1941 Historical Aircraft Group

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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

1994

Legal Domicile

Principal Officer

W Austin Wadsworth

Phone

5852432100

Tax Period

2023-01-01 to 2023-12-31

1941 Historical Aircraft Group, founded in 1994, is a small nonprofit in the Arts, Culture & Humanities sector that reported $350K in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Expenses of $419K exceeded revenue, resulting in a 20% operating deficit.

Mission

Organizing and funding airshow activities involved in having aircraft on display to educate the general public on military and civil aircraft history.

Program Service Accomplishments

Program 1

Expenses: $312,295 Revenue: $222,095

The 1941 Historical Aircraft Group Museum is dedicated to the restoration, preservation, display, and flight of aircraft of the World War II and Korean War eras, as well as the recognition of all...

The 1941 Historical Aircraft Group Museum is dedicated to the restoration, preservation, display, and flight of aircraft of the World War II and Korean War eras, as well as the recognition of all United States Military personnel for their service and sacrifice.

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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 (2023)

Revenue Breakdown

Contributions & Grants $79,309

Program Service Revenue $214,549

Investment Income $1,977

Other Revenue $53,916

TOTAL REVENUE $349,751

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,064

Fundraising Expenses $15,400

Program Expenses $312,295

Other Expenses $405,781

TOTAL EXPENSES $418,845

Year-over-Year Comparison

	2023	2022	Change
Revenue	$349,751	$417,255	-0.2%
Expenses	$418,845	$292,541	+0.4%
Net Income	$-69,094	$124,714	-1.6%

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
Martha Wadsworth	Director	5.00	Director	$0	$0	$0
James McGurn	Director	5.00	Director	$0	$0	$0
Grainger Haugh	Board Member	5.00	Director	$0	$0	$0
W Austin Wadsworth	President	10.00	Officer	$0	$0	$0
Donald Wilson	Treasurer/Secretary	5.00	Officer	$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
2024	No data	No data	No data	No data
2023	$349,751	$418,845	$685,669	$-69,094
2022	$417,255	$292,541	$801,543	$124,714
2021	$337,877	$261,748	$778,076	$76,129
2020	$167,042	$197,737	$721,325	$-30,695
2019	$613,576	$620,738	$784,122	$-7,162
2018	$577,964	$554,628	$647,900	$23,336