Civic Intelligence

Vermont Flight Academy Inc.

990 • Fiscal year 2018 • EIN 27-1366959

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 15, 2018

355 Valley RoadSouth Burlington, VT 05403

(802) 863-5988

Siviq Scores

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

Liabilities / Assets

64th percentile

0.21x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

59th percentile

0.15x

Higher debt load relative to revenue than 59% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

65th percentile

9.4%

Higher net margin than 65% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

53rd percentile

$70,000

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

33rd percentile

-2.6%

Faster asset growth than 33% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

69th percentile

14%

Faster revenue growth than 69% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$1,030,698

Down $27,972 (-2.6%) from 2017

Net Assets

Up

$817,223

Up $135,939 (+20%) from 2017

Liabilities

Down

$213,475

Down $163,911 (-43%) from 2017

Revenue

Up

$1,449,185

Up $182,576 (+14%) from 2017

Expenses

Up

$1,313,246

Up $255,970 (+24%) from 2017

Net Income

Down

$135,939

Down $73,394 (-35%) from 2017

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $37,550Liabilities 2011: $62,749Net Assets 2011: -$25,1992011Assets 2013: $522,183Liabilities 2013: $380,726Net Assets 2013: $141,4572013Assets 2015: $692,327Liabilities 2015: $370,452Net Assets 2015: $321,8752015Assets 2016: $939,056Liabilities 2016: $467,105Net Assets 2016: $471,9512016Assets 2017: $1,058,670Liabilities 2017: $377,386Net Assets 2017: $681,2842017Assets 2018: $1,030,698Liabilities 2018: $213,475Net Assets 2018: $817,2232018Assets 2019: $1,101,676Liabilities 2019: $91,033Net Assets 2019: $1,010,6432019Assets 2020: $1,426,139Liabilities 2020: $304,593Net Assets 2020: $1,121,5462020Assets 2021: $2,128,401Liabilities 2021: $538,773Net Assets 2021: $1,589,6282021Assets 2022: $2,185,756Liabilities 2022: $422,303Net Assets 2022: $1,763,4532022Assets 2023: $2,466,057Liabilities 2023: $821,443Net Assets 2023: $1,644,6142023Assets 2024: $2,440,800Liabilities 2024: $783,261Net Assets 2024: $1,657,5392024Assets 2025: $1,921,199Liabilities 2025: $705,696Net Assets 2025: $1,215,5032025

Highlighted filing

2018

Assets$1,030,698
Liabilities$213,475
Net Assets$817,223

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $237,1632011Revenue 2013: $1,057,215Expenses 2013: $986,849Net Income 2013: $70,3662013Revenue 2015: $974,378Expenses 2015: $957,502Net Income 2015: $16,8762015Revenue 2016: $1,185,015Expenses 2016: $1,034,939Net Income 2016: $150,0762016Revenue 2017: $1,266,609Expenses 2017: $1,057,276Net Income 2017: $209,3332017Revenue 2018: $1,449,185Expenses 2018: $1,313,246Net Income 2018: $135,9392018Revenue 2019: $1,537,634Expenses 2019: $1,344,214Net Income 2019: $193,4202019Revenue 2020: $1,406,531Expenses 2020: $1,295,628Net Income 2020: $110,9032020Revenue 2021: $2,063,436Expenses 2021: $1,595,354Net Income 2021: $468,0822021Revenue 2022: $2,174,599Expenses 2022: $2,000,774Net Income 2022: $173,8252022Revenue 2023: $2,663,621Expenses 2023: $2,782,460Net Income 2023: -$118,8392023Revenue 2024: $2,705,764Expenses 2024: $2,692,839Net Income 2024: $12,9252024Revenue 2025: $2,449,718Expenses 2025: $2,891,754Net Income 2025: -$442,0362025

Highlighted filing

2018

Revenue$1,449,185
Expenses$1,313,246
Net Income$135,939
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$1,465,863
Mission and Program Overview

