Civic Intelligence

Aspen Higher Learning Flight Academy Inc.

990 • Fiscal year 2022 • EIN 47-0976234

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 01, 2023

Organization ProfileASPENFLIGHTACADEMY.ORG
PO Box 4628Aspen, CO 81612

(970) 279-5439

Siviq Scores

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

Liabilities / Assets

95th percentile

1.06x

Higher debt load relative to assets than 95% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

91st percentile

1.74x

Higher debt load relative to revenue than 91% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

19th percentile

-12%

Higher net margin than 19% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

88th percentile

48%

Faster asset growth than 88% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

92nd percentile

118%

Faster revenue growth than 92% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$1,324,186

Up $429,017 (+48%) from 2021

Net Assets

Down

-$84,550

Down $98,724 (-697%) from 2021

Liabilities

Up

$1,408,736

Up $527,741 (+60%) from 2021

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin19th percentile

Revenue

Up

$810,888

Up $439,550 (+118%) from 2021

Expenses

Up

$909,612

Up $442,487 (+95%) from 2021

Net Income

Down

-$98,724

Down $2,937 (-3.1%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2014: $310,501Liabilities 2014: $233,2462014Assets 2015: $304,838Liabilities 2015: $221,993Net Assets 2015: $82,8452015Assets 2016: $247,509Liabilities 2016: $462,707Net Assets 2016: -$215,1982016Assets 2017: $197,035Liabilities 2017: $465,058Net Assets 2017: -$268,0232017Assets 2018: $99,325Liabilities 2018: $345,687Net Assets 2018: -$246,3622018Assets 2019: $140,627Liabilities 2019: $315,105Net Assets 2019: -$174,4782019Assets 2020: $1,016,950Liabilities 2020: $906,989Net Assets 2020: $109,9612020Assets 2021: $895,169Liabilities 2021: $880,995Net Assets 2021: $14,1742021Assets 2022: $1,324,186Liabilities 2022: $1,408,736Net Assets 2022: -$84,5502022Assets 2023: $1,834,265Liabilities 2023: $1,526,861Net Assets 2023: $307,4042023Assets 2024: $2,319,216Liabilities 2024: $2,079,234Net Assets 2024: $239,9822024

Highlighted filing

2022

Assets$1,324,186
Liabilities$1,408,736
Net Assets-$84,550
Open 2022 Filing

Operations Trend

Revenue Growth92nd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $94,520Expenses 2014: $17,265Net Income 2014: $77,2552014Revenue 2015: $43,136Expenses 2015: $37,546Net Income 2015: $5,5902015Revenue 2016: $80,969Expenses 2016: $281,841Net Income 2016: -$200,8722016Revenue 2017: $79,997Expenses 2017: $132,822Net Income 2017: -$52,8252017Revenue 2018: $177,193Expenses 2018: $163,031Net Income 2018: $14,1622018Revenue 2019: $296,263Expenses 2019: $224,379Net Income 2019: $71,8842019Revenue 2020: $651,608Expenses 2020: $367,169Net Income 2020: $284,4392020Revenue 2021: $371,338Expenses 2021: $467,125Net Income 2021: -$95,7872021Revenue 2022: $810,888Expenses 2022: $909,612Net Income 2022: -$98,7242022Revenue 2023: $1,366,924Expenses 2023: $974,970Net Income 2023: $391,9542023Revenue 2024: $1,111,165Expenses 2024: $1,131,521Net Income 2024: -$20,3562024

Highlighted filing

2022

Revenue$810,888
Expenses$909,612
Net Income-$98,724
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 1, 2023
Return Version
2022v5.0
Gross Receipts
$1,079,528
Mission and Program Overview

Mission

Empowers youth and adults to learn the joys and responsibilities of flying by providing students with classroom and flight training needed to pilot aircraft.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$671,600$1,072,392▲ $400,792
Cash and Non-Interest-Bearing Accounts$222,156$249,546▲ $27,390
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$14,174$-84,550▼ $98,724
Total Assets$895,169$1,324,186▲ $429,017
Other Assets Total$1,413$2,248▲ $835
Liabilities
Mortgage Notes Payable Secured by Investment Property$862,100$1,379,163▲ $517,063
Accounts Payable and Accrued Expenses$9,982$17,039▲ $7,057
Deferred Revenue$8,913$12,534▲ $3,621
Total Liabilities$880,995$1,408,736▲ $527,741
Net Assets / Fund Balance
Total Net Assets Fund Balance$14,174$-84,550▼ $98,724
Total Liabilities and Net Assets / Fund Balance$895,169$1,324,186▲ $429,017

