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Topflight Aviation INC FY2022 filing

Not tax-deductible

Franklin, TN501(c)(7)Recreation & Sports EIN 83-4140967Revenue $214K in FY2022Latest return filed Apr 22, 2026

On file with the IRS301 Public Sq, 37064-2526 · Franklin, TNTax-exempt since Nov 2019

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Aviation Flying Club for Members only

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $19K a year · 10% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$702K
61% of total assets
Fine: liabilities are 61% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$214K
+5% vs prior year
Spent
$272K
To programs
0%
Net assets
$443K
By yearFY2021–FY2026
Revenue
$214K
FY2022▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2021$204K
FY2022$214K
FY2023$226K
FY2024$176K
FY2025$206K
FY2026$167K
Expenses
$272K
FY2022▲ +53%
Tap a bar for its year
Expenses by fiscal year
FY2021$178K
FY2022$272K
FY2023$245K
FY2024$228K
FY2025$151K
FY2026$236K
Net assets
$443K
FY2022▲ +39%
Tap a bar for its year
Net assets by fiscal year
FY2021$318K
FY2022$443K
FY2023$377K
FY2024$471K
FY2025$552K
FY2026$451K

From the FY2022 Form 990 (year ending February 2022) · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Nov 2019.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Kevin Cullum
Treasurer
$0Pt VII · Sec A
See Topflight Aviation INC executive salaries →

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

Offers flying opportunities and community for aviation enthusiasts.

Questions for Topflight Aviation INC

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Your first name shows with your question. Topflight Aviation INC answers here, for everyone.

1 program · in their own filed words · FY2021
01

The organizations mission is to promote general aviation and local airports throughout middle TN and the US through the use of Club planes in a cost effective sharing platform with members.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$214K
Ln 12
Gifts and grantsLn 1h$214K
Money outPt IX
$272K
Ln 25
Owns and owesPt X
$443K
net assets · Ln 32
Cash and savingsLn 1–2$130K
Total assetsLn 16$1.1M
LiabilitiesLn 26$702K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$214K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Total revenueLn 12$214K
Assets in detailPt X, end of year
CashLn 1$130K
Cash and savings togetherLn 1–2$130K
Other assetsLn 15$1.0M
Total assetsLn 16$1.1M
LiabilitiesLn 26$702K
Net assetsLn 32$443K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderFebruary
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$139K$130K
Total assetsLn 16$1.0M$1.1M
LiabilitiesLn 26$719K$702K
Net assetsLn 32$308K$443K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$785
Information technologyLn 14$300
OccupancyLn 16$27K
InsuranceLn 23$55K
Other expenses (24a–d)Ln 24$189K
Total functional expensesLn 25$272K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 LatestFiled with the IRS Apr 22, 2026 $167K$236K−$69K$451K 990 PDF
FY2025Filed with the IRS Apr 22, 2025 $206K$151K$56K$552K 990 PDF
FY2024Filed with the IRS Apr 22, 2024 $176K$228K−$52K$471K 990 PDF
FY2023Filed with the IRS May 1, 2023 $226K$245K−$19K$377K 990 PDF
FY2022 ViewingFiled with the IRS Aug 29, 2022 $214K$272K−$58K$443K 990 PDF
FY2021Filed with the IRS Aug 22, 2023 $204K$178K$27K$318K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $214,044 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $158,970$214,044
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $45,253$0
I-12 Total revenuePrior year $204,223$214,044
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $177,595$272,171
I-18 Total expensesPrior year $177,595$272,171
I-19 Revenue less expensesPrior year $26,628−$58,127
Part VI · Governance 0 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $214,044 across 9 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$182,972
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$31,072
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$214,044
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$214,044
Part IX · Statement of functional expenses $272,171 across 5 lines filed
IX-13 Office expenses$785
IX-14 Information technology$300
IX-16 Occupancy$26,754
IX-23 Insurance$55,143
IX-24 Other expenses (24a–d)$189,189
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$272,171
Part X · Balance sheet $1,144,710 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $138,617$129,710
X-15 Other assetsStart of year $889,000$1,015,000
X-16 Total assetsStart of year $1,027,617$1,144,710
X-26 Total liabilitiesStart of year $719,476$701,889
X-32 Total net assets or fund balancesStart of year $308,141$442,821
X-33 Total liabilities and net assetsStart of year $1,027,617$1,144,710
Part XI · Reconciliation of net assets $442,821 net assets at year end
XI-1 Total revenue$214,044
XI-2 Total expenses$272,171
XI-3 Revenue less expenses−$58,127
XI-4 Net assets at start of year$308,141
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$192,807
XI-10 Net assets at end of year$442,821

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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