Mission

Vt flight academy was created to promote general aviation through a program of high quality flight training provided at a competitive cost.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$533,197$479,230▼ $53,967
Cash and Non-Interest-Bearing Accounts$402,558$389,957▼ $12,601
Accounts Receivable$46,288$51,618▲ $5,330
Prepaid Expenses and Deferred Charges$16,164$39,907▲ $23,743
Investments Program Related$36,133$36,133→ $0
Inventories for Sale or Use$24,330$33,853▲ $9,523
Loans From Officers Directors$9,417--
Total Assets$1,058,670$1,030,698▼ $27,972
Liabilities
Deferred Revenue$287,997$148,947▼ $139,050
Mortgage Notes Payable Secured by Investment Property$75,108$48,974▼ $26,134
Accounts Payable and Accrued Expenses$4,864$15,554▲ $10,690
Total Liabilities$377,386$213,475▼ $163,911
Net Assets / Fund Balance
Unrestricted Net Assets$681,284$817,223▲ $135,939
Total Net Assets Fund Balance$681,284$817,223▲ $135,939
Total Liabilities and Net Assets / Fund Balance$1,058,670$1,030,698▼ $27,972

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$479,230$230,135$709,365
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Tony SperanzaDirector of OperFT$70,000$70,000

Board Members and Trustees

NameTitle
Brent SargentBoard Member
David Borthwick-leslieBoard Member
Douglas WhiteBoard Member
Frank SheaBoard Member
Guy RouelleBoard Member
Jason GrieffBoard Member
Larry DupontBoard Member
Tyler BrownExecutive Di
Douglas SmithNon Voting P
Thomas DudleySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$13
Program Service Revenue
$1,446,939
Investment Income
$1,824
Other Revenue
$409
All Other Contributions
$13
Change in Net Assets
$135,939
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$801,559
Salaries, Compensation, and Employee Benefits$511,687
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$399,864--$399,864
Current Officers, Directors, Trustees, and Key Employees-$70,000-$70,000
Insurance$58,483--$58,483
Depreciation Depletion$57,321--$57,321
Payroll Taxes$41,823--$41,823
Office Expenses$41,660--$41,660
Occupancy$38,140--$38,140
All Other Expenses$34,630--$34,630
Other Expenses$24,097--$24,097
Information Technology$10,517--$10,517
Interest$3,500--$3,500
Travel$1,302--$1,302
Advertising$1,188--$1,188
Fees for Services Legal$1,157--$1,157
Fees for Services Accounting$1,075--$1,075
Total Functional Expenses$1,243,246$70,000$0$1,313,246
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,088
Fundraising Gross Income$893
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
Loans from Officers, Directors, Trustees, and Key Employees$9,417--
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A pdf file containing a copy of the form 990 will be sent to the entire board.

Form 990, Page 6, Part VI, Line 12C

An annual review of any potential conflicts is discussed by the board. If any conflict exists a determination in how to proceed is made by the full board.

Form 990, Page 6, Part VI, Line 15A

An email is circulated to the members of the board of directors with information regarding average pay rates for executive directors of like organizations. This average compensation is compared to the actual hours worked and a calculation for salary is made based on the available funds for this purpose. The board then votes and approves the compensation for the executive director.

Form 990, Page 6, Part VI, Line 19

Copies of by-laws and governing documents are kept at the office of vermont flight academy and are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Vermont Flight Academy Inc
EIN
27-1366959
Phone
8028635988
Address
355 VALLEY ROAD, SOUTH BURLINGTON, VT 05403

Signing Officer

Name
Tyler Brown
Title
Executive Director
Phone
8028635988
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tyler Brown
Formed
2010
Legal Domicile
Vt
Voting Board Members
5
Independent Board Members
5
Employees
49

