Michigan Council for Arts and Cultural Affairs FY 2015 $1,400,376 $594,439 $1,994,815 -$96 $2,177,308 $4,172,027 $4,172,027

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1 Michigan Council for Arts and Cultural Affairs Funder Report Organization Information Organization name: Kalamazoo Aviation History Museum dba and Legacy Foundation City: State: County: NISP Discipline: NISP Institution: Portage MI Kalamazoo 6 - Design Arts 9 - Other Museum NTEE: A54 - History Museums Applicant is audited or reviewed by an independent accounting firm. Federal ID # Year organization founded: Organization type: Fiscal year end date: DUNS # Full-time staff: Paid FTEs: (c) nonprofit organization A display value of - signifies a value of less than +/-. Unrestricted Activity Unrestricted Operating Revenue Earned Program Earned Non-program Earned Revenue Investment Revenue Contributed Revenue Unrestricted Operating Revenue Less in-kind Unrestricted Operating Revenue Less In-kind $,4,76 $594,49 $,994,85 -$96 $2,77,8 $4,72,27 $4,72,27 $,469,55 $7,88 $2,7,88 -$98,657 $2,25,62 $4,24,9 $4,24,9 8% -2,668% $,574,92 $562,4 $2,6,49 $7,262 $2,92,58 $5,65,26 ($82,) $4,88, Expenses by Functional Program Fundraising General & Administrative Operating Expenses Less in-kind Operating Expenses Less In-kind $,8,87 $88,6 $,994,2 $87,5 $84,9 - $4,229,57 $7,245 $828,92 $5,95,8 ($82,) $5,,8 6% 5 - Net Unrestricted Activity - Operating Net Unrestricted Activity - Non-operating Net Unrestricted Activity Net Temporarily Restricted Activity Net Permanently Restricted Activity Net Activity -$58,826 -$58,826 -$69,95 -$,28,22 -$6,729 -$6,729 $6,6 -$484,42-6% -6% 5 -$29,745 -$29,745 $5,584,474 78% 78% 4,8,25 Page of 9

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3 Revenue Details Operating Revenue Earned - Program Unrestricted Temporarily Restricted Permanently Restricted Membership revenue $26,244 $8,29 $2,298 $2,298 Admissions $955,24 $967,877 $97,78 $97,78 Tuitions and registration fees $8,968 $8,644 $69, $69, Other program revenue earned - program $4 $,4,76 $,469,55 $,574,92 $,574,92 Earned - Non-program Food and concessions $2,8 $9,9 $,6 $,6 Gift shop and merchandise fees $42,96 $25,66 $58,98 $58,98 Sponsorship revenue $74, $6,775 $5,572 $5,572 Space rentals Other earned revenue earned - non-program $2, $, $594,49 $2, $26,492 $7,88 $4,92 $5,949 $562,4 $4,92 $5,949 $562,4 earned revenue $,994,85 $2,7,88 $2,6,49 $2,6,49 Page of 9

4 Contributed Unrestricted Temporarily Restricted Permanently Restricted Trustee & board $65,625 $94,569 $6, $54, $6, Individual $44,44 $9,8 $292,246 $26,294 $75,952 Corporate $,968 $9,44 $9,44 Foundation $7,74 $65,262 $,449 $42,5 $59,4 State government $56, $94, $,5 $92,95 In-kind operating contributions $82, $82, Net assets released from restriction $2,6,72 -$2,6,72 contributed revenue $25,776 $5,664 $849,72 $2,92,58 -$2,72,6 Operating investment revenue $,62,4 $,95,47 $7,79,87 $7,262 $7,786,555 operating revenue $,562,62 $4,44,99 $,779,482 $5,65,26 operating revenue less in-kind $,562,62 $4,44,99 $,597,482 $4,88,26 non-operating revenue revenue $,562,62 $4,44,99 $,779,482 $5,65,26 revenue less in-kind $,562,62 $4,44,99 $,597,482 $4,88,26 Page 4 of 9

5 Expense Details Personnel expenses - Operating % Change % Change Program Fundraising General & Administrative W2 employees (salaries, payroll taxes and fringe benefits) $,842,89 $,929,66 $2,8,58 8% $,5,878 $2, $69,99 Professional fees personnel expenses - Operating Non-personnel expenses - Operating $57,94 $2,2,2 $2,84 $2,26,55 - $2,8,58-8% $,5,878 $2, $69,99 Advertising and promotion $22,7 $7,69 $49,45 $49,45 Conferences and meetings $4,5 $8,95 $28,27 2 $,29 $6 $6,74 Dues and subscriptions $9,8 $8,95 - $,9 $6,9 $,72 $2,8 Insurance $8,72 $2,49 $2,8 % $9,7 $29,72 Occupancy costs $54,4 $65,7 $8,52 $7,579 $86,47 Office and administration $5,56 $22,87 - $78,6 7% $4,78 $526 $4,47 Printing, postage and shipping $2,68 $,76 - $,5 $8,45 $,8 $,5 Travel $28,762 $7,22 2 $6,5 - $28,69 $99 $6,972 Exhibition costs $69,594 $77,964 $77,964 Collections management $5,2 $,8 5 $,8 Productions and events costs $64,768 $6,47-2 $86,89 6 $8,8 $,6 Interest expense $,54 $22,657 6% $6,894-2 $6,894 Other operating expenses $227,78 $25,474 - $24,86 - $26,58 $5,78 $2,58 Depreciation non-personnel expenses - Operating $898,77 $2,49,65 $97,4 $2,66,272 8% $965, $,,428 $926,429 $2,878,69 $5,942 $8,6 $28,79 operating expenses Non-operating personnel expenses Non-operating non-personnel expenses $5,95,8 $4,229,57 $7,245 $828,92 expenses expenses less in-kind $5,95,8 $5,,8 $4,229,57 $7,245 $828,92 expenses less depreciation $,792,6 $,95,42 $4,229,978 expenses less in-kind and depreciation $,792,6 $,95,42 $4,47,978 Page 5 of 9

