Mid-Atlantic Soaring Association Incorporated is located in Frederick, MD. The organization was established in 2009. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, 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. Mid-Atlantic Soaring Association Incorporated 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, Mid-Atlantic Soaring Association Incorporated generated $124.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $124.7k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHARITABLE, EDUCATIONAL, SCIENTIFIC MISSION: TO ADVANCE THE SCIENCE & ART OF MOTORLESS FLIGHT THROUGH FLIGHT INSTRUCTION, YOUTH SCHOLARSHIPS, EDUCATION PROGRAMS; TO PROVIDE FLIGHT EQUIPMENT, & SERVICES FACILITIES TO MEMBERS/COMMUNITY; TO RESEARCH SCIENTIFIC TECHNIQUES OF SOARING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GLIDER FLYING CLUB, APPROXIMATELY 80-120 MEMBERS. PROVIDES LAUNCH SERVICES, STORAGE AND INSTRUCTION. EDUCATION FOR MEMBERS AND GENERAL PUBLIC. COMMUNITY SERVICE ACTIVITIES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
David Weaver President | OfficerTrustee | 5 | $0 |
Mike Harbold Vice President | OfficerTrustee | 5 | $0 |
Nirmal Mathrani Treasurer | OfficerTrustee | 5 | $0 |
Michael Cooper-White Secretary | OfficerTrustee | 5 | $0 |
Jose R Matheus Director | Trustee | 5 | $0 |
Danielle Brotto Director | Trustee | 5 | $0 |
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 | $5,066 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $5,066 |
Total Program Service Revenue | $141,852 |
Investment income | $1 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | -$23,575 |
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 | $124,566 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $4,000 |
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 | $4,334 |
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 | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $3,551 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $44,958 |
Insurance | $26,678 |
All other expenses | $12,364 |
Total functional expenses | $124,674 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $97,102 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $30,978 |
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 | $5,364 |
Net Land, buildings, and equipment | $525,367 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $658,811 |
Accounts payable and accrued expenses | $5,996 |
Grants payable | $0 |
Deferred revenue | $56,222 |
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 | $88,938 |
Total liabilities | $151,156 |
Net assets without donor restrictions | $480,222 |
Net assets with donor restrictions | $27,433 |
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 | $658,811 |
Over the last fiscal year, we have identified 1 grants that Mid-Atlantic Soaring Association Incorporated has recieved totaling $750.
Awarding Organization | Amount |
---|---|
Verizon Foundation Basking Ridge, NJ PURPOSE: VIP PAYOUT FOR 09/08/21 | $750 |
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