Preparer

Firm
Kittell Branagan & Sargent
Address
154 N MAIN ST, ST ALBANS, VT 05478
Preparer
Christopher Branagan CPA
Phone
8025249531
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt016164
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt039907
IRS990/PrincipalOfficerNm0TYLER BROWN
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IRS990/ProgramServiceRevenueGrp/Desc0FLIGHT INSTRUCTION INCOME
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01446939
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-6290
IRS990/PYOtherExpensesAmt0738291
IRS990/PYOtherRevenueAmt023675
IRS990/PYProgramServiceRevenueAmt01249224
IRS990/PYRevenuesLessExpensesAmt0209333
IRS990/PYSalariesCompEmpBnftPaidAmt0318985
IRS990/PYTotalExpensesAmt01057276
IRS990/PYTotalRevenueAmt01266609
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0135939
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01449210
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0479230
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0230135
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0709365
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0479230
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE POLICY IS INCLUDED IN ALL BROCHURES AND ADVERTISING.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1NO SCHOLARSHIPS ARE AWARDED BY VERMONT FLIGHT ACADEMY.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A PDF FILE CONTAINING A COPY OF THE FORM 990 WILL BE SENT TO THE ENTIRE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AN ANNUAL REVIEW OF ANY POTENTIAL CONFLICTS IS DISCUSSED BY THE BOARD. IF ANY CONFLICT EXISTS A DETERMINATION IN HOW TO PROCEED IS MADE BY THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AN EMAIL IS CIRCULATED TO THE MEMBERS OF THE BOARD OF DIRECTORS WITH INFORMATION REGARDING AVERAGE PAY RATES FOR EXECUTIVE DIRECTORS OF LIKE ORGANIZATIONS. THIS AVERAGE COMPENSATION IS COMPARED TO THE ACTUAL HOURS WORKED AND A CALCULATION FOR SALARY IS MADE BASED ON THE AVAILABLE FUNDS FOR THIS PURPOSE. THE BOARD THEN VOTES AND APPROVES THE COMPENSATION FOR THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF BY-LAWS AND GOVERNING DOCUMENTS ARE KEPT AT THE OFFICE OF VERMONT FLIGHT ACADEMY AND ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/TotalAmt01313246
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0377386
IRS990/TotalLiabilitiesEOYAmt0213475
IRS990/TotalLiabilitiesGrp/BOYAmt0377386
IRS990/TotalLiabilitiesGrp/EOYAmt0213475
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0681284
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0817223
IRS990/TotalProgramServiceExpensesAmt01243246
IRS990/TotalProgramServiceRevenueAmt01446939
IRS990/TotalReportableCompFromOrgAmt070000
IRS990/TotalRevenueGrp/ExclusionAmt0-38
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01449210
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01449185
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01058670
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01030698
IRS990/TravelGrp/ProgramServicesAmt01302
IRS990/TravelGrp/TotalAmt01302
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0681284
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0817223
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0355 VALLEY RD
IRS990/USAddress/CityNm0SOUTH BURLINGTON
IRS990/USAddress/StateAbbreviationCd0VT
IRS990/USAddress/ZIPCd005403
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FLYVFA.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TYLER BROWN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08028635988
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERMONT FLIGHT ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0VERM
ReturnHeader/Filer/EIN0271366959
ReturnHeader/Filer/PhoneNum08028635988
ReturnHeader/Filer/USAddress/AddressLine1Txt0355 VALLEY ROAD
ReturnHeader/Filer/USAddress/CityNm0SOUTH BURLINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VT
ReturnHeader/Filer/USAddress/ZIPCd005403
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07B115758C07661742B3A4366E9445DF58F8B1F11
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0BD65816A0D498C2E6CE446135BEE28743848716F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.199.202.253
ReturnHeader/FilingSecurityInformation/IPDt02018-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm007:39:16
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0030302296
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KITTELL BRANAGAN & SARGENT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0154 N MAIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ST ALBANS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd005478
ReturnHeader/PreparerPersonGrp/PhoneNum08025249531
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTOPHER BRANAGAN CPA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.92$0.71$1.22$2.45$2.89$0.44
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$0.78$1.66$2.71$2.69$0.01
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.47$0.82$1.64$2.66$2.78$0.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.19$0.42$1.76$2.17$2.00$0.17
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.13$0.54$1.59$2.06$1.60$0.47
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$0.30$1.12$1.41$1.30$0.11
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.09$1.01$1.54$1.34$0.19
2018Detailed filing. Detailed filing data is available for this year.$1.03$0.21$0.82$1.45$1.31$0.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.38$0.68$1.27$1.06$0.21
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.94$0.47$0.47$1.19$1.03$0.15
2015Detailed filing. Detailed filing data is available for this year.$0.69$0.37$0.32$0.97$0.96$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.52$0.38$0.14$1.06$0.99$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.06$0.03$0.24