No 1 British Flying Training School Museum Inc
- Assets
- $614.6k
- Revenue
- $169.6k
- Investments
- $274.1k
- Employees
- 2
- Location
- Terrell, TX
- Founding
- 12/1998
- Data as of
- 09/2022
- EIN
- 75-2541836
Organization Overview
No 1 British Flying Training School Museum Inc is located in Terrell, TX. The organization was established in 1998. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, No 1 British Flying Training School Museum Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. No 1 British Flying Training School 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 09/2022, No 1 British Flying Training School Museum Inc generated $169.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $184.5k during the year ending 09/2022. While expenses have increased by 12.4% per year over the past 7 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
THE ORGANIZATION MAINTAINS A MUSEUM AT 119 SILENT WINGS BLVD, TERRELL TX 75160, WHICH IS OPEN TO THE PUBLIC FROM 10 A.M. TO 4 P.M. CT ON EACH WEDNESDAY, THURSDAY, FRIDAY, AND SATURDAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM OPERATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Hotard Exec Director | Trustee | 35 | $40,738 |
Hal Richards Treas/dir | OfficerTrustee | 10 | $0 |
Bill Huthmacher Pres/chair/dir | OfficerTrustee | 10 | $0 |
Raymond Sparks Director | Trustee | 5 | $0 |
Charles Whitaker Director | Trustee | 5 | $0 |
Paul Finnegan Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,908 |
| Fundraising events | $16,764 |
| Related organizations | $0 |
| Government grants | $74,004 |
| All other contributions, gifts, grants, and similar amounts not included above | $105,628 |
| Noncash contributions included in lines 1a–1f | $1,078 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $199,304 |
| Total Program Service Revenue | $0 |
| Investment income | $2,628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $26,378 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$62,772 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,104 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $169,642 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $465 |
| 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 | $65,178 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,986 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,000 |
| Fees for services: Accounting | $10,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $17,100 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,000 |
| Advertising and promotion | $3,966 |
| Office expenses | $9,894 |
| Information technology | $2,231 |
| Royalties | $0 |
| Occupancy | $26,627 |
| Travel | $132 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,718 |
| Insurance | $1,027 |
| All other expenses | $1,555 |
| Total functional expenses | $184,539 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,886 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,889 |
| Prepaid expenses and deferred charges | $696 |
| Net Land, buildings, and equipment | $53,414 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $274,122 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,118 |
| Total assets | $614,625 |
| Accounts payable and accrued expenses | $96,683 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $875 |
| Total liabilities | $97,558 |
| Net assets without donor restrictions | $388,939 |
| Net assets with donor restrictions | $128,128 |
| 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 | $614,625 |