Virginia Aeronautical Historical Society
- Assets
- $164.3k
- Revenue
- $46.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Fredericksburg, VA
- Founding
- 11/1982
- Data as of
- 12/2018
- EIN
- 54-1062849
Organization Overview
Virginia Aeronautical Historical Society is located in Fredericksburg, VA. The organization was established in 1982. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2018, Virginia Aeronautical Historical Society employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Aeronautical Historical Society 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 12/2018, Virginia Aeronautical Historical Society generated $46.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (15.5%) each year. All expenses for the organization totaled $183.1k during the year ending 12/2018. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVE VIRGINIA AVIATION HISTORY, PROVIDE AERONAUTICAL HISTORICAL EDUCATIONAL PROGRAMS, AND CREATE AN APPRECIATION OF VIRGINIA AIR AND SPACE HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPTAIN EARLE WORLEY SCHOLARSHIP FUND: TO SUPPORT SCHOLARSHIPS FOR VIRGINIA STUDENTS WHO PLAN TO STUDY AERONAUTICS, AEROSPACE, AVIATION, OR RELATED ENGNINEERING AT AN ACCREDITED FOUR-YEAR COLLEGE OR UNIVERSITY OR POST HIGH SCHOOL EDUCATIONAL OR VOCATIONAL SCHOOL IN THE UNITED STATES. TO BE ADMINISTERED THROUGH THE COMMUNITY FOUNDATION SERVING RICHMOND AND CENTRAL VIRGINIA ("TCF").
HALL OF FAME PROGRAM: TO HONOR AND CELEBRATE THE ACCOMPLISHMENTS OF SELECTED INDIVIDUALS WHO HAVE CONTRIBUTED SIGNIFICANTLY TO THE FIELD OF AVIATION DURING THEIR LIFETIME.
NEWSLETTER: THE QUARTERLY NEWSLETTER, PREPARED IN MAGAZINE FORMAT, EDUCATES READERS WITH A WIDE RANGE OF HISTORICAL ARTICLES. THE NEWSLETTER ALSO DISSEMINATES INFORMATION ABOUT THE ORGANIZATION AND ITS ACTIVITIES AS WELL AS CURRENT AVIATION EVENTS AND NEWS IN THE COMMONWEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Young Chairman | OfficerTrustee | 3 | $0 |
David Hahn Vice President | OfficerTrustee | 3 | $0 |
Gary Allen Secretary | OfficerTrustee | 3 | $0 |
Frank Lennon Treasurer | OfficerTrustee | 3 | $0 |
W Hunter Old President | OfficerTrustee | 3 | $0 |
Van Crosby Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $8,260 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,354 |
| Total Program Service Revenue | $12,250 |
| Investment income | $427 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $495 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,526 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,000 |
| Grants and other assistance to domestic individuals. | $200 |
| 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 | $22,617 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,038 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,741 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,038 |
| Office expenses | $16,796 |
| Information technology | $5,215 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $150 |
| 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 | $0 |
| Insurance | $354 |
| All other expenses | $3,298 |
| Total functional expenses | $183,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,609 |
| Savings and temporary cash investments | $73,622 |
| 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 | $0 |
| Investments—publicly traded securities | $24 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $75,000 |
| Total assets | $164,255 |
| 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 |
| Unrestricted restricted net Assets | $143,736 |
| Temporarily restricted net Assets | $20,519 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $164,255 |