2024-08-14T09:43:54-05:00 2023-09-30 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 900 ORLANDO FL 32801 990 2022-10-01 593679477 AEROSPACE CENTER FOR EXCELLENCE INC FKA FLORIDA AIR MUSEUM INC AERO 8636442431 4075 JAMES C RAY DRIVE LAKELAND FL 33811 TRACY T NEAL CFO 8636442431 2024-08-13 1 1 TINA HENTON P00630282 4078021200 2024-08-13 2022 2024-08-08 14:25:15Z TRACY T NEAL 4075 JAMES C RAY DRIVE LAKELAND FL 33811 1598199 0 X ACEEDU.ORG X 2000 FL TO ENGAGE, EDUCATE, AND ACCELERATE THE NEXT GENERATION OF AEROSPACE PROFESSIONALS. 12 12 55 100 0 0 1942834 1255059 140028 230700 35419 36700 -2751 21184 2115530 1543643 188219 373302 0 0 1755281 1715710 0 0 28566 1188338 2166355 3131838 4255367 -1016308 -2711724 19556496 21929163 8438219 13437366 11118277 8491797 X TO ENGAGE, EDUCATE, AND ACCELERATE THE NEXT GENERATION OF AEROSPACE PROFESSIONALS. 1 0 3870556 373302 256528 THE ACE CAMPUS CONSISTS OF VARIOUS EDUCATIONAL BUILDINGS, INCLUDING THE FLORIDA AIR MUSEUM. ACTIVITIES AT ACE INCLUDE AVIATION SUMMER CAMPS, MUSEUM TOURS, STEM BASED LEARNING LABS AND SCHOOL OUTREACH PROGRAMS, NIGHT AT THE MUSEUM, WINGS N THINGS, FIELD TRIPS, AFTER SCHOOL PROGRAMS AND OTHER VARIOUS EVENTS. 3870556 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 0 0 1 55 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X TRACY T NEAL 8639044014 4175 MEDULLA ROAD LAKELAND FL 33811 RICARDO GARCIA CHAIRMAN 2.00 2.00 X X 0 0 0 ROBERT BEATY VICE-CHAIRMAN 1.00 0.00 X X 0 0 0 ELIZABETH TENNYSON TREASURER 1.00 0.00 X X 0 0 0 JEFF KINCART SECRETARY 1.00 0.00 X X 0 0 0 CHUCK AHEARN DIRECTOR 1.00 0.00 X 0 0 0 ROLAND BETKER DIRECTOR 1.00 1.00 X 0 0 0 CHARLIE GREGOIRE DIRECTOR 1.00 0.00 X 0 0 0 AJ JACKSON DIRECTOR 1.00 0.00 X 0 0 0 BILL TIGER READ DIRECTOR 1.00 1.00 X 0 0 0 DR HARLEY M RICHARDS DDS DIRECTOR 1.00 1.00 X 0 0 0 STEPHEN THOMAS DIRECTOR 1.00 0.00 X 0 0 0 ERIC WASHBURN DIRECTOR 1.00 1.00 X 0 0 0 EUGENE CONRAD PRESIDENT/CEO (AS OF 4/2022) 35.00 15.00 X 163005 0 9823 TRACY NEAL CFO 35.00 15.00 X 121021 0 7554 JOHN LEENHOUTS FORMER PRESIDENT/CEO (THRU 4/2022) 0.00 0.00 X 170274 0 11305 454300 0 28682 4 1 1 0 0 88864 110662 182637 872896 170328 1255059 MEMBERSHIPS/ADMISSIONS 611600 129671 129671 REGISTRATIONS 611600 99378 99378 OTHER EVENT REVENUE 611600 1651 1651 230700 27934 27934 8766 0 8766 8766 8766 29367 88864 34694 -5327 -5327 45690 19862 25828 25828 MISCELLANEOUS INCOME 900099 683 683 683 1543643 256528 0 32056 362750 362750 10552 10552 405004 364505 36449 4050 982680 884412 88441 9827 84260 75833 7585 842 132216 118994 11899 1323 111550 100395 10039 1116 12958 12190 735 33 37283 35073 2115 95 9860 9276 559 25 205080 192926 11634 520 29180 27800 1362 18 105104 83647 20911 546 31532 29663 1789 80 555627 500698 52140 2789 22942 22942 370 294 74 2 720885 648797 72088 152025 136823 13682 1520 IN-KIND EXPENSES 90999 81899 8190 910 FOOD AND