Vaughn College Of Aeronautics And Technology
- Assets
- $90.8m
- Revenue
- $40.7m
- Investments
- $880.5k
- Employees
- 478
- Location
- Flushing, NY
- Founding
- 10/1964
- Data as of
- 08/2023
- EIN
- 11-0461385
Organization Overview
Vaughn College Of Aeronautics And Technology is located in Flushing, NY. The organization was established in 1964. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 08/2023, Vaughn College Of Aeronautics And Technology employed 478 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vaughn College Of Aeronautics And Technology is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2023, Vaughn College Of Aeronautics And Technology generated $40.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $43.6m during the year ending 08/2023. While expenses have increased by 0.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CHANGE THE WORLD ONE STUDENT AT A TIME WITH A TRANSFORMATIONAL EDUCATION THAT CREATES A LIFETIME OF OPPORTUNITY.
Describe the Organization's Program Activity:
INSTRUCTION - VAUGHN IS A FOUR YEAR PRIVATE EDUCATIONAL INSTITUTION OFFERING BACHELOR AND ASSOCIATE DEGREES IN ENGINEERING AND TECHNOLOGY, AVIATION AND MANAGEMENT. THE INSTITUTION ALSO OFFERS A MASTER OF SCIENCE IN AIRPORT MANAGEMENT. THE COLLEGE PROVIDES EDUCATIONAL SERVICES TO OVER 1,100 STUDENTS. THE INSTRUCTIONAL SERVICES ARE SUPPORTED AND ENHANCED BY EFFORTS IN THE ACADEMIC SUPPORT, STUDENT SUPPORT AND INSTITUTIONAL SUPPORT AREAS.
AUXILIARY SERVICES - VAUGHN OPERATES A 194 BED RESIDENCE HALL TO PROVIDE ON CAMPUS HOUSING FOR OUR STUDENTS. IN FISCAL YEAR 2022/2023 APPROXIMATELY 110 STUDENTS WERE LIVING IN THE RESIDENCE HALL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Sharon Devivo President | OfficerTrustee | 35 | $400,575 |
Peter A Vaughn Chair | OfficerTrustee | 1 | $0 |
Oswin Moore Vice Chair | OfficerTrustee | 1 | $0 |
Lysa C Leiponis Secretary | OfficerTrustee | 1 | $0 |
Mary Ward-Callan Treasurer | OfficerTrustee | 1 | $0 |
Patty Clark Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Heritage Flight Academy Flight Training | 8/30/23 | $1,093,701 |
Bond Schoeneck & King Pllc Legal Services | 8/30/23 | $100,633 |
Wrd Consulting Group Llc Grant Consulting | 8/30/23 | $104,982 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $394,100 |
| Related organizations | $0 |
| Government grants | $4,481,407 |
| All other contributions, gifts, grants, and similar amounts not included above | $409,987 |
| Noncash contributions included in lines 1a–1f | $168,129 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,285,494 |
| Total Program Service Revenue | $30,106,829 |
| Investment income | $474,332 |
| Tax Exempt Bond Proceeds | $196,077 |
| Royalties | $0 |
| Net Rental Income | $18,000 |
| Net Gain/Loss on Asset Sales | $4,544,779 |
| Net Income from Fundraising Events | -$25,166 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,693,540 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,228,061 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,248,370 |
| Compensation of current officers, directors, key employees. | $230,650 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,836,167 |
| Pension plan accruals and contributions | $138,073 |
| Other employee benefits | $1,698,216 |
| Payroll taxes | $1,172,197 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $129,273 |
| Fees for services: Accounting | $113,492 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,711 |
| Fees for services: Other | $3,956,618 |
| Advertising and promotion | $1,604,544 |
| Office expenses | $781,131 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,595,134 |
| Travel | $350,415 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $56,690 |
| Interest | $3,200,480 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,098,564 |
| Insurance | $409,871 |
| All other expenses | $2,218,623 |
| Total functional expenses | $43,562,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $546,731 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,227,484 |
| Accounts receivable, net | $662,245 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $652,874 |
| Net Land, buildings, and equipment | $57,298,571 |
| Investments—publicly traded securities | $23,736,027 |
| Investments—other securities | $880,512 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,836,663 |
| Total assets | $90,841,107 |
| Accounts payable and accrued expenses | $2,928,978 |
| Grants payable | $0 |
| Deferred revenue | $2,062,361 |
| Tax-exempt bond liabilities | $46,986,019 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,600,969 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $114,000 |
| Total liabilities | $60,692,327 |
| Net assets without donor restrictions | $24,761,674 |
| Net assets with donor restrictions | $5,387,106 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $90,841,107 |