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Nonprofiteer
← INTERNATIONAL AEROBATIC CLUB INC

Form 990 for tax year 2024

Filed by INTERNATIONAL AEROBATIC CLUB INC.

Totals

Total revenue
$402,066
Total expenses
$435,696
Contributions and grants received
$79,350
Grants paid
$0
Program service revenue
$283,453
Investment income
$19,090
Other revenue
$20,173
Total assets, end of year
$516,925
Total liabilities, end of year
$250,285
Net assets or fund balances, end of year
$266,640
Program services expenses (Part IX)
$328,945
Management and general expenses
$106,751
Fundraising expenses
$0
Program service expenses (Part III)
$328,945

Program services were 75.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $10,960

  • 1f · All other contributions, gifts and grants

    $68,390

  • 1g · Noncash contributions included above

    $7,825

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $211,053 · related or exempt $211,053

  • 2b · Program service revenue: REGISTRATION FEES

    total $38,150 · related or exempt $38,150

  • 2c · Program service revenue: CONTEST SANCTION FEES

    total $33,450 · related or exempt $33,450

  • 2d · Program service revenue: BANQUET INCOME

    total $800 · related or exempt $800

  • 3 · Investment income

    total $19,090 · excluded $19,090

  • 5 · Royalties

    total $238 · excluded $238

  • 6a · Gross rents

    real property $5,000

  • 6b · Less rental expenses

    real property $17,815

  • 6c · Rental income or loss

    real property -$12,815

  • 6d · Net rental income or loss

    total -$12,815 · related or exempt -$12,815

  • 8a · Fundraising events: gross income

    $7,040

  • 8a · Fundraising events: contributions included on line 1c

    $10,960

  • 8b · Fundraising events: direct expenses

    $7,825

  • 8c · Net income from fundraising events

    total -$785 · excluded -$785

  • 10a · Gross sales of inventory

    $27,794

  • 10b · Cost of goods sold

    $13,103

  • 10c · Net income from sales of inventory

    total $14,691 · excluded $14,691

  • 11a · Other revenue: ADV. SPORT AEROBATICS

    total $18,844 · unrelated business $18,844

  • 11e · Other revenue, total

    $18,844

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $77,651 · program services $31,330 · management and general $46,321

  • 7 · Other salaries and wages

    total $47,878 · program services $47,878

  • 8 · Pension plan contributions

    total $5,379 · program services $3,998 · management and general $1,381

  • 10 · Payroll taxes

    total $8,418 · program services $5,538 · management and general $2,880

  • 11c · Fees: accounting

    total $8,424 · management and general $8,424

  • 11g · Fees: other

    total $113,835 · program services $83,870 · management and general $29,965

  • 13 · Office expenses

    total $19,874 · program services $19,381 · management and general $493

  • 14 · Information technology

    total $3,150 · management and general $3,150

  • 16 · Occupancy

    total $1,977 · program services $1,186 · management and general $791

  • 17 · Travel

    total $21,220 · program services $16,553 · management and general $4,667

  • 22 · Depreciation, depletion and amortization

    total $3,648 · program services $3,648

  • 23 · Insurance

    total $17,333 · program services $10,164 · management and general $7,169

  • 24a · Other expenses: PUBLICATION PRINTING

    total $47,320 · program services $47,320

  • 24b · Other expenses: AWARDS

    total $19,944 · program services $19,944

  • 24c · Other expenses: PUBLICATION POSTAGE

    total $13,417 · program services $13,417

  • 24d · Other expenses: VOLUNTEER RELATIONS

    total $10,712 · program services $9,202 · management and general $1,510

  • 24e · All other expenses

    total $15,516 · program services $15,516

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $405,033 · end of year $424,124

  • 4 · Accounts receivable

    beginning of year $65,765 · end of year $23,078

  • 8 · Inventories for sale or use

    beginning of year $18,033 · end of year $15,037

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,073 · end of year $23,455

  • 10a · Land, buildings and equipment: cost or other basis

    $126,512

  • 10b · Land, buildings and equipment: accumulated depreciation

    $95,281

  • 10c · Land, buildings and equipment, net

    beginning of year $34,879 · end of year $31,231

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,634 · end of year $13,269

  • 19 · Deferred revenue

    beginning of year $234,879 · end of year $237,016

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $265,451 · end of year $220,433

  • 28 · Net assets with donor restrictions

    beginning of year $34,819 · end of year $46,207

Mission and programs · 2024

Mission

TO ENCOURAGE, AID AND ENGAGE IN RESEARCH, INCLUDING THAT OF A SCIENTIFIC NATURE, AND IN EDUCATION FOR THE IMPROVEMENT OF AVIATION SAFETY THROUGH A BETTER UNDERSTANDING OF THE ART OF AEROBATICS AND TO PROMOTE AND ENCOURAGE AEROBATICS EDUCATION AND (SEE SCHEDULE O) COMPETITION ON A NATIONAL AND INTERNATIONAL LEVEL.

Activities or mission (Part I)

THE CORE PURPOSE OF THE IAC IS TO PROMOTE AND ENHANCE THE SAFETY AND ENJOYMENT OF SPORT AEROBATICS.

  • MEMBERSHIP SERVICES - COSTS ASSOCIATED WITH THE FOLLOWING:CONTESTS WHERE THOSE INTERESTED CAN COMPETE IN AEROBATIC EVENTS OBSERVED BY THE GENERAL PUBLIC, PROMOTION OF MEMBERSHIP IN THE ORGANIZATION AND DISTRIBUTION OF VARIOUS AWARDS AND TROPHIES.

    Expenses $162,036 · Revenue $288,453

  • PUBLICATION - SPORT AEROBATICS, A MONTHLY MAGAZINE IS ISSUED TO MEMBERS WITH INFORMATION ON THE ART OF AEROBATIC AVIATION.

    Expenses $166,909

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • James Bourke

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Rob Holland

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Jordan Ashley

    TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Sara Arnold

    SECRETARY

    Total calculated
    $0
    Hours/week
    10

  • Robert Armstrong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Doug Bartlett

    DIRECTOR - THRU 01/25

    Total calculated
    $0
    Hours/week
    10

  • Marty Flournoy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Mike Gallaway

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Michael Goulian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Phillip Gragg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Bob Hart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Doug Jenkins

    DIRECTOR - THRU 07/24

    Total calculated
    $0
    Hours/week
    10

  • John Ostmeyer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Nathan Ruedy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Amy Spowart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Shad Coulson

    DIRECTOR - AS OF 07/24

    Total calculated
    $0
    Hours/week
    10

  • Tim Dahnke

    EXECUTIVE DIRECTOR - AS OF 03/24

    Total calculated
    $59,119
    From this org
    $55,388
    From related orgs
    $0
    Other
    $3,731
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
5 December 2025
IRS schema version
2024v5.2
Source object
202523399349300702

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