Flying Pigs INC FY2024 filing

Not tax-deductible

Valley Center, KS501(c)(7)Since 2022Recreation & SportsEIN 88-0659731Revenue $402K in FY2024

On file with the IRSflyingpigs.club2901 E 101st St N, 67147-9165 · Valley Center, KSTax-exempt since Sep 2022

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The objective of the Flying Pigs Flying club (fpfc) is to provide access to graduate level aircraft between the 100-500 thousand dollar range and to provide an aviation service to pilots and prospective pilots within the greater wichita area.

Mission: Form 990 Part I, line 1

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FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $24K a year · 7% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$228K
206% of total assets
Concern: liabilities are 206% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$402K
+38% vs prior year
Spent
$346K
To programs
0%
Net assets
−$117K
By yearFY2022–FY2025
Revenue
$402K
FY2024▲ +38%
Tap a bar for its year
Revenue by fiscal year
FY2022$77K
FY2023$292K
FY2024$402K
FY2025$323K
Expenses
$346K
FY2024▼ -20%
Tap a bar for its year
Expenses by fiscal year
FY2022Not on file
FY2023$431K
FY2024$346K
FY2025$311K
Net assets
−$117K
FY2024▲ +33%
Tap a bar for its year
Net assets by fiscal year
FY2022−$34K
FY2023−$174K
FY2024−$117K
FY2025−$106K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2022.

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

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation
Treasurer/Se
$0Pt VII · Sec A
$0Pt VII · Sec A
See Flying Pigs 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

Offers affordable access to high-end aircraft and aviation services for pilots.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Operations have grown and continue to provide avaition opportunities for the members of the club.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$402K
Ln 12
Fees for servicesLn 2g$163K
Gifts and grantsLn 1h$139K
Other incomeLn 4–11$100K
Money outPt IX
$346K
Ln 25
Owns and owesPt X
−$117K
net assets · Ln 32
Cash and savingsLn 1–2$91K
Total assetsLn 16$111K
LiabilitiesLn 26$228K
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$139K
Fees for servicesLn 2g$163K
Other incomeLn 4–11$100K
Total revenueLn 12$402K
Assets in detailPt X, end of year
CashLn 1$91K
Cash and savings togetherLn 1–2$91K
Total assetsLn 16$111K
LiabilitiesLn 26$228K
Net assetsLn 32−$117K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$36K$91K
Total assetsLn 16$51K$111K
LiabilitiesLn 26$225K$228K
Net assetsLn 32−$174K−$117K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$13K
OccupancyLn 16$96K
InsuranceLn 23$108K
Other expenses (24a–d)Ln 24$129K
Total functional expensesLn 25$346K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $323K$311K$11K−$106K 990 PDF
FY2024 Viewing $402K$346K$57K−$117K 990 PDF
FY2023 $292K$431K−$139K−$174K 990 PDF
FY2022 $77K−$34K 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 FY2024 990 (6 parts)
Part I · Summary $402,285 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $103,673$138,886
I-9 Program service revenuePrior year $106,868$163,416
I-10 Investment income$0
I-11 Other revenuePrior year $81,484$99,983
I-12 Total revenuePrior year $292,025$402,285
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 $430,953$345,657
I-18 Total expensesPrior year $430,953$345,657
I-19 Revenue less expensesPrior year −$138,928$56,628
Part VI · Governance 0 of 2 board members independent, 4 to look at
VI-1a Voting members of the governing body2
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 $402,285 across 5 lines filed
VIII-1b Membership dues$138,886
VIII-1h Total contributions, gifts and grants$138,886
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $163,416$163,416
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $99,983$99,983
VIII-12 Total revenueRelated to mission $99,983 · Excluded from tax $163,416$402,285
Part IX · Statement of functional expenses $345,657 across 4 lines filed
IX-13 Office expenses$12,752
IX-16 Occupancy$96,000
IX-23 Insurance$108,000
IX-24 Other expenses (24a–d)$128,905
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$345,657
Part X · Balance sheet $110,667 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $36,014$90,596
X-4 Accounts receivableStart of year $14,466$19,266
X-9 Prepaid expenses and deferred chargesStart of year $805$805
X-16 Total assetsStart of year $51,285$110,667
X-17 Accounts payable and accrued expensesStart of year $225,189$227,943
X-26 Total liabilitiesStart of year $225,189$227,943
X-27 Net assets without donor restrictionsStart of year −$173,904−$117,276
X-32 Total net assets or fund balancesStart of year −$173,904−$117,276
X-33 Total liabilities and net assetsStart of year $51,285$110,667
Part XI · Reconciliation of net assets −$117,276 net assets at year end
XI-1 Total revenue$402,285
XI-2 Total expenses$345,657
XI-3 Revenue less expenses$56,628
XI-4 Net assets at start of year−$173,904
XI-10 Net assets at end of year−$117,276

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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