University Of Michigan Flyers Inc
- Assets
- $1.5m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Ann Arbor, MI
- Founding
- 05/1976
- Data as of
- 12/2023
- EIN
- 38-2055116
Organization Overview
University Of Michigan Flyers Inc is located in Ann Arbor, MI. The organization was established in 1976. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 12/2023, University Of Michigan Flyers Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Michigan Flyers Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, University Of Michigan Flyers Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $1.0m during the year ending 12/2023. While expenses have increased by 10.1% per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE PROMOTE A PASSION FOR AVIATION THROUGH OWNERSHIP, LEASE AND MAINTENANCE OF A SMALL FLEET OF AIRCRAFT, AND WITH THAT FLEET, WE PROVIDE PILOT TRAINING, FLIGHT INSTRUCTION AND FLYING TIME TO OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, THE MICHIGAN FLYERS OPERATED TEN CESSNA AIRCRAFT FOR A COMBINED TOTAL OF JUST UNDER 10,000 HOURS OF FLIGHT TIME. CLUB MEMBERSHIP IS WELL INTO THE HUNDREDS WITH A LARGE PORTION OF THOSE MEMBERS ACTIVELY FLYING EACH MONTH. A HANDFUL OF OUR MEMBERS ARE ALSO CERTIFICATED FLIGHT INSTRUCTORS (CFIS) WHO ACT AS INDEPENDENT CONTRACTORS TO HELP OUR MEMBERS ACHIEVE NEW LICENSES AND RATINGS FROM THE BASIC PRIVATE PILOT'S CERTIFICATE TO MORE ADVANCED RATINGS LIKE INSTRUMENT,COMMERCIAL, AND CFI. THE CLUB MAINTAINED AN EXCELLENT SAFETY RECORD, WITH ZERO INCIDENTS. DESPITE EVER-INCREASING COSTS,THE CLUB CONTINUED TO EMPHASIZE AFFORDABILITY FOR ITS MEMBERS, THUS MAKING AVIATION ACCESSIBLE TO THOSE WHO MAY NOT OTHERWISE HAVE SUFFICIENT MEANS. THIS AFFORDABILITY IS MAINTAINED IN LARGE PART THANKS TO EXTENSIVE VOLUNTEER ACTIVITY,INCLUDING A GROUP WHICH MET WEEKLY TO CLEAN AND RESUPPLY CLUB AIRCRAFT, HANGARS, AND OTHER FACILITIES. IN ADDITION, WE GATHERED FOR MANY CLUB EVENTS, SOME ORGANIZED BY VOLUNTEERS AND OTHERS ORGANIZED ORGANICALLY. THESE EVENTS RANGED FROM COOKOUTS AND MEMBER MEETINGS WITH TOPICAL PRESENTATIONS BY INTERNAL AND EXTERNAL SPEAKERS ON SUBJECTS LIKE METEOROLOGY AND AVIATION SAFETY, TO CLUB FLY-OUTS TO DESTINATIONS NEAR AND FAR, LIKE NIAGARA FALLS, CHICAGO, MACKINAC ISLAND, AND THE YEARLY EAA AIRVENTURE EVENT IN OSHKOSH, WI. AIRCRAFT WERE MAINTAINED BOTH INTERNALLY BY PART TIME STAFF, AS WELL ASSEVERAL LOCAL MAINTENANCE OPERATORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Williams General Manager | OfficerTrustee | 10 | $12,002 |
James Power President | OfficerTrustee | 5 | $0 |
Jacob Smith Treasurer | OfficerTrustee | 3 | $0 |
Fred Hall Vice-President | OfficerTrustee | 3 | $0 |
Chris Ballard Secretary | OfficerTrustee | 1 | $0 |
Matthew Remington Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,129,820 |
| Investment income | $11,086 |
| 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 | -$540 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,140,366 |
| 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. | $12,002 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $66,884 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,217 |
| Payroll taxes | $6,050 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,131 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $696 |
| Office expenses | $29,938 |
| Information technology | $7,032 |
| Royalties | $0 |
| Occupancy | $90,199 |
| Travel | $398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,148 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $95,390 |
| Insurance | $164,642 |
| All other expenses | $3,512 |
| Total functional expenses | $1,046,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $637,578 |
| Savings and temporary cash investments | $243,500 |
| 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 | $8,710 |
| Prepaid expenses and deferred charges | $92,890 |
| Net Land, buildings, and equipment | $563,397 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,546,075 |
| Accounts payable and accrued expenses | $128,781 |
| Grants payable | $0 |
| Deferred revenue | $155,958 |
| 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 | $68,217 |
| Total liabilities | $352,956 |
| 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 | $1,193,119 |
| Total liabilities and net assets/fund balances | $1,546,075 |