Madison Airport Board Inc
- Assets
- $12.0m
- Revenue
- $436.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, KY
- Founding
- 01/1980
- Data as of
- 06/2021
- EIN
- 31-0970397
Organization Overview
Madison Airport Board Inc is located in Richmond, KY. The organization was established in 1980. According to its NTEE Classification (W40) the organization is classified as: Public Transportation Systems, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison Airport Board Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2021, Madison Airport Board Inc generated $436.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.2%) each year. All expenses for the organization totaled $420.5k during the year ending 06/2021. 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
TO PROVIDE AIRPORT SERVICES TO RICHMOND, BEREA AND MADISON COUNTY AREAS IN KENTUCKY AND AVIATION TRAINING TO EASTERN KENTUCKY UNIVERSITY STUDENT AVIATION PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AIRPORT PROVIDES SERICES TO THE CITY OF RICHMOND, CITY OF BEREA, MADISON COUNTY AND EASTERN KENTUCKY UNIVERSITY STUDENT AVIATION PROGRAM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Tussey Vice Chairma | OfficerTrustee | 1 | $0 |
George Wyatt Chairman | OfficerTrustee | 5 | $0 |
Myron Fisher Treasurer | OfficerTrustee | 1 | $0 |
Dr Adrienne Millet MD President | OfficerTrustee | 1 | $0 |
Charles Conley Board Member | Trustee | 1 | $0 |
Dr Tim Ross Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Engieers Inc Engineer Services | 6/29/18 | $217,786 |
Central Seal Co Paving / Sealing | 6/29/18 | $100,274 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $340,531 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $340,531 |
| Total Program Service Revenue | $87,120 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $436,693 |
| 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 | $0 |
| 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 | $8,083 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,979 |
| Advertising and promotion | $126 |
| Office expenses | $1,970 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,635 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $328,047 |
| Insurance | $13,710 |
| All other expenses | $0 |
| Total functional expenses | $420,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $472,244 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,380 |
| 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 | $4,979 |
| Net Land, buildings, and equipment | $11,496,062 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,974,665 |
| Accounts payable and accrued expenses | $72,921 |
| 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 | $491,972 |
| Total liabilities | $564,893 |
| Net assets without donor restrictions | $11,409,772 |
| 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 | $11,974,665 |
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|---|---|---|
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Kansas City Streetcar Authority Kansas City, MO | $8,885,996 | $11,743,914 |
Southeast Missouri Transportation Service Inc Fredericktown, MO | $9,570,736 | $6,790,437 |
D19 Transportation Service Inc Stony Creek, VA | $1,091,605 | $1,951,596 |
West Virginia Public Transit Association Inc Charleston, WV | $114,713 | $1,722,468 |
Clay Senior And Community Services Inc Clay, WV | $687,187 | $2,205,176 |
Conference Of Minority Transportation Officials Alexandria, VA | $1,890,190 | $2,702,650 |
Airport Consultants Council Inc Alexandria, VA | $609,266 | $1,404,585 |
Potomac Highland Airport Authority Wiley Ford, WV | $37,096,729 | $4,100,665 |
South Central Ohio Transit Hillsboro, OH | $984,138 | $1,105,343 |
Galesburg Transit I Corporation Galesburg, IL | $176,336 | $958,966 |
Citizens For Modern Transit St Louis, MO | $3,588,713 | $989,959 |