- To acquire, restore, and preserve in flying condition a complete collection of combat aircraft which were flown by all military services of the United States, and selected aircraft of other nations, for the education and enjoyment of present and future generations of Americans.
- To construct or obtain museum buildings for the permanent protection, maintenance, and display of these historic aircraft, period artifacts, and documents as a tribute to the thousands of men and women who built, serviced, and flew them and to build and organize the "Combat Airman Hall of Fame."
- To perpetuate the spirit in which such combat aircraft were flown in the defense of our nation, in the memory and hearts of all Americans.
- To establish an organization having the dedication, enthusiasm, and Esprit de Corps necessary to operate, maintain, and preserve these aircraft as symbols of our American Military Aviation Heritage.
- To receive gifts, legacies, and grants of money and property of every kind and to administer the same for the purposes herein stated, and to do anything necessary or proper for the accomplishment of these purposes; to lease, purchase, hold, have, use, and take possession of and enjoy fee simple or otherwise any personal and real property necessary for the uses and purposes of the corporations; and to sell, lease, alienate, or dispose of the same at the pleasure of the corporation and for the uses and purposes for which said corporation is formed; and to buy and sell real or personal property and to apply the proceeds of sale, including any and all income, to the uses and purposes of the corporation.