Liberty Aviation Museum Inc
- Assets
- $18.0m
- Revenue
- $1.5m
- Investments
- $112.0k
- Employees
- 0
- Location
- Port Clinton, OH
- Founding
- 01/2011
- Data as of
- 07/2023
- EIN
- 27-3994236
Organization Overview
Liberty Aviation Museum Inc is located in Port Clinton, OH. The organization was established in 2011. 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. Liberty Aviation Museum 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 07/2023, Liberty Aviation Museum Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $1.6m during the year ending 07/2023. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENDITURES PAID TO MAINTAIN THE OPERATING ASSETS OF THE LIBERTY AVIATION MUSEUM AND TO OPERATE THE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Patrick Jr President/ceo | 1 | $0 | |
Carolyn M Maciag Secretary/treasurer | 1 | $0 | |
Robert Fujita Director Of Operatio | 40 | $67,000 | |
Lucas Thompson Building Maintenance | 40 | $63,000 | |
Connie Nieves Museum Administrator | 40 | $54,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lucas Thompson | 7/30/20 | $126,375 |
American Marine Services | 7/30/20 | $67,360 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,000,285 |
| Interest on Savings | $0 |
| Dividends & Interest | $17,213 |
| Net Rental Income | $85,680 |
| Net Gain on Sale of Assets | -$24,430 |
| Capital Gain Net Income | $680,453 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $80,788 |
| Other Income | $351,568 |
| Total Revenue | $1,511,104 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $382,689 |
| Pension plans, employee benefits | $0 |
| Interest | $15,000 |
| Taxes | $99,924 |
| Depreciation | $253,762 |
| Occupancy | $92,365 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $634,445 |
| Total operating and administrative expenses | $1,574,132 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,574,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,464 |
| Savings and temporary cash investments | $1,360 |
| Net Accounts receivable | $0 |
| 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 | $112,042 |
| Net Land, buildings, and equipment | $7,164,722 |
| Other assets | $10,620,461 |
| Total assets | $18,007,049 |
| Accounts payable and accrued expenses | $106,855 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $43,317 |
| Mortgages and other notes payable | $310,018 |
| Other liabilities | $0 |
| Total liabilities | $460,190 |
Grants Awarded
Over the last fiscal year, Liberty Aviation Museum Inc has awarded $13,884 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CAF RED TAIL PURPOSE: TO EDUCATE AUDIENCES ACROSS THE COUNTRY ABOUT THE HISTORY AND LEGACY OF THE TUSKEGEE AIRMEN. | $7,500 |
TRI-MOTOR HERITAGE FOUNDATION PURPOSE: TO PRESERVE THE RICH HISTORY OF THE FORD TRI-MOTOR AIRPLANE AND ITS IMPORTANCE TO THE NORTHERN OHIO REGION. | $1,384 |
DOCS FRIENDS INC PURPOSE: TO PRESERVE AND RESTORE AIRCRAFT FOR HISTORICAL AND EDUCATIONAL PURPOSES. | $5,000 |