Liabilities / Assets
Score unavailable
Liabilities-to-assets requires both liabilities and assets on the latest valid filing.
Panther Aero Ltd
EIN 39-1268891 • 501(c)7 • Milwaukee, WI
Revoked990-N Coverage
Profile
Flight Training
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
No value available
Liabilities / Revenue
59th percentile
Tied with the lowest-debt nonprofits in its peer group.
Net Margin
72nd percentile
Higher net margin than 72% of similar nonprofits.
Top Officer Pay
94th percentile
Higher top officer pay than 94% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Revenue Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Balance Sheet
Assets
$0
No earlier filing loaded for comparison.
Liabilities
$0
No earlier filing loaded for comparison.
Net Assets
$0
No earlier filing loaded for comparison.
Revenue
$146,049
No earlier filing loaded for comparison.
Expenses
$127,714
No earlier filing loaded for comparison.
Net Income
$18,335
No earlier filing loaded for comparison.
Trend Graphs
Filings
Most recent year
2022 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $0
- Liabilities
- $0
- Net assets
- $0
- Revenue
- $146,049
- Expenses
- $127,714
- Net income
- $18,335
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2022 to Dec 31, 2022
- Signed
- Jun 25, 2024
- Return Version
- 2022v5.0
- Gross Receipts
- $146,049
Mission and Program Overview
Mission
Flight Training
Program Services
| Description | Grants | Expenses |
|---|---|---|
| Panther Aero was a nonprofit flying club developed for flight training. During 2022 Panther Aero had approximately 30 members all of whom were engaged in flight training at some level. All of the club expenses were directly related to this purpose. | $0 | $113,050 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Jamey Curry | President | PT | $0 | - | - |
| James Heinz | Board Member | PT | $0 | - | - |
| Marty Schmidt | Board Member | - | $0 | - | - |
Filing and Contact Details
Filer
- Filer Name
- Panther Aero Ltd
- EIN
- 39-1268891
- In Care Of
- % JAMEY CURRY
- Address
- 923 E LAYTON AVE, Milwaukee, WI 53207-5236
Signing Officer
- Name
- Jamey Curry
- Title
- President
- Signed
- 2024-06-25
- Discuss with paid preparer
- No
Supplemental Narrative
Additional Explanations
Item B - Amended Return
“Panther Aero Inc dissolved in 2022. After filing the 2022 Form 990-N and wrapping up the 501c7 organization we discovered that a Form 990-EZ should have been filed due to average gross receipts exceeding $50,000 for the year. We also learned that the sale of its assets triggered UBTI. This amended return corrects these issues. Additionally when originally filing the Form 990-N for the 2022 year we indicated that the corporation had terminated. However we understand that for some reason the IRS records do not reflect the termination. Therefore this amended return also reports that the organization has terminated operations.”
Part I, line 16
“| Other Expenses:, Amount:| Accounts Payable to Members, $18357.00|”
Part II, line 24
“| Asset Name:, BOY Amount:, EOY Amount:| Member Receivable, $1617, 0|”
Part II, line 26
“| Liabilities Name:, BOY Amount:, EOY Amount:| Accounts Payable, $20791, 0|”
Raw XML Appendix173 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
| IRS990EZ/ActivitiesNotPreviouslyRptInd | 0 | false |
| IRS990EZ/AmendedReturnInd | 0 | X |
| IRS990EZ/BooksInCareOfDetail/PersonNm | 0 | Jamey Curry |
| IRS990EZ/BooksInCareOfDetail/PhoneNum | 0 | 4145504925 |
| IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 3437 N Cramer St |
| IRS990EZ/BooksInCareOfDetail/USAddress/CityNm | 0 | Milwaukee |
| IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | WI |
| IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 53211 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt | 0 | 839 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt | 0 | 0 |
| IRS990EZ/ChgMadeToOrgnzngDocNotRptInd | 0 | false |
| IRS990EZ/CostOfGoodsSoldAmt | 0 | 0 |
| IRS990EZ/CostOrOtherBasisExpenseSaleAmt | 0 | 0 |
| IRS990EZ/DonorAdvisedFndsInd | 0 | false |
| IRS990EZ/ExcessOrDeficitForYearAmt | 0 | 18335 |
| IRS990EZ/FinalReturnInd | 0 | X |
| IRS990EZ/ForeignFinancialAccountInd | 0 | false |
| IRS990EZ/ForeignOfficeInd | 0 | false |
| IRS990EZ/Form1120PolFiledInd | 0 | false |
| IRS990EZ/Form990TotalAssetsGrp/BOYAmt | 0 | 2456 |
| IRS990EZ/Form990TotalAssetsGrp/EOYAmt | 0 | 0 |
| IRS990EZ/GainOrLossFromSaleOfAssetsAmt | 0 | 59200 |
| IRS990EZ/GrossProfitLossSlsOfInvntryAmt | 0 | 0 |
| IRS990EZ/GrossReceiptsAmt | 0 | 146049 |
| IRS990EZ/GrossReceiptsForPublicUseAmt | 0 | 0 |
| IRS990EZ/GrossSalesOfInventoryAmt | 0 | 0 |
| IRS990EZ/InfoInScheduleOPartIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIInd | 0 | X |
| IRS990EZ/InitiationFeesAndCapContriAmt | 0 | 0 |
| IRS990EZ/MadeLoansToFromOfficersInd | 0 | false |
| IRS990EZ/MethodOfAccountingCashInd | 0 | X |
| IRS990EZ/NetAssetsOrFundBalancesBOYAmt | 0 | -18335 |
| IRS990EZ/NetAssetsOrFundBalancesEOYAmt | 0 | 0 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt | 0 | -18335 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt | 0 | 0 |
