Fargo Air Museum

Analysis

Fargo Air Museum is a registered charity in United States, based in Fargo, ND. It received its IRS tax-exemption ruling in February 1999, 27 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Fargo Air Museum reported income of $833k and spending of $925k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $792k to $833k (+5.1%), an average of +1.3% a year. The sharpest change came in the year to December 2021, when income rose by 33%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fargo Air Museum sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within ND. Charities of a similar size with the same main cause include Syracuse Children Theatre Inc ($833k), Theatre Raleigh Inc ($833k) and NSB Inc ($833k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $72k (7.8% of expenses). At year end it held assets of $3.3m against liabilities of $361k, net assets of $3.0m. It reported 22 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.