First Flight Foundation

KITTY HAWK, NC EIN: 56-1937133

First Flight Foundation is a private foundation focused on Arts, Culture & Humanities, based in KITTY HAWK, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.2M in total assets. In 2024, it awarded 3 grants totaling $4K. Net investment income was $11K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$1.2M

-3.1% YoY

Annual Giving

$4K

Grant Count

Avg Grant Size

$1K

Under IRS private-foundation payout rules, First Flight Foundation reported a distributable amount of $59K for 2024 — the minimum it must pay out in qualifying distributions.

About First Flight Foundation

Based on IRS filings

Focus Areas

Arts, Culture & Humanities

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

North Carolina $2K (50%)

Pennsylvania $1K (25%)

Virginia $1K (25%)

States

North Carolina Pennsylvania Virginia

Cities

LeesburgSpencerStoystown

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$1,178,933	$1,216,853	$1,271,571
Revenue	$21,833	$14,295	$11,866
Expenses	$70,313	$67,003	$66,480
Qualifying Distributions	$52,680	$49,426	$47,861
Net Investment Income	$11,428	$4,862	—
Distributable Amount	$58,548	$60,773	$63,098

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 3 recipients in 2024

Grant Size Distribution

3 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include North Carolina Transportation Museum ($2,000), America's 911 Foundation ($1,000), Friends of Flight 93 ($1,000).

Recipient	Purpose	Amount
NORTH CAROLINA TRANSPORTATION MUSEUM SPENCER, NC	WIND & WINGS OUTREACH	$2,000
AMERICA'S 911 FOUNDATION LEESBURG, VA	MISSION OUTREACH	$1,000
FRIENDS OF FLIGHT 93 STOYSTOWN, PA	HEROES WALK SUPPORT	$1,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
KAREN WARLITNER	EXECUTIVE DIRECTOR	40	$50,000
KEVIN BAKER	PRESIDENT (INCOMING FY24)	3	—
HENRY ISAACSON	PRESIDENT (OUTGOING FY24)	3	—
MIKE MICKEL	VICE PRESIDENT	1	—
AMANDA WRIGHT-LANE	SECRETARY/TREASURER	1	—
LISA LOY	BOARD MEMBER	1	—
JOHN HARRIS	BOARD MEMBER	1	—

Subject Areas

Focus areas based on grantmaking activity

Arts, Culture & Humanities

Frequently Asked Questions

What is First Flight Foundation?

First Flight Foundation is a private foundation focused on Arts, Culture & Humanities, based in KITTY HAWK, NC. It holds $1.2M in total assets as of 2024.

How large is First Flight Foundation?

As of 2024, First Flight Foundation holds $1.2M in total assets with $22K in annual revenue. It awarded 3 grants totaling $4K in 2024.

Where does First Flight Foundation operate?

First Flight Foundation has awarded grants in North Carolina, Pennsylvania, Virginia.

What size grants does First Flight Foundation award?

In 2024, First Flight Foundation awarded 3 grants totaling $4K — an average of about $1K per grant, based on its IRS Form 990 filings.

How much is First Flight Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, First Flight Foundation reported a distributable amount of $59K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.