Mighty Eighth Foundation Inc
- Assets
- $2.8m
- Revenue
- $632.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Savananh, GA
- Founding
- 12/2002
- Data as of
- 12/2021
- EIN
- 75-3076651
Organization Overview
Mighty Eighth Foundation Inc is located in Savananh, GA. The organization was established in 2002. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Mighty Eighth Foundation 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 12/2021, Mighty Eighth Foundation Inc generated $632.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.4% each year . All expenses for the organization totaled $156.1k during the year ending 12/2021. While expenses have increased by 34.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING ORGANIZATION FOR THE NATIONAL MUSEUM OF THE MIGHTY EIGHTH AIR FORCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS A SUPPORTING ORGANIZATION FOR THE NATIONAL MUSEUM OF THE MIGHTY EIGHTH AIR FORCE INC. IT'S PURPOSE IS TO RAISE AND MANAGE FUNDS FOR THE MUSEUM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruth Mcmullin Board Chair | OfficerTrustee | 2 | $0 |
Art Schmauder Secretary | OfficerTrustee | 1 | $0 |
Jerry Thimme Treasurer | OfficerTrustee | 1 | $0 |
Doug Andrews Board Member | Trustee | 1 | $0 |
William Cathcart Board Member | Trustee | 1 | $0 |
Eg Shuler Jr Board Member | Trustee | 1 | $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 | $323,639 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $323,639 |
| Total Program Service Revenue | $0 |
| Investment income | $74,852 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $216,197 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $632,459 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $121,127 |
| 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 | $5,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,025 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $38 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,128 |
| All other expenses | $460 |
| Total functional expenses | $156,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,660 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $168,000 |
| 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 | $0 |
| Investments—publicly traded securities | $2,542,976 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,779,636 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,290 |
| Total liabilities | $17,290 |
| Net assets without donor restrictions | $466,049 |
| Net assets with donor restrictions | $2,296,297 |
| 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 | $2,779,636 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mighty Eighth Foundation Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Vanguard Charitable Endowment Program Southeastern, PA PURPOSE: FOR RECIPIENT'S EXEMPT PURPOSE | $50,000 |
Endowment Analysis
| Beg. Balance | $2,355,385 |
| Earnings | $221,609 |
| Admin Expense | $34,931 |
| Net Contributions | $341,410 |
| Grants | $121,127 |
| Ending Balance | $2,762,346 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Adrienne Arsht Center Trust Inc Miami, FL | $40,375,100 | $35,550,513 |
Dr Phillips Center For The Performing Arts Inc Orlando, FL | $72,410,407 | $23,068,254 |
North Carolina Museum Of Art Foundation Inc Raleigh, NC | $80,876,506 | $13,828,837 |
Broward Performing Arts Foundation Inc Fort Lauderdale, FL | $22,267,625 | $6,295,369 |
Alabama Educational Television Foundation Authority Birmingham, AL | $11,749,441 | $5,899,982 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Marbles Kids Museum Raleigh, NC | $8,790,326 | $3,967,863 |
Udt-Seal Museum Association Inc Fort Pierce, FL | $11,703,499 | $4,225,376 |
Tampa Bay Performing Arts Center Foundation Inc Tampa, FL | $58,693,450 | $5,079,168 |
Bellingrath Gardens And Home Foundation Inc Theodore, AL | $4,998,208 | $3,680,917 |
Friends Of Nc State Museum Of Natural Sciences Raleigh, NC | $9,967,287 | $3,956,524 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |