Watauga Eagle Squadron Inc
- Assets
- $24.6k
- Revenue
- $43.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Elizabethton, TN
- Founding
- 06/2001
- Data as of
- 06/2022
- EIN
- 62-1844613
Organization Overview
Watauga Eagle Squadron Inc is located in Elizabethton, TN. The organization was established in 2001. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Watauga Eagle Squadron 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 06/2022, Watauga Eagle Squadron Inc generated $43.7k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $27.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (12.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATAUGA EAGLE SQUADRON'S DIRECT CHARITABLE ACTIVITY IS PROVIDING BELOW MARKET VALUE FLIGHT LESSONS TO STUDENTS IN SECONDARY SCHOOL IN AN EFFORT TO EDUCATE YOUTH REGARDING AVIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Brumit President | 0 | $0 | |
John Walter Brumit Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $36,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,693 |
| Total Revenue | $43,693 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $26,429 |
| Total operating and administrative expenses | $27,429 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $27,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,887 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $716 |
| Other assets | $0 |
| Total assets | $24,603 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Watauga Eagle Squadron Inc has recieved totaling $18,000.
| Awarding Organization | Amount |
|---|---|
Brumit Family Charitable Foundation Elizabethton, TN PURPOSE: TO PAY EXPENSES FOR SECONDARY SCHOOL STUDENTS TO ATTEND FLIGHT CLASSES | $18,000 |
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|---|---|---|
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Agecroft Association Richmond, VA | $24,452,362 | $3,235,294 |
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Purvis Grange Foundation Inc Vicksburg, MS | $22,570,376 | $2,355,706 |
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Beech Foundation Inc Conyers, GA | $2,116,092 | $45,755 |