Arizona Aerospace Foundation Inc

Analysis

Arizona Aerospace Foundation Inc is a registered charity in United States, based in Tucson, AZ. It received its IRS tax-exemption ruling in November 1967, 59 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 October 2023, Arizona Aerospace Foundation Inc reported income of $13.1m and spending of $9.0m, leaving 32% of income unspent that year. Across the 5 years on record, from October 2019 to October 2023, income grew from $8.0m to $13.1m (+65%), an average of +13% a year. The sharpest change came in the year to October 2022, when income rose by 107%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arizona Aerospace Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within AZ. Charities of a similar size with the same main cause include Molina Family Foundation ($13.1m), The Epoch Times Media Group Los Angeles ($13.2m) and American Friends of the Israel Museum ($13.1m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 54% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $330k (3.7% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $23.6m against liabilities of $289k, net assets of $23.3m. It reported 95 employees.