For what it's worth...

Ok, the condition of this bird is pretty rough, but it is restorable. You would however need to have a considerable amount of skill and knowledge to do it properly in order for it to be a safe plane to fly.

My recommendation is to go ahead and restore this plane, but to use this as an exercise of "how to" : rehinge, replace damaged wood areas, using different types of adhesives, covering, etc... with the intention of not flying but for display. You have an opportunity here to see how things are done, acquiring the necessary tools to get the job(s) done, and more importantly to find out how enjoyable it is to build (and fly) a model plane.

Find a RC club nearby, find out who in the club builds. Ask if they could look at the plane and prioritize what needs to be done as well as giving you the guidance that you need. Good luck and have fun with this opportunity...