| IRS990EZ/OccupancyRentUtltsAndMaintAmt | 0 | 109357 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 0 | 25 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 1 | 5 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 2 | 1 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 0 | Jamey Curry |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 1 | James Heinz |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 2 | Marty Schmidt |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 0 | President |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 1 | Board Member |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 2 | Board Member |
| IRS990EZ/OperateHospitalInd | 0 | false |
| IRS990EZ/Organization501cInd | 0 | X |
| IRS990EZ/OrganizationDissolvedEtcInd | 0 | true |
| IRS990EZ/OrganizationFiled990TInd | 0 | true |
| IRS990EZ/OrganizationHadUBIInd | 0 | true |
| IRS990EZ/OtherAssetsTotalDetail/BOYAmt | 0 | 1617 |
| IRS990EZ/OtherAssetsTotalDetail/EOYAmt | 0 | 0 |
| IRS990EZ/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990EZ/OtherExpensesTotalAmt | 0 | 18357 |
| IRS990EZ/PoliticalCampaignActyInd | 0 | false |
| IRS990EZ/PrimaryExemptPurposeTxt | 0 | Flight Training |
| IRS990EZ/ProgramServiceRevenueAmt | 0 | 86849 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 0 | Panther Aero was a nonprofit flying club developed for flight training. During 2022 Panther Aero had approximately 30 members all of whom were engaged in flight training at some level. All of the club expenses were directly related to this purpose. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt | 0 | 0 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 0 | 113050 |
| IRS990EZ/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990EZ/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990EZ/SaleOfAssetsGrossAmt | 0 | 59200 |
| IRS990EZ/ScheduleBNotRequiredInd | 0 | X |
| IRS990EZ/SubjectToProxyTaxInd | 0 | false |
| IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt | 0 | 20791 |
| IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt | 0 | 0 |
| IRS990EZ/TanningServicesProvidedInd | 0 | false |
| IRS990EZ/TotalExpensesAmt | 0 | 127714 |
| IRS990EZ/TotalProgramServiceExpensesAmt | 0 | 113050 |
| IRS990EZ/TotalRevenueAmt | 0 | 146049 |
| IRS990EZ/TransactionWithControlEntInd | 0 | false |
| IRS990EZ/TypeOfOrganizationOtherDesc | 0 | LTD |
| IRS990EZ/TypeOfOrganizationOtherInd | 0 | X |
| IRS990ScheduleN/AssetsDistributedInd | 0 | true |
| IRS990ScheduleN/AttorneyGeneralNotifiedInd | 0 | true |
| IRS990ScheduleN/BondsOutstandingInd | 0 | false |
| IRS990ScheduleN/DirectorOfSuccessor2Ind | 0 | false |
| IRS990ScheduleN/DirectorOfSuccessorInd | 0 | false |
| IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 0 | 1977 Cessna 152 Aircraft |
| IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 1 | 1978 Cessna 172 Aircraft |
| IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt | 0 | Milwaukee Aero LLC |
| IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt | 0 | 2022-12-01 |
| IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt | 1 | 2022-12-01 |
| IRS990ScheduleN/DispositionOfAssetsDetail/EIN | 0 | 861865931 |
| IRS990ScheduleN/DispositionOfAssetsDetail/EIN | 1 | 861865931 |
| IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt | 0 | 14000 |
| IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt | 1 | 45200 |
| IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt | 0 | LLC |
| IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt | 1 | LLC |
| IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt | 0 | Comparables |
| IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt | 1 | Comparables |
| IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm | 0 | Milwaukee Aero LLC |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt | 0 | 3437 N Cramer St |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt | 1 | 3437 N Cramer St |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm | 0 | Milwaukee |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm | 1 | Milwaukee |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd | 0 | WI |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd | 1 | WI |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd | 0 | 53211 |
| IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd | 1 | 53211 |
| IRS990ScheduleN/EmployeeOfSuccessor2Ind | 0 | false |
| IRS990ScheduleN/EmployeeOfSuccessorInd | 0 | false |
