2012-03-01T14:00:31-06:00 2011-02-28 Grant Thornton LLP 1OO E WISCONSIN AVE MILWAUKEE WI 53202 990 2010-03-01 391033301 EAA Aviation Foundation Inc EAAA 9204264800 PO BOX 3086 Oshkosh WI 549033086 BRIAN WIERZBINSKI 2012-11-06 4142898200 2010 2016-02-24 21:20:13Z RODNEY HIGHTOWER PRESIDENT 3000 POBEREZNY ROAD OSHKOSH WI 54902 2451728 false X WWW.EAA.ORG/SUPPORT X 1962 WI RECEIVE, HOLD, AND INVEST FUNDS AND USE THE EARNINGS THEREFROM FOR THE SUPPORT OF EXPERIMENTAL AIRCRAFT ASSOCIATION, INC. THE FOUNDATION ALSO HOLDS TITLE TO AND LEASES CERTAIN PROPERTY USED BY EAA. 7 5 0 7 0 0 555577 845838 1006704 1006704 440632 412373 13374 28818 2016287 2293733 1039708 1046404 0 0 0 0 0 0 357380 1606368 1601406 2646076 2647810 -629789 -354077 35699610 38491103 475109 484673 35224501 38006430 X EAA AVIATION 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 INVESTS FUNDS AND USES THE 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. false false 1046404 1046404 0 GRANT CONSISTENT WITH EAA AVIATION 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. 163229 0 1006704 Lease of office space to an affiliated exempt organization, Experimental Aircraft Association, Inc. 1209633 true true false false false false true false true true false false true true true false true false false false false false false false false false true true true false false false false false false false false false true false false false true false false false false true 0 0 0 false false false false false true true false false false true false X 7 5 false false false false false false true true true false false true true true true true true false false false WI X BRIAN WIERZBINSKI 9204264812 3000 POBEREZNY ROAD OSHKOSH WI 54902 X Stuart Auerbach 10.0 X 0 0 0 Richard W Hansen 10.0 X X 0 0 0 Jon Jacobs 10.0 X 0 0 0 Thomas W Wathen 10.0 X 0 0 0 Thomas P Poberezny 10.0 X X 0 488196 81686 RODNEY HIGHTOWER 10.0 X X 0 110983 5873 John Vette 10.0 X X 0 0 0 James C Ray 10.0 X 0 0 0 0 599179 87559 0 false true false 0 845838 8995 845838 RENT INCOME FROM AFFILIATED ORGANIZATION 531120 1006704 1006704 1006704 422474 422474 0 28818 28818 142894 5000 138495 19500 4399 -14500 -10101 -10101 0 0 0 0 2293733 1006704 441191 1037404 1037404 9000 9000 0 0 0 0 0 0 0 0 0 187 137 50 40975 40975 0 0 0 4900 4900 2265 2265 348 348 0 0 54027 8104 45923 0 0 0 0 0 454032 54429 399603 12990 12990 ADMINISTRATIVE FEES 933744 100696 580159 252889 ANNUITY PROGRAM BENEFIT PAYMNT 42671 42671 LIFE INS PREMIUM EXP-INVESTMNT 35689 35689 DEVEL. PROGRAM BENEFITS 16542 16542 DUES AND SUBSCRIPTIONS 2105 2105 931 1010 -79 2647810 1209633 1080797 357380 29005 1915 19977 19765 7492 4715 151173 700 30518 24210 17401096 9865352 7989775 7535744 19495597 22949129 7976073 7954925 35699610 38491103 54735 267188 420374 217485 475109 484673 X 23689214 24514081 3807585 1259580 7727702 12232769 35224501 38006430 35699610 38491103 X -354077 3136006 X false true true X false X 528845 1476124 1003053 555577 845838 4409437 528845 1476124 1003053 555577 845838 4409437 1178323 3231114 537319 804110 632363 397674 451292 2822758 7232195 5056788 0.44677 0.43240 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8995 7600965 X X X false 17287079 865661 3698881 1026613 1124136 19700872 31220689 541452 4949115 1039710 18384467 17287079 39689254 1003131 -7554866 1174523 742307 31220689 0.37246 0.62092 0.00661 false true true 351456 351456 13971202 7440815 6530387 1037928 654232 383696 24170 24144 26 2016340 1746161 270179 7535744 MUSEUM DISPLAYS AND LIBRARY 7600965 CASH SURR. VALUE - LIFE INS. 340852 INTEREST RECEIVABLE 13108 7954925 0 GIFT/ANNUITY PROGRAM RESERVE 217485 217485 2293733 2647810 -354077 3205522 -69516 3136006 2781929 5374688 3205522 3205522 2169166 35689 88878 124567 2293733 2592759 9558 9558 2583201 35689 28920 64609 2647810 COLLECTIONS OF ART AND HISTORICAL TREASURES EXEMPT PURPOSE SCHEDULE