Mid-Atlantic Aerospace Complex Inc
- Assets
- $3.9m
- Revenue
- $363.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Bridgeport, WV
- Founding
- 03/1994
- Data as of
- 06/2024
- EIN
- 55-0727484
Organization Overview
Mid-Atlantic Aerospace Complex Inc is located in Bridgeport, WV. The organization was established in 1994. According to its NTEE Classification (U30) the organization is classified as: Physical & Earth Sciences, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-Atlantic Aerospace Complex 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 06/2024, Mid-Atlantic Aerospace Complex Inc generated $363.5k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $223.0k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 9 years. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
NONPROFIT AEROSPACE AND ECONOMIC DEVELOPMENT IN WEST VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND ASSIST DEVELOPMENT OF THE AERONAUTICS INDUSTRY AND RELATED BUSINESS AND ECONOMIC INDUSTRIES AND BUSINESS GROWTH IN WEST VIRGINIA, INCLUDING THE NORTH CENTRAL WEST VIRGINIA AIRPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Lang Treasurer | OfficerTrustee | 1 | $0 |
David Hinkle Chairman/director | OfficerTrustee | 1 | $0 |
Robert W Hodes Director | Trustee | 1 | $0 |
John A Lasch III Director | Trustee | 1 | $0 |
Butch Tennant Director | Trustee | 1 | $0 |
James Estep Director | 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 | $2,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,500 |
| Total Program Service Revenue | $0 |
| Investment income | $11,308 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $349,737 |
| 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 | $363,545 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $108,161 |
| Compensation of current officers, directors, key employees. | $21,632 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,000 |
| Payroll taxes | $8,417 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,059 |
| Fees for services: Accounting | $42,699 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,024 |
| Office expenses | $870 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,579 |
| Travel | $3,119 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,190 |
| All other expenses | $376 |
| Total functional expenses | $222,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $855,771 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,086,712 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,942,483 |
| Accounts payable and accrued expenses | $81,282 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $44,875 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $126,157 |
| Net assets without donor restrictions | $3,816,326 |
| 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 | $3,942,483 |