Vertical Aviation International Inc
- Assets
- $43.7m
- Revenue
- $17.0m
- Investments
- $8.8m
- Employees
- 38
- Location
- Alexandria, VA
- Founding
- 05/1990
- Data as of
- 06/2022
- EIN
- 53-0261213
Organization Overview
Vertical Aviation International Inc is located in Alexandria, VA. The organization was established in 1990. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Vertical Aviation International Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vertical Aviation International Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Vertical Aviation International Inc generated $17.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $13.9m during the year ending 06/2022. While expenses have increased by 3.0% 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
TO PROVIDE SERVICES THAT BENEFIT HELICOPTER OPERATIONS, SAFETY, AND ENCOURAGE PROFESSIONALISM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES AND TRADE SHOWS: SUPPORT THE GLOBAL VTOL INDUSTRY BY PROVIDING FORUMS WHERE HELICOPTER PROFESSIONALS CAN GATHER TO CONDUCT BUSINESS; SHOWCASE PRODUCTS, SERVICES, AND TECHNOLOGY; EXCHANGE INFORMATION, BEST PRACTICES, AND IDEAS; TAKE ADVANTAGE OF PROFESSIONAL EDUCATION OPPORTUNITIES; PARTICIPATE IN CAREER DEVELOPMENT AND JOB SEARCH ACTIVITIES; COLLABORATE TO IMPROVE AND PROMOTE INDUSTRY SAFETY AND TO ADDRESS OTHER INDUSTRY ISSUES; AND NETWORK WITH PEERS. HAI'S ANNUAL CONFERENCE AND TRADE SHOW, HAI HELI-EXPO, IS THE WORLD'S LARGEST VTOL SHOW. HAI ALSO PRESENTS AN ANNUAL AERIAL WORK SAFETY CONFERENCE THAT SUPPORTS THE FIREFIGHTING, UTILITY PATROL AND CONSTRUCTION, AND RESTRICTED-CATEGORY AIRCRAFT SECTORS, AS WELL AS MEETINGS TO SUPPORT ADDITIONAL INDUSTRY SECTORS, SUCH AS ADVANCED AIR MOBILITY.
MEMBERSHIP: PROVIDE HAI MEMBERS WITH SERVICES THAT DIRECTLY BENEFIT THEIR OPERATIONS AND ADVANCE THE INTERNATIONAL HELICOPTER INDUSTRY BY PROVIDING PROGRAMS THAT ENHANCE SAFETY AND ENCOURAGE PROFESSIONALISM AND ECONOMIC VIABILITY WHILE PROMOTING THE UNIQUE CONTRIBUTIONS VERTICAL FLIGHT OFFERS TO SOCIETY. EXCLUSIVE HAI MEMBER BENEFITS INCLUDE: DIRECT ACCESS TO HAI TECHNICAL, REGULATORY, AND LEGISLATIVE STAFF; MEMBERSHIP IN HAI WORKING GROUPS; LEGISLATIVE RESOURCES AND UPDATES; VISIBILITY FOR MEMBER COMPANY NEWS IN ROTOR MEDIA; MEMBER COMPANY EMPLOYMENT LISTINGS ON HAI PARTNER'S JOB BOARD; PROGRAMS TO ELEVATE MEMBER COMPANYS' LEVEL OF SAFETY, INCLUDING SMS, ASAP, AND FRAT PROGRAMS; AND DISCOUNTS ON ATTENDING OR EXHIBITING AT HAI EVENTS, ON HAI EDUCATION COURSES, OR ON ADVERTISING IN HAI MEDIA.
GOVERNMENT AFFAIRS: HAI IS DEDICATED TO PROMOTING VERTICAL FLIGHT AS A SAFE, EFFECTIVE TOOL FOR BUSINESS AND TO ADVANCING THE INTERNATIONAL ROTORCRAFT COMMUNITY, WHICH INCLUDES HELICOPTERS, TILTROTORS, VERTICAL-LIFT UNMANNED AIRCRAFT SYSTEMS, AND THE DEVELOPING FIELD OF ADVANCED AIR MOBILITY. HAI ADVOCATES FOR EXPANDING THE USE OF VERTICAL FLIGHT, ON BEHALF OF OUR MEMBERS AND FOR THE BENEFIT OF SOCIETY, WITH LEGISLATORS, REGULATORS, AND GOVERNMENT AGENCIES AROUND THE WORLD. HAI'S DILIGENT WORK AGAINST BURDENSOME REGULATIONS AND ADVOCATING TO ENSURE A SAFE, SUSTAINABLE, AND ECONOMICALLY VIABLE FUTURE FOR OUR INDUSTRY IS AT THE FOREFRONT OF EVERYTHING WE DO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Assistant Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Crosby-volmer Marketing And Communications Consulting Services | 6/29/22 | $143,471 |
The Wyman Company Consulting | 6/29/22 | $227,195 |
John Beck Mcconnico Support For Websites/media | 6/29/22 | $109,035 |
Crowell & Moring Legal | 6/29/22 | $142,066 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $123,828 |
| All other contributions, gifts, grants, and similar amounts not included above | $927,767 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,051,595 |
| Total Program Service Revenue | $11,468,694 |
| Investment income | $1,884,413 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,020 |
| Net Rental Income | $2,261,425 |
| Net Gain/Loss on Asset Sales | $163,928 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,968,416 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $103,023 |
| 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. | $1,549,503 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,953,839 |
| Pension plan accruals and contributions | $118,426 |
| Other employee benefits | $504,289 |
| Payroll taxes | $263,561 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $199,136 |
| Fees for services: Accounting | $91,098 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,694 |
| Fees for services: Other | $1,283,666 |
| Advertising and promotion | $190,770 |
| Office expenses | $634,454 |
| Information technology | $24,380 |
| Royalties | $0 |
| Occupancy | $1,454,138 |
| Travel | $393,481 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,267,278 |
| Interest | $441,531 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,358,141 |
| Insurance | $244,005 |
| All other expenses | $3,786 |
| Total functional expenses | $13,892,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,731,174 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,098,570 |
| 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 | $352,705 |
| Net Land, buildings, and equipment | $15,528,097 |
| Investments—publicly traded securities | $9,227,341 |
| Investments—other securities | $8,812,692 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,931,564 |
| Total assets | $43,682,143 |
| Accounts payable and accrued expenses | $959,852 |
| Grants payable | $0 |
| Deferred revenue | $3,197,968 |
| 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 | $11,681,377 |
| Unsecured mortgages and notes payable | $2,500,000 |
| Other liabilities | $1,550,769 |
| Total liabilities | $19,889,966 |
| Net assets without donor restrictions | $23,792,177 |
| 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 | $43,682,143 |
Grants Awarded
Over the last fiscal year, Vertical Aviation International Inc has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GENERAL AVIATION MANUFACTURERS ASSOCIATION PURPOSE: TO HELP FUND ECONOMIC IMPACT STUDY | $25,000 |
ALLIANCE FOR AVIATION ACROSS AMERICA PURPOSE: TO FURTHER THE AWARENESS OF THE VALUE OF GENERAL AVIATION | $15,000 |