Oklahoma Airmen Flying Club Inc
- Assets
- $403.2k
- Revenue
- $545.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Jenks, OK
- Founding
- 12/1978
- Data as of
- 11/2023
- EIN
- 73-6504927
Organization Overview
Oklahoma Airmen Flying Club Inc is located in Jenks, OK. The organization was established in 1978. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oklahoma Airmen Flying Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 11/2023, Oklahoma Airmen Flying Club Inc generated $545.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 49.0% each year . All expenses for the organization totaled $439.8k during the year ending 11/2023. While expenses have increased by 51.9% per year over the past 4 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
THE OKLAHOMA AIRMEN FLYING CLUB IS A NON-PROFIT GENERAL AVIATION ORGANIZATION ESTABLISHED IN TULSA, OKLAHOMA IN 1953. OUR GOAL HAS ALWAYS BEEN TO MAKE FLYING ACCESSIBLE, AFFORDABLE, SAFE AND FUN FOR AS MANY AVIATION ENTHUSIASTS AS POSSIBLE. OUR LONG-TERM GOAL IS TO CONTINUE TO HELP MORE PILOTS ACHIEVE THEIR AVIATION DREAMS BY GROWING AND EXPANDING OUR CLUB WHILE KEEPING OUR MEMBERSHIP FEES LOW AND AFFORDABLE AS WE GROW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RAFFLE PLANE FOR 2023 WAS A 2017 EXPERIMENTAL CUB N22NK, UNIQUE IN THAT IT QUALIFIES FOR A LSA "LIGHT SPORT," SO IT MEETS THE NEEDS OF EVERY PILOT LOOKING FOR A FUN AND AFFORDABLE AIRCRAFT TO FLY ON THE WEEKENDS. WITH 100 HP COMING FROM ITS CONTINENTAL 0-200, IT CLIMBS FAST, EVEN WHEN AT MAXIMUM GROSS. ENGINE STARTING IS A BREEZE AS IT COMES WITH AN ELECTRIC STARTER AND GENERATOR TO ALLOW IT TO FLY ALL DAY.THE PURCHASE PRICE OF THE N22NK WAS $79,465.30 FOR THE AIRPLANE'S ACQUISITION, MAINTENANCE AND STORAGE. THE RAFFLE GENERATED 5875 TICKETS SOLD, WITH 2336 INDIVIDUALS PURCHASING TICKETS. THE CLUB, AS A WHOLE, LOGGED 2388 HOURS. WE HAVE NINE PLANES, WITH FIVE PLANES OWNED BY THE CLUB, THREE AIRCRAFT LEASED, AND A TOTAL OF 88 MEMBERS WITH OVER 40 PEOPLE ON THE WAITING LIST AS OF DECEMBER 1, 2023.WE HAD OUR 70TH-ANNIVERSARY PARTY IN NOVEMBER AT THE "CLUBS HANGER" IN TULSA, OKLAHOMA. THE CLUB HAD OVER 300 ATTENDEES AT THE PARTY, WITH MULTIPLE THINGS FOR CHILDREN, MEMBERS AND GUESTS TO DO. DURING THE YEAR WITH PROCEEDS FROM THE PREVIOUS RAFFLE, WE PURCHASED TWO ADDITIONAL PLANES IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Burk President | OfficerTrustee | 10 | $0 |
Bo Byers Vice President | OfficerTrustee | 5 | $0 |
Brian Torres Treasurer | OfficerTrustee | 5 | $0 |
Kurt Ernsten Director | OfficerTrustee | 5 | $0 |
Brandon Bell Director | Trustee | 5 | $0 |
Kevin Bruce Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $396,990 |
| 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 | $396,990 |
| Total Program Service Revenue | $0 |
| Investment income | $2,794 |
| 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 | $145,999 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $545,783 |
| 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 | $0 |
| 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 | $3,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,895 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,321 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,938 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,345 |
| Insurance | $31,953 |
| All other expenses | $114,363 |
| Total functional expenses | $439,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,840 |
| Savings and temporary cash investments | $0 |
| 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 | $270,071 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $275 |
| Total assets | $403,186 |
| Accounts payable and accrued expenses | $33,753 |
| 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 | $154,812 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $188,565 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $214,621 |
| 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 | $403,186 |