Civic Intelligence

Vertical Flight Foundation

990 • Fiscal year 2020 • EIN 23-6428319

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

Organization ProfileN/A
2700 Prosperity Avenue 275Fairfax, VA 22031

(703) 684-6777

Siviq Scores

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

Liabilities / Assets

26th percentile

0.01x

Higher debt load relative to assets than 26% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

24th percentile

0.02x

Higher debt load relative to revenue than 24% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

98th percentile

89%

Higher net margin than 98% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

89th percentile

$191,726

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 19.5% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

94th percentile

133%

Faster asset growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

100th percentile

1966%

Faster revenue growth than 100% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$1,584,863

Up $905,567 (+133%) from 2019

Net Assets

Up

$1,567,937

Up $956,804 (+157%) from 2019

Liabilities

Down

$16,926

Down $51,237 (-75%) from 2019

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin98th percentile

Revenue

Up

$985,710

Up $937,992 (+1966%) from 2019

Expenses

Up

$108,376

Up $1,701 (+1.6%) from 2019

Net Income

Up

$877,334

Up $936,291 (+1588%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

2020

Assets$1,584,863
Liabilities$16,926
Net Assets$1,567,937
Open 2020 Filing

Operations Trend

Revenue Growth100th percentile

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

2020

Revenue$985,710
Expenses$108,376
Net Income$877,334
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.0
Gross Receipts
$1,233,067
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$679,296$1,584,863▲ $905,567
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$679,296$1,584,863▲ $905,567
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$68,163$16,926▼ $51,237
Total Liabilities$68,163$16,926▼ $51,237
Net Assets / Fund Balance
Net Assets With Donor Restrictions$611,133$1,567,937▲ $956,804
Total Net Assets Fund Balance$611,133$1,567,937▲ $956,804
Total Liabilities and Net Assets / Fund Balance$679,296$1,584,863▲ $905,567
Compensation and Service Providers
Top Officer Pay89th percentile

Board Members and Trustees

NameTitle
Uncompensated Board MembersDirectors
Michael HirschbergExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$939,072
Program Service Revenue
$0
Investment Income
$46,638
Other Revenue
$0
All Other Contributions
$937,110
Change in Net Assets
$877,334
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$100,000
Other Expenses$8,376
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-$8,103-$8,103
Other Expenses-$273-$273
Total Functional Expenses$100,000$8,376$0$108,376
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 275, FAIRFAX, VA 22031

Signing Officer

Name
Michael Hirschberg
Title
Executive Director
Signed
2021-11-12
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
Timothy R Curtis CPA
Phone
5406834053
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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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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt12700 PROSPERITY AVENUE 275
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0FAIRFAX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1FAIRFAX
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt068163
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt113044
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt25844
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
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0679296
IRS990/TotalAssetsEOYAmt01584863
IRS990/TotalAssetsGrp/BOYAmt0679296
IRS990/TotalAssetsGrp/EOYAmt01584863
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0939072
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08376
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0100000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0108376
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt016926
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IRS990/TotalLiabilitiesGrp/EOYAmt016926
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01567937
IRS990/TotalOtherCompensationAmt013852
IRS990/TotalProgramServiceExpensesAmt0100000
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt046638
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0985710
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0679296
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01584863
IRS990/TotReportableCompRltdOrgAmt0177874
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt029
IRS990/VotingMembersIndependentCnt029
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Michael Hirschberg
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Dir.
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERTICAL FLIGHT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0VERT
ReturnHeader/Filer/EIN0236428319
ReturnHeader/Filer/PhoneNum07036846777
ReturnHeader/Filer/USAddress/AddressLine1Txt02700 PROSPERITY AVENUE 275
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/PreparerPersonNm0Timothy R Curtis CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-11-12T14:32:42-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Michael
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Hirschberg

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,584,863
Liabilities
$16,926
Net assets
$1,567,937
Revenue
$985,710
Expenses
$108,376
Net income
$877,334
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