THE KALAMAZOO AVIATION HISTORY MUS… - Form 990 Financial Data

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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

1977

Legal Domicile

Principal Officer

TROY A THRASH

Phone

2693826555

Tax Period

2023-01-01 to 2023-12-31

THE KALAMAZOO AVIATION HISTORY MUSEUM, founded in 1977, is a community nonprofit that reported $6.9M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Net assets of $16.9M represent 29 months of operating reserves.

Mission

IGNITE CURIOSITY, CELEBRATE INNOVATION, AND CONNECT HISOTRY AND SCIENCE THROUGH PAST, PRESENT, AND FUTURE DREAMS OF FLIGHT.

Program Service Accomplishments

Program 1

Expenses: $5,149,324 Revenue: $2,528,035

THE AIR ZOO IS A NATIONALLY ACCLAIMED, SMITHSONIAN-AFFILIATED, AEROSPACE AND SCIENCE MUSEUM BOASTING A RENOWNED COLLECTION OF OVER 100 RARE AND HISTORICALLY SIGNIFICANT AIRCRAFT, AND MORE THAN...

THE AIR ZOO IS A NATIONALLY ACCLAIMED, SMITHSONIAN-AFFILIATED, AEROSPACE AND SCIENCE MUSEUM BOASTING A RENOWNED COLLECTION OF OVER 100 RARE AND HISTORICALLY SIGNIFICANT AIRCRAFT, AND MORE THAN 100,000 UNIQUE ARTIFACTS, DISPLAYS AND EXHIBITS SHOWCASING HISTORY, SCIENCE, AND TECHNOLOGY. THE AIR ZOO STANDS APART FROM SIMILAR MUSEUMS AND LEARNING CENTERS OF ITS KIND, WITH A KEEN FOCUS ON HANDS-ON LEARNING AND ENGAGING EDUCATIONAL PROGRAMS. OUR FACILITIES INCLUDE MULTIPLE CLASSROOMS FOR INTERACTIVE LESSONS, AN UPDATED THEATER, STATE OF THE ART FLIGHT SIMULATORS, AND AN EXCITING INDOOR AMUSEMENT PARK. THE MUSEUM'S GROWING COLLECTION OF PERMANENT EXHIBITS HIGHLIGHT THE DIVERSE CONTRIBUTIONS FROM MEN AND WOMEN OF AEROSPACE HISTORY. THE AIR ZOO IS ALSO A NATIONAL LEADER IN LONG-TERM LOST OR DAMAGED HISTORICAL AIRCRAFT RESTORATION. THROUGH OUR ACTIVE AND INNOVATIVE RESTORATION PROCESS, OUR GUESTS ARE ABLE TO WITNESS AND EVEN PARTICIPATE IN THE REBUILDING OF PLANES LONG DESTROYED OR LOST. WITH OUR STRONG FOCUS ON EDUCATION, THE AIR ZOO IS A UNIQUE RESOURCE FOR ORGANIZATIONS, STUDENTS AND TEACHERS IN OUR COMMUNITY. THROUGH A FOCUSED EDUCATION DEPARTMENT, THE AIR ZOO PROVIDES COUNTLESS EDUCATIONAL PROGRAMS AND CAMPS.

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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 $4,131,044

Program Service Revenue $2,236,964

Investment Income $46,256

Other Revenue $488,497

TOTAL REVENUE $6,902,761

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,163,376

Fundraising Expenses $277,945

Program Expenses $5,149,324

Other Expenses $3,576,545

TOTAL EXPENSES $6,739,921

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,902,761	$5,668,255	+0.2%
Expenses	$6,739,921	$5,897,592	+0.1%
Net Income	$162,840	$-229,337	-1.7%

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

132

Volunteers

150

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

$330,299

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JERRY CULP	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
DONALD R PARFET	VICE-CHAIRPERSON	1.00	Officer Director	$0	$0	$0
JANICE M BROWN	SECRETARY	1.00	Officer Director	$0	$0	$0
CLIFF MULDER	TREASURER	1.00	Officer Director	$0	$0	$0
DAVID J CAMPBELL	TRUSTEE	1.00	Director	$0	$0	$0
RANDALL W EBERTS	TRUSTEE	1.00	Director	$0	$0	$0
JUDY K JOLLIFFE	TRUSTEE	1.00	Director	$0	$0	$0
HEATHER OESTRIKE	TRUSTEE	1.00	Director	$0	$0	$0
PRESTON PARISH	TRUSTEE	1.00	Director	$0	$0	$0
KELLY PARRISH	TRUSTEE	1.00	Director	$0	$0	$0
JAMIE PLEUNE	TRUSTEE	1.00	Director	$0	$0	$0
MARC A SCHUPAN	TRUSTEE	1.00	Director	$0	$0	$0
CLARENCE LLOYD	TRUSTEE	1.00	Director	$0	$0	$0
RITA RAICHOUDHURI	TRUSTEE	1.00	Director	$0	$0	$0
TROY A THRASH	PRESIDENT/CEO	40.00	Officer	$230,944	$18,629	$249,573
DAVID ULLREY	DIRECTOR OF FINANCE	40.00	Officer	$80,726	$0	$80,726

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	$6,902,761	$6,739,921	$18,270,580	$162,840
2022	$5,668,255	$5,897,592	$18,548,506	$-229,337
2021	$5,451,685	$5,079,864	$17,581,493	$371,821
2020	$4,379,956	$4,669,179	$17,058,166	$-289,223
2019	$5,000,936	$5,136,130	$17,409,478	$-135,194
2018	$4,183,564	$5,107,430	$17,503,285	$-923,866

THE KALAMAZOO AVIATION HISTORY MUSEUM