BEVERAGE EXPEN 59254 58516 738 PROGRAM EXPENSES 53928 53928 LICENSES AND DUES 20292 10146 10146 59036 48497 6407 4132 4255367 3870556 356245 28566 467322 382548 10173 257792 94170 12237 6401 8707 13322 6000 30000 19588408 2160652 17695737 17427756 1159310 1282746 197010 2434428 19556496 21929163 131725 406020 8306494 13031346 8438219 13437366 X 9910625 7207807 1207652 1283990 11118277 8491797 19556496 21929163 -2711724 85244 0 X 0 1 X 1 0 X 397822 2419923 3944571 1942834 1255059 9960209 397822 2419923 3944571 1942834 1255059 9960209 3875322 6084887 26615 14310 13864 17832 27934 100555 68882 4580 43516 32569 30050 179597 10240361 1819395 0.59420 0.52490 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 1109958 17000 3000 1123958 754362 301540 102029 47973 1109958 647828 112290 5756 754362 599767 52794 4733 647828 551305 31218 21610 4366 599767 0.41220 0.58780 0.00000 0 0 16698392 1202394 15495998 445958 170790 275168 2383285 787468 1595817 60773 60773 17427756 NET OPERATING ROU ASSET 2421048 RELATED PARTY RECEIVABLES 13380 2434428 DUE TO ELEVATE AEROSPACE & LOGISTICS INCUBATOR, INC. 43723 DUE TO SUN 'N FUN FLY-IN, INC. 10552027 ROU LEASE LIABILITY 2435596 13031346 X PART V, LINE 4: THE PURPOSE FOR ESTABLISHING EDUCATIONAL ENDOWMENT FUND IS TO STANDARDIZE AND FORMALIZE THE ADMINISTRATION OF CONTRIBUTIONS TO THE EDUCATION FOUNDATION WHICH ARE NOT GENERALLY ASSOCIATED WITH THE ANNUAL OPERATING BUDGET. PART X, LINE 2: THE CENTER IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THESE CONSOLIDATED FINANCIAL STATEMENTS. THE CENTER HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). THE MOST SIGNIFICANT TAX POSITIONS OF THE CENTER ARE ITS ASSERTION THAT IT IS EXEMPT FROM INCOME TAXES AND ITS DETERMINATION OF WHETHER ANY AMOUNTS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT. IT HAS BEEN DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE CENTER'S FORMS 990 FOR 2020 THROUGH 2022 ARE OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AS OF SEPTEMBER 30, 2023. PART III, LINE 1A ARTIFACTS AND COLLECTIONS IN CONFORMITY WITH INDUSTRY PRACTICE, MUSEUM ARTIFACTS PURCHASED AND DONATED ARE NOT RECORDED IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. EVEN THOUGH NOT RECORDED, THE MUSEUM'S ARTIFACTS AND COLLECTIONS REPRESENT ONE OF ITS MOST VALUABLE ASSETS. THE MUSEUM EMPLOYS A FULL-TIME EMPLOYEE TO MANAGE STEWARDSHIP OF THE ARTIFACTS AND COLLECTION, UNDER THE DIRECTION OF THE EXECUTIVE DIRECTOR AND THE BOARD OF DIRECTORS' COLLECTIONS AND ACQUISITIONS POLICY WITH COMMITTEE OVERSIGHT. EACH PIECE IS NUMBERED AND CATALOGUED IN A CONTINUOUS INVENTORY. THE COLLECTION IS NEVER TO BE USED AS A FINANCIAL ASSET FOR THE MUSEUM AND IS MAINTAINED FOR ITS INHERENT ARTISTIC, CULTURAL AND EDUCATIONAL VALUE. THE MUSEUM AT TIMES LOANS MUSEUM ARTIFACTS TO OTHER MUSEUMS FOR DISPLAY PURPOSES. THE BASH 118231 88864 29367 9793 