Civic Intelligence

Aerospace Industry Association of Michig

EIN 82-2502157 • 501(c)6 • Rochester, MI

Profile

The aerospace industry association of michigan is a non-profit, member driven industry organization. It is a platform for aerospace leaders in the state to work together on a common set of priorities to strengthen and support the continued growth in the industry through talent attraction and new investment in michigan.

PO Box 81226Rochester, MI 48308

aiamnow.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

82nd percentile

0.36x

Higher debt load relative to assets than 82% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

67th percentile

0.15x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Net Margin

19th percentile

-8.6%

Higher net margin than 19% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

93rd percentile

$187,180

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 28.5% of source-year revenue.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Asset Growth

88th percentile

30%

Faster asset growth than 88% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

39th percentile

0.8%

Faster revenue growth than 39% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$273,925

Up $63,410 (+30%) from 2023

Liabilities

Up

$99,472

Up $80,541 (+425%) from 2023

Net Assets

Down

$174,453

Down $17,131 (-8.9%) from 2023

Operations
Liabilities / Revenue67th percentileNet Margin19th percentile

Revenue

Up

$657,774

Up $5,023 (+0.8%) from 2023

Expenses

Up

$714,257

Up $119,735 (+20%) from 2023

Net Income

Down

-$56,483

Down $114,712 (-197%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth88th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0Assets 2017: $18,513Liabilities 2017: $2,596Net Assets 2017: $15,9172017Assets 2018: $59,793Liabilities 2018: $1,651Net Assets 2018: $58,1422018Assets 2019: $17,950Liabilities 2019: $3,190Net Assets 2019: $14,7602019Assets 2020: $12,947Liabilities 2020: $5,488Net Assets 2020: $7,4592020Assets 2021: $35,737Liabilities 2021: $5,762Net Assets 2021: $29,9752021Assets 2022: $113,749Liabilities 2022: $7,148Net Assets 2022: $106,6012022Assets 2023: $210,515Liabilities 2023: $18,931Net Assets 2023: $191,5842023Assets 2024: $273,925Liabilities 2024: $99,472Net Assets 2024: $174,4532024

Highlighted filing

2024

Assets$273,925
Liabilities$99,472
Net Assets$174,453
Open 2024 Filing

Operations Trend

Revenue Growth39th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2017: $58,335Expenses 2017: $42,418Net Income 2017: $15,9172017Revenue 2018: $238,490Expenses 2018: $191,281Net Income 2018: $47,2092018Revenue 2019: $268,979Expenses 2019: $312,361Net Income 2019: -$43,3822019Revenue 2020: $278,173Expenses 2020: $285,474Net Income 2020: -$7,3012020Revenue 2021: $344,538Expenses 2021: $322,022Net Income 2021: $22,5162021Revenue 2022: $528,744Expenses 2022: $452,115Net Income 2022: $76,6292022Revenue 2023: $652,751Expenses 2023: $594,522Net Income 2023: $58,2292023Revenue 2024: $657,774Expenses 2024: $714,257Net Income 2024: -$56,4832024

Highlighted filing

2024

Revenue$657,774
Expenses$714,257
Net Income-$56,483
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$273,925
Liabilities
$99,472
Net assets
$174,453
Revenue
$657,774
Expenses
$714,257
Net income
-$56,483
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.74$0.99$1.74$6.58$7.14$0.56
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.11$0.19$1.92$6.53$5.95$0.58
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.07$1.07$5.29$4.52$0.77
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.36$0.06$0.30$3.45$3.22$0.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.13$0.05$0.07$2.78$2.85$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$0.03$0.15$2.69$3.12$0.43
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.60$0.02$0.58$2.38$1.91$0.47
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.19$0.03$0.16$0.58$0.42$0.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 15, 2025
Return Version
2024v5.1
Gross Receipts
$938,420
Mission and Program Overview

Mission

The aerospace industry association of michigan is a non-profit, member driven industry organization. It is a platform for aerospace leaders in the state to work together on a common set of priorities to strengthen and support the continued growth in the industry through talent attraction and new investment in michigan.

