FARGO AIR MUSEUM (EIN 450451637) - Form 990 Financial Analysis & Trantor Score

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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

Tax Period

2024-01-01 to 2024-12-31

FARGO AIR MUSEUM, founded in 1998, is a small nonprofit in the Arts, Culture & Humanities sector that reported $949K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $877K left a modest 8% surplus.

Mission

EDUCATE PUBLIC ABOUT AVIATION

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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 $638,965

Program Service Revenue $138,505

Investment Income $15,858

Other Revenue $155,976

TOTAL REVENUE $949,304

Expense Breakdown

Grants Paid $0

Salaries & Benefits $347,930

Fundraising Expenses $0

Other Expenses $529,469

TOTAL EXPENSES $877,399

Year-over-Year Comparison

	2024	2023	Change
Revenue	$949,304	$833,241	+0.1%
Expenses	$877,399	$925,156	-0.1%
Net Income	$71,905	$-91,915	-1.8%

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
RON SOLBERG	DIRECTOR	N/A	Director	$0	$0	$0
KELLY PERHUS	DIRECTOR	N/A	Director	$0	$0	$0
BRIAN MARTIN	PAST CHAIR -TREASURER	N/A	Officer Director	$0	$0	$0
DAN THOMPSON	DIRECTOR	N/A	Director	$0	$0	$0
MICHAEL NOFFZE	CHAIR	N/A	Officer Director	$0	$0	$0
TIM MCPHERSON	DIRECTOR	N/A	Director	$0	$0	$0
KIMBERLEE HEGVIK	DIRECTOR	N/A	Director	$0	$0	$0
ERIK LIND	VICE CHAIR	N/A	Officer Director	$0	$0	$0
ROBERT MILLER	DIRECTOR	N/A	Director	$0	$0	$0
PAUL TEFFT	DIRECTOR	N/A	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	$949,304	$877,399	$3,374,260	$71,905
2023	$833,241	$925,156	$3,337,301	$-91,915
2022	$699,525	$876,200	$3,408,810	$-176,675
2021	$787,514	$807,702	$3,974,991	$-20,188
2020	$593,355	$552,225	$4,021,523	$41,130
2019	$792,478	$758,981	$4,059,424	$33,497
2018	$733,081	$767,332	$4,036,838	$-34,251

FARGO AIR MUSEUM