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,072,392$527,280$1,599,672
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Micheal PearceChairman
Jeff PoseyPresident
Andrew DoremusVice President
Jim BrunoDirector
Jon KellyDirector
Jonathan JonesDirector
Rob HoltonDirector
Rob SchererDirector
Robert SchererDirector
Shelly SimiDirector
Bill WhiteTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$136,813
Program Service Revenue
$433,182
Investment Income
$240,893
Other Revenue
$0
All Other Contributions
$136,813
Change in Net Assets
$-98,724
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$909,612
Total Fundraising Expense$33,912
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$419,208--$419,208
Fees for Services Other$246,073--$246,073
Insurance$56,199--$56,199
Interest$52,453--$52,453
Advertising$2,640-$33,912$36,552
Occupancy-$28,000-$28,000
Fees for Services Management-$13,792-$13,792
Office Expenses-$12,891-$12,891
Conferences and Meetings-$8,243-$8,243
Other Expenses$6,882$16,510-$6,882
Fees for Services Legal-$6,270-$6,270
Travel-$4,869-$4,869
Fees for Services Accounting-$1,670-$1,670
Total Functional Expenses$783,455$92,245$33,912$909,612
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
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
No
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, Section B, Line 11B

“The organization receives a draft copy of the form 990 and is emailed to the board of directors for review”

Form 990, Part VI, Section C, Line 19

“All governing documents and other finacial information is available on the enities website”

Filing and Contact Details

Filer

Filer Name
Aspen Higher Learning Flight Academy Inc
EIN
47-0976234
Phone
9702795439
Address
PO BOX 4628, ASPEN, CO 81612

Signing Officer

Name
Michael Pearce
Title
Chairman
Phone
9702795439
Signed
2023-06-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Pearce
Formed
2014
Legal Domicile
Co
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
Smith Leonard Pllc
Address
PO BOX 639, HICKORY, NC 28603
Preparer
Lisa C Brown CPA
Phone
8283221803
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Airplane maintenance: program service expenses 82,775. Management and general expenses 0. Fundraising expenses 0. Total expenses 82,775. Flight instructors: program service expenses 135,663. Management and general expenses 0. Fundraising expenses 0. Total expenses 135,663. Simulator and scholorship expense: program service expenses 27,635. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,635.”

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IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt096638
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0467125
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0274700
IRS990/PYRevenuesLessExpensesAmt0-95787
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0467125
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0371338
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-98724
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0674042
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt014174
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-84550
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01072392
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0527280
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01599672
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01072392
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd00
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECEIVES A DRAFT COPY OF THE FORM 990 AND IS EMAILED TO THE BOARD OF DIRECTORS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL GOVERNING DOCUMENTS AND OTHER FINACIAL INFORMATION IS AVAILABLE ON THE ENITIES WEBSITE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AIRPLANE MAINTENANCE: PROGRAM SERVICE EXPENSES 82,775. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 82,775. FLIGHT INSTRUCTORS: PROGRAM SERVICE EXPENSES 135,663. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 135,663. SIMULATOR AND SCHOLORSHIP EXPENSE: PROGRAM SERVICE EXPENSES 27,635. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,635.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0895169
IRS990/TotalAssetsEOYAmt01324186
IRS990/TotalAssetsGrp/BOYAmt0895169
IRS990/TotalAssetsGrp/EOYAmt01324186
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0136813
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt033912
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt092245
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0783455
IRS990/TotalFunctionalExpensesGrp/TotalAmt0909612
IRS990/TotalGrossUBIAmt033
IRS990/TotalLiabilitiesBOYAmt0880995
IRS990/TotalLiabilitiesEOYAmt01408736
IRS990/TotalLiabilitiesGrp/BOYAmt0880995
IRS990/TotalLiabilitiesGrp/EOYAmt01408736
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt014174
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-84550
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt012000
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt012000
IRS990/TotalProgramServiceExpensesAmt0783455
IRS990/TotalProgramServiceRevenueAmt0433182
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0674042
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0810888
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt033
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0895169
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01324186
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt04869
IRS990/TravelGrp/TotalAmt04869
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt0PO BOX 4628
IRS990/USAddress/CityNm0ASPEN
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd081612
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0ASPENFLIGHTACADEMY.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL PEARCE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum09702795439
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ASPEN HIGHER LEARNING FLIGHT ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0ASPE
ReturnHeader/Filer/EIN0470976234
ReturnHeader/Filer/PhoneNum09702795439
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 4628
ReturnHeader/Filer/USAddress/CityNm0ASPEN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd081612

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,324,186
Liabilities
$1,408,736
Net assets
-$84,550
Revenue
$810,888
Expenses
$909,612
Net income
-$98,724
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.32$2.08$0.24$1.11$1.13$0.02
2023Summary only. Only limited summary data is available for this year.$1.83$1.53$0.31$1.37$0.97$0.39
2022Detailed filing. Detailed filing data is available for this year.$1.32$1.41$0.08$0.81$0.91$0.10
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.88$0.01$0.37$0.47$0.10
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.02$0.91$0.11$0.65$0.37$0.28
2019Detailed filing. Detailed filing data is available for this year.$0.14$0.32$0.17$0.30$0.22$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.10$0.35$0.25$0.18$0.16$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.20$0.47$0.27$0.08$0.13$0.05
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.46$0.22$0.08$0.28$0.20
2015Detailed filing. Detailed filing data is available for this year.$0.30$0.22$0.08$0.04$0.04$0.01
2014Summary only. Only limited summary data is available for this year.$0.31$0.23$0.09$0.02$0.08