Eaa Aviation Foundation Inc.

“Collections of arts and historical treasures exempt purpose 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.”

“Intended uses of organization's endowment funds 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.”

“Organization's liability for uncertain tax positions under fin 48 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 28, 2021 and february 29, 2020. There were no interest or penalties related to income tax that have been accrued or recognized as of and for the years ended february 28, 2021 and february 29, 2020.”

“Change in beneficial interest: split interest agmt 461,925.”

“Fundraising direct expenses -10,558.”

“Fundraising direct expenses 10,558. Change in cash surrender value: life insurance 58,195. Adjustment to bad debt allowance 93,043.”