Ohio Aerospace Institute
- Assets
- $8.8m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 62
- Location
- Brookpark, OH
- Founding
- 06/1990
- Data as of
- 06/2021
- EIN
- 34-1621676
Organization Overview
Ohio Aerospace Institute is located in Brookpark, OH. The organization was established in 1990. As of 06/2021, Ohio Aerospace Institute employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ohio Aerospace Institute 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 06/2021, Ohio Aerospace Institute generated $10.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $10.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ohio Aerospace Institute has awarded 150 individual grants totaling $3,207,030. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE COLLABORATE WITH MEMBERS IN GOVERNMENT, INDUSTRY AND ACADEMIA TO ACCELERATE OHIO'S AEROSPACE WORKFORCE DEVELOPMENT THROUGH A GLOBAL NETWORK OF CONNECTIONS, EDUCATIONAL PROGRAMS, AND CUTTING-EDGE INFORMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AEROSPACE RESEARCH WITH SPECIALIZED RESEARCH TEAMS IN THE AREAS OF COMPUTATIONAL MODELING, MATERIALS, STRUCTURES, VEHICLE HEALTH MONITORING AND SAFETY AND SPACE SCIENCE AND EXPLORATION TECHNOLOGIES
BUILDING AND MANAGING COLLABORATION, CONSORTIA AND PUBLIC-PRIVATE PARTNERSHIP (NEUTRAL, UNBIASED MANAGEMENT)
WORKFORCE DEVELOPMENT: INTERNSHIPS, SCHOLARSHIP, VISITING FACULTY, SHORT COURSES, EDUCATION OUTREACH, STUDENT AND FACULTY ENGAGEMENT WITH INDUSTRY AND FEDERAL LABS
ECONOMIC BASED TECHNOLOGY DEVELOPMENT, TRANSFER AND COMMERCIALIZATION AND LEVERAGING AEROSPACE NETWORK (OHIO AEROSPACE INDUSTRY ASOCIATION) AND MAKING CONNECTIONS BETWEEN GOVERNMENT, INDUSTRY AND ACADEMIA.
AEROSPACE RESEARCH WITH SPECIALIZED RESEARCH TEAMS IN THE AREAS OF COMPUTATIONAL MODELING, MATERIALS, STRUCTURES, VEHICLE HEALTH MONITORING AND SAFETY AND SPACE SCIENCE AND EXPLORATION TECHNOLOGIES
BUILDING AND MANAGING COLLABORATION, CONSORTIA AND PUBLIC-PRIVATE PARTNERSHIP (NEUTRAL, UNBIASED MANAGEMENT)
WORKFORCE DEVELOPMENT: INTERNSHIPS, SCHOLARSHIP, VISITING FACULTY, SHORT COURSES, EDUCATION OUTREACH, STUDENT AND FACULTY ENGAGEMENT WITH INDUSTRY AND FEDERAL LABS
ECONOMIC BASED TECHNOLOGY DEVELOPMENT, TRANSFER AND COMMERCIALIZATION AND LEVERAGING AEROSPACE NETWORK (OHIO AEROSPACE INDUSTRY ASOCIATION) AND MAKING CONNECTIONS BETWEEN GOVERNMENT, INDUSTRY AND ACADEMIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Sankovic President & CEO | Officer | 40 | $332,183 |
Andrew Gyekenyesi Associate Chief Scientist | 40 | $203,125 | |
Mrityunjay Singh Chief Scientist | 40 | $189,609 | |
John Cotman Treasurer & COO | Officer | 40 | $181,176 |
Casimir Suchyta Principal Scientist | 40 | $158,489 | |
Jen-Ching Tsao Principal Scientist | 40 | $152,755 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kenny Williams Dba Astute Consulting Ll Project Management, Business Development | 6/29/19 | $192,620 |
Anthony Gillespie Dba Keen Point Consul Project Management, Business Development | 6/29/19 | $157,267 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $317,994 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,220,323 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,546,717 |
| Total Program Service Revenue | $6,847 |
| Investment income | $2,219 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $463,704 |
| 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 | $10,021,750 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,638,844 |
| Grants and other assistance to domestic individuals. | $898,287 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $607,844 |
