Liabilities / Assets
60th percentile
Tied with the lowest-debt nonprofits in its peer group.
EIN 45-5502052 • 501(c)3 • Minneapolis, MN
Profile
AirSpace Minnesota uses the joy of flight to inspire dreams that build bright futures. We will honor our legacy, showcase today's innovators and give learners skills to navigate their world and beyond.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
60th percentile
Tied with the lowest-debt nonprofits in its peer group.
Liabilities / Revenue
62nd percentile
Tied with the lowest-debt nonprofits in its peer group.
Net Margin
2nd percentile
Higher net margin than 2% of similar nonprofits.
Top Officer Pay
95th percentile
Higher top officer pay than 95% of similar nonprofits.
Top officer pay equals 67.9% of source-year revenue.
Asset Growth
10th percentile
Faster asset growth than 10% of similar nonprofits.
Revenue Growth
5th percentile
Faster revenue growth than 5% of similar nonprofits.
Assets
Down$1
Down $32,710 (-100%) from 2018
Liabilities
Flat$0
Flat from 2018
Net Assets
Down$0
Down $32,711 (-100%) from 2018
Revenue
Down$1,815
Down $83,785 (-98%) from 2018
Expenses
Down$34,526
Down $111,421 (-76%) from 2018
Net Income
Up-$32,711
Up $27,636 (+46%) from 2018
Most recent year
2019 • Form 990Summary only. Only limited summary data is available for this year.
The latest 2019 filing currently has summary financial data only. Showing the latest detailed filing from 2016 below.
AirSpace Minnesota uses the joy of flight to inspire dreams that build bright futures. We will honor our legacy, showcase today's innovators and give learners skills to navigate their world and beyond.
AirSpace Minnesota uses the joy of flight to inspire dreams that build bright futures.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $54,647 | $25,654 | ▼ $28,993 |
| Land, Buildings, and Equipment, Net | $20,526 | $15,321 | ▼ $5,205 |
| Pledges and Grants Receivable | $20,000 | $10,000 | ▼ $10,000 |
| Inventories for Sale or Use | $3,121 | $3,095 | ▼ $26 |
| Total Assets | $99,564 | $55,340 | ▼ $44,224 |
| Other Assets Total | $1,270 | $1,270 | → $0 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $14,001 | $9,608 | ▼ $4,393 |
| Total Liabilities | $14,001 | $9,608 | ▼ $4,393 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $41,272 | $35,732 | ▼ $5,540 |
| Temporarily Rstr Net Assets | $44,291 | $10,000 | ▼ $34,291 |
| Total Net Assets Fund Balance | $85,563 | $45,732 | ▼ $39,831 |
| Total Liabilities and Net Assets / Fund Balance | $99,564 | $55,340 | ▼ $44,224 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $15,321 | $16,887 | - |
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Kristi Rollag Wangstad | President | FT | $61,647 | $61,647 |
| Name | Title |
|---|---|
| Dale Klapmeier | Board Chair |
| Mark Skarohlid | Vice Chair |
| Bruce Kitt | Director |
| Colonel Michael Ott | Director |
| Gregg Strathy MD MS | Director |
| Jerry Schultz | Director |
| Ray Rought | Director |
| Steve Bruss | Director |
| Tim Barzen | Director |
| Tom Wiesen | Director |
| Colonel Bernard Gruber retired | Secretary |
| Jim Smith | Treasurer |
| Line Item | Amount |
|---|---|
| Other Expenses | $82,559 |
| Salaries, Compensation, and Employee Benefits | $48,000 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Current Officers, Directors, Trustees, and Key Employees | $36,000 | $12,000 | - | $48,000 |
| Fees for Services Other | $35,492 | - | - | $35,492 |
| Advertising | - | $6,208 | - | $6,208 |
| Depreciation Depletion | - | $5,205 | - | $5,205 |
| Fees for Services Accounting | - | $5,000 | - | $5,000 |
| Office Expenses | $725 | $3,217 | - | $3,942 |
| Occupancy | - | $2,625 | - | $2,625 |
| Insurance | - | $1,527 | - | $1,527 |
| Information Technology | - | $730 | - | $730 |
| Interest | - | $152 | - | $152 |
| Other Expenses | $20,440 | $25 | - | $25 |
| Total Functional Expenses | $92,657 | $37,902 | $0 | $130,559 |
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $137,918 |
| Expenses per Audited Statements | $130,559 |
| Total Expenses per Form 990 | $130,559 |
| Expenses Not Reported on Form 990 | $7,359 |
| Expenses Not Reported on Financial Statements | $0 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
“Reviewed by Board of Directors.”
“Each trustee, officer, member of a committee with board-delegated powers, and employee signs a statement that affirms that such person has received a copy of the conflict of interest/duality policy, has read and understands the policy, and has agreed to comply with the policy.”
“The organization will provide the governing documents and financial statements upon request.”
“AirSpace Minnesota is a 501(c)(3) nonprofit collaborative formed to honor and grow the region's innovation legacy. Using the unique power of flight to ignite imaginations, AirSpace Minnesota partners work together to: COMMEMORATE: Honor those who build and serve. EDUCATE: Learn from the past and prepare for the future. INNOVATE: Showcase people and ideas at work. Every learner needs sufficient motivation to work hard and persevere, skills necessary to progress, and a continuum of support leading to post-secondary education, training and careers. According to Wilder Research, nearly 60 percent of Minnesota's 4th graders express a high interest in science, but by high school, only 4 percent of graduates are interested in, and prepared for, STEM*-related pursuits (*science, technology, engineering & mathematics). Programming related to the past, present and future of flight has a remarkable power to engage interest. This content provides an ideal platform to inspire learners through engaging exhibits and stories of extraordinary role models; to expand the future skilled workforce through hands-on STEM-based learning opportunities; and to demonstrate STEM in action by showcasing individuals, organizations and pathways to success. The AirSpace Minnesota board of directors reflects the breadth of organizations with a connection to flight and includes these nonprofit heritage partners: Minnesota Air National Guard Historical Foundation, Minnesota Aviation Hall of Fame, Minnesota Aviation History & Education Center, Minnesota Submarine League and the NWA History Centre. AirSpace Minnesota was created in 2012 to address the critical need to celebrate the region's extraordinary innovation legacy and to provide a home for the heritage partners, which each lack adequate facilities and resources to preserve and share their priceless stories and artifacts. The vision is to establish an air and space learning campus adjacent to MSP International Airport on the Upper Post of Fort Snelling. Cited as a signature project in the Fort Snelling Light Rail Transit and Upper Post Master Plan, this initiative can provide a major catalyst in the critically needed revitalization of one of the state's most historically significant sites and create a new regional economic asset, drawing visitors from near and far. Proximity to Minneapolis-St. Paul International Airport - the gateway to the region - provides amazing access to out-of-state visitors and convenience for state and regional residents. Direct access to the airport also will enable special fly-in assets to be shared with the public. This showcase of innovation will significantly strengthen the area's unique hub of visitor attractions and economic activity, which includes Historic Fort Snelling and the Fort Snelling State Park, where the mighty Mississippi and Minnesota Rivers come together. This center would provide a showcase for many regional innovation stories including: - In 1920 Captain Ray Miller and Lt. Col. William Garis traveled for eight days from St. Paul to Washington, D.C. to successfully lobby for the 1st National Guard aviation unit. - Northwest Airways took off in 1926 with a couple of rented biplanes and in less than a year flew the nation's first closed-cabin commercial plane. - 3M's ongoing role in air & space exploration has ranged from the Scotch tape on Dr. Jean Piccard's 1936 balloon to Neil Armstrong's space boots on the moon. - Pressure suits, G-suits and oxygen systems have been tested and improved for decades by Mayo Clinic, helping people survive and flourish in new environments. - The electric autopilot developed by Honeywell during WWII saved countless U.S. lives and helped launch Honeywell's status as a global avionics leader. - From air to ground radio communications to satellite-based TV broadcasting, Hubbard Broadcasting has been a technology leader in news gathering and dissemination. - The black box flight recorder, astronaut food sticks, balloon research in up”
“Outside Contract Services: Program service expenses 72. Management and general expenses 0. Fundraising expenses 0. Total expenses 72. Consulting Fees: Program service expenses 35,420. Management and general expenses 0. Fundraising expenses 0. Total expenses 35,420.”
“No change in process from prior year.”
