Civic Intelligence

Cavanaugh Flight Museum

990 • Fiscal year 2023 • EIN 75-3088417

Jan 01, 2023 to Dec 31, 2023 • Filed on Mar 15, 2024

Organization Profilewww.cavanaughflightmuseum.com

View Organization Page

4572 Claire Chennault DrAddison, TX 75001

(972) 380-8800

Siviq Scores

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

Liabilities / Assets

51st percentile

0.07x

Higher debt load relative to assets than 51% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

60th percentile

0.15x

Higher debt load relative to revenue than 60% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

74th percentile

19%

Higher net margin than 74% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

31st percentile

-1.7%

Faster asset growth than 31% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

96th percentile

218%

Faster revenue growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets51st percentile

Assets

Flat

$2,163,496

Flat from 2023

Net Assets

Flat

$2,010,504

Flat from 2023

Liabilities

Flat

$152,992

Flat from 2023

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin74th percentile

Revenue

Flat

$1,027,335

Flat from 2023

Expenses

Flat

$828,115

Flat from 2023

Net Income

Flat

$199,220

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $4,029,234Liabilities 2010: $221,940Net Assets 2010: $3,807,2942010Assets 2011: $4,147,430Liabilities 2011: $260,799Net Assets 2011: $3,886,6312011Assets 2012: $4,417,562Liabilities 2012: $209,964Net Assets 2012: $4,207,5982012Assets 2013: $4,456,235Liabilities 2013: $243,843Net Assets 2013: $4,212,3922013Assets 2014: $3,792,308Liabilities 2014: $576,373Net Assets 2014: $3,215,9352014Assets 2015: $3,611,880Liabilities 2015: $399,017Net Assets 2015: $3,212,8632015Assets 2016: $3,622,284Liabilities 2016: $367,426Net Assets 2016: $3,254,8582016Assets 2017: $3,725,434Liabilities 2017: $152,176Net Assets 2017: $3,573,2582017Assets 2018: $3,569,244Liabilities 2018: $55,086Net Assets 2018: $3,514,1582018Assets 2019: $3,564,397Liabilities 2019: $51,821Net Assets 2019: $3,512,5762019Assets 2020: $3,575,746Liabilities 2020: $189,099Net Assets 2020: $3,386,6472020Assets 2021: $2,944,970Liabilities 2021: $373,065Net Assets 2021: $2,571,9052021Assets 2022: $2,200,454Liabilities 2022: $389,170Net Assets 2022: $1,811,2842022Assets 2023: $2,163,496Liabilities 2023: $152,992Net Assets 2023: $2,010,5042023Assets 2023: $2,163,496Liabilities 2023: $152,992Net Assets 2023: $2,010,5042023Assets 2024: $2,226,316Liabilities 2024: $175,835Net Assets 2024: $2,050,4812024

Highlighted filing

2023

Assets$2,163,496
Liabilities$152,992
Net Assets$2,010,504
Open 2023 Filing

Operations Trend

Revenue Growth96th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,648,9722010Expenses 2011: $1,646,1092011Expenses 2012: $1,832,3072012Revenue 2013: $2,028,158Expenses 2013: $2,023,364Net Income 2013: $4,7942013Revenue 2014: $868,585Expenses 2014: $1,808,586Net Income 2014: -$940,0012014Revenue 2015: $1,934,973Expenses 2015: $1,938,045Net Income 2015: -$3,0722015Revenue 2016: $1,936,903Expenses 2016: $1,894,908Net Income 2016: $41,9952016Revenue 2017: $2,259,754Expenses 2017: $2,315,224Net Income 2017: -$55,4702017Revenue 2018: $2,020,754Expenses 2018: $2,082,616Net Income 2018: -$61,8622018Revenue 2019: $2,060,929Expenses 2019: $2,038,400Net Income 2019: $22,5292019Revenue 2020: $730,645Expenses 2020: $870,690Net Income 2020: -$140,0452020Revenue 2021: -$123,262Expenses 2021: $691,480Net Income 2021: -$814,7422021Revenue 2022: $323,552Expenses 2022: $1,020,388Net Income 2022: -$696,8362022Revenue 2023: $1,027,335Expenses 2023: $828,115Net Income 2023: $199,2202023Revenue 2023: $1,027,335Expenses 2023: $828,115Net Income 2023: $199,2202023Revenue 2024: $1,163,735Expenses 2024: $1,123,758Net Income 2024: $39,9772024

Highlighted filing

2023

Revenue$1,027,335
Expenses$828,115
Net Income$199,220
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Mar 15, 2024
Return Version
2023v5.1
Gross Receipts
$1,035,272
Mission and Program Overview

Mission

Educational Organization devoted to promoting aviation studies and perpetuating Americas aviation heritage.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,139,787$2,139,787→ $0
Cash and Non-Interest-Bearing Accounts$94,889$17,048▼ $77,841
Accounts Receivable$13,024--
Other Notes and Loans Receivable, Net-$500-
Prepaid Expenses and Deferred Charges-$240-
Inventories for Sale or Use$150--
Total Assets$2,200,454$2,163,496▼ $36,958
Other Assets Total$-47,396$5,921▲ $53,317
Liabilities
Accounts Payable and Accrued Expenses$389,170$152,992▼ $236,178
Total Liabilities$389,170$152,992▼ $236,178
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,811,284$2,010,504▲ $199,220
Total Net Assets Fund Balance$1,811,284$2,010,504▲ $199,220
Total Liabilities and Net Assets / Fund Balance$2,200,454$2,163,496▼ $36,958