| Compensation of current officers, directors, key employees. | $66,415 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,687,768 |
| Pension plan accruals and contributions | $178,921 |
| Other employee benefits | $572,925 |
| Payroll taxes | $300,089 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,988 |
| Fees for services: Accounting | $56,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $90,476 |
| Advertising and promotion | $0 |
| Office expenses | $226,917 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $438,859 |
| Travel | $6,670 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,705 |
| Interest | $12,534 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $336,849 |
| Insurance | $0 |
| All other expenses | $353,914 |
| Total functional expenses | $10,442,590 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $801,436 |
| Savings and temporary cash investments | $1,233,289 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,678,366 |
| 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 | $86,503 |
| Net Land, buildings, and equipment | $4,931,207 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $78,787 |
| Total assets | $8,809,588 |
| Accounts payable and accrued expenses | $955,488 |
| Grants payable | $0 |
| Deferred revenue | $1,108,680 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $78,787 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,157,600 |
| Other liabilities | $0 |
| Total liabilities | $3,300,555 |
| Net assets without donor restrictions | $1,569,730 |
| Net assets with donor restrictions | $3,939,303 |
| 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 | $8,809,588 |
Grants Awarded
Over the last fiscal year, Ohio Aerospace Institute has awarded $1,396,608 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF CINCINNATI PURPOSE: OSGC SCHOLARSHIPS & INNOVATION GRANTS | $130,300 |
UNIVERSITY OF CINCINNATI PURPOSE: OSGC SCHOLARSHIPS & INNOVATION GRANTS | $130,300 |
CLEVELAND STATE UNIVERSITY PURPOSE: OSGC RESEARCH SUPPORT & SCHOLARSHIPS | $92,840 |
CLEVELAND STATE UNIVERSITY PURPOSE: OSGC RESEARCH SUPPORT & SCHOLARSHIPS | $92,840 |
Kent, OH PURPOSE: OSGC SCHOLARSHIPS & INNOVATION GRANTS | $77,400 |
Kent, OH PURPOSE: OSGC SCHOLARSHIPS & INNOVATION GRANTS | $77,400 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Ohio Aerospace Institute has recieved totaling $195,000.
| Awarding Organization | Amount |
|---|---|
Cleveland Foundation Cleveland, OH PURPOSE: NEW TECHNOLOGY TO REDUCE CO2 EMISSIONS AND INCREASE ENERGY SAVINGS | $75,000 |
Fund For Our Economic Future Of Northeast Ohio Cleveland, OH PURPOSE: JOB ACCESS | $60,000 |
Jumpstart Inc Cleveland, OH PURPOSE: ECONOMIC DEVELOPMENT | $60,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Donald Danforth Plant Science Center Saint Louis, MO | $503,520,795 | $58,321,490 |
American Society Of Civil Engineers Reston, VA | $80,247,990 | $62,671,354 |
Airport Research And Development Foundation Alexandria, VA | $5,984,070 | $48,854,965 |
American Institute Of Chemical Engineers New York, NY | $68,575,024 | $50,980,914 |
Northwest Institute Of Research Inc Erie, PA | $4,835,958 | $44,694,809 |
Parallax Advanced Research Corp Beavercreek, OH | $15,622,847 | $40,733,328 |
Altarum Institute Ann Arbor, MI | $56,576,753 | $34,183,665 |
Us Civilian Research And Development Foundation Arlington, VA | $79,574,432 | $31,963,262 |
Hugo W Moser Research Institute At Kennedy Krieger Inc Baltimore, MD | $4,057,390 | $26,927,232 |
International Bioresources Group Manassas, VA | $12,118,539 | $31,000,000 |
New Jersey Innovation Institute Inc Newark, NJ | $15,517,542 | $28,426,314 |
Housing Resources Inc Kalamazoo, MI | $11,093,824 | $28,113,535 |