American Airpower Heritage Museum Inc
- Assets
- $12.4m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 06/1990
- Data as of
- 12/2022
- EIN
- 74-2553763
Organization Overview
American Airpower Heritage Museum Inc is located in Dallas, TX. The organization was established in 1990. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Airpower Heritage Museum 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 12/2022, American Airpower Heritage Museum Inc generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $4.1m during the year ending 12/2022. While expenses have increased by 8.5% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PUBLIC EDUCATION & ENJOYMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AMERICAN AIRPOWER HERITAGE MUSEUM HOUSES, MAINTAINS,AND DEVELOPS WORLD WAR II ARTIFACTS FOR THE EDUCATIONAND ENJOYMENT OF PRESENT AND FUTURE GENERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victor N Agather Chairman | Trustee | 5 | $0 |
Randy Wilson Vice Chair | Trustee | 5 | $0 |
Jim Keyes Board Member | Trustee | 5 | $0 |
Larry Ley Board Member | Trustee | 5 | $0 |
Dennis Fennessey Board Member | Trustee | 5 | $0 |
Fred Telling Board Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcright Smith Construction Construction | 12/30/21 | $2,473,260 |
Groove Jones Llc Museum Exhibits | 12/30/21 | $150,000 |
Bellwether Prototype Llc Museum Exhibits | 12/30/21 | $235,939 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $42,307 |
| Related organizations | $162,957 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,224,491 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,429,755 |
| Total Program Service Revenue | $204,778 |
| Investment income | $238 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$80,021 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $286 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,561,793 |
| 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 | $631,114 |
| Pension plan accruals and contributions | $13,428 |
| Other employee benefits | $102,052 |
| Payroll taxes | $54,162 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $336 |
| 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 | $5,981 |
| Office expenses | $0 |
| Information technology | $1,161 |
| Royalties | $0 |
| Occupancy | $55,167 |
| Travel | $3,948 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $159,422 |
| Payments to affiliates | $1,910,007 |
| Depreciation, depletion, and amortization | $555,509 |
| Insurance | $58,866 |
| All other expenses | $196,732 |
| Total functional expenses | $4,120,791 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $845,192 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $49,212 |
| Accounts receivable, net | $11,199 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,394 |
| Prepaid expenses and deferred charges | $79,727 |
| Net Land, buildings, and equipment | $10,075,095 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,291,577 |
| Total assets | $12,385,396 |
| Accounts payable and accrued expenses | $93,318 |
| Grants payable | $0 |
| Deferred revenue | $35,987 |
| 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 | $12,415,078 |
| Total liabilities | $12,544,383 |
| Net assets without donor restrictions | -$573,000 |
| Net assets with donor restrictions | $414,013 |
| 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 | $12,385,396 |