Civic Intelligence

Vertical Flight Foundation

990 • Fiscal year 2019 • EIN 23-6428319

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 15, 2020

Organization ProfileN/A
2700 Prosperity AvenueFairfax, VA 22031

(703) 684-6777

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

64th percentile

0.10x

Higher debt load relative to assets than 64% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

1.43x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

2nd percentile

-124%

Higher net margin than 2% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

96th percentile

$200,363

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 419.9% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets64th percentile

Assets

$679,296

No earlier filing loaded for comparison.

Net Assets

$611,133

No earlier filing loaded for comparison.

Liabilities

$68,163

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin2nd percentile

Revenue

$47,718

No earlier filing loaded for comparison.

Expenses

$106,675

No earlier filing loaded for comparison.

Net Income

-$58,957

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2019: $679,296Liabilities 2019: $68,163Net Assets 2019: $611,1332019Assets 2020: $1,584,863Liabilities 2020: $16,926Net Assets 2020: $1,567,9372020Assets 2021: $1,752,812Liabilities 2021: $49,077Net Assets 2021: $1,703,7352021Assets 2022: $1,329,171Liabilities 2022: $62,379Net Assets 2022: $1,266,7922022Assets 2023: $1,559,288Liabilities 2023: $145,459Net Assets 2023: $1,413,8292023Assets 2024: $1,707,537Liabilities 2024: $0Net Assets 2024: $1,707,5372024

Highlighted filing

2019

Assets$679,296
Liabilities$68,163
Net Assets$611,133
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2019: $47,718Expenses 2019: $106,675Net Income 2019: -$58,9572019Revenue 2020: $985,710Expenses 2020: $108,376Net Income 2020: $877,3342020Revenue 2021: $118,036Expenses 2021: $115,832Net Income 2021: $2,2042021Revenue 2022: $74,371Expenses 2022: $108,024Net Income 2022: -$33,6532022Revenue 2023: $113,210Expenses 2023: $100,000Net Income 2023: $13,2102023Revenue 2024: $166,885Expenses 2024: $137,160Net Income 2024: $29,7252024

Highlighted filing

2019

Revenue$47,718
Expenses$106,675
Net Income-$58,957
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 15, 2020
Return Version
2019v5.0
Gross Receipts
$256,530
Mission and Program Overview

Mission

Vertical flight foundation provides scholarships to individuals likely to undertake a career in vertical flight technology.

Scholarships - vertical flight

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$620,640$679,296▲ $58,656
Cash and Non-Interest-Bearing Accounts-$0-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$620,640$679,296▲ $58,656
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$36,089$68,163▲ $32,074
Total Liabilities$36,089$68,163▲ $32,074
Net Assets / Fund Balance
Net Assets With Donor Restrictions$584,551$611,133▲ $26,582
Total Net Assets Fund Balance$584,551$611,133▲ $26,582
Total Liabilities and Net Assets / Fund Balance$620,640$679,296▲ $58,656
Compensation and Service Providers
Top Officer Pay96th percentile

Board Members and Trustees

NameTitle
Uncompensated Board MembersDirectors
Michael HirschbergExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$17,926
Program Service Revenue
$0
Investment Income
$29,792
Other Revenue
$0
All Other Contributions
$17,926
Change in Net Assets
$-58,957
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$100,000
Other Expenses$6,675
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$100,000--$100,000
Fees for Service Investment Mgmnt Fees-$6,323-$6,323
Other Expenses-$352-$352
Total Functional Expenses$100,000$6,675$0$106,675
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Tax return preparer reviews form 990 and the signer is provided a copy for review.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Any interested party has the right to review the documents.”

Filing and Contact Details

Filer

Filer Name
Vertical Flight Foundation
EIN
23-6428319
Phone
7036846777
Address
2700 PROSPERITY AVENUE, FAIRFAX, VA 22031

Signing Officer

Name
Michael Hirschberg
Title
Executive Director
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Hirschberg
Formed
1970
Legal Domicile
Va
Voting Board Members
29
Independent Board Members
29
Employees
0

Preparer

Firm
Timothy R Curtis CPA
Address
2594 STONEWALL JACKSON HWY, BENTONVILLE, VA 22610
Preparer
Linda K Curtis CPA
Phone
5406834053
Supplemental Narrative

Additional Explanations

Schedule I

“Attached list of scholarships given in 2019 and the receiptents of the scholarships”

Raw XML Appendix398 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Attached list of scholarships given in 2019 and the receiptents of the scholarships
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule I
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1FAIRFAX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd022031
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd122031
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt068163
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt18480
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt28631
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cash Advanced
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Allocation
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2Allocation
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0AMERICAN HELICOPTER SOCIETY
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1AMERICAN HELICOPTER SOCIETY
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2AMERICAN HELICOPTER SOCIETY
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0d
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1n
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2o
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0620640
IRS990/TotalAssetsEOYAmt0679296
IRS990/TotalAssetsGrp/BOYAmt0620640
IRS990/TotalAssetsGrp/EOYAmt0679296
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt017926
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06675
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0100000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0106675
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt036089
IRS990/TotalLiabilitiesEOYAmt068163
IRS990/TotalLiabilitiesGrp/BOYAmt036089
IRS990/TotalLiabilitiesGrp/EOYAmt068163
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0584551
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0611133
IRS990/TotalOtherCompensationAmt014476
IRS990/TotalProgramServiceExpensesAmt0100000
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt029792
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt047718
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0620640
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0679296
IRS990/TotReportableCompRltdOrgAmt0185887
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt029
IRS990/VotingMembersIndependentCnt029
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Michael Hirschberg
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Dir.
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERTICAL FLIGHT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0VERT
ReturnHeader/Filer/EIN0236428319
ReturnHeader/Filer/PhoneNum07036846777
ReturnHeader/Filer/USAddress/AddressLine1Txt02700 PROSPERITY AVENUE
ReturnHeader/Filer/USAddress/CityNm0FAIRFAX
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd022031
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0464107683
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TIMOTHY R CURTIS CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02594 STONEWALL JACKSON HWY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BENTONVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022610
ReturnHeader/PreparerPersonGrp/PhoneNum05406834053
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Linda K Curtis CPA
ReturnHeader/ReturnTs02020-11-15T17:12:47-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$679,296
Liabilities
$68,163
Net assets
$611,133
Revenue
$47,718
Expenses
$106,675
Net income
-$58,957
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$0.00$1.71$0.17$0.14$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.56$0.15$1.41$0.11$0.10$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.33$0.06$1.27$0.07$0.11$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.75$0.05$1.70$0.12$0.12$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.58$0.02$1.57$0.99$0.11$0.88
2019Detailed filing. Detailed filing data is available for this year.$0.68$0.07$0.61$0.05$0.11$0.06