Fargo Air Museum
- Assets
- $4.0m
- Revenue
- $787.5k
- Investments
- $0.0
- Employees
- 9
- Location
- Fargo, ND
- Founding
- 02/1999
- Data as of
- 12/2021
- EIN
- 45-0451637
Organization Overview
Fargo Air Museum is located in Fargo, ND. The organization was established in 1999. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Fargo Air Museum employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fargo Air Museum 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 12/2021, Fargo Air Museum generated $787.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $807.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATE PUBLIC ABOUT AVIATION
Describe the Organization's Program Activity:
PROVIDED VIEWING TOURS OF AVIATION ARTIFACTS TO MORE THAN 20,000 PEOPLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Sweeney Board Chair | OfficerTrustee | $0 | |
Brian Martin Vice Chair | OfficerTrustee | $0 | |
Terry Scherling Secretary | OfficerTrustee | $0 | |
Cheryl Knudson Treasurer | OfficerTrustee | $0 | |
Tim Mcpherson Director | Trustee | $0 | |
Sherry Heyer Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $44,804 |
| All other contributions, gifts, grants, and similar amounts not included above | $548,548 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $593,352 |
| Total Program Service Revenue | $90,794 |
| Investment income | $19,236 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $75,018 |
| 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 | $5,265 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $787,514 |
| 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. | $48,146 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $278,894 |
| 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 | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $54,411 |
| Office expenses | $26,341 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,420 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $96,137 |
| Insurance | $10,041 |
| All other expenses | $141,236 |
| Total functional expenses | $807,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,231 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,191 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,763 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,657,661 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,105 |
| Other assets | $157,040 |
| Total assets | $3,974,991 |
| 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 | $416,843 |
| Total liabilities | $416,843 |
| 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 | $3,558,148 |
| Total liabilities and net assets/fund balances | $3,974,991 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Fargo Air Museum has recieved totaling $27,064.
| Awarding Organization | Amount |
|---|---|
Fargo-Moorhead Area Foundation Corporation Fargo, ND PURPOSE: GENERAL SUPPORT | $26,874 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $190 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Museum Of The Rockies Bozeman, MT | $31,412,475 | $8,834,590 |
Lake Superior Railroad Museum Duluth, MN | $1,428,444 | $1,322,754 |
Pavek Museum Of Broadcasting St Louis Park, MN | $6,139,052 | $709,013 |
Fargo Air Museum Fargo, ND | $3,974,991 | $787,514 |
Fagen Fighters Wwii Museum Granite Falls, MN | $11,353,510 | -$4,298 |
Minnesota Transportation Museum Inc St Paul, MN | $7,423,198 | $1,796,684 |
The James J Fiorentino Foundation Minneapolis, MN | $10,747,868 | $7,161,973 |
Powell County Museum & Arts Foundation Inc Deer Lodge, MT | $3,067,145 | $882,313 |
North American Bear Center Ely, MN | $4,129,859 | $714,928 |
North Dakota Buffalo Foundation Inc Jamestown, ND | $1,257,345 | $704,198 |
Cafesjian Art Trust Roseville, MN | $63,342,257 | $22,419,367 |
South Dakota Hall Of Fame Chamberlain, SD | $4,135,538 | $853,857 |