Arizona Aerospace Foundation Inc
- Assets
- $23.6m
- Revenue
- $13.1m
- Investments
- $0.0
- Employees
- 95
- Location
- Tucson, AZ
- Founding
- 11/1967
- Data as of
- 10/2023
- EIN
- 86-6031135
Organization Overview
Arizona Aerospace Foundation Inc is located in Tucson, AZ. The organization was established in 1967. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 10/2023, Arizona Aerospace Foundation Inc employed 95 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arizona Aerospace 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 10/2023, Arizona Aerospace Foundation Inc generated $13.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $9.0m during the year ending 10/2023. While expenses have increased by 6.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S MISSION IS TO CREATE UNLIMITED HORIZONS IN AEROSPACE EDUCATION THROUGH THE PRESERVATION AND PRESENTATION OF THE HISTORY OF FLIGHT. BOTH THE PIMA AIR & SPACE MUSEUM AND THE TITAN MISSILE MUSEUM HAVE STRONG COMMITMENTS TO EDUCATING AND INSPIRING TOMORROW'S ENGINEERS, SCIENTISTS, PILOTS, AND ASTRONAUTS. EVERY YEAR, THOUSANDS OF SCHOOL CHILDREN ARE ADMITTED TO BOTH MUSEUMS FREE OF CHARGE. THE FOUNDATION PLANS TO CONTINUE EXPANDING ITS COLLECTION OF AIRCRAFT AND IMPROVING ITS VISITOR AMENITIES, WHILE EXPLORING NEW WAYS TO FOSTER AN INTEREST IN THE FUTURE OF AVIATION TECHNOLOGY AND AEROSPACE EXPLORATION IN THE YOUNG PEOPLE OF SOUTHERN ARIZONA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ARIZONA AEROSPACE FOUNDATION OPERATES TWO MUSEUMS, THE PIMA AIR & SPACE MUSEUM (PASM), AND THE TITAN MISSILE MUSEUM (TMM). PASM IS ONE OF THE LARGEST NON-GOVERNMENT-FUNDED AVIATION MUSEUMS IN THE UNITED STATES. THE MUSEUM MAINTAINS A COLLECTION OF MORE THAN 300 AIRCRAFT AND SPACECRAFT FROM AROUND THE WORLD, INCLUDING MANY RARE AND ONE-OF-A-KIND, AND MORE THAN 125,000 ARTIFACTS. THE TITAN MISSILE MUSEUM IS A NATIONAL HISTORIC LANDMARK AND IS THE ONLY PUBLICLY ACCESSIBLE TITAN II MISSILE COMPLEX OF THE 54 THAT WERE ON ALERT FROM 1963 TO 1987. IT IS ONE OF ONLY TWO INTERCONTINENTAL BALLISTIC MISSILE SITES IN THE WORLD THAT HAVE BEEN PRESERVED FOR THE BENEFIT OF THE PUBLIC. THE TWO MUSEUMS ARE HOST TO APPROXIMATELY 200,000 VISITORS EACH YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bert Zaccaria Trustee | Trustee | 1 | $0 |
Jennifer Walker Trustee | Trustee | 1 | $0 |
Maj Gen Russell Violett Trustee | Trustee | 1 | $0 |
John Tallichet Trustee | Trustee | 1 | $0 |
Michael Stilb Trustee | Trustee | 1 | $0 |
Patrick Pepper Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $258,976 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,882,862 |
| Noncash contributions included in lines 1a–1f | $5,320,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,141,838 |
| Total Program Service Revenue | $4,531,136 |
| Investment income | $107,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $110,000 |
| 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 | $605,686 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,126,194 |
| 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. | $330,000 |
| Compensation of current officers, directors, key employees. | $330,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,905,433 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $443,961 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,258 |
| Fees for services: Accounting | $24,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $116,671 |
| Advertising and promotion | $192,548 |
| Office expenses | $338,599 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $302,563 |
| Travel | $7,365 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $920 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $982,270 |
| Insurance | $91,008 |
| All other expenses | $274,793 |
| Total functional expenses | $8,965,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $253,951 |
| Savings and temporary cash investments | $9,682,040 |
| Pledges and grants receivable | $600,000 |
| Accounts receivable, net | $27,470 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $251,679 |
| Prepaid expenses and deferred charges | $663,005 |
| Net Land, buildings, and equipment | $12,064,663 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,641 |
| Total assets | $23,622,449 |
| Accounts payable and accrued expenses | $270,974 |
| 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 | $17,796 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $288,770 |
| Net assets without donor restrictions | $16,373,295 |
| Net assets with donor restrictions | $6,960,384 |
| 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 | $23,622,449 |