Liberty Aviation Museum Inc
- Assets
- $16.9m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Westlake, OH
- Founding
- 01/2011
- Data as of
- 07/2021
- EIN
- 27-3994236
Organization Overview
Liberty Aviation Museum Inc is located in Westlake, OH. The organization was established in 2011. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberty Aviation 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 07/2021, Liberty Aviation Museum Inc generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $1.4m during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENDITURES PAID TO MAINTAIN THE OPERATING ASSETS OF THE LIBERTY AVIATION MUSEUM AND TO OPERATE THE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Fujita Director Of Operatio | 40 | $66,000 | |
Connie Nieves Administrator | 40 | $54,000 | |
Edward Patrick Jr President/ceo | 1 | $0 | |
Carolyn M Maciag Secretary/treasurer | 1 | $0 | |
Matthew Maciag Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lucas Thompson | 7/30/20 | $126,375 |
American Marine Services | 7/30/20 | $67,360 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $606,086 |
| Interest on Savings | $0 |
| Dividends & Interest | $6,221 |
| Net Rental Income | $26,250 |
| Net Gain on Sale of Assets | -$41,500 |
| Capital Gain Net Income | $528,252 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $273,518 |
| Other Income | $198,726 |
| Total Revenue | $1,069,301 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $305,542 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $72,043 |
| Depreciation | $267,647 |
| Occupancy | $49,545 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $633,485 |
| Total operating and administrative expenses | $1,362,010 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,362,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,575 |
| Savings and temporary cash investments | $17,197 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,000 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $7,071,173 |
| Other assets | $9,576,864 |
| Total assets | $16,892,809 |
| Accounts payable and accrued expenses | $95,302 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $318,317 |
| Mortgages and other notes payable | $535,216 |
| Other liabilities | $0 |
| Total liabilities | $948,835 |
Grants Awarded
Over the last fiscal year, Liberty Aviation Museum Inc has awarded $13,884 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CAF RED TAIL PURPOSE: TO EDUCATE AUDIENCES ACROSS THE COUNTRY ABOUT THE HISTORY AND LEGACY OF THE TUSKEGEE AIRMEN. | $7,500 |
DOCS FRIENDS INC PURPOSE: TO PRESERVE AND RESTORE AIRCRAFT FOR HISTORICAL AND EDUCATIONAL PURPOSES. | $5,000 |
Port Clinton, OH PURPOSE: TO PRESERVE THE RICH HISTORY OF THE FORD TRI-MOTOR AIRPLANE AND ITS IMPORTANCE TO THE NORTHERN OHIO REGION. | $1,384 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brandywine Conservancy & Museum Of Art Chadds Ford, PA | $159,611,083 | $25,949,606 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Eiteljorg Museum Of American Indians And Western Art Inc Indianapolis, IN | $95,582,001 | $21,664,008 |
Grand Rapids Public Museum Grand Rapids, MI | $9,797,722 | $8,206,945 |
Weitzman National Museum Of American Jewish History Philadelphia, PA | $28,897,470 | -$14,023,866 |
Kentucky Derby Museum Corporation Louisville, KY | $35,033,343 | $10,633,125 |
Kalamazoo Aviation History Museum Portage, MI | $17,581,493 | $5,451,685 |
Museum Of African American History Detroit, MI | $6,150,822 | $7,565,645 |
Independence Seaport Museum Philadelphia, PA | $22,539,825 | $3,083,203 |
Muhammad Ali Museum And Education Louisville, KY | $31,131,591 | $4,563,188 |
The Masonic Library And Museum Of Pennsylvania Philadelphia, PA | $22,455,436 | $4,692,168 |
Lake States Dairy Center Inc Fair Oaks, IN | $6,073,141 | $3,616,020 |