2023-05-23T14:28:03-05:00 2022-02-28 366055558 GRANT THORNTON LLP 100 E WISCONSIN AVE MILWAUKEE WI 53202 990 2021-03-01 391033301 EAA AVIATION FOUNDATION INC EAAA 9204264800 3000 POBEREZNY ROAD OSHKOSH WI 54902 JACK PELTON CEO 9204264800 2023-05-23 1 JACK PELTON 999009999 MICHELLE L WEBER P00556798 4142898200 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JACK PELTON 3000 POBEREZNY ROAD OSHKOSH WI 54902 42116165 0 X WWW.EAA.ORG/EAA/SUPPORT-EAA X 1962 WI TO SUPPORT AND ADVANCE THE EDUCATIONAL MISSION OF EAA, INC. THROUGH (CONTINUED ON SCHEDULE O) THE SOLICITATION OF CONTRIBUTIONS. TO INVEST FUNDS AND USE THE EARNINGS TO SUPPORT THE MISSION OF EAA, INC. 7 6 5 6 0 0 9171097 6671334 1009703 1009703 4069808 5176034 -6764 -411561 14243844 12445510 4087765 5084785 0 0 666055 618377 48113 53699 730772 1687686 1553031 6489619 7309892 7754225 5135618 62820883 66251406 529201 1559692 62291682 64691714 X EAA AVIATION FOUNDATION (EAA FOUNDATION) IS ORGANIZED AND OPERATED IN ORDER TO SUPPORT THE EXPERIMENTAL AIRCRAFT ASSOCIATION, INC. (EAA), A SEPARATE 501(C)(3) ORGANIZATION. THE ORGANIZATION, THROUGH THE CONDUCT OF ITS ACTIVITIES, RECEIVES, HOLDS, AND (CONTINUED ON SCHEDULE O) INVESTS FUNDS AND USES THE PRINCIPAL OR EARNINGS THEREFROM FOR THE BENEFIT OF EAA AND ALSO HOLDS TITLE TO CERTAIN ASSETS INCLUDING THE ORGANIZATION'S HEADQUARTERS, OTHER BUILDINGS, AND THE AVIATION MUSEUM COLLECTION. THE ORGANIZATION IS COMPENSATED UNDER A LEASE CONTRACT WITH EAA FOR THE USE OF THESE FACILITIES AND OTHER ASSETS.FORM 990, PART V, LINE 2A:NUMBER OF EMPLOYEES ON FORM W-3THE NUMBER OF EMPLOYEES ON FORM W-3 IS THE TOTAL EMPLOYEE COUNT FOR THE FILING ORGANIZATION. WHILE EAA IS THE COMMON PAYMASTER FOR SOME EAA FOUNDATION EMPLOYEES, THE NUMBER OF EMPLOYEES ONLY INCLUDES THE EMPLOYEE COUNT FOR EAA FOUNDATION. 0 0 5084785 5084785 GRANT CONSISTENT WITH EAA FOUNDATION'S PRIMARY EXEMPT PURPOSE TO EXPERIMENTAL AIRCRAFT ASSOCIATION, INC. IN SUPPORT OF THE AFFILIATED ORGANIZATION'S GENERAL OPERATIONS, SCHOLARSHIPS, INTERNSHIPS, YOUNG EAGLES PROGRAM, OTHER YOUTH EDUCATION PROGRAMS, FLIGHT SAFETY PROGRAMS, SUPPORT OF WOMEN IN AVIATION, AND AVIATION MUSEUM COLLECTIONS. SMALL DONATIONS WERE ALSO MADE TO AVIATION ENTITIES WITH MISSIONS AND PURPOSES CONSISTENT WITH THOSE OF EAA. 993366 1009703 LEASE OF OFFICE SPACE TO AN AFFILIATED EXEMPT ORGANIZATION, EXPERIMENTAL AIRCRAFT ASSOCIATION, INC. 6078151 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 0 1 0 0 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 X 1 0 1 5 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 X 7 6 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 0 0 0 AR FL OH PA WA WI X X KELLY RUH 9204264800 3000 POBEREZNY ROAD OSHKOSH WI 54902 JACK PELTON PRESIDENT 17.50 32.50 X X 184483 342612 81775 BRIAN WIERZBINSKI CFO 12.50 37.50 X 66071 198212 53085 RICK LARSEN ASSISTANT SECRETARY 1.00 49.00 X 4207 206143 42883 TONY WIHLM DIRECTOR, FINANCE - THRU 10/21 12.50 37.50 X 29391 88172 35011 ERIC GURLEY VICE PRESIDENT 10.00 0.00 X X 0 0 0 LOUIS ANDREW