Mid Atlantic Air Museum Inc
- Assets
- $6.0m
- Revenue
- $831.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Reading, PA
- Founding
- 06/1986
- Data as of
- 12/2021
- EIN
- 23-2159370
Organization Overview
Mid Atlantic Air Museum Inc is located in Reading, PA. The organization was established in 1986. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Mid Atlantic Air Museum Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid Atlantic Air Museum Inc 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 12/2021, Mid Atlantic Air Museum Inc generated $831.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $654.6k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MID ATLANTIC AIR MUSEUM WAS ORGANIZED TO ENSURE THE PROFESSIONAL STEWARDSHIP OF A COLLECTION THAT REFLECTS THE HISTORY OF AVIATION AND TO ENHANCE THE PUBLIC'S APRECIATION AND UNDERSTANDING OF THAT HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM ADMISSIONS - EDUCATES THE PUBLIC ON THE CONTRIBUTION VINTAGE AIRCRAFT HAVE ON AVIATION HISTORY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Strine Chairman | OfficerTrustee | 40 | $89,600 |
Brenda Saylor Secretary Treasurer | OfficerTrustee | 32 | $57,400 |
James Pusateri Director | Trustee | 2 | $0 |
Jeffrey Arentz Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $51,462 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $319,503 |
| Noncash contributions included in lines 1a–1f | $5,246 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $370,965 |
| Total Program Service Revenue | $2,546 |
| Investment income | $714 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,546 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $369,686 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $45,709 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $831,220 |
| 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 | $17,544 |
| Compensation of current officers, directors, key employees. | $147,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $21,726 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,058 |
| Payroll taxes | $13,200 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,345 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,164 |
| Office expenses | $4,522 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $238,736 |
| Travel | $12,740 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,502 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,899 |
| Insurance | $10,435 |
| All other expenses | $11,439 |
| Total functional expenses | $654,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,141 |
| Savings and temporary cash investments | $250,851 |
| Pledges and grants receivable | $144,218 |
| 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 | $66,673 |
| Prepaid expenses and deferred charges | $5,180 |
| Net Land, buildings, and equipment | $543,854 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $80,496 |
| Other assets | $4,902,234 |
| Total assets | $6,000,647 |
| Accounts payable and accrued expenses | $23,646 |
| 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 | $51,220 |
| Secured mortgages and notes payable | $372,928 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $447,794 |
| Net assets without donor restrictions | $5,408,635 |
| Net assets with donor restrictions | $144,218 |
| 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 | $6,000,647 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Mid Atlantic Air Museum Inc has recieved totaling $221,154.
| Awarding Organization | Amount |
|---|---|
Wyncote Foundation Philadelphia, PA PURPOSE: COVID-19 RELIEF | $175,000 |
Lancaster County Community Foundation Lancaster, PA PURPOSE: DESIGNATED FOR GENERAL OPERATING SUPPORT | $46,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $154 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gettysburg Foundation Gettysburg, PA | $96,770,268 | $15,954,577 |
National Constitution Center Philadelphia, PA | $153,929,623 | $18,487,505 |
Museum Of Jewish Heritage A Living Memorial To The Holocaust New York, NY | $55,434,280 | $9,656,219 |
Museum Of The American Revolution Philadelphia, PA | $136,106,228 | $14,346,373 |
National Baseball Hall Of Fame And Museum Inc Cooperstown, NY | $59,891,798 | $13,912,990 |
Eleutherian Mills-Hagley Foundation Inc Wilmington, DE | $219,223,690 | $13,522,481 |
Museum Of The City Of New York New York, NY | $66,852,822 | $13,898,529 |
National Veterans Memorial And Museum Operating Corporation Columbus, OH | $58,052,071 | $6,042,215 |
Lower East Side Tenement Museum New York, NY | $36,923,048 | $8,687,426 |
Dayton History Dayton, OH | $68,372,034 | $7,774,649 |
National Underground Railroad Freedom Center Inc Cincinnati, OH | $30,820,781 | $4,231,725 |
Genesee Country Museum Mumford, NY | $24,289,826 | $5,606,616 |