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,084,933$661,068$2,746,001
Leasehold Improvements$54,854$2,924$57,778
Other Assets Org$5,921--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
James A Cavanaugh JrPresident
Perry SmithDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$596,736
Program Service Revenue
$99,763
Investment Income
$0
Other Revenue
$330,836
All Other Contributions
$596,651
Change in Net Assets
$199,220
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$546,274
Salaries, Compensation, and Employee Benefits$259,254
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$237,804--$237,804
Fees for Services Other$205,120--$205,120
All Other Expenses$109,316--$109,316
Office Expenses$92,906--$92,906
Travel$26,949--$26,949
Other Expenses$25,494--$25,494
Benefits to Members$22,587--$22,587
Payroll Taxes$21,450--$21,450
Fees for Services Accounting$18,385--$18,385
Interest$7,489--$7,489
Insurance$7,423--$7,423
Fees for Services Legal$4,433--$4,433
Occupancy$4,211--$4,211
Advertising$1,397--$1,397
Total Functional Expenses$828,115$0$0$828,115
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Form 990 is distributed to the Board of Directors pior to filing the tax return, and the Directors have the opportunity to review and comment on the return at a board meeting. The comments are considered before the return is filed.”

Conflict of interest policy compliance Part VI line 12C

“The governing Board of Directors reviews the Conflict of Interest Policy annually to monitor that it is being followed according to those Policies intentions.”

Governing documents etc available to public Part VI line 19

“The organization makes its Form 1023, 990, 990-T, governing documents, Conflict of Interest Policy and financial statements available to the public upon request Monday thru Friday during normal operating hours.”

Filing and Contact Details

Filer

Filer Name
Cavanaugh Flight Museum
EIN
75-3088417
Address
4572 Claire Chennault Dr, Addison, TX 75001

Signing Officer

Name
Perry Smith
Title
Director
Phone
9723808800
Signed
2024-03-15
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
TX
Voting Board Members
4
Independent Board Members
3
Employees
9

Preparer

Firm
VCruz CPA PC
Address
3712 Old Denton Rd Suite 112, Carrollton, TX 75007
Preparer
Veronica Cruz-Miranda
Phone
9726817295
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“ERTC Proceeds - 57,464.76Insurnace Proceeds - 86,643.00Other Income - 6,578.20”

List of other fees for services expenses Part IX line 11G

“Other expenses”

List of other expenses Part IX line 24E

“Aircraft expenses”

General explanation attachment

“Form 990, Part I, Line 1, Description of Organization Mission:The museum fulfills its mission by restoring, operating, maintaining and displaying historically-significant vintage aircraft, and by collecting materials related to the history of aviation.”

Raw XML Appendix382 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is distributed to the Board of Directors pior to filing the tax return, and the Directors have the opportunity to review and comment on the return at a board meeting. The comments are considered before the return is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The governing Board of Directors reviews the Conflict of Interest Policy annually to monitor that it is being followed according to those Policies intentions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization makes its Form 1023, 990, 990-T, governing documents, Conflict of Interest Policy and financial statements available to the public upon request Monday thru Friday during normal operating hours.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ERTC Proceeds - 57,464.76Insurnace Proceeds - 86,643.00Other Income - 6,578.20
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Other expenses
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Aircraft expenses
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Form 990, Part I, Line 1, Description of Organization Mission:The museum fulfills its mission by restoring, operating, maintaining and displaying historically-significant vintage aircraft, and by collecting materials related to the history of aviation.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6General explanation attachment
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IRS990/WebsiteAddressTxt0www.cavanaughflightmuseum.com
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Perry Smith
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/PhoneNum09723808800
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-03-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Cavanaugh Flight Museum
ReturnHeader/Filer/BusinessNameControlTxt0CAVA
ReturnHeader/Filer/EIN0753088417
ReturnHeader/Filer/USAddress/AddressLine1Txt04572 Claire Chennault Dr
ReturnHeader/Filer/USAddress/CityNm0Addison
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075001
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0831165188
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VCruz CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03712 Old Denton Rd Suite 112
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Carrollton
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075007
ReturnHeader/PreparerPersonGrp/PhoneNum09726817295
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Veronica Cruz-Miranda
ReturnHeader/ReturnTs02024-11-24T10:54:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,163,496
Liabilities
$152,992
Net assets
$2,010,504
Revenue
$1,027,335
Expenses
$828,115
Net income
$199,220
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.23$0.18$2.05$1.16$1.12$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.16$0.15$2.01$1.03$0.83$0.20
2023Summary only. Only limited summary data is available for this year.$2.16$0.15$2.01$1.03$0.83$0.20
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.20$0.39$1.81$0.32$1.02$0.70
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.94$0.37$2.57$0.12$0.69$0.81
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.58$0.19$3.39$0.73$0.87$0.14
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.56$0.05$3.51$2.06$2.04$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.57$0.06$3.51$2.02$2.08$0.06
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.73$0.15$3.57$2.26$2.32$0.06
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.62$0.37$3.25$1.94$1.89$0.04
2015Detailed filing. Detailed filing data is available for this year.$3.61$0.40$3.21$1.93$1.94$0.00
2014Detailed filing. Detailed filing data is available for this year.$3.79$0.58$3.22$0.87$1.81$0.94
2013Summary only. Only limited summary data is available for this year.$4.46$0.24$4.21$2.03$2.02$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.42$0.21$4.21$1.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.15$0.26$3.89$1.65
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.03$0.22$3.81$1.65