Institute Of Flight
- Assets
- $0.0
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 50
- Location
- Arlington, WA
- Founding
- Data as of
- 12/2018
- EIN
- 20-1638987
Organization Overview
Institute Of Flight, operating under the name Future Of Flight Foundation, is located in Arlington, WA. As of 12/2018, Future Of Flight Foundation employed 50 individuals. Future Of Flight Foundation 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 12/2018, Future Of Flight Foundation generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2018. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION: THE INSTITUTE OF FLIGHT INSPIRES AND NURTURES MULTI-GENERATIONAL LOCAL AND GLOBAL VISITORS THROUGH IMMERSIVE HANDS-ON EXHIBITS, TOURS, AND AEROSPACE EDUCATION EXPERIENCES.OUR VISION: IGNITING PASSION FOR THE FUTURE OF AEROSPACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE OF FLIGHT OPERATES THE FUTURE OF FLIGHT FACILITY FROM TOUR TICKET REVENUE COLLECTED ON BEHALF OF THE COUNTY AND POPULATES THE GALLERY WITH EXHIBITS AND EDUCATIONAL DISPLAYS FUNDED BY GIFTS, GRANTS AND DONATIONS, TO EDUCATE THE PUBLIC OF THE SIGNIFICANCE OF INNOVATION IN COMMERCIAL AVIATION AND THE IMPACT IT HAS ON THEIR DAILY LIVES.
EXHIBITS - EXHIBITS ARE PROVIDED IN THE FACILITY GALLERY THAT HIGHLIGHT THE SIGNIFICANCE OF COMMERCIAL AVIATION AND THE INNOVATIONS CREATED BY AEROSPACE ENGINEERING.
EDUCATION - THE INSTITUTE OF FLIGHT HAS DEVELOPED AND IMPLEMENTED EDUCATIONAL PROGRAMS. THESE PROGRAMS INVOLVE MIDDLE SCHOOL CHILDREN IN IMMERSIVE LEARNING PROGRAMS WITH BOTH CLASSROOM INSTRUCTION AND ON-SITE (FUTURE OF FLIGHT) SESSIONS, INCLUDING A FAMILY ZONE AREA WITH HANDS ON INTERACTIVE LEARNING EXHIBITS. THESE PROGRAMS EMPHASIZE SCIENCE, TECHNOLOGY, ENGINEERING, ART AND MATH (STEAM).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cameron Percy President | OfficerTrustee | 4 | $0 |
Mary Kaye Bredeson Vice President | OfficerTrustee | 2 | $0 |
Akhil Patel Treasurer | OfficerTrustee | 2 | $0 |
Terry Walker Secretary | OfficerTrustee | 2 | $0 |
Nicholas Patrick Past President | Trustee | 2 | $0 |
Paul Pitre Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,386 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,383 |
| Noncash contributions included in lines 1a–1f | $2,246 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,769 |
| Total Program Service Revenue | $1,763,338 |
| Investment income | $393 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$92,681 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,701,202 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $576,556 |
| 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. | $353,976 |
| Compensation of current officers, directors, key employees. | $137,299 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $902,786 |
| Pension plan accruals and contributions | $9,354 |
| Other employee benefits | $93,063 |
| Payroll taxes | $116,311 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,034 |
| Fees for services: Accounting | $49,874 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,665 |
| Advertising and promotion | $99,001 |
| Office expenses | $47,539 |
| Information technology | $19,758 |
| Royalties | $0 |
| Occupancy | $9,684 |
| Travel | $1,621 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,818 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,702 |
| Insurance | $8,431 |
| All other expenses | $4,647 |
| Total functional expenses | $2,451,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |