Civic Intelligence

Sullenberger Aviation Museum

990 • Fiscal year 2014 • EIN 56-1769105

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 09, 2015

4672 First Flight DriveCharlotte, NC 28208

(704) 997-3770

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.37x

Higher debt load relative to assets than 78% of similar nonprofits.

2014 filings • NTEE A • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

73rd percentile

0.22x

Higher debt load relative to revenue than 73% of similar nonprofits.

2014 filings • NTEE A • $500k-$1M nonprofits • Source year 2014

Net Margin

61st percentile

7.2%

Higher net margin than 61% of similar nonprofits.

2014 filings • NTEE A • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

68th percentile

$50,108

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 9.1% of source-year revenue.

2014 filings • NTEE A • $500k-$1M nonprofits • Source year 2014

Asset Growth

1st percentile

-88%

Faster asset growth than 1% of similar nonprofits.

2014 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

1st percentile

-68%

Faster revenue growth than 1% of similar nonprofits.

2014 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2013 to 2014

Assets

Down

$321,667

Down $2,293,832 (-88%) from 2013

Net Assets

Down

$202,375

Down $2,280,760 (-92%) from 2013

Liabilities

Down

$119,292

Down $13,072 (-9.9%) from 2013

Revenue

Down

$552,531

Down $1,180,782 (-68%) from 2013

Expenses

Down

$512,687

Down $329,540 (-39%) from 2013

Net Income

Down

$39,844

Down $851,242 (-96%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2011: $1,593,580Liabilities 2011: $110,631Net Assets 2011: $1,482,9492011Assets 2012: $1,683,648Liabilities 2012: $91,599Net Assets 2012: $1,592,0492012Assets 2013: $2,615,499Liabilities 2013: $132,364Net Assets 2013: $2,483,1352013Assets 2014: $321,667Liabilities 2014: $119,292Net Assets 2014: $202,3752014Assets 2015: $314,186Liabilities 2015: $113,443Net Assets 2015: $200,7432015Assets 2016: $314,572Liabilities 2016: $114,116Net Assets 2016: $200,4562016Assets 2017: $735,324Liabilities 2017: $79,476Net Assets 2017: $655,8482017Assets 2018: $670,804Liabilities 2018: $85,061Net Assets 2018: $585,7432018Assets 2019: $629,546Liabilities 2019: $75,932Net Assets 2019: $553,6142019Assets 2020: $500,939Liabilities 2020: $152,779Net Assets 2020: $348,1602020Assets 2021: $2,163,252Liabilities 2021: $243,416Net Assets 2021: $1,919,8362021Assets 2022: $6,687,873Liabilities 2022: $63,641Net Assets 2022: $6,624,2322022Assets 2023: $25,323,507Liabilities 2023: $4,122,796Net Assets 2023: $21,200,7112023Assets 2024: $25,355,405Liabilities 2024: $3,736,742Net Assets 2024: $21,618,6632024Assets 2025: $27,850,829Liabilities 2025: $4,256,019Net Assets 2025: $23,594,8102025

Highlighted filing

2014

Assets$321,667
Liabilities$119,292
Net Assets$202,375

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $968,255Expenses 2011: $664,557Net Income 2011: $303,6982011Revenue 2012: $943,432Expenses 2012: $834,334Net Income 2012: $109,0982012Revenue 2013: $1,733,313Expenses 2013: $842,227Net Income 2013: $891,0862013Revenue 2014: $552,531Expenses 2014: $512,687Net Income 2014: $39,8442014Revenue 2015: $525,426Expenses 2015: $526,485Net Income 2015: -$1,0592015Revenue 2016: $603,989Expenses 2016: $604,276Net Income 2016: -$2872016Revenue 2017: $1,117,302Expenses 2017: $661,910Net Income 2017: $455,3922017Revenue 2018: $890,591Expenses 2018: $976,178Net Income 2018: -$85,5872018Revenue 2019: $1,095,520Expenses 2019: $1,132,021Net Income 2019: -$36,5012019Revenue 2020: $383,782Expenses 2020: $588,690Net Income 2020: -$204,9082020Revenue 2021: $2,077,957Expenses 2021: $506,281Net Income 2021: $1,571,6762021Revenue 2022: $5,464,854Expenses 2022: $760,458Net Income 2022: $4,704,3962022Revenue 2023: $17,510,185Expenses 2023: $2,933,706Net Income 2023: $14,576,4792023Revenue 2024: $3,086,970Expenses 2024: $2,669,018Net Income 2024: $417,9522024Revenue 2025: $4,868,793Expenses 2025: $2,892,646Net Income 2025: $1,976,1472025

Highlighted filing

2014

Revenue$552,531
Expenses$512,687
Net Income$39,844
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 9, 2015
Return Version
2013v4.0
Gross Receipts
$642,164
Mission and Program Overview

Mission

- Inspire present and future generations of aerospace and STEM innovators;- Educate on the impact of aviation and aerospace in our lives, culture, and economy;- Elevate diversity in STEM and aerospace to catalyze economic mobility