SECRETARY/TREASURER 10.00 0.00 X X 0 0 0 CHARLES AHEARN TRUSTEE 10.00 0.00 X 0 0 0 LARRY KEKST TRUSTEE 10.00 0.00 X 0 0 0 LOU SENO TRUSTEE 10.00 10.00 X 0 0 0 NORM DEWITT TRUSTEE 10.00 0.00 X 0 0 0 284152 835139 212754 1 0 1 0 0 1314857 5356477 991001 6671334 RENT INCOME FROM AFFILIATED ORG 531120 1009703 1009703 1009703 548468 548468 5817 5817 33404110 28776544 4627566 4627566 4627566 70200 1314857 644111 -573911 -573911 406500 250000 156500 156500 PURCHASE DISCOUNTS 900099 33 33 33 12445510 1009703 0 4764473 5084785 5084785 339474 160764 178710 191692 45044 146648 10941 4376 6565 61498 12503 48995 14772 3457 11315 9887 9887 34253 34253 53699 53699 66597 66597 44768 27656 17112 49765 93 49672 93238 401 92837 77331 53263 24068 14334 123 14211 212110 146094 66016 23229 23229 ADMINISTRATIVE FEES 805283 794009 11274 0 CREDIT CARD DISCOUNTS 59671 59671 PUBLIC RELATIONS 43630 43630 ANNUITY PROGRAM BENEFIT 10123 10123 8812 1105 7707 7309892 6078151 500969 730772 2067539 894507 1732420 1660925 261157 0 327380 52305 14462699 10622486 4052324 3840213 31607476 29654748 11866193 14502166 10906394 15646542 62820883 66251406 384549 1415040 144652 144652 529201 1559692 X 29556814 34164947 32734868 30526767 62291682 64691714 62820883 66251406 X 5135618 -2794775 59189 X 0 1 X 1 0 X 661333 2622646 9769291 9118233 6671334 28842837 661333 2622646 9769291 9118233 6671334 28842837 8068181 20774656 663563 933075 874090 716292 554285 3741305 8767 201 12725 21693 1022 12049 63 33 13167 32619002 5656265 0.63690 0.57730 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2017 AMOUNT: $ 81. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 12,000. 2020 AMOUNT: $ 53. 2021 AMOUNT: $ 33. UBI TAX REFUND - 2017 AMOUNT: $ 941. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. PURCHASE DISCOUNTS - 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 49. 2020 AMOUNT: $ 10. 2021 AMOUNT: $ 0. SCHEDULE A, PART II - UNUSUAL GRANT 2016 $2,009,698 2017 $1,800,032 2020 $52,864 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 696750 11136088 X X X 0 38264834 765061 2285386 1323421 39991860 31088638 1754205 6615231 1193240 38264834 31104557 489360 1047970 1553249 31088638 31427463 1506498 900835 2730239 31104557 27720883 3432710 2793861 2519991 31427463 0.38224 0.49630 0.12146 1 0 351456 351456 13488581 10296606 3191975 622662 325880 296782 3840213 BENE. INT: PERPETUAL TRST 3603383 F BENE. INT: SPLIT AGRMNTS 230993 F HEDGE FUND 10667790 F 14502166 MUSEUM DISPLAYS AND LIBRARY 11136088 CASH SURRENDER VALUE - LIFE INSURANCE 138889 CAPITAL ADDITION PROJECTS 4371565 15646542 GIFT/ANNUITY PROGRAM RESERVE 144652 144652 X 10047207 -2794775 -24849 -2819624 12866831 66597 -487918 -421321 12445510 7647175 403880 403880 7243295 66597 66597 7309892 PART III, LINE 4: COLLECTIONS OF ARTS AND HISTORICAL TREASURES EXEMPT PURPOSE THE EAA AVIATION FOUNDATION, INC. ALONG WITH THE EAA AVIATION MUSEUM, MAINTAINS A COLLECTION OF HISTORIC AIRCRAFT, ARTIFACTS, AND ARCHIVAL MATERIALS RELATED TO THE HISTORY OF AVIATION WITH AN EMPHASIS ON RECREATIONAL