AVIATION MUSEUM OF KENTUCKY INC

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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

1981

Legal Domicile

Principal Officer

EDWARD B MURPHY

Phone

8592311219

Tax Period

2023-01-01 to 2023-12-31

AVIATION MUSEUM OF KENTUCKY INC, founded in 1981, is a small nonprofit in the Arts, Culture & Humanities sector that reported $720K in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. The organization ran a surplus of $409K, a strong 57% operating margin.

Mission

EDUCATING YOUNG PEOPLE ABOUT AVIATION'S CAREER POTENTIAL. EXHIBITS ATTRACT APPROXIMATELY 10,000 STUDENTS TO LEXINGTON'S BLUE GRASS AIRPORT EACH YEAR. VISITORS LEARN ABOUT THE SCIENCE OF FLIGHT, AND ABOUT ITS HISTORY. THEY LEARN HOW KENTUCKY HAS HELPED SHAPE THE FIELD THAT HAS SO SHAPED THE WORLD.

Program Service Accomplishments

Program 1

Expenses: $212,312 Revenue: $219,837

THE ORGANIZATION SEEKS TO PRESERVE AND SAFEGUARD HISTORIC AVIATION MATERIALS AND TO PROMOTE EDUCATION IN AVIATION HISTORY.

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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 $58,985

Program Service Revenue $219,837

Investment Income $423,037

Other Revenue $18,036

TOTAL REVENUE $719,895

Expense Breakdown

Grants Paid $0

Salaries & Benefits $59,595

Fundraising Expenses $44,494

Program Expenses $212,312

Other Expenses $251,754

TOTAL EXPENSES $311,349

Year-over-Year Comparison

	2023	2022	Change
Revenue	$719,895	$513,784	+0.4%
Expenses	$311,349	$282,715	+0.1%
Net Income	$408,546	$231,069	+0.8%

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

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
JIM MCCORMICK	CHAIR AND TRUSTEE	1.00	Officer Director	$0	$0	$0
ED MURPHY	TREASURER AND TRUSTEE	1.00	Officer Director	$0	$0	$0
GARY CAMPBELL	TRUSTEE	0.50	Director	$0	$0	$0
JERRY LANDRETH	TRUSTEE	0.50	Director	$0	$0	$0
GARY LOWE	TRUSTEE	0.50	Director	$0	$0	$0
MIKE MALONE	TRUSTEE	0.50	Director	$0	$0	$0
BETTY MURPHY	TRUSTEE	0.50	Director	$0	$0	$0
MARGIE RIGGS	TRUSTEE	0.50	Director	$0	$0	$0
ROBERT RIGGS	TRUSTEE	0.50	Director	$0	$0	$0
ROGER STORCH	TRUSTEE	0.50	Director	$0	$0	$0
DOUG STEELE	TRUSTEE	0.50	Director	$0	$0	$0
DEMETRIA BLAIR	TRUSTEE	0.50	Director	$0	$0	$0
STEWART DITTO	TRUSTEE	0.50	Director	$0	$0	$0
BOB JONES	TRUSTEE	0.50	Director	$0	$0	$0
SHERRY LEMASTER	TRUSTEE	0.50	Director	$0	$0	$0
RONALD MCBRIDE	TRUSTEE	0.50	Director	$0	$0	$0
EDWARD ROBIE	TRUSTEE	0.50	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
2024	No data	No data	No data	No data
2023	$719,895	$311,349	$3,364,604	$408,546
2022	$513,784	$282,715	$3,167,529	$231,069
2021	$325,196	$221,455	$3,284,433	$103,741
2020	$141,018	$135,998	$2,793,590	$5,020
2019	$266,529	$219,678	$2,636,814	$46,851
2018	$353,758	$170,464	$2,383,374	$183,294