Vertical Lift Consortium Inc

Organization Overview

Vertical Lift Consortium Inc is located in Summerville, SC. The organization was established in 1995. According to its NTEE Classification (U03) the organization is classified as: Professional Societies & Associations, 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. Vertical Lift Consortium 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 12/2021, Vertical Lift Consortium Inc generated $1.1m 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 (8.3%) each year. All expenses for the organization totaled $136.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (33.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

COOPERATIVE SCIENTIFIC RESEARCH

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO GENERATE AND LICENSE TECHNOLOGICAL PROPERTIES FOR THE BENEFIT OF THE ORGANIZATIONS' MEMBERS AND TO COLLABORATIVELY AND COLLECTIVELY PROVIDE THE U.S. GOVERNMENT WITH INPUT AND ADVICE ON NON-PROPRIETARY, NON-CONFIDENTIAL TECHNICAL CONCEPTS AND ISSUES RELATED TO VERTICAL LIFT TECHNOLOGIES AND TO ACT AS A KNOWLEDGEABLE SOURCE TO THE U.S. GOVERNMENT ABOUT VERTICAL LIFT AIRCRAFT AND TECHNOLOGIES RESEARCH.


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Board, Officers & Key Employees

Name (title)Compensation
Nick Lappos
Chairman
$0
Rudy Ostovich
Vice Chairman
$0
Paul Dudley
Secretary Treasurer
$0
Inder Chopra
Member
$0
Eric Streich
Member
$0
Michael Hirschberg
Member
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Boeing Helicopter Company
Support & Design Svc
$121,815
Bell Helicopter
Support & Design Svc
$405,091
Sikorsky Aircraft
Support & Design Svc
$140,508
University Of Tennesee
Support & Design Svc
$188,360
University Of Texas - Arlington
Support, Design,svcs
$152,644
View All Vendors

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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$1,056,878
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
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 $1,056,878

Endowment Analysis

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