A platform for aerospace leaders in the state to work together on a common set of priorities to strengthen and support the continued growth in the industry through talent attraction and new investment in Michigan

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$191,584$174,453▼ $17,131
Cash and Non-Interest-Bearing Accounts$162,579$130,598▼ $31,981
Accounts Receivable$47,936$129,752▲ $81,816
Savings and Temporary Cash Investments-$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-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$210,515$273,925▲ $63,410
Other Assets Total-$13,575-
Liabilities
Other Liabilities-$77,542-
Accounts Payable and Accrued Expenses$18,931$21,930▲ $2,999
Total Liabilities$18,931$99,472▲ $80,541
Net Assets / Fund Balance
Total Net Assets Fund Balance$191,584$174,453▼ $17,131
Total Liabilities and Net Assets / Fund Balance$210,515$273,925▲ $63,410
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tony VernaciPresidentFT$187,180$187,180

Board Members and Trustees

NameTitle
Jeffrey SimekTrustee
Larry MartinTrustee
Matt EurichTrustee
Michael StrattonTrustee
Mike StengelTrustee
Mirko GambaTrustee
Ryan DeanTrustee
Sara McMurrayTrustee
Stacy PaulTrustee
Todd BrassardTrustee
Tyler FordTrustee
Will DewTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$349,976
Investment Income
$0
Other Revenue
$307,798
Change in Net Assets
$-56,483
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$465,008
Other Expenses$249,249
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$218,365
Current Officers, Directors, Trustees, and Key Employees---$187,180
Fees for Services Other---$81,771
Advertising---$75,228
Payroll Taxes---$31,701
Other Employee Benefits---$27,762
Travel---$15,240
All Other Expenses---$14,628
Insurance---$13,828
Other Expenses---$5,541
Fees for Services Accounting---$3,543
Total Functional Expenses$0$0$0$714,257
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$588,444
Fundraising Direct Expenses$280,646
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
AeroOne Conference$485,908$485,908$223,930$261,978
Annual Golf Outing$59,161$59,161$24,180$34,981
Total Events$583,729$583,729$277,646$306,083
Political and Lobbying Activity
Political campaign 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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to President$69,451
Credit Cards$8,091
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Aerospace Industry Association
EIN
82-2502157
Phone
6164466537
Address
PO Box 81226, Rochester, MI 48308

Signing Officer

Name
Antonio Vernaci
Title
President
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
2017
Legal Domicile
Mi
Voting Board Members
13
Independent Board Members
0
Employees
3

Preparer

Firm
The Family Financials LLC
Address
2739 Elmwood Dr SE, Grand Rapids, MI 49506-4260
Preparer
Jennifer Madden
Phone
6164466537
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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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IRS990/OtherEmployeeBenefitsGrp/TotalAmt027762
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IRS990/OtherExpensesGrp/TotalAmt28015
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt031701
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
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IRS990/PriorPeriodAdjustmentsAmt039352
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IRS990/ProgramServiceRevenueGrp/Desc1Sponsorships
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IRS990/ProgramServiceRevenueGrp/ExclusionAmt196405
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt196405
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IRS990/PYOtherRevenueAmt0300448
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IRS990/PYRevenuesLessExpensesAmt058229
IRS990/PYSalariesCompEmpBnftPaidAmt0356473
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IRS990/PYTotalRevenueAmt0652751
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-56483
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0306083
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0714257
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0657774
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0273925
IRS990/TravelGrp/TotalAmt015240
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 81226
IRS990/USAddress/CityNm0Rochester
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048308
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Antonio Vernaci
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Aerospace Industry Association
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0of Michigan
ReturnHeader/Filer/BusinessNameControlTxt0AERO
ReturnHeader/Filer/EIN0822502157
ReturnHeader/Filer/PhoneNum06164466537
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 81226
ReturnHeader/Filer/USAddress/CityNm0Rochester
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048308
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0264362596
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0The Family Financials LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02739 Elmwood Dr SE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Grand Rapids

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