Faa Managers Association Inc
- Assets
- $2.3m
- Revenue
- $1.1m
- Investments
- $964.2k
- Employees
- 0
- Location
- Washington, DC
- Founding
- 08/2017
- Data as of
- 12/2023
- EIN
- 37-1426448
Organization Overview
Faa Managers Association Inc is located in Washington, DC. The organization was established in 2017. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a parent organization of an affiliated group for tax-exemption purposes. Faa Managers Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Faa Managers Association Inc generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $892.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AVIATION SAFETY AND EFFICIENCY AND SUPPORT THE IDEALS OF THE FEDERAL GOVERNMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAA MANAGERS ASSOCIATION, INC. ("FAAMA") ORGANIZES AND HOSTS AN ANNUAL NATIONAL TRAINING CONFERENCE FOR ITS MEMBERS AND OTHERS INTERESTED IN ATTENDING. THE TRAINING AGENDA FOR THE CONFERENCE IS REVIEWED AND APPROVED BY THE US DEPARTMENT OF TRANSPORTATION FEDERAL AVIATION ADMINISTRATION. THE FAA MUST COMPLY WITH STRICT CONGRESSIONAL DIRECTION REGARDING THE ADMINISTRATION CONTENT, DELIVERY AND EVALUATION OF ALL AGENCY FUNDED TRAINING. THE TRAINING WORKSHOPS PROVIDED AT THE CONFERENCE FALL WITHIN THE SCOPE OF THESE REQUIREMENTS. THE 2023 FAAMA CONVENTION HELD IN OCTOBER WAS IN PERSON AT THE GREEN VALLEY RANCH RESORT IN LAS VEGAS, NEVADA AND WAS ATTENDED BY 143 DELEGATES AND HAD 218 ATENDEES.
FAAMA PROVIDES LEADERSHIP TRAINING COURSES FOR ITS MEMBERS AND OTHER INTERESTED IN ATTENDING. CONTINUING EDUCATION CREDITS ARE AVAILABLE FOR ATTENDANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Burke Secretary | OfficerTrustee | 2 | $0 |
Denise Rager Treasurer | OfficerTrustee | 2 | $0 |
Wayne Hubbard Vice President | OfficerTrustee | 2 | $0 |
Andy Taylor Regional Director | Trustee | 2 | $0 |
Chris Citrola Regional Director | Trustee | 2 | $0 |
Michael Horn Regional Director | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $863,644 |
| Investment income | $40,776 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $213,855 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,139,214 |
| 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. | $54,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,600 |
| Fees for services: Lobbying | $94,699 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $584,907 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $892,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,277,882 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $40,089 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $964,167 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,282,138 |
| Accounts payable and accrued expenses | $85,124 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $85,124 |
| Net assets without donor restrictions | $2,197,014 |
| Net assets with donor restrictions | $0 |
| 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 | $2,282,138 |