NIAGARA AEROSPACE MUSEUM

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

DON ERWIN

Phone

7162971324

Tax Period

2024-01-01 to 2024-12-31

NIAGARA AEROSPACE MUSEUM, founded in 1998, is a small nonprofit that reported $376K in total revenue in fiscal year 2024. Revenue surged 248% from the prior year, signaling strong growth momentum. The organization ran a surplus of $120K, a strong 32% operating margin.

Mission

TO PRESERVE THE MEMORY AND SPIRIT OF WESTERN NEW YORK AEROSPACE WORKERS AND PIONEERS BY SAFEKEEPING THE ARTIFACTS OF THEIR HERITAGE. THE ARTIFACTS ARE DISPLAYED IN A MANNER WHICH INSTRUCTS, EDUCATES, AND ENTERTAINS THE GENERAL PUBLIC, AND ENCOURAGES INTEREST IN AVIATION AND SPACE FLIGHT IN GENERAL.

Program Service Accomplishments

Program 1

Expenses: $228,875 Revenue: $42,101

DURING 2024 THE MUSEUM WELCOMED OVER 3,462 VISITORS TO ITS RECENTLY RENOVATED EXHIBITION SPACE. THE MUSEUM IS HOME TO AN IRREPLACABLE COLLECTION OF OVER 100 YEARS OF AVIATION AND AEROSPACE HISTORY...

DURING 2024 THE MUSEUM WELCOMED OVER 3,462 VISITORS TO ITS RECENTLY RENOVATED EXHIBITION SPACE. THE MUSEUM IS HOME TO AN IRREPLACABLE COLLECTION OF OVER 100 YEARS OF AVIATION AND AEROSPACE HISTORY STARTING WITH THE WRIGHT BROTHERS. THIS COMMUNITY DISPLAY IS NOT ONLY DESIGNED TO PRESERVE AND PROTECT THE HISTORIC ARTIFACTS BUT TO EDUCATE PRESENT AND FUTURE GENERATIONS OF THE IMPACT AVIATION HAS ON OUR LIVES. KNOWLEDGEABLE DOCENTS PROVIDE PERSONALLY GUIDED TOURS TO GUESTS AND THE MUSEUM REGULARLY HOSTS FIELD TRIPS FOR SCIENCE, MATH AND ENGINEERING CLASSES AS WELL AS VETERANS AND RESIDENTS OF RETIREMENT COMMUNITIES. THE MUSEUM HAS PARTNERED WITH THE BUFFALO PUBLIC SCHOOLS IN THEIR STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATH) PROGRAM TO PROVIDE A VENUE FOR HANDS ON LEARNING.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $327,635

Program Service Revenue $26,905

Investment Income $0

Other Revenue $21,751

TOTAL REVENUE $376,291

Expense Breakdown

Grants Paid $0

Salaries & Benefits $108,839

Fundraising Expenses $0

Program Expenses $228,875

Other Expenses $147,123

TOTAL EXPENSES $255,962

Year-over-Year Comparison

	2024	2023	Change
Revenue	$376,291	$108,199	+2.5%
Expenses	$255,962	$156,142	+0.6%
Net Income	$120,329	$-47,943	-3.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONALD F ERWIN	PRESIDENT	10.00	Officer Director	$0	$0	$0
ALLISON O'CONNOR	VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
TREK FULATER	TRUSTEE	2.00	Director	$0	$0	$0
LOUIS KNOTTS	TRUSTEE	2.00	Director	$0	$0	$0
TIM BALKIN	TRUSTEE	2.00	Director	$0	$0	$0
KATHRYN NOWICKI	TRUSTEE	2.00	Director	$0	$0	$0
ERIC COOMBS	TREASURER	10.00	Officer Director	$0	$0	$0
JAMES VAN OSS	TRUSTEE	8.00	Director	$0	$0	$0
KATIE CLOUGH	SECRETARY	10.00	Officer Director	$0	$0	$0
MARK LAURRIE	TRUSTEE	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$376,291	$255,962	$239,090	$120,329
2023	$108,199	$156,142	$118,761	$-47,943
2022	$106,739	$146,973	$166,704	$-40,234
2021	$246,448	$156,511	$206,938	$89,937
2020	$138,504	$178,415	$117,001	$-39,911
2019	$213,928	$159,655	$156,913	$54,273
2018	$172,139	$151,423	$102,640	$20,716