Mid Atlantic Air Museum Inc
- Assets
- $6.1m
- Revenue
- $813.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Reading, PA
- Founding
- 06/1986
- Data as of
- 12/2023
- 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 12/2023, Mid Atlantic Air Museum Inc employed 4 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 12/2023, Mid Atlantic Air Museum Inc generated $813.0k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $754.7k during the year ending 12/2023. 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
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.
SCHOLARSHIP ISSUED IN MEMORY OF FORMER OFFICER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Strine Chairman | OfficerTrustee | 40 | $89,600 |
James Pusateri Director | Trustee | 2 | $0 |
Jeffrey Arentz Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $47,810 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $211,084 |
| Noncash contributions included in lines 1a–1f | $75,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $258,894 |
| Total Program Service Revenue | $4,610 |
| Investment income | $1,279 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,546 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $495,399 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $37,942 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $813,026 |
| 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 | $22,070 |
| Compensation of current officers, directors, key employees. | $89,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $90,809 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,586 |
| Payroll taxes | $15,588 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,534 |
| Advertising and promotion | $4,595 |
| Office expenses | $4,665 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $199,481 |
| Travel | $4,393 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,547 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $92,977 |
| Insurance | $0 |
| All other expenses | $12,136 |
| Total functional expenses | $754,728 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,479 |
| Savings and temporary cash investments | $192,207 |
| Pledges and grants receivable | $99,925 |
| 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 | $53,956 |
| Prepaid expenses and deferred charges | $10,042 |
| Net Land, buildings, and equipment | $586,859 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $56,348 |
| Other assets | $4,999,124 |
| Total assets | $6,129,940 |
| Accounts payable and accrued expenses | $3,072 |
| 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 | $304,585 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $358,877 |
| Net assets without donor restrictions | $5,671,138 |
| Net assets with donor restrictions | $99,925 |
| 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 | $6,129,940 |