Form 990 for tax year 2023
Filed by INTERNATIONAL AEROBATIC CLUB INC.
Totals
- Total revenue
- $373,452
- Total expenses
- $433,122
- Contributions and grants received
- $65,169
- Grants paid
- $0
- Program service revenue
- $270,180
- Investment income
- $14,390
- Other revenue
- $23,713
- Total assets, end of year
- $542,783
- Total liabilities, end of year
- $242,513
- Net assets or fund balances, end of year
- $300,270
- Program services expenses (Part IX)
- $302,522
- Management and general expenses
- $130,600
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $302,522
Program services were 69.8% 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
$13,935
-
1f · All other contributions, gifts and grants
$51,234
-
1g · Noncash contributions included above
$8,375
-
2a · Program service revenue: MEMBERSHIP DUES
total $205,210 · related or exempt $205,210
-
2b · Program service revenue: REGISTRATION FEES
total $33,240 · related or exempt $33,240
-
2c · Program service revenue: CONTEST SANCTION FEES
total $31,130 · related or exempt $31,130
-
2d · Program service revenue: BANQUET INCOME
total $600 · related or exempt $600
-
3 · Investment income
total $14,390 · excluded $14,390
-
5 · Royalties
total $4,266 · excluded $4,266
-
6a · Gross rents
real property $3,500
-
6b · Less rental expenses
real property $14,675
-
6c · Rental income or loss
real property -$11,175
-
6d · Net rental income or loss
total -$11,175 · related or exempt -$11,175
-
8a · Fundraising events: gross income
$7,175
-
8a · Fundraising events: contributions included on line 1c
$13,935
-
8b · Fundraising events: direct expenses
$8,375
-
8c · Net income from fundraising events
total -$1,200 · excluded -$1,200
-
10a · Gross sales of inventory
$29,763
-
10b · Cost of goods sold
$20,835
-
10c · Net income from sales of inventory
total $8,928 · excluded $8,928
-
11a · Other revenue: ADV. SPORT AEROBATICS
total $22,894 · unrelated business $22,894
-
11e · Other revenue, total
$22,894
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $87,430 · program services $35,260 · management and general $52,170
-
7 · Other salaries and wages
total $42,692 · program services $42,692
-
8 · Pension plan contributions
total $7,133 · program services $4,652 · management and general $2,481
-
10 · Payroll taxes
total $7,886 · program services $5,086 · management and general $2,800
-
11c · Fees: accounting
total $9,770 · management and general $9,770
-
11g · Fees: other
total $74,301 · program services $45,398 · management and general $28,903
-
12 · Advertising and promotion
total $72 · program services $72
-
13 · Office expenses
total $20,657 · program services $18,901 · management and general $1,756
-
14 · Information technology
total $15,180 · management and general $15,180
-
16 · Occupancy
total $1,820 · program services $1,092 · management and general $728
-
17 · Travel
total $20,109 · program services $14,821 · management and general $5,288
-
22 · Depreciation, depletion and amortization
total $3,789 · program services $3,789
-
23 · Insurance
total $14,605 · program services $8,541 · management and general $6,064
-
24a · Other expenses: PUBLICATION PRINTING
total $49,352 · program services $49,352
-
24b · Other expenses: AWARDS
total $22,974 · program services $22,974
-
24c · Other expenses: VOLUNTEER RELATIONS
total $22,959 · program services $21,487 · management and general $1,472
-
24d · Other expenses: PUBLICATION POSTAGE
total $12,442 · program services $12,442
-
24e · All other expenses
total $19,951 · program services $15,963 · management and general $3,988
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $391,519 · end of year $405,033
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $124,015 · end of year $65,765
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $23,055 · end of year $18,033
-
9 · Prepaid expenses and deferred charges
beginning of year $11,446 · end of year $19,073
-
10a · Land, buildings and equipment: cost or other basis
$126,512
-
10b · Land, buildings and equipment: accumulated depreciation
$91,633
-
10c · Land, buildings and equipment, net
beginning of year $38,668 · end of year $34,879
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
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 $10,105 · end of year $7,634
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $218,658 · end of year $234,879
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $333,297 · end of year $265,451
-
28 · Net assets with donor restrictions
beginning of year $26,643 · end of year $34,819
Mission and programs · 2023
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 $169,361 · Revenue $273,680
-
PUBLICATION - SPORT AEROBATICS, A MONTHLY MAGAZINE IS ISSUED TO MEMBERS WITH INFORMATION ON THE ART OF AEROBATIC AVIATION.
Expenses $133,161
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
James BourkeJAMES BOURKE
PRESIDENT
- Total calculated
- $0
- Hours/week
- 10
-
Rob HollandROB HOLLAND
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 10
-
Jordan AshleyJORDAN ASHLEY
TREASURER
- Total calculated
- $0
- Hours/week
- 10
-
Sara ArnoldSARA ARNOLD
SECRETARY
- Total calculated
- $0
- Hours/week
- 10
-
Robert ArmstrongROBERT ARMSTRONG
DIRECTOR - AS OF 07/23
- Total calculated
- $0
- Hours/week
- 10
-
Doug BartlettDOUG BARTLETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Marty FlournoyMARTY FLOURNOY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Mike GallawayMIKE GALLAWAY
DIRECTOR - AS OF 07/23
- Total calculated
- $0
- Hours/week
- 10
-
Craig GiffordCRAIG GIFFORD
DIRECTOR - THRU 11/23
- Total calculated
- $0
- Hours/week
- 10
-
Michael GoulianMICHAEL GOULIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Phillip GraggPHILLIP GRAGG
DIRECTOR - AS OF 07/23
- Total calculated
- $0
- Hours/week
- 10
-
Bob HartBOB HART
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Doug JenkinsDOUG JENKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Dagmar KressDAGMAR KRESS
DIRECTOR - THRU 07/23
- Total calculated
- $0
- Hours/week
- 10
-
Brittanee LincolnBRITTANEE LINCOLN
DIRECTOR - THRU 07/23
- Total calculated
- $0
- Hours/week
- 10
-
David MartinDAVID MARTIN
DIRECTOR - THRU 11/23
- Total calculated
- $0
- Hours/week
- 10
-
John OstmeyerJOHN OSTMEYER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
Greg PrincipatoGREG PRINCIPATO
DIRECTOR - THRU 09/23
- Total calculated
- $0
- Hours/week
- 10
-
Peggy RiedingerPEGGY RIEDINGER
DIRECTOR - THRU 07/23
- Total calculated
- $0
- Hours/week
- 10
-
Nathan RuedyNATHAN RUEDY
DIRECTOR - AS OF 07/23
- Total calculated
- $0
- Hours/week
- 10
-
Amy SpowartAMY SPOWART
DIRECTOR - AS OF 09/23
- Total calculated
- $0
- Hours/week
- 10
-
Stephen KurtzahnSTEPHEN KURTZAHN
EXECUTIVE DIRECTOR - THRU 01/24
- Total calculated
- $84,701
- From this org
- $48,713
- From related orgs
- $0
- Other
- $35,988
- 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
- 2023
- Filed
- 7 January 2025
- IRS schema version
- 2023v6.0
- Source object
- 202500159349300120
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