Air Power Museum Inc

Analysis

Air Power Museum Inc is a registered charity in United States, based in Ottumwa, IA. It received its IRS tax-exemption ruling in December 1965, 61 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 publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Air Power Museum Inc reported income of $98k and spending of $95k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $125k to $98k (-22%), an average of -6.0% a year. The sharpest change came in the year to December 2021, when income rose by 80%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Air Power Museum Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 35th percentile within IA. Charities of a similar size with the same main cause include Wisconsin State Firefighters Memorial Inc ($98k), African American Heritage Center of Delaware Inc ($98k) and Alex Haley Museum Association ($98k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% of the total. At year end it held assets of $2.8m against liabilities of $0, net assets of $2.8m.