D, PART III, LINE 4 EAA FOUNDATION, TOGETHER WITH EAA MAINTAINS A COLLECTION OF HISTORIC ARTIFACTS AND ARCHIVAL MATERIALS RELATED TO THE HISTORY OF RECREATIONAL AVIAITON - NUMBERING APPROXIMATELY 200 AIRPLANES, 400 ENGINES, 20,000 OTHER ARTIFACTS, 20,000 BOOKS AND PERIODICALS, 1.2 MILLION PHOTOGRAPHS AND 6,000 HOURS OF FILM AND VIDEO. THOSE COLLECTIONS ARE LOANED TO THE EAA TO BE USED FOR EDUCATIONAL PURPOSES, THROUGH THE EXHIBITS AND PROGRAMS OF A WORLD-RENOWNED AVIAITON MUSEUM OPEN TO THE GENERAL PUBLIC, THROUGH A PUBLIC RESEARCH LIBRARY, AND THROUGH A SERIES OF WEBSITES THAT ATTRACT IN EXCESS OF 10 MILLION VISITS PER YEAR. INTENDED USES OF ORGANIZATION'S ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE INTENDED USES OF EAA AVIATION FOUNDATION, INC.'S ENDOWMENT FUNDS ARE TO PROVIDE SUPPORT TO THE EXPERIMENTAL AIRCRAFT ASSOCiation INC. FOR GENERAL OPERATIONS, SCHOLARSHIPS, INTERNSHIPS, YOUNG EAGLES PROGRAM, OTHER YOUTH EDUCATION PROGRAMS, FLIGHT SAFETY PROGRAMS, SUPPORT OF WOMEN IN AVIATION, AND AVIATION MUSEUM COLLECTIONS. OTHER CHANGES IN NET ASSETS SCHEDULE D, PART XI, LINE 8 UNREALIZED CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE ($9,558) Intercompany allocation ($59,958) Total ($69,516) Reconciliation of Revenue per Audited Fin Stmts with Revenue per Return SCHEDULE D, PART XII, LINE 4b Intercompany Allocation $59,958 Book/Tax Difference $28,920 Total $88,878 Reconciliation of Expenses per Audited Fin Stmts with Expenses per Return SCHEDULE D, PART XIII, LINE 2D UNREALIZED Change in Cash surrender value of life insurance $9,558 Reconciliation of Expenses per Audited Fin Stmts with Expenses per Return Schedule D, Part XIIi, Line 4b Book/Tax Difference $28,290 ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 SCHEDULE D, PART X, Question 2 As required by the uncertain tax position guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 740, Income Taxes, 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 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Association and the foundation applied the uncertain tax position guidance in asc 740 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, 2011, the statute of limitations is no longer open for years before 2008 for federal income tax purposes. For state income tax purposes, the statute of limitations is no longer open for years before 2007. 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, 2011 and 2010. true EXPERIMENTAL AIRCRAFT ASSOCIATION INC 3000 POBEREZNY ROAD OSHKOSH WI 54902 390917537 501(c)(3) 1037404 GRANT-SEE FORM 990, PART III, LINE 4A. 1 0 SCHOLARSHIP 2 9000 Monitoring Use of Grant Funds Schedule I, Part I, Line 1 IN JANUARY OF EACH YEAR, THE FOUNDATION AVERAGES ITS LAST THREE YEARS OF INVESTMENT BALANCES AS OF DECEMBER 31. 5% OF THE THREE YEAR AVERAGES IS TRANSFERRED TO THE EAA. THIS CALCULATION AND PAST YEAR TRANSFERS IS REVIEWED AND APPROVED BY THE FOUNDATION BOARD OF TRUSTEES. THE FUNDS TRANSFERRED TO EAA ARE USED TO SUPPORT SCHOLARSHIPS OR SPECIFIC PROGRAMS IF THE ORIGINAL DONOR SO SPECIFIED. FOR AMOUNTS NOT RESTRICTED TO A SPECIFIC PURPOSE, THE FUNDS ARE USED TO SUPPORT EAA'S GENERAL OPERATING EXPENSES. IF THE EAA WERE TO CEASE TO EXIST OR SUBSTANTIALLY CHANGE FUNCTIONALLY, A SIMILAR NOT-FOR-PROFIT ORGANIZATION WOULD BE SOUGHT TO PROVIDE FUNDING FOR. ORGANIZATION'S PROCEDURES FOR MONITORING USE OF GRANT FUNDS SCHEDULE I, PART I, LINE 2 STUDENT SCHOLARSHIPS ARE AWARDED BASED ON DONOR DESIGNED CRITERIA. THESE PARAMETERS COULD INCLUDE GEOGRAPHIC LOCATION, GENDER, FINANCIAL NEED OR A DIVERSITY REQUEST. THE DONOR IS NOT INVOLVED IN THE SELECTION PROCESS, AS THE SCHOLARSHIPS ARE AWARDED THROUGH AN INDEPENDENT SELECTION COMMITTEE. false true false false true false true false false Thomas P Poberezny 0 355895 0 132301 0 0 0 51029 0 30657 0 569882 0 0 Participation in payment from supplemental nonqualified retirement