22837 2064 118231 88864 29367 9793 22837 2064 34694 -5327 1 ELEVATE AEROSPACE & LOGISTICS INCUBATOR INC 3985 LAIRD BLVD LAKELAND FL 33811 874082687 501(C)(3) 151699 0 N/A N/A TO COVER PAYROLL AND OPERATING COSTS LAKELAND AEROCLUB INC 3970 JAMES C RAY DRIVE LAKELAND FL 33811 320463941 501(C)(3) 100000 0 N/A N/A OPERATIONAL SUPPORT OF AVIATION CLUB WINTER HAVEN ECONOMIC DEVELOPMENT COUNCIL INC 150 THIRD STREET SW SUITE 206 WINTER HAVEN FL 33880 453154152 501(C)(6) 80938 0 N/A N/A ASSIST SMALL BUSINESSES ASPIRING AVIATORS AERO CLUB 980 CLASSIC VIEW DRIVE AUBURNDALE FL 33830 844775691 501(C)(3) 10000 0 N/A N/A GENERAL SUPPORT CENTRAL FLORIDA AEROSPACE ACADEMY FOUNDATION INC 4075 JAMES C RAY DRIVE LAKELAND FL 33811 270763731 501(C)(3) 20113 0 N/A N/A SCHOLARSHIP REFUNDS FROM POLK STATE 4 1 EDUCATIONAL ASSISTANCE 7 10552 N/A N/A PART I, LINE 2: GRANT EXPENDITURES ARE PROVIDED TO ORGANIZATIONS AS PER AGREEMENTS SIGNED BY THE RECIPIENT AND THE FILING ORGANIZATION. ONCE GRANTS ARE DONATED, NO ADDITIONAL MONITORING IS PERFORMED. THE ORGANIZATION PROVIDES THE CASH AWARDS DIRECTLY TO THE EDUCATIONAL INSTITUTION FOR THE NAMED RECIPIENT. X X X 0 0 0 0 0 0 0 0 0 JOHN LEENHOUTS FORMER PRESIDENT/CEO (THRU 4/2022) 170274 0 0 0 0 0 0 0 11305 0 181579 0 0 0 EUGENE CONRAD PRESIDENT/CEO (AS OF 4/2022) 163005 0 0 0 0 0 0 0 9823 0 172828 0 0 0 PART I, LINE 3 THE BOARD SET THE INITIAL SALARY FOR THE PRES/CEO FOLLOWING REVIEW OF COMPENSATION STUDIES AND APPROVAL BY THE BOARD. ANNUALLY, THE PRES/CEO RECEIVES A COST OF LIVING RAISE ON HIS ANNIVERSARY DATE AS SET FORTH IN THE PRES/CEO'S CONTRACT. X 1 1000 COMPARABLE SALES VALUE X 1 2000 COMPARABLE SALES VALUE X IPAD AIRS 1 63000 COMPARABLE SALES VAL X AUCTION ITEMS 44 53203 COMPARABLE SALES VAL X SIMULATORS 2 46125 COMPARABLE SALES VAL X MISCELLANEOUS ITEMS 6 5000 COMPARABLE SALES VAL 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS. FORM 990, PART III, LINE 2 ACE NOW OFFERS FIELD TRIPS FOR STUDENTS USING OUR STEM LABS AS WELL AS AFTER SCHOOL LEARNING PROGRAMS. FORM 990, PART VI, SECTION A, LINE 1A THE CHAIRMAN OF THE BOARD WILL DESIGNATE ONE OR MORE DIRECTORS TO BE COMMITTEE CHAIRMEN. THE BOARD MAY APPROVE OR APPOINT ANY DIRECTOR OR NON-DIRECTOR AS A MEMBER OF A COMMITTEE. SUCH COMMITTEES SHALL HAVE SUCH FUNCTIONS AND MAY EXERCISE SUCH POWER OF THE BOARD OF DIRECTORS AS CAN BE LAWFULLY DELEGATED AND TO THE EXTENT PROVIDED IN THE RESOLUTIONS CREATING SUCH COMMITTEE OR COMMITTEES. THE TERM OF THE COMMITTEE CHAIRMEN AND ALL MEMBERS OF ALL BOARD COMMITTEES SHALL EXPIRE NO LATER THAN THE DATE OF THE NEXT ANNUAL MEETING OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD REVIEWS AND APPROVES THE FORM 990 PRIOR TO SUBMITTING TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS SHALL DISCLOSE TO THE BOARD ANY INTEREST THAT A DIRECTOR HAS IN A TRANSACTION OR DECISION OF THE BOARD THAT MAY RESULT IN A FINANCIAL BENEFIT OR GAIN TO THEM AND/OR THEIR BUSINESS, FAMILY MEMBERS AND/OR SIGNIFICANT OTHER, EMPLOYER, AND/OR CLOSE ASSOCIATES, AND OTHER NON-PROFIT ORGANIZATIONS WITH WHICH THE DIRECTOR IS AFFILIATED. AFTER DISCLOSURE, NON-AFFECTED DIRECTORS SHALL DETERMINE IF THE CONFLICT IS SIGNIFICANT, REQUIRING THE DIRECTOR TO RECUSE THEMSELF. