2011-01-14T09:41:14-06:00 2010-02-28 Grant Thornton LLP PO Box 8100 Madison WI 537088100 990 2009-03-01 391033301 EAA Aviation Foundation Inc EAAA 9204264800 PO BOX 3086 Oshkosh WI 549033086 Rodney Hightower 2011-01-13 true Ann Petrie 6082576761 X 2009 2016-02-24 21:20:13Z TOM POBEREZNY PRESIDENT 3000 POBEREZNY ROAD OSHKOSH WI 54902 2132009 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. 6 5 0 0 0 0 1003053 555577 1006704 1006704 574583 440632 21280 13374 2605620 2016287 1174523 1039708 0 0 0 0 0 0 51531 1738018 1606368 2912541 2646076 -306921 -629789 32302442 35699610 1082192 475109 31220250 35224501 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 1039708 1039708 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. 8902 1006704 LEASE OF OFFICE SPACE TO AN AFFILIATED EXEMPT ORGANIZATION, EXPERIMENTAL AIRCRAFT ASSOCIATION, INC. 1048610 true true false false false false true false true true false true false false false false false false false false false true false false false false false false false false false false true true false false false false false false false true 0 0 0 false false false false false false false false false true true 6 5 false true 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 THOMAS P POBEREZNY 10.0 X X 0 0 0 THOMAS W WATHEN 10.0 X 0 0 0 RICHARD W HANSEN 10.0 X X 0 0 0 JAMES C RAY 10.0 X 0 0 0 JOHN VETTE 10.0 X X 0 0 0 JON JACOBS 10.0 X 0 0 0 0 0 0 0 false false false 0 555577 27500 555577 RENT INCOME FROM AFFILIATED ORGANIZATION 531120 1006704 1006704 1006704 384300 384300 0 13374 13374 90479 81575 112215 3507 -21736 78068 56332 56332 0 0 0 0 2016287 1006704 454006 1039708 1039708 0 0 0 0 0 0 0 0 0 0 220 205 15 59067 59067 0 0 12342 12342 3290 3290 6458 6458 3766 3766 0 0 59349 8902 50447 700 700 0 0 0 0 475635 475635 14495 14495 ADMINISTRATIVE FEES 933744 933744 DEVEL. PROGRAM BENEFITS 33825 33825 DUES AND SUBSCRIPTIONS 3160 3160 MISCELLANEOUS 317 317 2646076 1048610 1545935 51531 48173 29005 52367 19977 5524 7492 0 151173 30946 30518 17403098 9413323 8468918 7989775 15764462 19495597 7932052 7976073 32302442 35699610 54089 54735 1028103 420374 1082192 475109 X 20921594 23689214 3525 3807585 10295131 7727702 31220250 35224501 32302442 35699610 X false true true X false X 521475 528845 1476124 1003053 555577 4085074 521475 528845 1476124 1003053 555577 4085074 1037380 3047694 592255 537319 804110 632363 397674 2963721 7048795 5070657 0.43237 0.37923 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 7609970 X X X false 31220689 541452 4949115 1039710 18384467 17287079 39689254 1003131 -7554866 1174523 742307 31220689 0.33290 0.44700 0.22010 true false 351456 351456 13971202 7077954 6893248 1037928 639161 398767 24170 24091 79 2018342 1672117 346225 7989775 MUSEUM DISPLAYS AND LIBRARY 7609973 INTERCOMPANY ACCOUNTS 0 CASH SURR. VALUE - LIFE INS. 351335 INTEREST RECEIVABLE 14765 7976073 0 INTERCOMPANY ACCOUNTS 0 GIFT/ANNUITY PROGRAM RESERVE 420374 420374 2016287 2646076 -629789 4566561 67479 4634040 4004251 6590467 4566561 19961 4586522 2003945 12342 12342 2016287 2586216 2586216 12342 47518 59860 2646076 COLLECTIONS OF ART AND HISTORICAL TREASURES EXEMPT PURPOSE SCHEDULE D, PART III, LINE 4 THE EAA AVIATION FOUNDATION 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 ASSOCIAITON, 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: CASH SURRENDER VALUE