Mid-America Air Museum Foundation Liberal Kansas
- Assets
- $1.1m
- Revenue
- $112.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Liberal, KS
- Founding
- 12/1987
- Data as of
- 12/2021
- EIN
- 48-1039353
Organization Overview
Mid-America Air Museum Foundation Liberal Kansas is located in Liberal, KS. The organization was established in 1987. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-America Air Museum Foundation Liberal Kansas 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, Mid-America Air Museum Foundation Liberal Kansas generated $112.2k 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 (5.9%) each year. All expenses for the organization totaled $43.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (16.1%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DISPLAYS, EXHIBITS AND EDUCATION PROGRAMS REGARDING FLIGHT AND AVIATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH THE SUPPORT GIVEN TO THE MUSEUM FOR EXHIBITS AND OTHER ITEMS, WE GIVE THE PUBLIC AN OPPORTUNITY TO EDUCATE THEMSELVES ABOUT OUR NATION'S AVIATION HISTORY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Strickland Treasurer | Officer | 1 | $0 |
Steve Merz President | Officer | 1 | $0 |
Doug Hibbs Secretary | Officer | 1 | $0 |
Todd Carter Member | Officer | 1 | $0 |
John Smith Member | Officer | 1 | $0 |
Bill Lyddon Member | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,550 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,486 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,036 |
| Total Program Service Revenue | $0 |
| Investment income | $86,490 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,198 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,139 |
| 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. | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $719 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $370 |
| Insurance | $0 |
| All other expenses | $3,011 |
| Total functional expenses | $43,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,375 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,366 |
| Investments—publicly traded securities | $1,085,211 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,109,952 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $272,656 |
| Net assets with donor restrictions | $837,296 |
| 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 | $1,109,952 |
Endowment Analysis
| Beg. Balance | $617,614 |
| Ending Balance | $617,614 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oklahoma City National Memorial Foundation Oklahoma City, OK | $43,932,179 | $4,892,726 |
Denver Art Museum Foundation Denver, CO | $207,954,853 | $33,249,188 |
Friends Of Oeta Inc Oklahoma City, OK | $52,803,812 | $14,188,991 |
Opas Foundation Omaha, NE | $216,930,638 | $54,646,266 |
St Louis Art Museum Foundation St Louis, MO | $296,394,608 | $22,752,701 |
Dmns Foundation Denver, CO | $168,202,725 | $31,941,607 |
Clyfford Still Museum Foundation Denver, CO | $160,969,221 | $5,009,227 |
Science Museum Oklahoma Affiliated Fund Of Occf Inc Oklahoma City, OK | $67,323,215 | $1,438,504 |
World Chess Museum Inc St Louis, MO | $1,624,573 | $2,628,298 |
Helen G Bonfils Foundation Denver, CO | $34,648,703 | $452,300 |
Great Platte River Road Memorial Foundation Kearney, NE | $17,944,245 | $1,032,269 |
Aspen Art Museum Foundation Aspen, CO | $41,258,930 | $3,796,374 |