The Virginia Air And Space Center
- Assets
- $2.4m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 64
- Location
- Hampton, VA
- Founding
- 11/1988
- Data as of
- 06/2022
- EIN
- 54-1447096
Organization Overview
The Virginia Air And Space Center is located in Hampton, VA. The organization was established in 1988. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Virginia Air And Space Center employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Air And Space Center 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 06/2022, Virginia Air And Space Center generated $3.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $3.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 7 years. 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 EDUCATE, ENTERTAIN, AND INSPIRE EXPLORERS OF ALL AGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATTENDANCE TO THE MUSEUM FOR THIS FISCAL YEAR WAS 57,345. INCLUDED IN TOTAL VISITATION WERE 20,192 STUDENTS WHO VISITED THE MUSEUM. ALSO SERVED A TOTAL OF 20,998 STUDENTS IN THE OUTREACH PROGRAM MAINLY VIRTUALLY. THE MUSEUM FEATURES OVER 166 EXHIBITS, INCLUDING 19 AIRCRAFTS, 7 SPACE CRAFTS, 2 ROCKETS AND 1 LUNAR HABITAT.
EDUCATIONAL PROGRAMS - STAFF DEVELOPED AND IMPLEMENTED 8 DIFFERENT VIRTUAL EDUCATIONAL PROGRAMS SERVING 22,877 STUDENTS IN 5TH AND 8TH GRADE, 10 CAMP-IN AND 10 IN-PERSON,AND 9 WEEKS OF STEM BASED SUMMER CAMP PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Griesmer Executive Di | Officer | 40 | $250,000 |
David Holt Secretary | OfficerTrustee | 3 | $0 |
William T Saunders Jr Treasurer | OfficerTrustee | 3 | $0 |
Dr Jeffrey Smith President | OfficerTrustee | 3 | $0 |
L'allegro Smith Exec. Vice P | OfficerTrustee | 3 | $0 |
Steve Bond Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $139,760 |
| Fundraising events | $0 |
| Related organizations | $22,604 |
| Government grants | $1,718,899 |
| All other contributions, gifts, grants, and similar amounts not included above | $220,826 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,102,089 |
| Total Program Service Revenue | $1,066,379 |
| Investment income | $2,064 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $33,918 |
| 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 | $79,930 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,284,380 |
| 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. | $250,000 |
| Compensation of current officers, directors, key employees. | $250,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $869,639 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $139,021 |
| Payroll taxes | $77,211 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $206,312 |
| Advertising and promotion | $237,457 |
| Office expenses | $14,822 |
| Information technology | $34,617 |
| Royalties | $38,283 |
| Occupancy | $218,462 |
| Travel | $1,483 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,992 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $71,062 |
| All other expenses | $184,375 |
| Total functional expenses | $2,973,118 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,572 |
| Savings and temporary cash investments | $1,822,455 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,945 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $150,812 |
| Prepaid expenses and deferred charges | $27,467 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $416,472 |
| Total assets | $2,430,723 |
| Accounts payable and accrued expenses | $240,381 |
| 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 | $246,615 |
| Other liabilities | $425,185 |
| Total liabilities | $912,181 |
| Net assets without donor restrictions | $1,516,667 |
| Net assets with donor restrictions | $1,875 |
| 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 | $2,430,723 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that The Virginia Air And Space Center has recieved totaling $73,755.
| Awarding Organization | Amount |
|---|---|
Hampton Roads Community Foundation Norfolk, VA PURPOSE: STEM 360 EXPANSION PROJECT | $20,000 |
Howmet Aerospace Foundation Pittsburgh, PA PURPOSE: STEM 360 PROGRAM & RESEARCH STUDY | $20,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $10,000 |
Nisource Charitable Foundation Columbus, OH PURPOSE: CORPORATE DONATION | $10,000 |
Langley For Families - The Foundation Of Lfcu Newport News, VA PURPOSE: CONTRIBUTED FUNDS TO LOCAL 501(C)(3) ORGANIZATIONS TO PROVIDE THE UNDERSTANDING OF FINANCIAL LITERACY IN THE COMMUNITY. | $8,750 |
Dominion Energy Charitable Foundation Richmond, VA PURPOSE: PORTSMOUTH & SUFFOLK 8TH GRADE SCIENCE REIMAGINED INITIATIVE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Discovery Place Inc Charlotte, NC | $111,200,822 | $10,179,677 |
Maryland Science Center Baltimore, MD | $34,486,010 | $6,432,096 |
The Kentucky Science Center Inc Louisville, KY | $5,223,902 | $4,115,750 |
Virginia Aquarium & Marine Science Center Foundation Inc Virginia Beach, VA | $33,681,382 | $4,535,734 |
The Virginia Air And Space Center Hampton, VA | $2,430,723 | $3,284,380 |
Kaleideum Winstonsalem, NC | $17,183,226 | $3,243,264 |
Jason Learning Ashburn, VA | $5,870,552 | $2,710,419 |
Catawba Science Center Inc Hickory, NC | $7,857,553 | $1,772,591 |
Great Smoky Mountain Heritage Center Inc Townsend, TN | $3,656,397 | $974,256 |
Science Museum Of Western Virginia Roanoke, VA | $461,302 | $956,745 |
Bha Automobile Museum Inc Hunt Valley, MD | $29,558,452 | $1,782,568 |
Maryland Technology Museum Inc Hunt Valley, MD | $48,995 | $293,094 |