Civic Intelligence

Memphis Soaring Society

990 • Fiscal year 2021 • EIN 62-1742869

Jan 01, 2021 to Dec 31, 2021 • Filed on May 04, 2022

Organization Profilewww.memphis-soaring.org
2090 Old Oak DriveMemphis, TN 38119

(870) 588-4422

Siviq Scores

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

Liabilities / Assets

67th percentile

0.17x

Higher debt load relative to assets than 67% of similar nonprofits.

2021 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

94th percentile

2.26x

Higher debt load relative to revenue than 94% of similar nonprofits.

2021 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2021

Net Margin

60th percentile

14%

Higher net margin than 60% of similar nonprofits.

2021 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

87th percentile

$0

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2021

Asset Growth

31st percentile

-0.5%

Faster asset growth than 31% of similar nonprofits.

2021 filings • 501(c)7 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

10th percentile

-24%

Faster revenue growth than 10% of similar nonprofits.

2021 filings • 501(c)7 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$827,547

Down $4,159 (-0.5%) from 2020

Net Assets

Up

$683,983

Up $9,038 (+1.3%) from 2020

Liabilities

Down

$143,564

Down $13,197 (-8.4%) from 2020

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin60th percentile

Revenue

Down

$63,557

Down $19,971 (-24%) from 2020

Expenses

Down

$54,519

Down $8,808 (-14%) from 2020

Net Income

Down

$9,038

Down $11,163 (-55%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$1.0M$500K$0Assets 2011: $634,219Liabilities 2011: $197,922Net Assets 2011: $436,2972011Assets 2012: $636,940Liabilities 2012: $190,010Net Assets 2012: $446,9302012Assets 2013: $633,223Liabilities 2013: $170,524Net Assets 2013: $462,6992013Assets 2014: $630,666Liabilities 2014: $153,049Net Assets 2014: $477,6172014Assets 2015: $644,940Liabilities 2015: $139,279Net Assets 2015: $505,6612015Assets 2016: $638,675Liabilities 2016: $22,052Net Assets 2016: $616,6232016Assets 2017: $646,548Liabilities 2017: $20,236Net Assets 2017: $626,3122017Assets 2018: $681,390Liabilities 2018: $41,770Net Assets 2018: $639,6202018Assets 2019: $683,118Liabilities 2019: $28,374Net Assets 2019: $654,7442019Assets 2020: $831,706Liabilities 2020: $156,761Net Assets 2020: $674,9452020Assets 2021: $827,547Liabilities 2021: $143,564Net Assets 2021: $683,9832021Assets 2022: $879,270Liabilities 2022: $193,899Net Assets 2022: $685,3712022Assets 2023: $807,597Liabilities 2023: $140,285Net Assets 2023: $667,3122023Assets 2024: $812,165Liabilities 2024: $135,093Net Assets 2024: $677,0722024

Highlighted filing

2021

Assets$827,547
Liabilities$143,564
Net Assets$683,983
Open 2021 Filing

Operations Trend

Revenue Growth10th percentile

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

$200K$150K$100K$50K$0-$50KRevenue 2011: $51,547Expenses 2011: $40,812Net Income 2011: $10,7352011Revenue 2012: $54,886Expenses 2012: $44,253Net Income 2012: $10,6332012Revenue 2013: $53,342Expenses 2013: $37,573Net Income 2013: $15,7692013Revenue 2014: $58,996Expenses 2014: $44,078Net Income 2014: $14,9182014Revenue 2015: $90,088Expenses 2015: $62,044Net Income 2015: $28,0442015Revenue 2016: $158,875Expenses 2016: $47,913Net Income 2016: $110,9622016Revenue 2017: $60,949Expenses 2017: $51,260Net Income 2017: $9,6892017Revenue 2018: $56,360Expenses 2018: $43,052Net Income 2018: $13,3082018Revenue 2019: $54,836Expenses 2019: $39,516Net Income 2019: $15,3202019Revenue 2020: $83,528Expenses 2020: $63,327Net Income 2020: $20,2012020Revenue 2021: $63,557Expenses 2021: $54,519Net Income 2021: $9,0382021Revenue 2022: $73,508Expenses 2022: $72,120Net Income 2022: $1,3882022Revenue 2023: $101,533Expenses 2023: $119,592Net Income 2023: -$18,0592023Revenue 2024: $85,281Expenses 2024: $75,521Net Income 2024: $9,7602024

Highlighted filing

2021

Revenue$63,557
Expenses$54,519
Net Income$9,038
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 4, 2022
Return Version
2021v4.2
Gross Receipts
$64,257
Mission and Program Overview