plan Schedule J, Part I, Line 4b Person listed in form 990, part vi, section a, line 1a with respect to a related organization that participated in, or received payment from, a supplemental nonqualified retirement plan include: Name: Amount: Thomas P. Poberezy $25,658 Process for determining compensation of top management Schedule J, Part I, Line 3 EAA Aviation Foundation, Inc. does not pay any compensation; however, Experimental Aircraft Association, inc., a related party, does pay compensation. Experimental Aircraft Association, Inc uses Compensation Surveys / studies and Approval by the Board or Compensation Committee. Compensation contingent on revenues of the organization schedule j, part i, line 5b one of the categories used to determine incentive compensation for the President and key employees is gross operating revenue. compensation contingent on net earnings of the organization schedule j, part i, line 6b one of the categories used to determine incentive compensation for the president and key employees is net operating income. X 2 8995 EXPERT APPRAISALS 0 false true true THIRD PARTIES AND NONCASH CONTRIBUTIONS SCHEDULE M, LINE 32A EAA AVIATION FOUNDATION, INC. USES A THIRD PARTY TO LIQUIDATE NON-CASH CONTRIBUTIONS. Independence of voting members of the governing body form 990, part i, line 4 EAA AVIATION FOUNDATION, INC. REPORTS 5 OF THE 7 VOTING MEMBERS TO BE INDEPENDENT. THOMAS POBEREZNY AND RODNEY HIGHTOWER ARE NOT INDEPENDENT AS THEY SERVE ON THE BOARD FOR BOTH EAA AVIATION FOUNDATION, INC. AND EXPERIMENTAL AIRCRAFT ASSOCIATION. TOM AND RODNEY ARE INDIRECTLY COMPENSATED THROUGH SALARY REIMBURSEMENT BY EXPERIMENTAL AIRCRAFT ASSOCIATION. CLASS OR CLASSES OF PERSONS WITH CERTAIN APPROVAL RIGHTS FORM 990, PART VI, LINE 7B THE EAA AVIATION FOUNDATION'S BOARD MEMBER NOMINEES ARE APPROVED BY THE EXPERIMENTAL AIRCRAFT ASSOCIATION'S BOARD. THE EXPERIMENTAL AIRCRAFT ASSOCIATION IS A RELATED TAX-EXEMPT ORGANIZATION. PROCESS THE ORGANIZATION USES TO REVIEW FORM 990 FORM 990, PART VI, LINE 11 A DRAFT COPY OF THE RETURN WAS SENT ELECTRONICALLY TO ALL FOUNDATION TRUSTEES. IT WAS REVIEWED VIA TELECONFERENCE ON JANUARY 4, 2012 WITH THE TRUSTEES, MANAGEMENT, AND GRANT THORNTON. ORGANIZATION'S PRACTICES FOR MONITORING CONFLICTS OF INTEREST FORM 990, PART VI, LINE 12C ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO SIGN THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. IN-HOUSE LEGAL COUNSEL FOLLOWS UP WITH ANYONE WHO DOES NOT SIGN. IN-HOUSE LEGAL COUNSEL REVIEWS ALL FORMS. ANY DISCLOSURES NOTED ARE BROUGHT TO THE ATTENTION OF THE AUDIT COMMITTEE TO DETERMINE IF THE SUBJECT MATTER OF DISCLOSURE IS DEEMED TO BE A CONFLICT OF INTEREST. PROCESS FOR DETERMINING COMPENSATION OF TOP MANAGEMENT FORM 990, PART VI, LINE 15A-B THE EAA AVIATION FOUNDATION DOES NOT COMPENSATE ITS TRUSTEES NOR DOES IT HAVE ANY EMPLOYEES. THE DAY-TO-DAY MANAGEMENT OF THE FOUNDATION IS HANDLED BY THE EXPERIMENTAL AIRCRAFT ASSOCIATION, INC. (EAA) AND ITS EMPLOYEES. EAA IS REIMBURSED FOR THEIR EXPENSES AS INDICATED BY THE FOUNDATION'S ADMINISTRATIVE FEE EXPENSE. SEE SCHEDULE O RESPONSE TO FORM 990, PART VI, LINE 3. ORGANIZATION'S POLICY REGARDING MAKING CERTAIN DOCUMENTS PUBLIC FORM 990, PART VI, LINE 19 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. Reconciliation of Net Assets Form 990, Part XI, line 5 Unrealized gain $3,205,522 Intercompany allocation ($59,958) Unrealized change in cash surrender value ($9,558) Total $3,136,006 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Thomas P Poberezny TITLE:President HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:RODNEY HIGHTOWER TITLE:Vice President HOURS:40 EXPERIMENTAL AIRCRAFT ASSOCIATION INC po box 3086 oshkosh WI 549033086 390917537 AVIATION WI 501(C)(3) 9 na false true false false false false false false true false true true false false true true false false