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRES/CEO OF AEROSPACE CENTER FOR EXCELLENCE, INC. IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS. THE INITIAL SALARY OF THE PRES/CEO WAS DETERMINED FOLLOWING THE BOARD'S REVIEW OF COMPARABLE DATA OF OTHER NONPROFIT CEO SALARIES. IN SUBSEQUENT YEARS, THE CEO RECEIVES A RAISE AS DETERMINED IN THE COMPENSATION CONTRACT THAT WAS APPROVED BY THE BOARD. RESULTS AND RECOMMENDATIONS ARE PRESENTED AND APPROVED DURING THE EXECUTIVE SESSION OF THE BOARD MEETING, WHICH IS DOCUMENTED IN THE MEETING MINUTES. THE INITIAL SALARIES OF OTHER OFFICERS WERE DETERMINED BY COMPARABILITY DATA OF COMPARABLE NONPROFIT DATA AND DISCUSSIONS WITH THE BOARD. IN SUBSEQUENT YEARS, RAISES ARE MADE BY A PERCENTAGE INCREASE AS APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. ACE INSTRUCTIONAL SERVICES LLC 4075 JAMES C RAY DRIVE LAKELAND FL 33811 923760730 DEVELOP, MANAGE AND SELL INSTRUCTIONAL CONTENT AND INSTRUCTIONAL SERVICES FL 0 0 AEROSPACE CENTER FOR EXCELLENCE INC ACE AIRCRAFT HOLDINGS LLC 4075 JAMES C RAY DRIVE LAKELAND FL 33811 923749170 PURCHASE, MANAGE, AND OPERATE AVIATION REAL PROPERTY FL 0 500 AEROSPACE CENTER FOR EXCELLENCE INC SUN 'N FUN FLY-IN INC 4075 JAMES C RAY DRIVE LAKELAND FL 33811 592803958 SHARING THE AVIATION EXPERIENCE WITH PEOPLE OF ALL AGES. FL 501(C)(3) LINE 10 AEROSPACE CENTER FOR EXCELLENCE INC 1 ELEVATE AEROSPACE & LOGISTICS INCUBATOR INC 3985 LAIRD BLVD LAKELAND FL 33811 874082667 ACCELERATE GROWTH OF INDIVIDUALS, BUSINESSES, AND IDEAS IN CENTRAL FLORIDA. FL 501(C)(3) LINE 10 AEROSPACE CENTER FOR EXCELLENCE INC 1 CENTRAL FLORIDA AEROSPACE ACADEMY FOUNDATION INC 4075 JAMES C RAY DRIVE LAKELAND FL 33811 270763731 SUPPORTING STUDENTS IN POLK COUNTY TO ACHIEVE AERSOPACE OPPORTUNITIES. FL 501(C)(3) LINE 7 AEROSPACE CENTER FOR EXCELLENCE INC 1 ACE FLYING CLUB INC 4075 JAMES C RAY DRIVE LAKELAND FL 33811 844300146 A RECREATIONAL FLYING CLUB THAT PROMOTES AN INTEREST IN AVIATION. FL 501(C)(7) AEROSPACE CENTER FOR EXCELLENCE INC 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 ELEVATE AEROSPACE & LOGISTICS INCUBATOR INC B 151699 CASH CENTRAL FLORIDA AEROSPACE ACADEMY FOUNDATION INC B 20113 CASH CENTRAL FLORIDA AEROSPACE ACADEMY FOUNDATION INC C 110662 CASH ELEVATE AEROSPACE & LOGISTICS INCUBATOR INC D 43723 END OF YEAR LOAN BALANCE SUN 'N FUN FLY-IN INC D 10552027 END OF YEAR LOAN BALANCE ACE FLYING CLUB INC D 500 END OF YEAR LOAN BALANCE ELEVATE AEROSPACE & LOGISTICS INCUBATOR INC E 12380 END OF YEAR LOAN BALANCE