Evansville P-47 Foundation Inc
- Assets
- $3.3m
- Revenue
- $566.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Evansville, IN
- Founding
- Data as of
- 12/2023
- EIN
- 84-4887552
Organization Overview
Evansville P-47 Foundation Inc is located in Evansville, IN. 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. Evansville P-47 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 12/2023, Evansville P-47 Foundation Inc generated $566.2k 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 (19.7%) each year. All expenses for the organization totaled $160.3k during the year ending 12/2023. 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 PURPOSE OF THE ORGANIZATION IS THE ACQUISITION, MAINTENANCE, OWNERSHIP, AND DISPLAY OF WARTIME PLANES AND EQUIPMENT, INCLUDING BUT NOT LIMITED TO WORLD WAR II AIRCRAFT SUCH AS A P-47 FOR EDUCATIONAL AND MUSEUM PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EVANSVILLE P-47 FOUNDATION PURCHASED A P-47 THUNDERBOLT FIGHTER AIRPLANE FROM WORLD WAR II NAMED TARHEEL HAL, ONE OF THE MOST FAMOUS REMAINING P-47S. SHORTLY AFTER BEING FLOWN BACK TO INDIANA, THE PLANE WAS RENAMED "HOOSIER SPIRIT II". FOLLOWING THE PASSING OF HOUSE BILL 1197 ON APRIL 26, 2021, THE HOOSIER SPIRIT II BECAME INDIANA'S STATE AIRCRAFT. IT IS DISPLAYED INSIDE THE EVANSVILLE WARTIME MUSEUM LOCATED AT 7503 PETERSBURG ROAD, JUST A MILE FROM WHERE IT WAS MANUFACTURED BY REPUBLIC AVIATION IN 1944.
THE ORGANIZATION ESTABLISHED SEPARATE RELATED 501(C)(3) ENTITIES FOR TWO OTHER HISTORICAL ITEMS FROM WORLD WAR II: A 1940 BOEING STEARMAN PLANE AND FOR A 1943 CHRYSLER M4A4 SHERMAN TANK-CHEYENNE. THE ORGANIZATION MAKES GRANTS TO THESE ORGANIZATION TO ASSIST IN THEIR SUPPORT, CARE AND MAINTENANCE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Kaskel President | OfficerTrustee | 1 | $0 |
Mark Browning MD Vice President | OfficerTrustee | 1 | $0 |
John M Dunn Treasurer | OfficerTrustee | 1 | $0 |
Jack Buttrum Secretary | OfficerTrustee | 1 | $0 |
Allen Sanderson Member | Trustee | 1 | $0 |
Richard Kuhn 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 | $548,332 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $548,332 |
| Total Program Service Revenue | $7,140 |
| Investment income | $734 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $566,192 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,300 |
| 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 | $42,488 |
| Fees for services: Legal | $1,742 |
| Fees for services: Accounting | $1,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $643 |
| Office expenses | $2,579 |
| Information technology | $81 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,770 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $60,380 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,060 |
| All other expenses | $0 |
| Total functional expenses | $160,266 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,387 |
| Savings and temporary cash investments | $12,165 |
| 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 | $0 |
| Investments—publicly traded securities | $10,558 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,200,000 |
| Total assets | $3,276,110 |
| 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 | $681,550 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $681,550 |
| Net assets without donor restrictions | $0 |
| 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 | $2,594,560 |
| Total liabilities and net assets/fund balances | $3,276,110 |