ILM Aerospace Foundation Inc
Nonprofit profile at a glance
- EIN
- 991274952
- IRS 990-EZ coverage
- 2023–2024
- Forms available
- Form 990-EZ 2024
- Location
- Wilmington, NC, USA
- Phone
- 9103414333
- Rating
- 65
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Education N.E.C.
Reported finances
- Revenue
- $37,259
- Expenses
- $16,647
- Assets
- $133,233
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
People named in this filing
- William Cherry (Chairman)
- Lee Williams (Vice Chairman)
- Mary Margaret McEachern (Secretary)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To facilitate aviation education.
What it reported doing in 2024
Cape Fear General Aviation Day is an annual event at held at Wilmington International Airport. Pilots, mechanics, air traffic controllers and aviations enthusiasts enjoy networking, educational presentations, and static displays.
Operating model
- Revenue model
- Donor-supported. 93% of the money available for current operations came from contributions and gifts.
- 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 revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 35
- Transparency & Controls: 100
- Sustainability: 84
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 27.1%; rating input score 27
- Program expense ratio: 48.2%; rating input score 48
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 55.3%; rating input score 92; 92nd percentile among comparable filings
- Total-asset coverage ratio: 8; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 200% per year; rating input score 100; 100th percentile among comparable filings
- Revenue growth: -102% per year; rating input score 0; 2nd percentile among comparable filings
- Asset growth: 16.8% per year; rating input score 100; 83rd percentile among comparable filings
Details
- Where the money goes: 27.1% of revenue deployed · 48.2% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $8K in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 4 filed schedules
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- 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 — Financial Efficiency: Mission deployment rate scored 27/100.
- Moderate — Financial Efficiency: Program expense ratio scored 48/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.