Civic Intelligence

Vermont Flight Academy Inc.

990 • Fiscal year 2019 • EIN 27-1366959

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 26, 2019

Organization ProfileWWW.FLYVFA.ORG

View Organization Page

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

50th percentile

0.08x

Higher debt load relative to assets than 50% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

43rd percentile

0.06x

Higher debt load relative to revenue than 43% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

69th percentile

13%

Higher net margin than 69% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

60th percentile

$82,411

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

61st percentile

6.9%

Faster asset growth than 61% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

55th percentile

6.1%

Faster revenue growth than 55% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$1,101,676

Up $70,978 (+6.9%) from 2018

Net Assets

Up

$1,010,643

Up $193,420 (+24%) from 2018

Liabilities

Down

$91,033

Down $122,442 (-57%) from 2018

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin69th percentile

Revenue

Up

$1,537,634

Up $88,449 (+6.1%) from 2018

Expenses

Up

$1,344,214

Up $30,968 (+2.4%) from 2018

Net Income

Up

$193,420

Up $57,481 (+42%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

2019

Assets$1,101,676
Liabilities$91,033
Net Assets$1,010,643
Open 2019 Filing

Operations Trend

Revenue Growth55th percentile

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

2019

Revenue$1,537,634
Expenses$1,344,214
Net Income$193,420
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 26, 2019
Return Version
2018v3.1
Gross Receipts
$1,537,634
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$479,230$540,503▲ $61,273
Cash and Non-Interest-Bearing Accounts$389,957$433,781▲ $43,824
Inventories for Sale or Use$33,853$45,020▲ $11,167
Investments Program Related$36,133$36,133→ $0
Accounts Receivable$51,618$26,033▼ $25,585
Prepaid Expenses and Deferred Charges$39,907$20,206▼ $19,701
Total Assets$1,030,698$1,101,676▲ $70,978
Liabilities
Deferred Revenue$148,947$57,904▼ $91,043
Mortgage Notes Payable Secured by Investment Property$48,974$16,868▼ $32,106
Accounts Payable and Accrued Expenses$15,554$16,261▲ $707
Total Liabilities$213,475$91,033▼ $122,442
Net Assets / Fund Balance
Unrestricted Net Assets$817,223$1,010,643▲ $193,420
Total Net Assets Fund Balance$817,223$1,010,643▲ $193,420
Total Liabilities and Net Assets / Fund Balance$1,030,698$1,101,676▲ $70,978

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$540,503$295,931$836,434
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tyler BrownExecutive DiFT$82,411$82,411

Board Members and Trustees

NameTitle
Guy RouellePresident
David Borthwick-leslieBoard Member
Frank SheaBoard Member
Jason GrieffBoard Member
Larry DupontBoard Member
David RubinNon-voting M
Revenue and Support

Revenue Composition

Contributions and Grants
$17
Program Service Revenue
$1,530,534
Investment Income
$6,522
Other Revenue
$561
All Other Contributions
$17
Change in Net Assets
$193,420
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$837,162
Salaries, Compensation, and Employee Benefits$507,052
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$365,278--$365,278
Current Officers, Directors, Trustees, and Key Employees-$82,411-$82,411
Depreciation Depletion$65,797--$65,797
Insurance$62,899--$62,899
Payroll Taxes$40,451--$40,451
Occupancy$34,800--$34,800
Office Expenses$28,981--$28,981
Other Employee Benefits$18,912--$18,912
Information Technology$15,254--$15,254
All Other Expenses$13,448--$13,448
Other Expenses$10,094--$10,094
Interest$1,879--$1,879
Fees for Services Accounting$1,650--$1,650
Advertising$1,035--$1,035
Fees for Services Legal$122--$122
Travel$121--$121
Total Functional Expenses$1,261,803$82,411$0$1,344,214
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
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

“The 990 is distributed to each board member for review and comment prior to filing. The board has three weeks to reply.”

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
2019-11-26
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
40

Preparer

Firm
Kittell Branagan & Sargent
Address
154 N MAIN ST, ST ALBANS, VT 05478
Preparer
Christopher Branagan CPA
Phone
8025249531
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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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IRS990ScheduleE/DiscriminateRaceSchsInd0false
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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/ExplanationTxt0THE 990 IS DISTRIBUTED TO EACH BOARD MEMBER FOR REVIEW AND COMMENT PRIOR TO FILING. THE BOARD HAS THREE WEEKS TO REPLY.
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
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01101676
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IRS990/TotalContributionsAmt017
IRS990/TotalEmployeeCnt040
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt082411
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01261803
IRS990/TotalFunctionalExpensesGrp/TotalAmt01344214
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0213475
IRS990/TotalLiabilitiesEOYAmt091033
IRS990/TotalLiabilitiesGrp/BOYAmt0213475
IRS990/TotalLiabilitiesGrp/EOYAmt091033
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0817223
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01010643
IRS990/TotalProgramServiceExpensesAmt01261803
IRS990/TotalProgramServiceRevenueAmt01530534
IRS990/TotalReportableCompFromOrgAmt082411
IRS990/TotalRevenueGrp/ExclusionAmt06522
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01531095
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01537634
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01101676
IRS990/TravelGrp/ProgramServicesAmt0121
IRS990/TravelGrp/TotalAmt0121
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FLYVFA.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-22 18:59:49Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TYLER BROWN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08028635988
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERMONT FLIGHT ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0VERM
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ReturnHeader/Filer/PhoneNum08028635988
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.169.148.142
ReturnHeader/FilingSecurityInformation/IPDt02020-01-10
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:41:54
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/PreparationDt02019-12-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTOPHER BRANAGAN CPA
ReturnHeader/ReturnTs02020-01-10T15:41:54-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,101,676
Liabilities
$91,033
Net assets
$1,010,643
Revenue
$1,537,634
Expenses
$1,344,214
Net income
$193,420
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
2019Detailed filing. Detailed filing data is available for this year.$1.10$0.09$1.01$1.54$1.34$0.19
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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