Warbird Heritage Foundation
- Assets
- $208.5k
- Revenue
- $477.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Waukegan, IL
- Founding
- 07/2004
- Data as of
- 12/2021
- EIN
- 20-0467807
Organization Overview
Warbird Heritage Foundation is located in Waukegan, IL. The organization was established in 2004. According to its NTEE Classification (A56) the organization is classified as: Natural History & Natural Science 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. Warbird Heritage 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 12/2021, Warbird Heritage Foundation generated $477.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $449.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACTIVITIES OF THE FOUNDATION INCLUDE PROVIDING MUSEUM TOURS TO VARIOUS CHARITABLE AND EDUCATIONAL GROUPS, AND CONDUCTING PUBLIC EXHIBITIONS OF HISTORIC AIRCRAFT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Dietz Mechanic | 40 | $75,812 | |
Mark Kohlhorst Mechanic | 40 | $70,812 | |
Herwig Schmidts Director | 10 | $48,750 | |
Corinne G Wood Director | 0 | $0 | |
Paul R Wood President | 10 | $0 | |
David Staffeldt Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $325,100 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $151,997 |
| Total Revenue | $477,097 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $48,750 |
| Other employee salaries and wages | $146,624 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,217 |
| Depreciation | $10,312 |
| Occupancy | $11,316 |
| Travel, conferences, and meetings | $2,690 |
| Printing and publications | $0 |
| Other expenses | $180,698 |
| Total operating and administrative expenses | $449,480 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $449,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,329 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $15,170 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $163,951 |
| Other assets | $0 |
| Total assets | $208,450 |
| Accounts payable and accrued expenses | $14,621 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $8,467 |
| Total liabilities | $23,088 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Warbird Heritage Foundation has recieved totaling $24,000.
| Awarding Organization | Amount |
|---|---|
Air Force Heritage Flight Foundation Houston, TX PURPOSE: AIRSHOW DONATIONS | $24,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Field Museum Of Natural History Chicago, IL | $874,117,562 | $94,095,312 |
Project Exploration Chicago, IL | $396,534 | $1,420,429 |
Ozark Museum Of Natural History Cedar Creek, MO | $354,024 | $871,137 |
Academy Of Science Of St Louis St Louis, MO | $11,599,978 | $581,085 |
Cable Natural History Museum Inc Cable, WI | $7,995,635 | $768,562 |
Warbird Heritage Foundation Waukegan, IL | $208,450 | $477,097 |
Friends Of Garfield Park Inc Indianapolis, IN | $1,492,001 | $233,735 |
Pontiac-Oakland Museum & Resource Center Inc Pontiac, IL | $1,103,406 | $269,445 |
Missouri Institute Of Natural Science Springfield, MO | $486,680 | $0 |
Elgin Public Museum Incorporated Elgin, IL | $234,087 | $0 |
Ben E Clement Mineral Museum Inc Marion, KY | $96,845 | $52,471 |
Cambridge Historic School Foundation Inc Cambridge, WI | $142,100 | $24,427 |