOSTS FIELD TRIPS FOR SCIENCE, MATH AND ENGINEERING CLASSES AS WELL AS VETERANS AND RESIDENTS OF RETIREMENT COMMUNITIES. THE MUSEUM HAS PARTNERED WITH THE BUFFALO PUBLIC SCHOOLS IN THEIR STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATH) PROGRAM TO PROVIDE A VENUE FOR HANDS ON LEARNING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald F Erwin President | OfficerTrustee | 10 | $0 |
Allison O'connor Vice President | OfficerTrustee | 10 | $0 |
Robert T Brady Trustee | Trustee | 2 | $0 |
Louis Knotts Trustee | Trustee | 2 | $0 |
Tim Balkin Trustee | Trustee | 2 | $0 |
Kathryn Nowicki Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $73,561 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $73,561 |
| Total Program Service Revenue | $13,085 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,859 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $108,199 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,326 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $500 |
| Advertising and promotion | $1,805 |
| Office expenses | $1,133 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $74,655 |
| Travel | $902 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,424 |
| Insurance | $25,591 |
| All other expenses | $1,217 |
| Total functional expenses | $156,142 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,357 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,500 |
| Prepaid expenses and deferred charges | $784 |
| Net Land, buildings, and equipment | $22,120 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $118,761 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $118,761 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $118,761 |