| IRS990ScheduleN/LiabilitiesPaidInd | 0 | true |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 0 | 1977 Cessna 152 Aircraft |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 1 | 1978 Cessna 172 Aircraft |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt | 0 | Milwaukee Aero LLC |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt | 0 | 2022-12-01 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt | 1 | 2022-12-01 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN | 0 | 861865931 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN | 1 | 861865931 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt | 0 | 14000 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt | 1 | 45200 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt | 0 | LLC |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt | 1 | LLC |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt | 0 | Comparables |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt | 1 | Comparables |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm | 0 | Milwaukee Aero LLC |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt | 0 | 3437 N Cramer St |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt | 1 | 3437 N Cramer St |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm | 0 | Milwaukee |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm | 1 | Milwaukee |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd | 0 | WI |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd | 1 | WI |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd | 0 | 53211 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd | 1 | 53211 |
| IRS990ScheduleN/OwnerOfSuccessor2Ind | 0 | true |
| IRS990ScheduleN/OwnerOfSuccessorInd | 0 | true |
| IRS990ScheduleN/ReceiveCompensation2Ind | 0 | false |
| IRS990ScheduleN/ReceiveCompensationInd | 0 | false |
| IRS990ScheduleN/RequiredToNotifyAGInd | 0 | true |
| IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt | 0 | The organization operated as a social club to promote flight training and education. Due to increasing debts, mounting operational costs and limited gross receipts, the continued operation of the 501(c)(7) became fiscally impractical. Per the board of directors and membership approval, the organization sold its assets to the board president, Jamey Curry, who has continued to provide flight training to the community in a for-profit endeavor. The organization paid off its debt obligations and terminated. |
| IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt | 1 | The organization operated as a social club to promote flight training and education. Due to increasing debts, mounting operational costs and limited gross receipts, the continued operation of the 501(c)(7) became fiscally impractical. Per the board of directors and membership approval, the organization sold its assets to the board president, Jamey Curry, who has continued to provide flight training to the community in a for-profit endeavor. The organization paid off its debt obligations and terminated. |
| IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part1Line2 |
| IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part2Line2 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Panther Aero Inc dissolved in 2022. After filing the 2022 Form 990-N and wrapping up the 501c7 organization we discovered that a Form 990-EZ should have been filed due to average gross receipts exceeding $50,000 for the year. We also learned that the sale of its assets triggered UBTI. This amended return corrects these issues. Additionally when originally filing the Form 990-N for the 2022 year we indicated that the corporation had terminated. However we understand that for some reason the IRS records do not reflect the termination. Therefore this amended return also reports that the organization has terminated operations. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | | Other Expenses:, Amount:| Accounts Payable to Members, $18357.00| |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | | Asset Name:, BOY Amount:, EOY Amount:| Member Receivable, $1617, 0| |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | | Liabilities Name:, BOY Amount:, EOY Amount:| Accounts Payable, $20791, 0| |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Item B - Amended Return |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part I, line 16 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Part II, line 24 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Part II, line 26 |
| ReturnHeader/BuildTS | 0 | 2023-04-26 12:10:37Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | false |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Jamey Curry |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | President |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2024-06-25 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | PANTHER AERO LTD |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | PANT |
| ReturnHeader/Filer/EIN | 0 | 391268891 |
| ReturnHeader/Filer/ForeignPhoneNum | 0 | 4145504925 |
| ReturnHeader/Filer/InCareOfNm | 0 | % JAMEY CURRY |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 923 E LAYTON AVE |
| ReturnHeader/Filer/USAddress/CityNm | 0 | Milwaukee |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | WI |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 532075236 |
| ReturnHeader/ReturnTs | 0 | 2024-06-25T03:55:40-04:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm | 0 | Jamey |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm | 0 | Curry |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2022-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2022-12-31 |
| ReturnHeader/TaxYr | 0 | 2022 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.