West Michigan Aviation Academy Foundation is located in Grand Rapids, MI. The organization was established in 2019. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Michigan Aviation Academy Foundation 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 06/2023, West Michigan Aviation Academy Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (20.2%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATIONS ROLE IS TO CULTIVATE DONORS AND PRIVATE PHILANTHROPY, IN SUPPORT OF WEST MICHIGAN AVIATION ACADEMY IN ORDER TO PROMOTE THEIR EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AWARDED AND FUNDS DISTRIBUTED FOR THE BENEFIT OF WEST MICHIGAN AVIATION ACADEMY IN ORDER TO PROMOTE THEIR EDUCATIONAL PROGRAMS AND FOR OTHER SIMILAR NON-PROFIT PURPOSES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Terry Russell President | OfficerTrustee | 1 | $0 |
Steve Johns Treasurer | OfficerTrustee | 1 | $0 |
Peggy Koenigsknecht Secretary | OfficerTrustee | 1 | $0 |
Al Smith Director | Trustee | 1 | $0 |
Larry Fisher Director | Trustee | 1 | $0 |
Louis C Seno Jr Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $856,186 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $755,579 |
Noncash contributions included in lines 1a–1f | $39,050 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,611,765 |
Total Program Service Revenue | $0 |
Investment income | $59 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | -$365,749 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,246,075 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $1,067,073 |
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 | $28,464 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $8,449 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $25,880 |
Office expenses | $9,996 |
Information technology | $1,273 |
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 | $2,747 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $4,558 |
Total functional expenses | $1,149,199 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $638,807 |
Savings and temporary cash investments | $863,088 |
Pledges and grants receivable | $1,387,434 |
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 | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,889,329 |
Accounts payable and accrued expenses | $13,045 |
Grants payable | $325,000 |
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 | $0 |
Total liabilities | $338,045 |
Net assets without donor restrictions | $300,635 |
Net assets with donor restrictions | $2,250,649 |
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 | $2,889,329 |