Pgm Aviation Inc

Nonprofit profile at a glance

EIN
851648053
IRS 990-EZ coverage
2021–2024
Forms available
Form 990 2023, Form 990-EZ 2024, Form 990-N 2020
Location
Haltom City, TX, USA
Phone
2396330077
Rating
92
Verdict
STRONG
Rating confidence
Moderate
Sector
History Museums

Reported finances

Revenue
$99,774
Expenses
$126,807
Assets
$128,808
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JUDSON GARY CHENOWETH (PRESIDENT)
  • JR HOFFMAN (VICE PRESIDENT)

People named in this filing

  • JUDSON GARY CHENOWETH (PRESIDENT)
  • JR HOFFMAN (VICE PRESIDENT)
  • TERRY CARBONELL (SECRETARY/TREASURER)

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 restore and fly historic aircraft at airshows around the country to highlight the history and sacrifice of the servicemen who flew and serviced them.

What it reported doing in 2024

Our main efforts have been with the douglas b-26k/a-26a, which was a type used during the vietnam conflict of the 1960s. This aircraft is the last survivor of its kind that is still airworthy. It will be used to bring attention to a highly classified mission conducted at night over laos to interdict supply convoys coming from north vietnam to the south via the infamous ho chi minh trail. The success of the 609th special operations squadron could not be publicized at the time until it was declassified in 1992. We want to bring this history to airshows so that younger americans will realize what it takes to defend our democracy and honor those who sacrificed so much in the way of blood, sweat and tears.our programs are centered around the care of two leased aircraft: the a-26 and the t-33, first air jet trainer of the us airforce in 1948. These are restored and maintained in better than new condition. They are then displayed in the vintage flying museum in fort worth, Texas, and at airshows across the country. We provide maintenance instruction opportunities for young students to learn the mechanic trade as well as giving a scholarship to one toward the completion of a&p school to become a faa certified mechanic.

Operating model

Revenue model
Donor-supported. 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 100
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.4%; rating input score 98

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: -27.1%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 47; 47th 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: -0.3% per year; rating input score 0; 47th percentile among comparable filings
  • Revenue growth: -0.2% per year; rating input score 0; 50th percentile among comparable filings
  • Asset growth: 56.3% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $125K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2021 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.