Eaa Aviation Foundation Inc.

“SCHEDULE D, PART III, LINE 4 THE EAA AVIATION Foundation, INC. along with the EAA Aviation Museum, maintains a collection of historic aircraft, artifacts, and archival materials related to the history of aviation with an emphasis on recreational aviation. The collection includes APPROXIMATELY 230 aircraft, approximately 17,000 artifacts, 20,000 BOOKS AND PERIODICALS, 750,000 PHOTOGRAPHS AND 8,500 HOURS OF FILM AND VIDEO. The Foundation loans the collection to EAA and EAA makes these collections available to the general public through on-site exhibits in the public museum, educational programming, a research library, and web-based content that attracts millions of visits each year. Through its collections, EAA explores and celebrates aviation's past and the Spirit of Aviation to encourage learning, discovery, and engagement with aviation.”

“Schedule d, part v, line 4 the intended uses of eaa foundation's endowment funds are to provide support to eaa for general operations, scholarships, internships, young eagles program, other youth education programs, flight safety programs, support of women in aviation, and aviation museum collections.”

“SCHEDULE D, PART X, LINE 2 THE ASSOCIATION HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS"), DATED NOVEMBER 3, 1993, STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). THE FOUNDATION HAS RECEIVED A DETERMINATION LETTER FROM THE IRS, DATED OCTOBER 30, 1964, STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE IRC. THE ASSOCIATION AND FOUNDATION PAY UNRELATED BUSINESS INCOME TAX ON CERTAIN OF ITS ACTIVITIES, WHICH ARE DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. AS REQUIRED BY THE UNCERTAIN TAX POSITION GUIDANCE, THE ASSOCIATION AND THE FOUNDATION RECOGNIZE THE FINANCIAL STATEMENT BENEFIT OF A TAX POSITION ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. FOR TAX POSITIONS MEETING THE MORE-LIKELY-THAN-NOT THRESHOLD, THE AMOUNT RECOGNIZED IN THE FINANCIAL STATEMENTS IS THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAX AUTHORITY. THE ASSOCIATION AND THE FOUNDATION APPLIED THE UNCERTAIN TAX POSITION GUIDANCE TO ALL TAX POSITIONS FOR WHICH THE STATUTE OF LIMITATIONS REMAINED OPEN AND DETERMINED THERE WERE NO MATERIAL UNRECOGNIZED TAX BENEFITS AS OF FEBRUARY 29, 2020 AND FEBRUARY 28, 2019. THERE WERE NO INTEREST OR PENALTIES RELATED TO INCOME TAX THAT HAVE BEEN ACCRUED OR RECOGNIZED AS OF AND FOR THE YEARS ENDED FEBRUARY 29, 2020 AND FEBRUARY 28, 2019. On December 20, 2019, tax reform legislation commonly known as the Taxpayer Certainly and Disaster Tax Relief Act was passed, resulting in modifications to existing tax law, particularly repealing the Federal taxation of transportation fringe benefits on exempt employers. While there were no material effects on the consolidated financial statements as a result of the Act, management is still evaluating the ongoing impact of the Act on the Association and the Foundation.”

“Schedule d, part xi, line 2d change in beneficial interest: split interest agreements ($51,003) fundraising direct expenses $610,131 change in cash surrender value: life insurance ($32,988) --------- total $526,140 schedule d, part xi, line 4b auction items excess contributions $33,079 gifts in kind reported for tax ($279,659) --------- total ($246,580)”

“Schedule d, part xii, line 2d fundraising direct expenses $610,131”