Air Force Museum Foundation Inc
- Assets
- $28.2m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 88
- Location
- Wright Patterson Afb, OH
- Founding
- 01/1966
- Data as of
- 12/2021
- EIN
- 31-0668800
Organization Overview
Air Force Museum Foundation Inc is located in Wright Patterson Afb, OH. The organization was established in 1966. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Air Force Museum Foundation Inc employed 88 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Air Force Museum 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 12/2021, Air Force Museum Foundation Inc generated $8.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $4.3m during the year ending 12/2021. While expenses have increased by 2.9% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT OF THE NATIONAL MUSEUM OF THE UNITED STATES AIR FORCE.
Describe the Organization's Program Activity:
OPERATION OF A MUSEUM STORE (INCLUDING A SIGNIFICANT BOOK STORE OF USAF AND RELATED EDUCATIONAL MATERIALS), AIR FORCE MUSEUM THEATRE AND SIMULATORS IN ACCORDANCE WITH THE FOUNDATION'S EXEMPT PURPOSE. OPERATION OF 2 SMALL CAFE-STYLE EATING FACILITIES. OPERATIONS INCLUDE PUBLICIZING THE MUSEUM AND FURTHERING ITS EDUCATIONAL BENEFITS TO 1 MILLION VISITORS/YEAR.
PROVIDE ASSISTANCE FOR MUSEUM OPERATIONS, INCLUDING FACILITY IMPROVEMENTS, PROMOTION OF THE MUSEUM AND ITS MANY VARIED ACTIVITIES, SUPPORT FOR THE VOLUNTEER PROGRAM AND VOLUNTEER RECOGNITION, SUPPORT FOR THE MUSEUM EDUCATIONAL PROGRAMS INCLUDING SPACE CAMP, TEACHER TRAINING, HOME SCHOOL EVENTS, AND OTHER EDUCATIONAL ACTIVITIES AND SUPPORT FOR MUSEUM SPECIAL EVENTS SUCH AS MILITARY GROUP REUNIONS, CONCERTS, EXHIBIT OPENINGS, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Michael P Imhoff CEO | Officer | 50 | $183,333 |
Mr Christopher Adkins-Lamb Chief Development Officer | Officer | 50 | $142,005 |
Dr Pamela A Drew Chair | OfficerTrustee | 3.2 | $0 |
Cmsaf Ret Gerald R Murray Secretary | OfficerTrustee | 2.2 | $0 |
Lt Gen Ret Cd Moore II Vice Chair | OfficerTrustee | 2.2 | $0 |
Brig Gen Ret Paul R Cooper Treasurer | OfficerTrustee | 2.8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $397,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,878,669 |
| Noncash contributions included in lines 1a–1f | $112,864 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,276,069 |
| Total Program Service Revenue | $934,351 |
| Investment income | $385,718 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,289,642 |
| Net Income from Fundraising Events | -$44,190 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,232,520 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,102,292 |
| 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. | $349,917 |
| Compensation of current officers, directors, key employees. | $143,004 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,795,532 |
| Pension plan accruals and contributions | $85,052 |
| Other employee benefits | $112,870 |
| Payroll taxes | $184,498 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,931 |
| Fees for services: Accounting | $58,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $152,904 |
| Fees for services: Other | $7,996 |
| Advertising and promotion | $46,440 |
| Office expenses | $228,168 |
| Information technology | $30,769 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104,693 |
| Insurance | $29,263 |
| All other expenses | $55,357 |
| Total functional expenses | $4,319,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,700 |
| Savings and temporary cash investments | $4,240,319 |
| Pledges and grants receivable | $28,214 |
| Accounts receivable, net | $249,215 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $193,199 |
| Prepaid expenses and deferred charges | $63,176 |
| Net Land, buildings, and equipment | $435,241 |
| Investments—publicly traded securities | $22,930,737 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $24,022 |
| Other assets | $0 |
| Total assets | $28,184,823 |
| Accounts payable and accrued expenses | $450,655 |
| Grants payable | $0 |
| Deferred revenue | $6,879 |
| 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 | $457,534 |
| Net assets without donor restrictions | $26,642,694 |
| Net assets with donor restrictions | $1,084,595 |
| 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 | $28,184,823 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Air Force Museum Foundation Inc has recieved totaling $82,262.
| Awarding Organization | Amount |
|---|---|
The Spurlino Foundation Odessa, FL PURPOSE: GENERAL FUND OPERATING SUPPORT | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $24,650 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,362 |
James W Hart Jr And Patricia L Hart Foundation Bascom, FL PURPOSE: GENERAL OPERATING FUND | $1,000 |
Gardikes Family Foundation Inc Osprey, FL PURPOSE: EDUCATIONAL, SUPPORT | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indianapolis Symphony Orchestra Foundation Inc Indianapolis, IN | $120,040,413 | $10,534,808 |
Commonwealth Fund For Ket Inc Lexington, KY | $35,205,433 | $8,912,254 |
Minnetrista Cultural Foundation Inc Muncie, IN | $19,419,646 | $5,083,805 |
Toledo Alliance For The Performing Arts Toledo, OH | $24,676,048 | $6,839,703 |
Mary Louise Curtis Bok Foundation Philadelphia, PA | $100,159,634 | $12,712,681 |
Air Force Museum Foundation Inc Wright Patterson Afb, OH | $28,184,823 | $8,102,292 |
Pbs39 Foundation Corporation Bethlehem, PA | $103,089,426 | $11,164,328 |
Conner Prairie Foundation Inc Fishers, IN | $182,758,575 | $6,601,081 |
John L Severance Brooklyn, OH | $58,165,574 | $2,331,201 |
Air Zoo Legacy Foundation Portage, MI | $89,399,860 | $9,308,646 |
Academy Of Music Of Philadelphia Inc Philadelphia, PA | $30,910,650 | $3,266,946 |
Michigans Thanksgiving Parade Detroit, MI | $9,957,925 | $2,964,645 |