AVIATION. THE COLLECTION INCLUDES APPROXIMATELY 230 AIRCRAFT, APPROXIMATELY 17,250 ARTIFACTS, 20,200 BOOKS AND PERIODICALS, 806,000 PHOTOGRAPHS AND 8,560 HOURS OF FILM AND VIDEO. THE FOUNDATION LOANS THE COLLECTION TO EAA AND EAA MAKES THESE COLLECTIONS AVAILABLE TO THE GENERAL PUBLIC THROUGH ON-SITE EXHIBITS IN THE PUBLIC MUSEUM, EDUCATIONAL PROGRAMMING, A RESEARCH LIBRARY, AND WEB-BASED CONTENT THAT ATTRACTS MILLIONS OF VISITS EACH YEAR. THROUGH ITS COLLECTIONS, EAA EXPLORES AND CELEBRATES AVIATION'S PAST AND THE SPIRIT OF AVIATION TO ENCOURAGE LEARNING, DISCOVERY, AND ENGAGEMENT WITH AVIATION. PART V, LINE 4: INTENDED USES OF ORGANIZATION'S ENDOWMENT FUNDS THE INTENDED USES OF EAA FOUNDATION'S ENDOWMENT FUNDS ARE TO PROVIDE SUPPORT TO EAA FOR GENERAL OPERATIONS, SCHOLARSHIPS, INTERNSHIPS, YOUNG EAGLES PROGRAM, OTHER YOUTH EDUCATION PROGRAMS, FLIGHT SAFETY PROGRAMS, SUPPORT OF WOMEN IN AVIATION, AND AVIATION MUSEUM COLLECTIONS. PART X, LINE 2: ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 THE ASSOCIATION HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS"), DATED NOVEMBER 3, 1993, STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). THE FOUNDATION HAS RECEIVED A DETERMINATION LETTER FROM THE IRS, DATED OCTOBER 30, 1964, STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE IRC. THE ASSOCIATION AND FOUNDATION PAY UNRELATED BUSINESS INCOME TAX ON CERTAIN OF ITS ACTIVITIES, WHICH ARE DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. AS REQUIRED BY THE UNCERTAIN TAX POSITION GUIDANCE, THE ASSOCIATION AND THE FOUNDATION RECOGNIZE THE FINANCIAL STATEMENT BENEFIT OF A TAX POSITION ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. FOR TAX POSITIONS MEETING THE MORE-LIKELY-THAN-NOT THRESHOLD, THE AMOUNT RECOGNIZED IN THE FINANCIAL STATEMENTS IS THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAX AUTHORITY. THE ASSOCIATION AND THE FOUNDATION APPLIED THE UNCERTAIN TAX POSITION GUIDANCE TO ALL TAX POSITIONS FOR WHICH THE STATUTE OF LIMITATIONS REMAINED OPEN AND DETERMINED THERE WERE NO MATERIAL UNRECOGNIZED TAX BENEFITS AS OF FEBRUARY 28, 2022 AND FEBRUARY 28, 2021. THERE WERE NO INTEREST OR PENALTIES RELATED TO INCOME TAX THAT HAVE BEEN ACCRUED OR RECOGNIZED AS OF AND FOR THE YEARS ENDED FEBRUARY 28, 2022 AND FEBRUARY 28, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST: SPLIT INTEREST AGMT 45,560. BOOK TO TAX ADJUSTMENT FOR REALIZED LOSSES -70,409. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAMING REVENUE 386,500. AUCTION ITEMS EXCESS CONTRIBUTIONS 19,693. GIFTS IN KIND REPORTED FOR TAX -166,618. GAMING EXPENSES -250,000. FUNDRAISING DIRECT EXPENSES -477,493. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING DIRECT EXPENSES 477,493. GAMING EXPENSES 250,000. ADJUSTMENT TO BAD DEBT ALLOWANCE 50,777. CHANGE IN CASH SURRENDER VALUE: LIFE INSURANCE 12,110. GAMING REVENUE -386,500. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 1720063 0 0 0 0 0 0 1720063 0 1720063 1 0 1 0 1 0 PART III ACCOUNTING METHOD: PART IV: FOREIGN FORMS WHILE THE FILING ORGANIZATION DOES HAVE OWNERSHIP OF A FOREIGN FUND, THE OWNERSHIP PERCENTAGE IS BELOW THE FILING THRESHOLDS AND NO CAPITAL WAS INVESTED INTO THE FOREIGN FUND DURING THE TAX YEAR. X X X 1 GOAL BUSTERS LLC 555 N PINECLIFF DR FLAGSTAFF AZ 86001 APPEAL MANAGEMENT 0 290950 49699 241251 290950 49699 241251 THE GATHERING 1364204 1294004 70200 166618 37812 94485 341394 ONLINE AUCTIONS 20853 20853 3802 1385057 1314857 70200 166618 37812 94485 345196 644111 -573911 406500 236786 13214 1 0.75000 406500 236786 13214 250000 156500 WI 1 0 1 0 0.12000 0.88000 MATT PEMBLE 3000 POBEREZNY ROAD OSHKOSH WI 54902 0 MATT PEMBLE 577 DISTRIBUTION, RECONCILIATION, COORDINATION WITH AUDITOR X 0 SCHEDULE G, PART III GAMING ACTIVITIES GAMING INCLUDES THE YOUNG EAGLES RAFFLE. PROCEEDS FROM ALL GAMING ACTIVITIES SUPPORT EAA'S MISSION TO GROW PARTCIPATION IN AVIATION. SCHEDULE G, PART III, LINE 13B GAMING CONDUCTED AT OUTSIDE FACILITY THE ORGANIZATION CONDUCTS MOST OF ITS GAMING SALES ON A RELATED ENTITY'S GROUNDS. 1 EXPERIMENTAL AIRCRAFT ASSOCIATION INC 3000 POBEREZNY ROAD OSHKOSH WI 54902 390917537 501(C)(3) 5084785 0 GRANT - SEE FORM 990 PART III, LINE 4A 1 0 PART I, LINE 2: THE FOUNDATION GRANTS TO EAA A) AN ENDOWMENT INTEREST TRANSFER B) PROGRAMS WITH DEFICIT OPERATIONS SUPPORT AND C) SPECIFIC PURPOSE SUPPORT. THE FOUNDATION MAY, IN ITS DISCRETION, COMMIT TO GRANT TO EAA A STATED AGREED PERCENTAGE OF THE 3-YEAR ROLLING AVERAGE OF THE AGGREGATE BALANCE OF ENDOWED FUNDS HELD BY THE FOUNDATION AS OF DECEMBER 31 OF EACH OF THE PRECEDING 3 CALENDAR YEARS. IF EAA COMPLIES WITH RESTRICTIONS IMPOSED BY THE DONORS OF THE ENDOWED FUND OR MEETS THE ENDOWED FUND'S PURPOSE, THE FOUNDATION WILL GRANT TO EAA AN AMOUNT UP TO THE CALCULATED PERCENTAGE OF THE FUND TO COVER QUALIFIED EXPENDITURES OF EAA. IN ADDITION, THE FOUNDATION MAY, IN ITS DISCRETION, COMMIT TO ENDEAVOR TO RAISE ANNUAL FUNDS TO MEET EAA'S GOALS AND TO HELP SUPPORT EAA PROGRAMS WITH DEFICIT OPERATIONS. THE GRANT TO EAA TO HELP FUND PROGRAMS WITH DEFICIT OPERATIONS IS DETERMINED ANNUALLY DURING THE ANNUAL BUDGETING PROCESS. THIS GRANT IS UNRESTRICTED TO EAA. FINALLY, SPECIFIC PHILANTHROPIC SUPPORT WITH RESTRICTIONS IMPOSED BY DONORS ARE GRANTED TO EAA WHEN EAA MEETS THE PURPOSE RESTRICTIONS OF THE CONTRIBUTIONS. ON A QUARTERLY BASIS, EAA REPORTS TO FOUNDATION ON HOW GRANT FUNDS WERE USED AND EAA PROVIDES AN UPDATE ON EAA PROGRAM ACTIVITY. X 0 0 0 0 0 1 1 1 1 0 0 JACK PELTON PRESIDENT 184181 342050 0 0 302 562 20945 38899 7676 14255 213104 395766 0 0 BRIAN WIERZBINSKI CFO 66071 198212 0 0 0 0 6671 20012 6601 19801 79343 238025 0 0 RICK LARSEN ASSISTANT SECRETARY 4207 206143 0 0 0 0 439 21509 419 20516 5065 248168 0 0 TONY WIHLM DIRECTOR, FINANCE - THRU 10/21 28084 84251 0 0 1307 3921 2953 8860 5800 17398 38144 114430 0 0 PART I, LINE 1A SOCIAL CLUB DUES EAA, A RELATED ENTITY, PROVIDES AN EAA EMPLOYEES FLYING CLUB MEMBERSHIP FOR THE FOLLOWING EMPLOYEE: JACK PELTON. THE AMOUNT TREATED AS TAXABLE COMPENSATION IS INCLUDED ON SCHEDULE J, PART II. PART I, LINE 1B SOCIAL CLUB DUES