Lafayette Foundation
- Assets
- $2.7m
- Revenue
- $644.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Ft Lupton, CO
- Founding
- 09/1985
- Data as of
- 12/2021
- EIN
- 84-0893072
Organization Overview
Lafayette Foundation, operating under the name Vintage Aero Flying Museum, is located in Ft Lupton, CO. The organization was established in 1985. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, 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. Vintage Aero Flying Museum 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, Vintage Aero Flying Museum generated $644.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 55.0% each year . All expenses for the organization totaled $126.6k during the year ending 12/2021. While expenses have increased by 6.6% 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
THE PURPOSE OF THE ORGANIZATION IS THE PRESERVATION AND EDUCATION OF AVIATION HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LAFAYETTE FOUNDATION SEES OVER 7000 VISITORS PER YEAR COME THROUGH OUR MUSEUM WHERE WE GIVE GUIDED TOURS OF OUR COLLECTION AND DISPLAYS. OUR VISITORS ARE ALSO ABLE TO VIEW OUR AIRCRAFT COLLECTION AND SEE FLYING DEMONSTRATIONS OF THE AIRCRAFT. IT IS A ONE OF A KIND EXPERIENCE WHERE THE PUBLIC CAN SEE THE ORIGINAL UNIFORMS, MEMORABILIA, AND AIRCRAFT OF SOME THE WORLD'S MOST FAMOUS PILOTS, FROM WORLD WAR I, THE GOLDEN AGE OF AVIATION, AND WORLD WAR II.
EVERY 3RD WEEKEND IN MAY, THE MUSEUM HOLDS A SPRING FLY-IN, OPEN TO THE PUBLIC, WITH 3-5,000 VISITORS IN ATTENDANCE. IT OFFERS LIVING HISTORY DEMONSTRATIONS, FREE MUSEUM TOURS, QUARTERLY GUEST SPEAKERS, AND FREE FLYING DEMONSTRATIONS OF WORLD WAR I AND WORLD WAR II AIRCRAFT.
GROUP TOURS ARE OFFERED TIMES PER YEAR. THEY INCLUDE LUNCH, MUSEUM TOUR, AND A FLYING DEOMONSTRATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Parks President | OfficerTrustee | 20 | $87,000 |
Mark Holliday Director | Trustee | 20 | $0 |
Alexandra Bursey Director | Trustee | $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 | $9,252 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,252 |
| Total Program Service Revenue | $251 |
| Investment income | $672 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $634,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $644,175 |
| 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. | $87,000 |
| Compensation of current officers, directors, key employees. | $21,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,213 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $484 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,693 |
| Advertising and promotion | $816 |
| Office expenses | $382 |
| Information technology | $1,467 |
| Royalties | $0 |
| Occupancy | $2,781 |
| Travel | $12,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,931 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,222 |
| All other expenses | $1,373 |
| Total functional expenses | $126,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,213 |
| Savings and temporary cash investments | $452,066 |
| Pledges and grants receivable | $0 |
| 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 | $2,244,144 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,743,423 |
| 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 | $5,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,153 |
| Total liabilities | $7,153 |
| Net assets without donor restrictions | $2,736,270 |
| Net assets with donor restrictions | $0 |
| 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 | $2,743,423 |
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|---|---|---|
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