EXPERIMENTAL AIRCRAFT ASSOCIATION, INC. AND EAA AVIATION FOUNDATION, INC.
Consolidated Statement of Activities for the Years Ended
REVENUES, GAINS
AND OTHER SUPPORT
Membership dues and subscriptions
Admissions and registrations
Investment Income (loss)
Merchandise sales
Advertising and sponsorship
Rental income
Donations
Donated services
Commissions and royalties
Assets released from restriction
Other
Total revenues, gains
and other support
Unrestricted
6,227,621
8,787,526
( 5,655,803)
2,293,091
4,789,948
3,649,317
5,786,853
470,000
1,081, 124
4,551,345
407,905
February 28, 2009
Temporarily Permanently
Restricted Restricted
679,896
( 3,412,936)
4,317,601
143,078
Consolidated
6,227,621
8,787,526
( 8,388,843)
2,293,091
4,789,948
3,649,317
10,247,532
470,000
1,081, 124
4,551,345
407,905
February 29,
2008
6,444,930
8,631,173
277,561
2,359,888
4,810,628
3,427,852
6,631,855
460,000
1,068,675
2,098,885
456,397
32,388,927
4,997,497
( 3,269,858)
34, 116,566
36,667,844
EXPENSES
Program Expenses
AirVenture Expenses
Publishing and member services
Management and general
Cost of merchandise Sales
Fund raising
Assets released from restriction
Other
10,303,551
7,831,172
8,399,343
5,837, 129
1,944,778
2,460,826
4,551,345
10,303,551
7,831,172
8,399,343
5,837, 129
1,944,778
2,460,826
4,551,345
0
7,928,769
6,748,899
8,200,374
5,952,376
2,166,592
1,863,171
2,098,885
( 2,000)
Total Expenses
Change in net assets
Beginning of year
End of year
36,776,799
( 4,387,872)
39,099,859
34,711,987
4,551,345
446,152
1,484,154
1,930,306
0
( 3,269,858)
13,564,989
10,295, 131
41,328, 144
( 7,211,578)
54,149,002
46,937,424
34,957,066
1,710,778
52,438,224
54,149,002
This report was compiled from the audit of Experimental Aircraft Association and the EAA Aviation Foundation, Inc. recently completed by Grant Thornton LLP.
Copies of the complete audit report, including footnotes, are available at www.eaa.org.
Consolidated Statement of Financial Position
3%
February 28, 2009
February 29, 2008
ASSETS
Current assets
Pledges receivable less current portion
Investments
Property and equipment
Less accumulated depreciation
Net property and equipment
4,945,492
125,945
17,162,051
46,888,009
( 29,157,774)
17,730,235
5,368,945
129,641
25,631,321
45,676,092
( 27,986,581)
17,689,511
Land
Display aircraft
Other assets
Total assets
LIABILITIES AND NET ASSETS
Current liabilities
Gift annuity liability
Deferred compensation
Long-term debt
Other long-term liabilities
Unearned income less current portion
Net assets
Unrestricted
Temporarily restricted
Permanently restricted
4,352,946
10,406,188
6,342, 139
61,064,996
4,352,946
10,258,596
2,465,187
65,896,147
REVENUE
In Millions
Events......................................... $10.988
Member Dues and Programs ...... $16.732
Development ................................. $2.715
Merchandise ................................. $2.281
Other .............................................. $.967
9,532,734
459,211
1,040,791
1,973, 141
222,505
899,190
9,286,537
537,929
1,181,185
10, 137
-
731,357
34,711,987
1,930,306
10,295, 131
46,937,424
39,099,859
1,484,154
13,564,989
54,149,002
EXPENSES
In Millions
Total liabilities and net assets
61,064,996
65,896,147
Direct Programs ......................... $16.689
Marketing ..................................... $3.219
Operations and Administration..... $9.996
Human Resources ......................... $2.172
