Faa Flying Club Inc
- Assets
- $424.2k
- Revenue
- $224.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, VA
- Founding
- 05/1980
- Data as of
- 04/2024
- EIN
- 73-6506253
Organization Overview
Faa Flying Club Inc is located in Springfield, VA. The organization was established in 1980. 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. Faa 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 04/2024, Faa Flying Club Inc generated $224.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $158.4k during the year ending 04/2024. While expenses have increased by 7.1% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE FAA FLYING CLUB IS A VIRGINIA NON-STOCK NOT-FOR-PROFIT CORPORATION (HEREIN THE "CLUB") ESTABLISHED TO STIMULATE AND ENCOURAGE INTEREST IN AVIATION, TO ADVANCE THE KNOWLEDGE OF MEMBERS IN AVIATION AND AVIATION-RELATED SUBJECTS, TO SUSTAIN AND IMPROVE THE PROFICIENCY OF MEMBERS IN FLYING, TO PROVIDE AN OPPORTUNITY FOR MEMBERS TO FLY AIRCRAFT ECONOMICALLY, TO PROVIDE AN ENVIRONMENT WHICH AFFORDS RECREATIONAL AND SOCIAL ADVANTAGES WITHIN THE AVIATION COMMUNITY AND TO DO ALL OF THE THINGS NECESSARY IN THE OPERATION OF THE CLUB TO ACCOMPLISH ITS PRINCIPAL OBJECTIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR CLUB HAS GROWN TO 43 MEMBERS. WE HAVE UPGRADED OUR EQUIPMENT (THREE PIPER AIRCRAFT) TO ENHANCE CAPABILITY AND SAFETY. WE CONDUCTED SEVERAL BENEFIT FLIGHTS THIS LAST YEAR TO BENEFIT PUBLIC AWARENESS OF GENERAL AVIATION'S ROLE IN THE COMMUNITY SUCH AS OUR PARTICIPATION IN "YOUNG EAGLE" FLIGHTS (SPONSORED BY THE EXPERIMENTAL AIRCRAFT ASSOCIATION) TO SPUR THE INTEREST OF OUR YOUTH IN PURSUING AVIATION RELATED CAREERS AND PARTICIPATED IN AIRPORT OPEN HOUSE EVENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Yurovich President | Officer | 0.5 | $0 |
Thomas Shalhoub Treasurer / Chief Flight Instructor | Officer | 2.5 | $0 |
Daniel Botzer Maintenance Officer | Officer | 1.5 | $0 |
John Lammers Vice President | Officer | 0.5 | $0 |
Francisco Fuentes Secretary | Officer | 0.5 | $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 | $224,622 |
| Investment income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $224,622 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $391 |
| Information technology | $905 |
| Royalties | $0 |
| Occupancy | $13,265 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,352 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,939 |
| All other expenses | $0 |
| Total functional expenses | $158,378 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104,241 |
| 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 | $320,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $424,241 |
| 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 | $95,373 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $95,373 |
| Net assets without donor restrictions | $328,868 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $424,241 |