Air Spacers INC

Santa Monica, CA · Mutual-benefit / member-serving

! Not tax-deductible
Revenue
$347K
-1% vs prior year
Spent
$241K
To programs
99%
Net assets
$759K
By yearFY2020–FY2024
Revenue
$347K
FY2024▼ -1%
Revenue by fiscal year
FY2020$339K
FY2021$360K
FY2022$350K
FY2023$352K
FY2024$347K
Expenses
$241K
FY2024▼ -29%
Expenses by fiscal year
FY2020$341K
FY2021$308K
FY2022$281K
FY2023$337K
FY2024$241K
Net assets
$759K
FY2024▲ +24%
Net assets by fiscal year
FY2020$461K
FY2021$522K
FY2022$576K
FY2023$612K
FY2024$759K

From the FY2024 Form 990 · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
No
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CAir Spacers INC
EINHdr · item D95-2599720
Exempt statusHdr · item I501(c)(7) · active
Ruling yearIRS BMFMay 1970
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CSanta Monica, CA
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.airspacers.com

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.99
Program services99%$239K
Total functional expensesLn 25$241K

Financial health

Is it on solid ground?

Surplus margin
+31%
revenue over expenses, this year▲ +655% vs prior filing year
Program spending
99%
of expenses reach programs▼ -0.6% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$1.1M
FY2024▲ +14%
Total assets by fiscal year
FY2020$681K
FY2021$887K
FY2022$933K
FY2023$945K
FY2024$1.1M
Total liabilities
$320K
FY2024▼ -4%
Total liabilities by fiscal year
FY2020$220K
FY2021$365K
FY2022$357K
FY2023$333K
FY2024$320K
Revenue less expensesPt I · Ln 19$107K
Total assetsPt X · Ln 16$1.1M
Program-expense ratioPt IX · col B99%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Balance Sheet

Part X · end of year
CashLn 1$175K
Total assetsLn 16$1.1M
Total liabilitiesLn 26$320K
Total net assetsLn 32$759K
Months of cash on handcomputed8.7

Statement of Revenue

Part VIII
Program service revenue100%$347K
Investment income$13
Total revenueLn 12$347K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $175K · Operating expenses/yr $241K
8.7 months
Where the money goes
Program services
Program services $239K · Total expenses $241K
99%
Management & General
Management & general $0 · Total expenses $241K
0%
Fundraising
Fundraising $0 · Total expenses $241K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $347K
0%
Government reliance
Government grants — · Total revenue $347K
—
Earned-income share
Program service revenue $347K · Total revenue $347K
100%
Investment reliance
Investment income $13 · Total revenue $347K
<0.01%
Program self-sufficiency
Program service revenue $347K · Total expenses $241K
144%
Growth & trend
Revenue growth (YoY)
This year $347K · Prior year $352K
-1%
Revenue CAGR
FY2020 $339K · FY2024 $347K
+0.6%
Net-asset trend (YoY)
End of year $759K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $347K · Expenses $241K
+31%
Liabilities-to-Assets
Total liabilities — · Total assets $1.1M
—
Net-asset ratio
Net assets $759K · Total assets $1.1M
70%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.1M
0%
People & payroll
Highest Reported Total Compensation
Individual Matt Schultz · Reported title President · Highest reported compensation $0 · Total expenses $241K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $241K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 99%——
Overhead ratio 0%——
Revenue growth -1%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 0.6%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Safety Chairman
$0Pt VII · Sec A
Maint Chairman
$0Pt VII · Sec A
Member Chair
$0Pt VII · Sec A
See Air Spacers INC executive salaries →

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Governance & Policies

Part VI
  • 7Voting board membersPt VI · Ln 1a
  • 7Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Provides affordable aircraft access and flight training for members.

Provided by the organization

This section is blank until Air Spacers INC claims this page.

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Mission & Programs · Part III

Where the work happens

2 program services, described in the organization's own filed words · FY2024.
01

Flying club of equal pro-rata shareholder members operating single engine aircrafts and enabling flight currency, proficiency and training to members at reasonable costs through mutual ownership.

Pt IX · col B
02

Provides back-up aircraft for emergency government needs such as disaster relief, transportation of officials, medical needs, etc.

Pt IX · col B

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest Viewing $347K$241K-1% 990 PDF
FY2023 $352K$337K+0.5% 990 PDF
FY2022 $350K$281K-3% 990 PDF
FY2021 $360K$308K+6% 990 PDF
FY2020 $339K$341K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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