6 Balance Sheet Assets Current assets Cash $6,892 $7,698 $76,4 8% Receivables Investments $64,49 -$57,4 $8,75 26% $27,95 58% Prepaid expenses & other $5,929 $74,86 28% $59,99-8% current assets -$2,54 $956,57 55 $,47,84 Non-current investments $44,622,572 $44,289,959 $5,84,98 Fixed assets (net) Other non-current assets non-current assets $,765,56 $8,59,669 $64,447,8 $,578,59 $8,59,669 $62,928, $9,955,55 $8,24,669 $68,28,8-6% assets $64,26,258 $6,884,756 $69,28,72 Liabilities & Net Assets Liabilities Accounts payable & other $49,68 $5,8 - $56,579 6 Loans & other debt Deferred revenue current liabilities $24,286 $47,969 $29,67 $29,28 $76,29 5 $24,76 $7,755-26% Non-current liabilities liabilites $96,59 $87,28 $266,8 $,,5 - $,766 $862,52-5% - Net assets Unrestricted Temporarily restricted Permanently restricted net assets liabilities & net assets $8,7,9 $8,4,896 $6,294,44 $6,66, $64,26,258 $8,,46 $8,457,22 $6,294,44 $62,88,76 $6,884,756 - % $8,,76 $4,7,42 $6,294,44 $68,466,8 $69,28,72 68% Page 6 of 9

7 Balance Sheet Metrics Months of Operating Cash -- Unrestricted working capital -- Unrestricted Current Ratio Debt Service Impact Unrestricted Net Assets Net of Property, Plant and Equipment Operating Margin Depreciation as a % of Fixed Assets Leverage Ratio -$697, % $6,965, $52,95. $7,55,869 -% 4 % $8,698.4 $8,45,65 6% Months of Operating Cash -- Unrestricted represents the number of months an organization can operate at current average monthly expense levels with existing unrestricted cash and cash equivalents. Cash + Cash Equivalents / ( Expense / 2). The ratio is calculated using unrestricted numbers only. working capital -- Unrestricted consists of the resources available for operations, and in this report is calculated as unrestricted current assets minus unrestricted current liabilities. This is a conservative calculation of working capital and may differ from your internal calculations. Adequate working capital provides financial strength and flexibility to your organization, the ability to meet obligations as they come due, and the ability to take more risks, knowing there is a cushion to fall back on. Current Ratio (Current Assets divided by Current Liabilities) determintes the organization's ability to pay current debt using current assets. The higher the ratio, the more capable the organization is of paying its obligations. The ratio is calulated using unrestricted numbers only. Debt Service Impact ( Debt Service including principal and interest divided by Expense) calculates the % of an organization's total expenses applied to the total debt-service burden, e.g. a mortgage). This measure can help understand the portion of the book value of an organization's fixed assets that they truly own free and clear of related obligations and depreciated value. It is calculated as Unrestricted Net Assets - (Net Fixed Assets - Mortgage Debt). Unrestricted Net Assets Net of Property, Plant and Equipment (Unrestricted Net Assets - (Net Fixed Assets - Mortgage Debt)) shows what the organization's unrestricted net assets would be if they did not own any property, or have any debts associated with that property. Because this calculation is based on unrestricted values for net assets and fixed assets, if an organization fills out a single column balance sheet and does not separate fixed assets into restricted and unrestricted categories, this value will be blank. Operating Margin (Change in Net Assets divided by Unrestricted Operating Revenue) is a measurement of the organizations efficiency in operating, highlighting the amount of an organization's surplus or deficit. Depreciation as a % of Fixed Assets indicates the potential need for replacement or repair of fixed assets (such as buildings, furniture, office equipment, sets and props); especially significant for organizations that own a building or carry a long-term lease. Leverage Ratio ( Debt divided by Unrestricted and Temporarily Restricted Assets) is a measurement of a company s efficiency in operating. Page 7 of 9

8 Attendance In-person Participation In-person participation - paid In-person participation - free in-person participation 8,95,749 42,72 2,528 42,85 45,78-6% 2 24,92 28,52 5,42 2-6% Types of In-person Attendance Admissions Registrants for classes/workshops Field trip participants Lecture attendees in-person participation 42,72 5,869 9,844 9,665 45,78 24,294,47 8,52 8 5,42 6% -6% 6% Attendance Ages Children (8 and under) Children served in schools Seniors Adults 65,994 77,26 6,79 2,922 55,9 78,757 6,484,8 6,856 Other Participation Staffing Staff & Non-Staff Statistics Full-time permanent employees Part-time permanent employees Part-time permanent employees - FTEs Number of full-time volunteers Number of part-time or one-time volunteers Part-time or one-time volunteers - FTEs Artistic Staff & Non-Staff Statistics Full-time employees that are artists Part-time employees that are artists % 2 7% Page 8 of 9

9 Program Activity Distinct screenings screenings Permanent exhibits Temporary exhibits Traveling exhibits Objects/works in collection Objects/works on exhibit Distinct classes/workshops Distinct class series/courses classes/class sessions Distinct guided tours guided tour occurrences Distinct field trips Field trip occurrences Distinct lectures Lecture occurrences Programs offered in schools Space - hours rented Distinct publications Publications distributed Distinct other programs Other programs occurrences, , , ,6, , % -4% -2-2 Page 9 of 9