Ohio Aerospace Institute
- Assets
- $8.8m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 46
- Location
- Brookpark, OH
- Founding
- 06/1990
- Data as of
- 06/2022
- EIN
- 34-1621676
Organization Overview
Ohio Aerospace Institute is located in Brookpark, OH. The organization was established in 1990. As of 06/2022, Ohio Aerospace Institute employed 46 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 06/2022, Ohio Aerospace Institute generated $8.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $8.8m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ohio Aerospace Institute has awarded 131 individual grants totaling $2,906,406. 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
2022
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
ECONOMIC BASED TECHNOLOGY DEVELOPMENT, TRANSFER AND COMMERCIALIZATION AND LEVERAGING AEROSPACE NETWORK (OHIO AEROSPACE INDUSTRY ASOCIATION) AND MAKING CONNECTIONS BETWEEN GOVERNMENT, INDUSTRY AND ACADEMIA.
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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meredith Bond PHD Trustee | Trustee | 0 | $0 |
Lee Ann Cochran Trustee | Trustee | 0 | $0 |
Wayne Denny Jr Chairman | Trustee | 0 | $0 |
Ali Dhinojwala Trustee | Trustee | 0 | $0 |
Gail Dolman-Smith Trustee | Trustee | 0 | $0 |
John M Horack PHD Trustee | Trustee | 0 | $0 |
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 | $408,601 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,832,848 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,257,499 |
| Total Program Service Revenue | $91,312 |
| Investment income | $1,252 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $423,922 |
| 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 | $8,780,189 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,156,026 |
| Grants and other assistance to domestic individuals. | $796,888 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $609,074 |
| Compensation of current officers, directors, key employees. | $51,406 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,425,199 |
| Pension plan accruals and contributions | $177,847 |
| Other employee benefits | $549,854 |
| Payroll taxes | $294,036 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,929 |
| Fees for services: Accounting | $58,538 |
| Fees for services: Lobbying | $72,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,416 |
| Office expenses | $229,390 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $470,045 |
| Travel | $62,271 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $52,708 |
| Interest | $7,700 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $348,120 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,788,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,770,032 |
| Savings and temporary cash investments | $535,786 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,464,458 |
| 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 | $116,881 |
| Net Land, buildings, and equipment | $4,779,342 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $135,099 |
| Total assets | $8,801,598 |
| Accounts payable and accrued expenses | $841,124 |
| Grants payable | $0 |
| Deferred revenue | $1,847,079 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $135,099 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $458,027 |
| Other liabilities | $0 |
| Total liabilities | $3,281,329 |
| Net assets without donor restrictions | $1,766,345 |
| Net assets with donor restrictions | $3,753,924 |
| 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 | $8,801,598 |
Grants Awarded
Over the last fiscal year, Ohio Aerospace Institute has awarded $619,033 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
CASE WESTERN RESERVE UNIVERSITY PURPOSE: OSGC SCHOLARSHIPS & FELLOWSHIPS | $8,366 |
BALDWIN WALLACE UNIVERSITY PURPOSE: OSGC SCHOLARSHIPS & FELLOWSHIPS | $15,500 |
CEDARVILLE UNIVERSITY PURPOSE: OSGC SCHOLARSHIPS & FELLOWSHIPS | $14,500 |
MARIETTA COLLEGE PURPOSE: OSGC SCHOLARSHIPS & FELLOWSHIPS | $9,500 |
OHIO NORTHERN UNIVERSITY PURPOSE: OSGC SCHOLARSHIPS & INTERNSHIPS | $49,080 |
OHIO STATE UNIVERSITY THE PURPOSE: OSGC SCHOLARSHIPS, INTERNSHIPS & INNOVATION GRANTS | $83,300 |