Mission

Provide flying privleges to approximately 65 members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$815,562$815,562→ $0
Rtn Earn Endowment Incm Other Fnds$674,945$683,983▲ $9,038
Cash and Non-Interest-Bearing Accounts$7,839$5,064▼ $2,775
Inventories for Sale or Use$2,380$3,552▲ $1,172
Accounts Receivable$4,213$3,369▼ $844
Total Assets$831,706$827,547▼ $4,159
Other Assets Total$1,712--
Liabilities
Unsecured Notes Loans Payable$105,000$97,500▼ $7,500
Mortgage Notes Payable Secured by Investment Property$30,133$24,317▼ $5,816
Other Liabilities$19,755$20,314▲ $559
Escrow Account Liability$1,550$1,433▼ $117
Accounts Payable and Accrued Expenses$323--
Total Liabilities$156,761$143,564▼ $13,197
Net Assets / Fund Balance
Total Net Assets Fund Balance$674,945$683,983▲ $9,038
Total Liabilities and Net Assets / Fund Balance$831,706$827,547▼ $4,159

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$418,569-$418,569
Buildings$222,389-$222,389
Land$174,604-$174,604
Compensation and Service Providers
Top Officer Pay87th percentile

Board Members and Trustees

NameTitle
Brian SmithPresident
Cecil CuppVice President
Gyorgy GulasChief Instructor
L D BlakeChief of Maintenance
Johnny JoynerSecretary
Mark OlingerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$39,840
Program Service Revenue
$19,500
Investment Income
$0
Other Revenue
$4,217
All Other Contributions
$11,092
Change in Net Assets
$9,038
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$54,519
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses---$31,583
Insurance---$19,555
Interest---$1,755
Information Technology---$1,181
Office Expenses---$445
Total Functional Expenses$0$0$0$54,519
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Gift Certificates$15,744
Youth Holdings$3,980
Luebke Memorial$375
Pre-Paid Leases$115
Federal income taxes$100
Pre-paid dues-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Memphis Soaring Society
EIN
62-1742869
In Care Of
% Mark Olinger
Phone
8705884422
Address
2090 Old Oak Drive, Memphis, TN 38119

Signing Officer

Name
Mark Olinger
Title
Treasurer
Phone
8705884422
Signed
2022-05-04
Discuss with paid preparer
No

Organization Details

Principal Officer
Mark Olinger
Formed
1947
Legal Domicile
Tn
Voting Board Members
11
Independent Board Members
0
Employees
0
Volunteers
50
Supplemental Narrative

Additional Explanations

Form 990, Part I, Section 1, Line 1

“None”

Form 990, Part IV, Line 21

“Escrow is for SSA renewal of our members”

Raw XML Appendix340 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.

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IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0105000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt097500
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02090 Old Oak Drive
IRS990/USAddress/CityNm0Memphis
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038119
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0www.memphis-soaring.org
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Mark Olinger
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum08705884422
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Memphis Soaring Society
ReturnHeader/Filer/BusinessNameControlTxt0MEMP
ReturnHeader/Filer/EIN0621742869
ReturnHeader/Filer/InCareOfNm0% Mark Olinger
ReturnHeader/Filer/PhoneNum08705884422
ReturnHeader/Filer/USAddress/AddressLine1Txt02090 Old Oak Drive
ReturnHeader/Filer/USAddress/CityNm0Memphis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038119
ReturnHeader/ReturnTs02022-05-09T07:38:10-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Mark
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Olinger
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$827,547
Liabilities
$143,564
Net assets
$683,983
Revenue
$63,557
Expenses
$54,519
Net income
$9,038
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.12$1.35$6.77$0.85$0.76$0.10
2023Detailed filing. Detailed filing data is available for this year.$8.08$1.40$6.67$1.02$1.20$0.18
2022Detailed filing. Detailed filing data is available for this year.$8.79$1.94$6.85$0.74$0.72$0.01
2021Detailed filing. Detailed filing data is available for this year.$8.28$1.44$6.84$0.64$0.55$0.09
2020Detailed filing. Detailed filing data is available for this year.$8.32$1.57$6.75$0.84$0.63$0.20
2019Summary only. Only limited summary data is available for this year.$6.83$0.28$6.55$0.55$0.40$0.15
2018Summary only. Only limited summary data is available for this year.$6.81$0.42$6.40$0.56$0.43$0.13
2017Summary only. Only limited summary data is available for this year.$6.47$0.20$6.26$0.61$0.51$0.10
2016Summary only. Only limited summary data is available for this year.$6.39$0.22$6.17$1.59$0.48$1.11
2015Summary only. Only limited summary data is available for this year.$6.45$1.39$5.06$0.90$0.62$0.28
2014Summary only. Only limited summary data is available for this year.$6.31$1.53$4.78$0.59$0.44$0.15
2013Summary only. Only limited summary data is available for this year.$6.33$1.71$4.63$0.53$0.38$0.16
2012Summary only. Only limited summary data is available for this year.$6.37$1.90$4.47$0.55$0.44$0.11
2011Summary only. Only limited summary data is available for this year.$6.34$1.98$4.36$0.52$0.41$0.11