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Valiant Air Command INC FY2021 filing

Tax-deductible

Titusville, FL501(c)(3)EIN 59-1773787

Make general public aware of military and civilian heritage through air shows, museum, and restoration of vintage aircraft.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $308K a year · 28% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
22 mo
of spending, in cash
Looks good: 22.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$587K
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$899K
-17% vs prior year
Spent
$844K
To programs
91%
Net assets
$2.2M
By yearFY2020–FY2024
Revenue
$899K
FY2021▼ -17%
Revenue by fiscal year
FY2020$1.1M
FY2021$899K
FY2022$820K
FY2023$1.1M
FY2024$1.6M
Expenses
$844K
FY2021▲ +50%
Expenses by fiscal year
FY2020$562K
FY2021$844K
FY2022$845K
FY2023$867K
FY2024$830K
Net assets
$2.2M
FY2021▲ +3%
Net assets by fiscal year
FY2020$2.1M
FY2021$2.2M
FY2022$2.2M
FY2023$2.4M
FY2024$3.2M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1980.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $767K Management & general 9% · $77K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Marvin Juhl
Director
$0Pt VII · Sec A
Leigh Lewis
Director
$0Pt VII · Sec A
David Shore
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Valiant Air Command INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Showcases military and civilian heritage through air shows, museums, and vintage aircraft restoration.

Provided by the organization

This section is blank until Valiant Air Command INC claims this page.

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2 program services account for $767K of program spending, described in the organization's own filed words · FY2021.
01

This is the museum, facility and restoration for nonprofit.

$596Kprogram expense
02

Once a year aviation show is put on for the public.

$171Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Network for Good INCFY2024$7K
Total grants receivedfrom 1 funder$7K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$899K
Ln 12
Other incomeLn 4–11$492K
Investment incomeLn 3$218K
Gifts and grantsLn 1h$124K
Money outPt IX
$844K
Ln 25
Programscol B$767K
Managementcol C$77K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$2.8M
LiabilitiesLn 26$587K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$124K
Government grantsLn 1e$68K
Fees for servicesLn 2g$65K
Investment incomeLn 3$218K
Other incomeLn 4–11$492K
Gains on assetsLn 7$206K
Total revenueLn 12$899K
Assets in detailPt X, end of year
CashLn 1$1.6M
Cash and savings togetherLn 1–2$1.6M
Land, buildings, equipmentLn 10c$1.1M
Other assetsLn 15$623
Total assetsLn 16$2.8M
LiabilitiesLn 26$587K
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 511
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.1M$1.6M
Land, buildings, equipmentLn 10c$1.2M$1.1M
Total assetsLn 16$2.4M$2.8M
LiabilitiesLn 26$314K$587K
Net assetsLn 32$2.1M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$13K$6K$6K
Accounting feesLn 11c$7K$4K$4K
Advertising and promotionLn 12$27K$25K$3K
Office expensesLn 13$66K$60K$7K
OccupancyLn 16$47K$42K$5K
InterestLn 20$5K$5K$502
Depreciation, depletion and amortizationLn 22$190K$171K$19K
InsuranceLn 23$133K$119K$13K
Other expenses (24a–d)Ln 24$317K$300K$17K
All other expensesLn 24e$38K$35K$3K
Total functional expensesLn 25$844K$767K$77K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.6M$830K$749K$3.2M 990 PDF
FY2023 $1.1M$867K$245K$2.4M 990 PDF
FY2022 $820K$845K−$24K$2.2M 990 PDF
FY2021 Viewing $899K$844K$55K$2.2M 990 PDF
FY2020 $1.1M$562K$516K$2.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $898,999 across 9 lines filed
Lines not itemized here account for $30,313 of total revenue; see the IRS return.
VIII-1b Membership dues$31,342
VIII-1e Government grants$67,538
VIII-1f All other contributions, gifts and grants$24,814
VIII-1h Total contributions, gifts and grants$123,694
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $65,260$65,260
VIII-3 Investment incomeRelated to mission $11,878$11,878
VIII-7 Net gain or loss on sales of assetsRelated to mission $206,410$206,410
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $461,444$461,444
VIII-12 Total revenueRelated to mission $775,305$898,999
Part IX · Statement of functional expenses $843,754 across 10 lines filed
IX-7 Other salaries and wagesPrograms $6,369 · Management $6,370$12,739
IX-11c Accounting feesPrograms $3,695 · Management $3,695$7,390
IX-12 Advertising and promotionPrograms $24,700 · Management $2,744$27,444
IX-13 Office expensesPrograms $59,796 · Management $6,644$66,440
IX-16 OccupancyPrograms $42,015 · Management $4,667$46,682
IX-20 InterestPrograms $4,520 · Management $502$5,022
IX-22 Depreciation, depletion and amortizationPrograms $171,421 · Management $19,047$190,468
IX-23 InsurancePrograms $119,272 · Management $13,253$132,525
IX-24 Other expenses (24a–d)Programs $299,985 · Management $17,037$317,022
IX-24e All other expensesPrograms $35,462 · Management $2,560$38,022
IX-25 Total functional expensesPrograms $767,235 · Management $76,519 · Fundraising $0$843,754
Part X · Balance sheet $2,774,756 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,124,964$1,569,881
X-8 Inventories for sale or useStart of year $79,374$79,374
X-10c Land, buildings and equipment, netStart of year $1,171,402$1,124,878
X-15 Other assetsStart of year $623$623
X-16 Total assetsStart of year $2,446,454$2,774,756
X-17 Accounts payable and accrued expensesStart of year $1,009$6,614
X-25 Other liabilitiesStart of year $312,751$580,203
X-26 Total liabilitiesStart of year $313,760$586,817
X-27 Net assets without donor restrictionsStart of year $2,132,694$2,187,939
X-32 Total net assets or fund balancesStart of year $2,132,694$2,187,939
X-33 Total liabilities and net assetsStart of year $2,446,454$2,774,756
Part XI · Reconciliation of net assets $2,187,939 net assets at year end
XI-1 Total revenue$898,999
XI-2 Total expenses$843,754
XI-3 Revenue less expenses$55,245
XI-4 Net assets at start of year$2,132,694
XI-10 Net assets at end of year$2,187,939

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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