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

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. EXPENSES Program Expenses 10,303,551 7,928,769 AirVenture Expenses 7,831,172 6,748,899 Publishing and member services 8,399,343 8,200,374 Management and general 5,837,129 5,952,376 Cost of merchandise Sales 1,944,778 2,166,592 Fund raising 2,460,826 1,863,171 Assets released from restriction 4,551,345 4,551,345 2,098,885 Other 0 ( 2,000)

Total Expenses 36,776,799 4,551,345 0 41,328,144 34,957,066 Change in net assets ( 4,387,872) 446,152 ( 3,269,858) ( 7,211,578) 1,710,778 Beginning of year 39,099,859 1,484,154 13,564,989 54,149,002 52,438,224 End of year 34,711,987 1,930,306 10,295,131 46,937,424 54,149,002

10,303,551 7,831,172 8,399,343 5,837,129 1,944,778 2,460,826

Consolidated Statement of Financial Position

February 28, 2009

3%

February 29, 2008

ASSETS

Current assets

Pledges receivable less current portion Investments

Property and equipment

Less accumulated depreciation

Net property and equipment

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

4,945,492 125,945

17,162,051

46,888,009 (29,157,774) 17,730,235

4,352,946 10,406,188 6,342,139 61,064,996

5,368,945 129,641

25,631,321 45,676,092

(27,986,581) 17,689,511

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

Total liabilities and net assets

34,711,987

1,930,306

10,295,131

46,937,424

61,064,996

39,099,859

1,484,154

13,564,989

54,149,002

65,896,147

EXPENSES In Millions

Direct Programs ....................... $16.689

Marketing ................................. $3.219

Operations and Administration....$9.996

Human Resources ...................... $2.172