International Aerobatic Club Inc
- Assets
- $652.3k
- Revenue
- $367.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Oshkosh, WI
- Founding
- 09/1985
- Data as of
- 02/2022
- EIN
- 23-7067946
Organization Overview
International Aerobatic Club Inc is located in Oshkosh, WI. The organization was established in 1985. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 02/2023, International Aerobatic Club Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Aerobatic Club 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 02/2022, International Aerobatic Club Inc generated $367.3k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $389.2k during the year ending 02/2022. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 6 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CORE PURPOSE OF THE IAC IS TO PROMOTE AND ENHANCE THE SAFETY AND ENJOYMENT OF SPORT AEROBATICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP SERVICES - COSTS ASSOCIATED WITH THE FOLLOWING:CONTESTS WHERE THOSE INTERESTED CAN COMPETE IN AEROBATIC EVENTS OBSERVED BY THE GENERAL PUBLIC, PROMOTION OF MEMBERSHIP IN THE ORGANIZATION AND DISTRIBUTION OF VARIOUS AWARDS AND TROPHIES.
PUBLICATION - SPORT AEROBATICS, A MONTHLY MAGAZINE IS ISSUED TO MEMBERS WITH INFORMATION ON THE ART OF AEROBATIC AVIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Bourke President | OfficerTrustee | 10 | $0 |
Rob Holland Vice President | OfficerTrustee | 10 | $0 |
Jordan Ashley Treasurer | OfficerTrustee | 10 | $0 |
Sara Arnold Secretary | OfficerTrustee | 10 | $0 |
Doug Bartlett Director | Trustee | 10 | $0 |
Marty Flournoy Director | Trustee | 10 | $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 | $43,295 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $43,295 |
| Total Program Service Revenue | $304,307 |
| Investment income | $25 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,560 |
| Net Rental Income | $1,500 |
| 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 | $12,511 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $367,264 |
| 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. | $82,678 |
| Compensation of current officers, directors, key employees. | $49,607 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $37,132 |
| Pension plan accruals and contributions | $6,910 |
| Other employee benefits | $0 |
| Payroll taxes | $6,998 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,796 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $90,406 |
| Advertising and promotion | $2,722 |
| Office expenses | $17,595 |
| Information technology | $3,240 |
| Royalties | $0 |
| Occupancy | $1,178 |
| Travel | $19,566 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $59 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,788 |
| Insurance | $15,029 |
| All other expenses | $24,928 |
| Total functional expenses | $389,195 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $389,438 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $179,353 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,073 |
| Prepaid expenses and deferred charges | $18,020 |
| Net Land, buildings, and equipment | $42,456 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $652,340 |
| Accounts payable and accrued expenses | $10,327 |
| Grants payable | $0 |
| Deferred revenue | $192,502 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $202,829 |
| Net assets without donor restrictions | $423,381 |
| Net assets with donor restrictions | $26,130 |
| 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 | $652,340 |