OF LIFE INSURANCE $19,961 INTERCOMPANY ALLOCATION 47,518 TOTAL $67,479 REVENUES ON LINE 1 NOT FORM 990, PART VIII, LINE 12 SCHEDULE D, PART XII, LINE 2D UNREALIZED CHANGE: CASH SURRENDER VALUE OF LIFE INSURANCE $19,961 EXPENSES FORM 990, PART IX, LINE 25 NOT ON LINE 1 SCHEDULE D, PART XIII, LINE 4B INTERCOMPANY ALLOCATION $47,518 ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 SCHEDULE D, PART X IN JULY 2006, THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES. THE ASSOCIATION AND THE FOUNDATION ADOPTED THE PROVISIONS OF ASC 740 ON MARCH 1, 2009. PREVIOUSLY, THE ASSOCIATION AND FOUNDATION HAD ACCOUNTED FOR TAX CONTINGENCIES IN ACCORDANCE WITH ASC 450, CONTINGENCIES. AS REQUIRED BY THE UNCERTAIN TAX POSITION GUIDANCE IN ASC 740, 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. AT THE ADOPTION DATE, 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 THAT DATE. AS OF FEBRUARY 28, 2010, THE STATUTE OF LIMITATIONS IS NO LONGER OPEN FOR YEARS BEFORE 2007 FOR FEDERAL INCOME TAX PURPOSES. FOR STATE INJCOME TAX PURPOSES, THE STATUTE OF LIMITATIONS IS NO LONGER OPEN FOR YEARS BEFORE 2005. AS OF FEBRUARY 28, 2010, THE FOUNDATION BELIEVES THE GUIDANCE TO HAVE NO EFFECT ON ITS CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, THE GUIDANCE PROVIDES FOR THE RECOGNITION OF INTEREST AND PENALTIES RELATED TO INCOME TAXES. THERE WERE NO INTEREST OR PENALTIES RELATED TO INCOME TAX THAT HAVE BEEN ACCRUED OR RECOGNIZED AS OF AND FOR THE YEAR ENDED FEBRUARY 28, 2010. ENDOWMENT FUNDS SCHEDULE D, PART V THE CURRENT YEAR AMOUNT REPORTED ON LINE 1E INCLUDES CURRENT YEAR EXPENDITURES OF $196,990 AND AN ADJUSTMENT TO PRIOR YEAR REPORTING OF $18,187,477 AS THE PRIOR YEAR ENDOWMENT BALANCE INCLUDED ALL INVESTMENTS VERSUS THOSE RESTRICTED THROUGH ENDOWMENT. true EXPERIMENTAL AIRCRAFT ASSOCIATION INC 3000 POBEREZNY ROAD OSHKOSH WI 54902 390917537 501(c)(3) 1039708 GRANT-SEE FORM 990, PART III, LINE 4A. 1 0 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. X 1 27500 EXPERT OPINIONS false true true USE OF THIRD PARTY PART I, 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 6 VOTING MEMBERS TO BE INDEPENDENT. THOMAS POBEREZNY IS NOT INDEPENDENT AS HE SERVES ON THE BOARD FOR BOTH EAA AVIATION FOUNDATION, INC. AND EXPERIMENTAL AIRCRAFT ASSOCIATION. TOM IS INDIRECTLY COMPENSATED THROUGH SALARY REIMBURSEMENT BY EXPERIMENTAL AIRCRAFT ASSOCIATION. HOWEVER, EAA AVIATION FOUNDATION AND EXPERIMENTAL AIRCRAFT ASSOCIATION DO NOT MEET THE TECHNICAL DEFINITION OF RELATED ORGANIZATION. DELEGATION OF CONTROL OVER MANAGEMENT DUTIES FORM 990, PART VI, LINE 3 EXPERIMENTAL AIRCRAFT ASSOCIATION, INC. STAFF MANAGES THE DAY TO DAY ACTIVITY OF EAA AVIATION FOUNDATION. 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 AN AFFILIATED 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 DIRECTORS. IT WAS REVIEWED VIA TELECONFERENCE ON JANUARY 13, 2011 WITH THE DIRECTORS, 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 DIRECTORS NOR DOES IT HAVE ANY EMPLOYEES. 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. PROCESSES FOR OVERSIGHT OF AUDIT OF FINANCIAL STATEMENTS FORM 990, PART XI, LINE 2C THE BOARD OF DIRECTORS OF THE EAA AVIATION FOUNDATION HAS RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS. THE PROCESS FOR THE SELECTION OF THE ORGANIZATION'S INDEPENDENT ACCOUNTANT DID NOT CHANGE FOR THE REPORTING YEAR.