Wright Brothers Institute Inc
- Assets
- $23.3m
- Revenue
- $22.1m
- Investments
- $0.0
- Employees
- 40
- Location
- Dayton, OH
- Founding
- 05/2003
- Data as of
- 09/2022
- EIN
- 82-0546129
Organization Overview
Wright Brothers Institute Inc is located in Dayton, OH. The organization was established in 2003. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Wright Brothers Institute Inc employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wright Brothers Institute 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 09/2022, Wright Brothers Institute Inc generated $22.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.1% each year . All expenses for the organization totaled $21.7m during the year ending 09/2022. While expenses have increased by 25.8% 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
WRIGHT BROTHER'S INSTITUTE ACCELERATES COLLABORATIVE INNOVATION SOLUTIONS FOR AIR AND SPACE FORCES AND OTHER STAKEHOLDERS BY LEVERAGING SUBJECT MATTER EXPERTS, COLLABORATIVE ENVIRONMENTS, DISRUPTIVE INNOVATION PROCESSES, AND PARTNER NETWORKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP AN ORGANIZATION FOR WORLD CLASS RESEARCH AND DEVELOPMENT AMONG ACADEMIA, INDUSTRY, AND GOVERNMENT.DRIVE INNOVATIVE APPROACHES TO ADDRESS EMERGING NEEDS AND OPPORTUNITIES AND TO SUPPORT REGIONAL ECONOMIC DEVELOPMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wendell Banks President | OfficerTrustee | 40 | $259,630 |
Steve Finnessey Employee | Officer | 40 | $194,547 |
Chris Remillard Chief Operating Officer | Officer | 40 | $192,700 |
Robert Barthelemy Employee | Officer | 24 | $190,029 |
Timothy Scott Springer Employee | Officer | 40 | $174,182 |
Meghan Sheehan Former Employee | 40 | $123,561 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stephanie F Hughes Senior Technical Consulant | 9/29/22 | $1,977,187 |
Skyward Limited Test And Evaluation Solutions | 9/29/22 | $214,584 |
Technology Holding Llc Challenge Award | 9/29/22 | $200,000 |
Process Automation Llc Solution Architect | 9/29/22 | $199,377 |
Doab Solutions Project Management Solutions | 9/29/22 | $153,210 |
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 | $21,536,460 |
| Investment income | $537 |
| 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 | $22,085,089 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,093,325 |
| Compensation of current officers, directors, key employees. | $575,056 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,152,035 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $474,595 |
| Payroll taxes | $291,967 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,782 |
| Fees for services: Accounting | $66,719 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $154,335 |
| Advertising and promotion | $41,591 |
| Office expenses | $0 |
| Information technology | $2,351,706 |
| Royalties | $0 |
| Occupancy | $1,455,565 |
| Travel | $115,194 |
| 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 | $151,111 |
| Insurance | $20,083 |
| All other expenses | $0 |
| Total functional expenses | $21,656,878 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,489,535 |
| Savings and temporary cash investments | $93,101 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,332,221 |
| 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 | $166,743 |
| Net Land, buildings, and equipment | $226,056 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,307,656 |
| Accounts payable and accrued expenses | $1,561,931 |
| Grants payable | $0 |
| Deferred revenue | $20,620,362 |
| 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 | $0 |
| Total liabilities | $22,182,293 |
| Net assets without donor restrictions | $1,125,363 |
| 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 | $23,307,656 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Invest Detroit Foundation Detroit, MI | $154,389,743 | $12,808,930 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |