PORT TOWNSEND AERO MUSEUM

EIN: 912122256 501(c)(3) Arts, Culture & Humanities

PORT TOWNSEND, WA

Total Revenue
$932,468
Total Expenses
$701,422
Total Assets
$9,133,007
Net Assets
$9,117,887
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
WA
Principal Officer
MICHAEL PAYNE
Phone
3606709297
Tax Period
2024-01-01 to 2024-12-31

PORT TOWNSEND AERO MUSEUM, founded in 2001, is a small nonprofit in the Arts, Culture & Humanities sector that reported $932K in total revenue in fiscal year 2024. Revenue fell 35% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $231K, a strong 25% operating margin.

Mission

ANTIQUE AIRCRAFT AND ARTIFACT MUSEUM

Program Service Accomplishments

Program 1
Expenses: $643,383

AT THE PORT TOWNSEND AERO MUSEUM, THE DISPLAY OF VINTAGE AIRCRAFT, ARTIFACTS, AND AVIATION ART ARE SECONDARY TO OUR EDUCATIONAL PROGRAMS, WHICH ARE CENTERED AROUND OUR YOUTH VOLUNTEERS. OVER 450...

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AT THE PORT TOWNSEND AERO MUSEUM, THE DISPLAY OF VINTAGE AIRCRAFT, ARTIFACTS, AND AVIATION ART ARE SECONDARY TO OUR EDUCATIONAL PROGRAMS, WHICH ARE CENTERED AROUND OUR YOUTH VOLUNTEERS. OVER 450 YOUNG PEOPLE HAVE GAINED JOB SKILLS AND PRACTICAL EDUCATION DURING THE LAST TWENTY-THREE YEARS. WE CONTINUE TO OFFER THESE OPPORTUNITIES AT NO COST TO THESE TEENAGERS, WHO RESPOND WITH ENHANCED SELF-DISCIPLINE AND RESPECT, AND WHO SHOW GREATER RESPONSIBILITY FOR THEMSELVES. CENTRAL TO OUR PROGRAM IS THE RESTORATION OF VINTAGE AIRCRAFT, OF WHICH SOME ARE MUSEUM OWNED AND OTHERS ARE OWNED BY THE GENERAL PUBLIC. THIS GIVES US MUCH NEEDED INCOME FOR OUR EFFORTS, WHILE THIS WORK ALSO PROVIDES PRACTICAL EXPERIENCE FOR THE STUDENTS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $549,061
Program Service Revenue $50,996
Investment Income $36,738
Other Revenue $295,673
TOTAL REVENUE $932,468

Expense Breakdown

Grants Paid $0
Salaries & Benefits $416,629
Fundraising Expenses $0
Program Expenses $643,383
Other Expenses $284,793
TOTAL EXPENSES $701,422

Year-over-Year Comparison

2024 2023 Change
Revenue $932,468 $1,442,781 -0.4%
Expenses $701,422 $622,335 +0.1%
Net Income $231,046 $820,446 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
4
Employees
6
Volunteers
45

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
3
$199,234
Total Directors
5
$199,234
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL PAYNE SECRETARY/TREAS 45.00
Officer Director
$199,234 $0 $199,234
WILLIAM SLEEPER President 1.00
Officer Director
$0 $0 $0
TERRY O'BRIEN Vice President 1.00
Officer Director
$0 $0 $0
DAVID WILKINSON Director 1.00
Director
$0 $0 $0
JACK BECKER 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 $932,468 $701,422 $9,133,007 $231,046
2023 $1,442,781 $622,335 $8,857,844 $820,446
2022 $816,897 $576,703 $8,009,835 $240,194
2021 $1,457,196 $555,776 $7,746,029 $901,420
2020 $621,101 $562,446 $6,844,363 $58,655
2019 $1,152,044 $630,353 $6,751,152 $521,691
2018 $1,311,519 $575,635 $6,198,040 $735,884
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