Dakota Territory Air Museum Inc
- Assets
- $3.7m
- Revenue
- $350.1k
- Investments
- $0.0
- Employees
- 10
- Location
- Minot, ND
- Founding
- 04/1987
- Data as of
- 12/2022
- EIN
- 36-3463201
Organization Overview
Dakota Territory Air Museum Inc is located in Minot, ND. The organization was established in 1987. 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 12/2022, Dakota Territory Air Museum Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dakota Territory 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 12/2022, Dakota Territory Air Museum Inc generated $350.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $421.3k during the year ending 12/2022. While expenses have increased by 1.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE HISTORICAL AIRCRAFT FROM THROUGHOUT HISTORY AND EDUCATE THE PUBLIC REGARDING AVIATION IMPACT ON THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVE HISTORICAL AIRCRAFT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Larson President | OfficerTrustee | 20 | $0 |
Rich Larcombe Vice President | OfficerTrustee | 5 | $0 |
Warren Pietsch Director | Trustee | 5 | $0 |
Mike Chilson Treasurer | OfficerTrustee | 5 | $0 |
Lee Keller Director | Trustee | 4 | $0 |
Austin Greenheck Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $526,304 |
| Membership dues | $170,228 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $696,532 |
| Total Program Service Revenue | $0 |
| Investment income | $540 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$348,345 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,374 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $350,101 |
| 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 | $94,428 |
| 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 | $1,891 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,300 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,909 |
| Travel | $178 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,493 |
| All other expenses | $51,081 |
| Total functional expenses | $421,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $350,206 |
| Savings and temporary cash investments | $1,492,444 |
| 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 | $1,848,306 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,690,956 |
| 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 | $1,776 |
| Total liabilities | $1,776 |
| Net assets without donor restrictions | $0 |
| 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 | $3,689,180 |
| Total liabilities and net assets/fund balances | $3,690,956 |