Independent Falcon Aircraft Operators Association
- Assets
- $81.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Dallas, TX
- Founding
- Data as of
- 12/2023
- EIN
- 86-3081663
Organization Overview
Independent Falcon Aircraft Operators Association is located in Dallas, TX. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Falcon Aircraft Operators Association is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Independent Falcon Aircraft Operators Association generated $53.2k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $50.8k during the year ending 12/2023. While expenses have increased by 25.8% per year over the past 3 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
SHARING IDEAS FOR TROUBLESHOOTING, BEST PRACTICES, SAFETY DISCUSSIONS,AND DISCUSSING MORE ECONOMICALLY VIABLE SOLUTIONS FOR THE OPERATIONOF THE AIRCRAFT. HAS BENEFITED ITS CURRENT 50+MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean P Lynch President | 5 | $0 | |
Laura J Mountjoy Treasurer | 2 | $777 | |
Steve Hubble Secretary | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $53,197 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $53,197 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $777 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $50,001 |
| Total expenses | $50,778 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $79,104 |
| Other assets | $0 |
| Total assets | $81,604 |
| Total liabilities | $112,774 |
| Net assets or fund balances | -$31,170 |