The Cessna 150-152 International Fly-In (AKA the Confab in the Corn) has grown from a simple gathering to an annual event requiring months of time and effort to organize and run. The Cessna 150-152 Fly-In Foundation was formed in 2009, with its sole purpose to organize, plan, and run the annual Cessna 150-152 Fly-In.
The Cessna 150-152 Fly-In Foundation is registered in the state of Illinois under Section 501(c)(3) of the Internal Revenue Code as a non-profit charitable organization. All donations to the Cessna 150-152 Fly-In Foundation are tax deductable.
Although the Foundation is a non-profit organization, that does not mean the Foundation has to operate at a loss, or have zero dollars in the bank at the end of the year. Just like any other business, the Foundation can have a running profit - indeed, it must have a running profit in order to remain a viable and growing concern. In a company run for profit, the profits are usually divided up among the owners. There are no owners of the Foundation and all profits are put towards future events or other matters that further the Foundation's goals.