REFER TO THE PART I, LINE 1A NARRATIVE. PART I, LINE 5 COMPENSATION CONTINGENT ON REVENUES OF THE ORGANIZATION ONE OF THE CATEGORIES USED TO DETERMINE INCENTIVE COMPENSATION FOR THE OFFICERS AND KEY EMPLOYEES IS GROSS OPERATING REVENUE. PART I, LINE 6 COMPENSATION CONTINGENT ON NET EARNINGS OF THE ORGANIZATION ONE OF THE CATEGORIES USED TO DETERMINE INCENTIVE COMPENSATION FOR THE OFFICERS AND KEY EMPLOYEES IS NET OPERATING INCOME. X 5 388000 FMV X 16 123098 FMV X 1 3165 FMV X 6 308750 FMV X AUCTION ITEMS 68 166618 FMV X HOSPITALITY ITEMS 1 1370 FMV 1 0 1 1 PART I, LINE 32B: THIRD PARTIES AND NONCASH CONTRIBUTIONS EAA FOUNDATION MAY USE A THIRD PARTY TO LIQUIDATE NONCASH CONTRIBUTIONS UNLESS THEY ARE USED DIRECTLY FOR THE BENEFIT OF EAA. FORM 990, PART VI, SECTION A, LINE 7B CLASS OR CLASSES OF PERSONS WITH CERTAIN APPROVAL RIGHTS EAA FOUNDATION'S BOARD MEMBER NOMINEES ARE APPROVED BY THE EAA BOARD. EAA IS A RELATED TAX-EXEMPT ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B PROCESS THE ORGANIZATION USES TO REVIEW FORM 990 THE FORM 990 WAS PREPARED BY A NATIONAL ACCOUNTING FIRM AND REVIEWED BY ORGANIZATION MANAGEMENT. A DRAFT COPY OF THE RETURN WAS SENT ELECTRONICALLY TO THE EAA FOUNDATION BOARD OF TRUSTEES FOR REVIEW AND APPROVAL. A FINAL COPY WAS SENT TO THE BOARD OF TRUSTEES BEFORE THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ORGANIZATION'S PRACTICES FOR MONITORING CONFLICTS OF INTEREST ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO SIGN THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. IN-HOUSE LEGAL COUNSEL REVIEWS ALL FORMS. ANY DISCLOSURES NOTED ARE BROUGHT TO THE ATTENTION OF THE BOARD OF TRUSTEES TO REVIEW. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION OF TOP MANAGEMENT EAA FOUNDATION RELIES ON EAA TO FACILITATE COMPENSATION OF SHARED EMPLOYEES AND OFFICERS. EAA IS REIMBURSED FOR THE FOUNDATION'S PROPORTIONATE SHARE OF EXPENSES BASED ON TIME SPENT AND IS INCLUDED IN EAA FOUNDATION'S ADMINISTRATIVE FEE EXPENSE. FORM 990, PART VI, SECTION C, LINE 18 ORGANIZATION'S POLICY REGARDING MAKING CERTAIN DOCUMENTS PUBLIC THE 2022 FISCAL YEAR FORM 990 WILL BE POSTED TO THE ORGANIZATION'S WEBSITE, WWW.EAA.ORG, UPON THE FILING OF THE RETURN WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATION'S POLICY REGARDING MAKING CERTAIN DOCUMENTS PUBLIC THE ANNUAL AUDITED FINANCIAL STATEMENT IS AVAILABLE ON EAA'S WEBSITE WWW.EAA.ORG. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE ALSO AVAILABLE UPON REQUEST, EITHER IN HARD COPY OR ELECTRONIC FORM, WHICHEVER IS REQUESTED. FORM 990, PART XI, LINE 9: GIFTS IN KIND REPORTED FOR TAX 166,618. CHANGE IN BENEFICIAL INT: SPLIT INT AGREEMENT 45,560. CHANGE IN CASH SURRENDER VALUE: LIFE INSURANCE -12,110. AUCTION ITEMS IN EXCESS CONTRIBUTIONS -19,693. ADJUSTMENT TO BAD DEBT ALLOWANCE -50,777. BOOK TO TAX ADJUSTMENT FOR REALIZED LOSSES -70,409. EXPERIMENTAL AIRCRAFT ASSOCIATION INC 3000 POBEREZNY ROAD OSHKOSH WI 54902 390917537 AVIATION WI 501(C)(3) LINE 10 N/A 0 0 1 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0