Aerospace Center For Excellence Inc
- Assets
- $21.9m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 55
- Location
- Lakeland, FL
- Founding
- 06/2001
- Data as of
- 09/2023
- EIN
- 59-3679477
Organization Overview
Aerospace Center For Excellence Inc is located in Lakeland, FL. The organization was established in 2001. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 09/2023, Aerospace Center For Excellence Inc employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aerospace Center For Excellence 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 09/2023, Aerospace Center For Excellence Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $4.3m during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENGAGE, EDUCATE, AND ACCELERATE THE NEXT GENERATION OF AEROSPACE PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACE CAMPUS CONSISTS OF VARIOUS EDUCATIONAL BUILDINGS, INCLUDING THE FLORIDA AIR MUSEUM. ACTIVITIES AT ACE INCLUDE AVIATION SUMMER CAMPS, MUSEUM TOURS, STEM BASED LEARNING LABS AND SCHOOL OUTREACH PROGRAMS, NIGHT AT THE MUSEUM, WINGS N THINGS, FIELD TRIPS, AFTER SCHOOL PROGRAMS AND OTHER VARIOUS EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ricardo Garcia Chairman | OfficerTrustee | 2 | $0 |
Robert Beaty Vice-Chairman | OfficerTrustee | 1 | $0 |
Elizabeth Tennyson Treasurer | OfficerTrustee | 1 | $0 |
Jeff Kincart Secretary | OfficerTrustee | 1 | $0 |
Chuck Ahearn Director | Trustee | 1 | $0 |
Roland Betker Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $88,864 |
| Related organizations | $110,662 |
| Government grants | $182,637 |
| All other contributions, gifts, grants, and similar amounts not included above | $872,896 |
| Noncash contributions included in lines 1a–1f | $170,328 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,255,059 |
| Total Program Service Revenue | $230,700 |
| Investment income | $27,934 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,766 |
| Net Income from Fundraising Events | -$5,327 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $25,828 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,543,643 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $362,750 |
| Grants and other assistance to domestic individuals. | $10,552 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $405,004 |
| Compensation of current officers, directors, key employees. | $36,449 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $982,680 |
| Pension plan accruals and contributions | $84,260 |
| Other employee benefits | $132,216 |
| Payroll taxes | $111,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,958 |
| Fees for services: Accounting | $37,283 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,860 |
| Fees for services: Other | $205,080 |
| Advertising and promotion | $29,180 |
| Office expenses | $105,104 |
| Information technology | $31,532 |
| Royalties | $0 |
| Occupancy | $555,627 |
| Travel | $22,942 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $370 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $720,885 |
| Insurance | $152,025 |
| All other expenses | $59,036 |
| Total functional expenses | $4,255,367 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $382,548 |
| Savings and temporary cash investments | $257,792 |
| Pledges and grants receivable | $94,170 |
| Accounts receivable, net | $6,401 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,322 |
| Prepaid expenses and deferred charges | $30,000 |
| Net Land, buildings, and equipment | $17,427,756 |
| Investments—publicly traded securities | $1,282,746 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,434,428 |
| Total assets | $21,929,163 |
| Accounts payable and accrued expenses | $406,020 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,031,346 |
| Total liabilities | $13,437,366 |
| Net assets without donor restrictions | $7,207,807 |
| Net assets with donor restrictions | $1,283,990 |
| 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 | $21,929,163 |
Grants Awarded
Over the last fiscal year, Aerospace Center For Excellence Inc has awarded $362,750 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ELEVATE AEROSPACE & LOGISTICS INCUBATOR INC PURPOSE: TO COVER PAYROLL AND OPERATING COSTS | $151,699 |
LAKELAND AEROCLUB INC PURPOSE: OPERATIONAL SUPPORT OF AVIATION CLUB | $100,000 |
WINTER HAVEN ECONOMIC DEVELOPMENT COUNCIL INC PURPOSE: ASSIST SMALL BUSINESSES | $80,938 |
ASPIRING AVIATORS AERO CLUB PURPOSE: GENERAL SUPPORT | $10,000 |
CENTRAL FLORIDA AEROSPACE ACADEMY FOUNDATION INC PURPOSE: SCHOLARSHIP REFUNDS FROM POLK STATE | $20,113 |