Michigan Aerospace Foundation Inc

Analysis

Michigan Aerospace Foundation Inc is a registered charity in United States, based in Belleville, MI. It received its IRS tax-exemption ruling in November 2001, 25 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Michigan Aerospace Foundation Inc reported income of $58k and spending of $52k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $58k (-96%), an average of -56% a year. The sharpest change came in the year to December 2020, when income dropped by 72%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Michigan Aerospace Foundation Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 22nd percentile within MI. Charities of a similar size with the same main cause include Childrens Art Preservation Association ($58k), Old Schoolhouse Players ($58k) and Dancers at Heart ($58k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% of the total. At year end it held assets of $359k against liabilities of $658, net assets of $358k.