Greatest Generation Naval Museum

Nonprofit profile at a glance

EIN
823613348
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-PF 2022
Location
Colorado Springs, CO, USA
Phone
7196382900
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
History Museums

Reported finances

Revenue
$840,472
Expenses
$72,707
Assets
$1,005,460
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • WILLIAM KLAERS (PRESIDENT)

Highest reported compensation

  • Mark Earle (Board Member): $69,996 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Greatest Generation is an aerospace museum focusing on World War II aviation. During the Word War II era, America produced a wide variety of cutting-edge fighting aircraft, many of which are little known to the general public. The goal of Greatest Generation is to provide education about these aircraft, the history of military aviation, and the sacrifices that were made for this country by the World War II generation. To that end, it has acquired approximately 16 fully restored World War II aircraft, and historic artifacts representing Air Force, Navy, Marine Corps, and Coast Guard Aviation. This collection has been lent to its supported organization, the National Museum of World War II Aviation, Inc., for public display in its museum. Greatest Generation also provides financial and other support to the National Museum. Lastly, every two years, the collection of Greatest Generation goes on display at the Pikes Peak Regional Air Show.

What it reported doing in 2024

Expenses incurred to maintain the operation assets of the museum, and to provide education about how america was able to produce cutting-edge fighting aircraft during the world war ii era, the history of military aviation, and the sacrafices that were made for this country by the world war ii generation.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 90
  • Accountability: 53
  • Sustainability: 85
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.5%; rating input score 62
  • Program expense ratio: 97.3%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 20%; rating input score 20; 9th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 91.3%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 13.83; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 62.5% of revenue deployed · 97.3% of spending went to programs
  • Governance: 1 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $71K in reported program spending
  • Leadership: top reported pay $70K · 5 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 20/100.