Aerospace Industry Association Of Michigan
- Assets
- $35.7k
- Revenue
- $344.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Rochester, MI
- Founding
- 02/2018
- Data as of
- 12/2021
- EIN
- 82-2502157
Organization Overview
Aerospace Industry Association Of Michigan is located in Rochester, MI. The organization was established in 2018. 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 12/2021, Aerospace Industry Association Of Michigan employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aerospace Industry Association Of Michigan 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, Aerospace Industry Association Of Michigan generated $344.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 42.6% each year . All expenses for the organization totaled $322.0k during the year ending 12/2021. While expenses have increased by 50.0% per year over the past 5 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE AEROSPACE INDUSTRY ASSOCIATION OF MICHIGAN IS A NON-PROFIT, MEMBER DRIVEN INDUSTRY ORGANIZATION. IT IS A PLATFORM FOR AEROSPACE LEADERS IN THE STATE TO WORK TOGETHER ON A COMMON SET OF PRIORITIES TO STRENGTHEN AND SUPPORT THE CONTINUED GROWTH IN THE INDUSTRY THROUGH TALENT ATTRACTION AND NEW INVESTMENT IN MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP FEES - TO BE THE COLLECTIVE VOICE FOR SMALL, MEDIUM AND LARGE COMPANIES IN MICHIGAN'S AEROSPACE INDUSTRY PROVIDING TALENT, RESEARCH AND MARKET ACCESS.THE ASSOCIATION PUBLISHES A DIGITAL MEMBERSHIP DIRECTORY & UPDATES ON A MONTHLY BASIS, MAINTAINS A FULLY SEARCHABLE DATABASE OF MEMBER CAPABILITIES, HOST MEMBER COMPANY LOGOS AND LINK TO THEIR COMPANY URL ON THE AIAM WEBSITE, ORGANIZES AND EXECUTES MULTIPLE NETWORKING EVENTS THROUGHOUT THE YEAR, UTILIZE RELATIONSHIPS WITH HIGHER EDUCATIONAL INSTITUTIONS FOR TALENT ATTRACTION INITIATIVES, DEVELOP AND DELIVER K-12 PROGRAMS FOCUSED ON STEM EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Vernaci President | Officer | 47 | $184,946 |
Michael Stratton Secretary | OfficerTrustee | 1 | $0 |
Matt Eurich Treasurer | OfficerTrustee | 1 | $0 |
Mark Schmidt Board Member | Trustee | 1 | $0 |
Larry Martin Board Member | Trustee | 1 | $0 |
Kevin Michaels Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $55,665 |
| 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 | $55,665 |
| Total Program Service Revenue | $210,736 |
| 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 | $76,737 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $344,538 |
| 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. | $184,946 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,324 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,150 |
| Payroll taxes | $12,733 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $591 |
| Fees for services: Accounting | $875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,250 |
| Advertising and promotion | $47,110 |
| Office expenses | $391 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,473 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $773 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,712 |
| All other expenses | $261 |
| Total functional expenses | $322,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,536 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $201 |
| Total assets | $35,737 |
| Accounts payable and accrued expenses | $5,762 |
| 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 | $0 |
| Total liabilities | $5,762 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $28,975 |
| Total liabilities and net assets/fund balances | $35,737 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Statewide Energy Efficiency Andrenewables Administration Inc Madison, WI | $63,794,129 | $99,926,553 |
Society Of Manufacturing Engineers Southfield, MI | $77,116,365 | $66,156,404 |
Association Of Equipment Manufacturers Milwaukee, WI | $65,690,987 | $35,929,615 |
International Foundation Of Employee Benefit Plans Inc Brookfield, WI | $45,052,685 | $24,056,813 |
Dane Buy Local Foundation Inc Madison, WI | $199,958 | $19,130,759 |
Leap Lansing, MI | $5,631,252 | $15,493,708 |
Greater Cleveland Partnership Cleveland, OH | $36,035,820 | $14,402,868 |
Board Of Certified Safety Professionals Of The Americas Inc Indianapolis, IN | $35,079,358 | $17,695,377 |
Asqexcellence Inc Milwaukee, WI | $6,648,120 | $11,915,494 |
The Right Place Inc Grand Rapids, MI | $10,135,241 | $14,178,677 |
Central Indiana Corporate Partnership Inc Indianapolis, IN | $8,694,724 | $11,696,503 |
Automotive Industry Action Group Southfield, MI | $14,204,782 | $10,849,803 |