HOUSTON AERONAUTICAL HERITAGE SOCIETY INC

EIN: 760612294 501(c)(3) Arts, Culture & Humanities

HOUSTON, TX

Total Revenue
$324,772
Total Expenses
$315,085
Total Assets
$110,412
Net Assets
$65,819
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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
TX
Principal Officer
KAREN NICOLAOU
Phone
7134541940
Tax Period
2024-01-01 to 2024-12-31

HOUSTON AERONAUTICAL HERITAGE SOCIETY INC, founded in 1998, is a small nonprofit in the Arts, Culture & Humanities sector that reported $325K in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year.

Mission

THE MISSION OF THE 1940 AIR TERMINAL MUSEUM IS TO DEMONSTRATE THE IMPACT OF AVIATION ON HOUSTON'S HISTORY AND ECONOMIC DEVELOPMENT THROUGH THE PRISM OF ARCHITECTURAL BEAUTY.

Program Service Accomplishments

Program 1

THE 1940 AIR TERMINAL IS DEMONSTRATING THE IMPACT OF AVIATION ON HOUSTON'S HISTORY AND ECONOMIC DEVELOPMENT THROUGH THE PRISM OF ARCHITECTURAL BEAUTY AND STRIVES TO BE A SPACE WHERE ALL CAN ENJOY A...

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THE 1940 AIR TERMINAL IS DEMONSTRATING THE IMPACT OF AVIATION ON HOUSTON'S HISTORY AND ECONOMIC DEVELOPMENT THROUGH THE PRISM OF ARCHITECTURAL BEAUTY AND STRIVES TO BE A SPACE WHERE ALL CAN ENJOY A MULTITUDE OF INTERESTS SUCH AS AVIATION, ART, ARCHITECTURE, HISTORY AND CULTURE. OPERATING THE 1940 AIR TERMINAL MUSEUM LOCATED ON THE WEST RAMP OF THE WILLIAM P. HOBBY AIRPORT. THE MUSEUM COMPRISES SEVERAL GALLERIES CONTAINING AVIATION MEMORABILIA AND THE 1928 CARTER AIRMAIL HANGAR.

Program 2
Expenses: $308,283 Revenue: $223,332

THE HOUSTON AERONAUTICAL HERITAGE SOCIETY IS RESPONSIBLE FOR THE OPERATION AND MAINTENANCE OF THE 1940 AIR TERMINAL MUSEUM AND ACHIEVES THIS THROUGH A DEDICATED ALL VOLUNTEER BOARD OF DIRECTORS ALONG...

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THE HOUSTON AERONAUTICAL HERITAGE SOCIETY IS RESPONSIBLE FOR THE OPERATION AND MAINTENANCE OF THE 1940 AIR TERMINAL MUSEUM AND ACHIEVES THIS THROUGH A DEDICATED ALL VOLUNTEER BOARD OF DIRECTORS ALONG WITH 2 STAFF MEMBERS AND AN INCREDIBLE TEAM OF MUSEUM VOLUNTEERS ENSURING ALL GUESTS HAVE A WONDERFUL EXPERIENCE.

Program 3

THE 1940 AIR TERMINAL MUSEUM AT HOBBY AIRPORT CELEBRATES THE ART DECO AIR TERMINAL TURNING 80 YEARS OLD ON SEPTEMBER 28, 2020. OPENED ON SEPTEMBER 28, 1940, THE AIR TERMINAL, DESIGNED BY ARCHITECT...

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THE 1940 AIR TERMINAL MUSEUM AT HOBBY AIRPORT CELEBRATES THE ART DECO AIR TERMINAL TURNING 80 YEARS OLD ON SEPTEMBER 28, 2020. OPENED ON SEPTEMBER 28, 1940, THE AIR TERMINAL, DESIGNED BY ARCHITECT JOSEPH FINGER, SERVED AS THE ADMINISTRATION BUILDING FOR THE AIRPORT AND SUPPORTED AIRLINE OPERATIONS AND AIR TRAFFIC CONTROL FUNCTIONS. THE FIRST AIRLINE TENANTS WERE EASTERN AIRLINES AND BRANIFF AIRWAYS. IN A FEW SHORT YEARS AIR TRAVEL GREW EXPONENTIALLY, AND THE TERMINAL CEASED AIRLINE OPERATIONS IN 1956. THE BUILDING WAS COMPLETELY ABANDONED BY 1978 AND WAS LEFT VACANT UNTIL ITS RESURGENCE AS THE 1940 AIR TERMINAL MUSEUM IN 2004.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $38,559
Program Service Revenue $46,362
Investment Income $0
Other Revenue $239,851
TOTAL REVENUE $324,772

Expense Breakdown

Grants Paid $0
Salaries & Benefits $24,069
Fundraising Expenses $0
Program Expenses $308,283
Other Expenses $291,016
TOTAL EXPENSES $315,085

Year-over-Year Comparison

2024 2023 Change
Revenue $324,772 $357,166 -0.1%
Expenses $315,085 $355,322 -0.1%
Net Income $9,687 $1,844 +4.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
5
Employees
1
Volunteers
27

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
2
$0
Total Directors
5
$18,438
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KAREN NICOLAOU PRESIDENT AND DIRECTOR 2.00
Officer Director
$0 $0 $0
BERNARD MORRIS DIRECTOR 5.00
Director
$0 $0 $0
GEORGE HAINES DIRECTOR 20.00
Director
$18,438 $0 $18,438
BLAIR MCFARLAIN SECRETARY AND DIRECTOR 3.00
Officer Director
$0 $0 $0
MAJORIE EVANS DIRECTOR 1.00
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
2024 $324,772 $315,085 $110,412 $9,687
2023 $357,166 $355,322 $110,793 $1,844
2022 $207,117 $321,487 $93,809 $-114,370
2021 $335,117 $212,081 $208,878 $123,036
2020 $160,594 $212,508 $122,445 $-51,914
2019 $287,737 $262,264 $150,989 $25,473
2018 $221,928 $217,495 $124,567 $4,433
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