Planes of Fame Air Museum

Analysis

Planes of Fame Air Museum is a registered charity in United States, based in Chino, CA. It received its IRS tax-exemption ruling in October 1960, 66 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, Planes of Fame Air Museum reported income of $6.7m and spending of $2.5m, leaving 62% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.4m to $6.7m (+183%), an average of +30% a year. The sharpest change came in the year to December 2021, when income rose by 357%. Over the whole period it spent 66% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Planes of Fame Air Museum 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 93rd percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Lyric Opera of Kansas City Inc ($6.7m), Ballet Hispanico of New York ($6.7m) and American Swedish Institute ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 14% of the total. Other salaries and wages came to $541k. At year end it held assets of $24.1m against liabilities of $125k, net assets of $24.0m. It reported 13 employees.