Olympic Flight Museum
- Assets
- $633.0k
- Revenue
- $80.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Olympia, WA
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 91-1899948
Organization Overview
Olympic Flight Museum is located in Olympia, WA. The organization was established in 1998. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Olympic Flight Museum employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olympic Flight Museum 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, Olympic Flight Museum generated $80.0k 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 (10.8%) each year. All expenses for the organization totaled $86.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.6%) 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
THE PRESERVATION AND FLYING OF VINTAGE AIRCRAFT. THE MUSEUM WAS FOUNDED WITH THE GOAL OF BRINGING PEOPLE TOGETHER TO RELIVE, RECOLLECT, AND LEARN ABOUT AVIATION HISTORY. OUR MISSION IS TO DELIVER THE SIGHTS, SOUNDS, SMELLS, AND EXCITEMENT OF FLIGHT TO EVERY MUSEUM VISITOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINING MUSEUM OPERATIONS FOR PUBLIC BENEFIT PRESENTING EXHIBITS, INTERPRETATIONS, AND HERITAGE AVIATION EXPERIENCES. DUE TO COVID PANDEMIC THE MUSEUM HAS BEEN CLOSED SINCE MARCH 2020.
DEVELOP AVIATION EVENTS HOSTED BY THE MUSEUM TO PROMOTE INTEREST IN AVIATION AND THE PRESERVATION OF AVIATION HISTORY TO THE COMMUNITY. DUE TO COVID PANDEMIC MINIMAL EVENTS OCCURED.
OFF SITE APPEARANCES THOUGHOUT THE PACIFIC NORTHWEST TO PROMOTE EDUCATION AND AWARENESS OF AVIATION HISTORY. DUE TO THE COVID PANDEMIC EVENTS WERE CANCELLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robyn Reynolds Treasurer | OfficerTrustee | 1 | $0 |
Paul Faul Secretary | OfficerTrustee | 1 | $0 |
Brian Reynolds President | OfficerTrustee | 1 | $0 |
Jim Gibson Vice President | OfficerTrustee | 1 | $0 |
Brad Pilgrim Board Member | Trustee | 1 | $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 | $6,270 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,270 |
| Total Program Service Revenue | $8,582 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $9,800 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $45,755 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $79,951 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,212 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,240 |
| Fees for services: Management | $150 |
| 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 | $1,585 |
| Office expenses | $2,551 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $49,518 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $26 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,293 |
| Insurance | $1,584 |
| All other expenses | $684 |
| Total functional expenses | $85,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,923 |
| 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 | $8,561 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,053 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $615,456 |
| Total assets | $632,993 |
| 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 | $5,000 |
| Other liabilities | $265 |
| Total liabilities | $5,265 |
| Net assets without donor restrictions | $627,728 |
| 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 | $632,993 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Olympic Flight Museum has recieved totaling $2,606.
| Awarding Organization | Amount |
|---|---|
The Dimmer Family Foundation Tacoma, WA PURPOSE: GENERAL | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $106 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northwest Maritime Center Port Townsend, WA | $21,051,564 | $9,184,031 |
Burke Museum Association Seattle, WA | $1,429,157 | $2,025,349 |
Densho Seattle, WA | $2,629,365 | $2,391,669 |
Yakima Valley Museum & Hist Assn Yakima, WA | $9,407,246 | $1,269,577 |
Warhawk Air Museum Inc Nampa, ID | $5,473,516 | $2,607,121 |
The Willamette Heritage Center Salem, OR | $3,704,693 | $931,387 |
Columbia River Steamship Operators Association Portland, OR | $727,117 | $771,163 |
Valdez Museum And Historical Archive Association Incorporated Valdez, AK | $412,960 | $617,040 |
Alaska Aviation Heritage Museum Anchorage, AK | $6,679,112 | $631,265 |
Columbia Gorge Interpretive Center Stevenson, WA | $2,351,160 | $339,061 |
Port Townsend Aero Museum Port Townsend, WA | $7,746,029 | $1,457,196 |
Museum At Warm Springs Warm Springs, OR | $4,380,540 | $456,093 |