| Return Reference | Explanation |
|---|---|
| FORM 990-EZ, PART I, LINE 16 | EXPENSES ADVERTISING AND PROMOTION 1,620 OFFICE 2,661 INFORMATION TECHNOLOGY 200 INSURANCE 19,257 ADJ -123 FUEL 14,140 MAINTENANCE 4,188 MEMBERSHIPS & DUES 2,371 MISC 963 REGISTRATIONS 409 RENTAL 172 TOWING FEE 796 NON-INVESTMENT DEPRECIATION 47,592 TOTAL 94,246 |
| FORM 990-EZ, PART II, LINE 24 | ACCOUNTS RECEIVABLE 5,779 11,544 TOW PLANE - PAWNEE 310,157 310,157 LESS ACCUMULATED DEPRECIATION 170,815 218,407 TOTAL 145,121 103,294 |
| FORM 990-EZ, PART II, LINE 26 | ACCOUNTS PAYABLE AND ACCRUED EXPENSES 336 0 OTHER LIABILITIES 82,999 82,999 |
| FORM 990-EZ, PART III | MSC IS A NON-PROFIT ORGANIZATION, OPEN TO THE PUBLIC, WHICH FOCUSES ON FLIGHT TRAINING EDUCATION ACTIVITIES. THE PROGRAM SERVICE AND MAJOR OBJECTIVES OF MSC ARE: (A) TO TRAIN STUDENT PILOTS, (B) TO ENABLE MEMBERS WHO HAVE ACHIEVED PILOT LICENSES TO PRACTICE THE SPORT IN A SAFE AND PROFICIENT MANNER, AND (C) TO ENABLE MEMBERS TO HAVE SUFFICIENT ONGOING EXPERIENCE TO MAINTAIN SKILLS AND CURRENCY AS REQUIRED BY THE FEDERAL AVIATION AGENCY. |
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