By telling the stories of the people who shaped our aviation heritage, the Carolinas Aviation Museum inspires future generations to write aviation's next chapter.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$213,563$222,972▲ $9,409
Savings and Temporary Cash Investments$23,635$30,256▲ $6,621
Accounts Receivable-$30,000-
Inventories for Sale or Use$35,836$21,344▼ $14,492
Cash and Non-Interest-Bearing Accounts$14,641$7,942▼ $6,699
Prepaid Expenses and Deferred Charges$3,572$7,877▲ $4,305
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$2,615,499$321,667▼ $2,293,832
Other Assets Total$2,324,252$1,276▼ $2,322,976
Liabilities
Mortgage Notes Payable Secured by Investment Property$69,135$67,461▼ $1,674
Accounts Payable and Accrued Expenses$50,572$36,504▼ $14,068
Other Liabilities$6,011$9,778▲ $3,767
Deferred Revenue$6,646$5,549▼ $1,097
Total Liabilities$132,364$119,292▼ $13,072
Net Assets / Fund Balance
Unrestricted Net Assets$2,468,121$188,361▼ $2,279,760
Temporarily Rstr Net Assets$15,014$14,014▼ $1,000
Total Net Assets Fund Balance$2,483,135$202,375▼ $2,280,760
Total Liabilities and Net Assets / Fund Balance$2,615,499$321,667▼ $2,293,832

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$160,015$45,483$205,498
Equipment$53,303$136,136$189,439
Other Land Buildings$9,654$7,343$16,997
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Harold Coppinger JrExecutive DirectorFT$50,108$50,108

Board Members and Trustees

NameTitle
Shawn DorschPresident
Don CreasonVice President
Brent VandervortDirector
Chuck AllenDirector
John SuttleDirector
Rod DeanDirector
Wayne MorseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$115,420
Program Service Revenue
$387,445
Investment Income
$0
Other Revenue
$49,666
All Other Contributions
$115,420
Change in Net Assets
$39,844

Audited Revenue Reconciliation

Revenue per Audited Statements
$552,531
Revenue Not Reported on Form 990
$739,715
Total Revenue per Audited Statements
$1,292,246
Total Revenue per Form 990
$552,531
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$276,244
Other Expenses$236,443
Total Fundraising Expense$34,830
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$140,607$41,587$15,843$198,037
Occupancy$43,825$12,952$4,921$61,698
Current Officers, Directors, Trustees, and Key Employees$35,576$10,523$4,009$50,108
Depreciation Depletion$14,471$14,470-$28,941
Payroll Taxes$19,950$5,901$2,248$28,099
All Other Expenses$15,514$4,588$1,749$21,851
Insurance$14,676$4,340$1,654$20,670
Fees for Services Other$9,622$9,622-$19,244
Office Expenses$8,902$2,633$1,003$12,538
Other Expenses$7,752$1,938$1,293$9,690
Interest$5,331$1,417-$6,748
Travel$2,722$805$307$3,834
Total Functional Expenses$354,672$123,185$34,830$512,687

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,252,402
Expenses Not Reported on Form 990$739,715
Expenses per Audited Statements$512,687
Total Expenses per Form 990$512,687
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll liabilities$6,472
Sales tax payable$3,306
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Board members will review at their meeting

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Available upon request

Filing and Contact Details

Filer

EIN
56-1769105
Phone
7049973770

Signing Officer

Name
Shawn Dorsch
Title
President
Signed
2015-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shawn Dorsch
Formed
1992
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
16
Volunteers
63

Preparer

Preparer
Terry W Lancaster
Phone
7043721515
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

Change in accounting = -$2320604

Financial Statement Notes

Part III, Line 1A: If organization elected under SFAS 116 to not report are, historical treasures, O

The Museums collections consist of aircraft and other artifacts of historical significance that are held for curatorial and educational purposes.Previously, the Museum included the value of exhibits as assets in its statement of financial position. As permitted by generally accepted accounting principles, the Museum adopted a policy during the year to expense exhibits during the year of acquisition. This change in accounting method resulted in a decrease to beginning net assets of $2,320,604. Therefore, aircraft and other exhibits that have been acquired through purchases and contributions since the Museums inception are no longer recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets in the year in which the items were acquired. Contributed collection items are reflected in the accompanying financial statements as contributions and expense in the year of acquisition.

Part X : FIN48 Footnote

The Museum is exempt from Federal income tax under Section 501(c)(3) of the Internal Revenue Code and is not a private foundation as defined by Section 509(a) of the Internal Revenue Code. Generally accepted accounting principles require an organization to recognize a tax benefit or expense from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Museum has no uncertain tax positions as of June 30, 2014.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Cost of goods sold $89633

Part XII, Line 2D: Other expenses and losses per audited F/S

Cost of goods sold $89633

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$27.9$4.26$23.6$4.87$2.89$1.98
2024Detailed filing. Detailed filing data is available for this year.$25.4$3.74$21.6$3.09$2.67$0.42
2023Detailed filing. Detailed filing data is available for this year.$25.3$4.12$21.2$17.5$2.93$14.6
2022Detailed filing. Detailed filing data is available for this year.$6.69$0.06$6.62$5.46$0.76$4.70
2021Detailed filing. Detailed filing data is available for this year.$2.16$0.24$1.92$2.08$0.51$1.57
2020Detailed filing. Detailed filing data is available for this year.$0.50$0.15$0.35$0.38$0.59$0.20
2019Detailed filing. Detailed filing data is available for this year.$0.63$0.08$0.55$1.10$1.13$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.67$0.09$0.59$0.89$0.98$0.09
2017Detailed filing. Detailed filing data is available for this year.$0.74$0.08$0.66$1.12$0.66$0.46
2016Detailed filing. Detailed filing data is available for this year.$0.31$0.11$0.20$0.60$0.60$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.31$0.11$0.20$0.53$0.53$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.32$0.12$0.20$0.55$0.51$0.04
2013Summary only. Only limited summary data is available for this year.$2.62$0.13$2.48$1.73$0.84$0.89
2012Summary only. Only limited summary data is available for this year.$1.68$0.09$1.59$0.94$0.83$0.11
2011Summary only. Only limited summary data is available for this year.$1.59$0.11$1.48$0.97$0.66$0.30