Vermont Flight Academy Inc
- Assets
- $2.2m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 53
- Location
- South Burlington, VT
- Founding
- 12/2010
- Data as of
- 06/2022
- EIN
- 27-1366959
Organization Overview
Vermont Flight Academy Inc is located in South Burlington, VT. The organization was established in 2010. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Vermont Flight Academy Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vermont Flight Academy Inc 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 06/2022, Vermont Flight Academy Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 11.1% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
VERMONT FLIGHT ACADEMY WAS CREATED TO PROMOTE GENERAL AVIATION THROUGH A PROGRAM OF HIGH QUALITY FLIGHT TRAINING AT A COMPETITIVE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
339 NEW SIGNERS/STUDENTS CAME INTO OUR SYSTEM IN 2020/21. THESE INDIVIDUALS SIGNED UP FOR INDIVIDUAL FLIGHT INSTRUCTION, DISCOVERY FLIGHT LESSONS AND GROUND TRAINING. VFA CONTINUES ITS PARTNERSHIP WITH VERMONT TECHNICAL COLLEGE FOR THE EIGHTH YEAR. STUDENTS ARE GETTING THEIR PRIVATE, INSTRUMENT AND COMMERCIAL LICENSES/ENDORSEMENTS. THERE WERE 39 STUDENTS ENROLLED THIS YEAR THROUGH THE VERMONT TECH PROGRAM. VFA OPERATES 13 AIRCRAFT AND SIMULATORS OF WHICH 10 ARE OWNED DIRECTLY BY VFA. THE OTHER 3 ARE UNDER CONTRACT AND OPERATED FOR BUSINESS PURPOSES UNDER A LEASEBACK ARRANGEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas D'urso Executive Di | Officer | 40 | $55,899 |
Andy Pallito President | OfficerTrustee | 1 | $0 |
Tyler Brown Board Member | Trustee | 1 | $0 |
Katie Clark Board Member | Trustee | 1 | $0 |
Jon Pizzagalli Board Member | Trustee | 1 | $0 |
Lisa Groeneveld Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $175,602 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,602 |
| Total Program Service Revenue | $1,997,463 |
| Investment income | $1,397 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,174,599 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $100,000 |
| Compensation of current officers, directors, key employees. | $100,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $744,515 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $40,045 |
| Payroll taxes | $73,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $62 |
| Fees for services: Accounting | $20,874 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $745 |
| Office expenses | $46,769 |
| Information technology | $21,548 |
| Royalties | $0 |
| Occupancy | $38,399 |
| Travel | $171 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,799 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $165,866 |
| Insurance | $94,006 |
| All other expenses | $19,584 |
| Total functional expenses | $2,000,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $634,351 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $49,325 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $63,266 |
| Prepaid expenses and deferred charges | $26,800 |
| Net Land, buildings, and equipment | $1,374,690 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $36,133 |
| Intangible assets | $0 |
| Other assets | $1,191 |
| Total assets | $2,185,756 |
| Accounts payable and accrued expenses | $79,072 |
| Grants payable | $0 |
| Deferred revenue | $212,583 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $130,648 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $422,303 |
| Net assets without donor restrictions | $1,763,453 |
| Net assets with donor restrictions | $0 |
| 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 | $2,185,756 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Vermont Flight Academy Inc has recieved totaling $10.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $10 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John A Coleman School Yonkers, NY | $5,649,439 | $19,245,814 |
Halo Network Inc Amityville, NY | $5,984,377 | $20,823,404 |
Ascend Learning Inc Brooklyn, NY | $10,949,837 | $20,246,927 |
Pike School Inc Andover, MA | $31,746,911 | $18,230,890 |
Workforce Development Corp New York, NY | $20,852,099 | $12,566,315 |
International School Of Brooklyn Brooklyn, NY | $6,521,944 | $15,095,239 |
Watershed Agricultural Council Of The New York City Watersheds Inc Walton, NY | $8,601,609 | $14,819,769 |
North Atlantic States Carpenters Labor Management Program Boston, MA | $29,841,142 | $12,688,057 |
Purpose Foundation Island Park, NY | $1,585,866 | $11,041,724 |
Together Education Inc New York, NY | $57,079,543 | $31,828,853 |
St Stephens School Corporation New York, NY | $22,745,119 | $12,506,958 |
Aids Community Resources Syracuse, NY | $5,910,589 | $11,647,992 |