Ohio Aerospace Institute

Analysis

Ohio Aerospace Institute is a registered charity in United States, based in Brookpark, OH. It received its IRS tax-exemption ruling in June 1990, 36 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ohio Aerospace Institute reported income of $8.3m and spending of $9.2m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $14.2m to $8.3m (-41%), an average of -12% a year. The sharpest change came in the year to June 2021, when income dropped by 28%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ohio Aerospace Institute sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include The Columbus Museum Inc ($8.3m), Alabama Educational Television Foundation Authority ($8.3m) and Pretend City the Childrens Museum of Orange County ($8.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 3.1% of the total. Compensation of current officers, directors and key employees was $382k (4.1% of expenses). Other salaries and wages came to $4.0m. At year end it held assets of $8.9m against liabilities of $2.8m, net assets of $6.2m. It reported 46 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.