“The Organization assesses whether it is more likely than not that a tax position will be sustained upon examination of the technical merits of the position, assuming the taxing authority has full knowledge of all information. If the tax position does not meet the more likely than not recognition threshold, the benefit of the tax position is not recognized in the financial statements. The Organization recorded no assets or liabilities for uncertain tax positions or unrecognized benefits. Federal returns for the years ended 2013 and thereafter are subject to examination by the IRS, generally for three years after filed.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/Desc | 0 | Connecting young people with role models past and present while engaging in hands-on science, technology, engineering and mathematics (STEM) education experiences. |
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| IRS990/MissionDesc | 0 | AirSpace Minnesota uses the joy of flight to inspire dreams that build bright futures. We will honor our legacy, showcase today's innovators and give learners skills to navigate their world and beyond. |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | The Organization assesses whether it is more likely than not that a tax position will be sustained upon examination of the technical merits of the position, assuming the taxing authority has full knowledge of all information. If the tax position does not meet the more likely than not recognition threshold, the benefit of the tax position is not recognized in the financial statements. The Organization recorded no assets or liabilities for uncertain tax positions or unrecognized benefits. Federal returns for the years ended 2013 and thereafter are subject to examination by the IRS, generally for three years after filed. |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | AirSpace Minnesota is a 501(c)(3) nonprofit collaborative formed to honor and grow the region's innovation legacy. Using the unique power of flight to ignite imaginations, AirSpace Minnesota partners work together to: COMMEMORATE: Honor those who build and serve. EDUCATE: Learn from the past and prepare for the future. INNOVATE: Showcase people and ideas at work. Every learner needs sufficient motivation to work hard and persevere, skills necessary to progress, and a continuum of support leading to post-secondary education, training and careers. According to Wilder Research, nearly 60 percent of Minnesota's 4th graders express a high interest in science, but by high school, only 4 percent of graduates are interested in, and prepared for, STEM*-related pursuits (*science, technology, engineering & mathematics). Programming related to the past, present and future of flight has a remarkable power to engage interest. This content provides an ideal platform to inspire learners through engaging exhibits and stories of extraordinary role models; to expand the future skilled workforce through hands-on STEM-based learning opportunities; and to demonstrate STEM in action by showcasing individuals, organizations and pathways to success. The AirSpace Minnesota board of directors reflects the breadth of organizations with a connection to flight and includes these nonprofit heritage partners: Minnesota Air National Guard Historical Foundation, Minnesota Aviation Hall of Fame, Minnesota Aviation History & Education Center, Minnesota Submarine League and the NWA History Centre. AirSpace Minnesota was created in 2012 to address the critical need to celebrate the region's extraordinary innovation legacy and to provide a home for the heritage partners, which each lack adequate facilities and resources to preserve and share their priceless stories and artifacts. The vision is to establish an air and space learning campus adjacent to MSP International Airport on the Upper Post of Fort Snelling. Cited as a signature project in the Fort Snelling Light Rail Transit and Upper Post Master Plan, this initiative can provide a major catalyst in the critically needed revitalization of one of the state's most historically significant sites and create a new regional economic asset, drawing visitors from near and far. Proximity to Minneapolis-St. Paul International Airport - the gateway to the region - provides amazing access to out-of-state visitors and convenience for state and regional residents. Direct access to the airport also will enable special fly-in assets to be shared with the public. This showcase of innovation will significantly strengthen the area's unique hub of visitor attractions and economic activity, which includes Historic Fort Snelling and the Fort Snelling State Park, where the mighty Mississippi and Minnesota Rivers come together. This center would provide a showcase for many regional innovation stories including: - In 1920 Captain Ray Miller and Lt. Col. William Garis traveled for eight days from St. Paul to Washington, D.C. to successfully lobby for the 1st National Guard aviation unit. - Northwest Airways took off in 1926 with a couple of rented biplanes and in less than a year flew the nation's first closed-cabin commercial plane. - 3M's ongoing role in air & space exploration has ranged from the Scotch tape on Dr. Jean Piccard's 1936 balloon to Neil Armstrong's space boots on the moon. - Pressure suits, G-suits and oxygen systems have been tested and improved for decades by Mayo Clinic, helping people survive and flourish in new environments. - The electric autopilot developed by Honeywell during WWII saved countless U.S. lives and helped launch Honeywell's status as a global avionics leader. - From air to ground radio communications to satellite-based TV broadcasting, Hubbard Broadcasting has been a technology leader in news gathering and dissemination. - The black box flight recorder, astronaut food sticks, balloon research in up |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Reviewed by Board of Directors. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Each trustee, officer, member of a committee with board-delegated powers, and employee signs a statement that affirms that such person has received a copy of the conflict of interest/duality policy, has read and understands the policy, and has agreed to comply with the policy. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | The organization will provide the governing documents and financial statements upon request. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | Outside Contract Services: Program service expenses 72. Management and general expenses 0. Fundraising expenses 0. Total expenses 72. Consulting Fees: Program service expenses 35,420. Management and general expenses 0. Fundraising expenses 0. Total expenses 35,420. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | No change in process from prior year. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part III, Line 4a |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section B, line 11 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section B, line 12c |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section C, line 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part IX, line 11g |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990, Part XII, Line 2c |
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