Civic Intelligence

Aerox

990 • Fiscal year 2023 • EIN 86-2796416

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization ProfileNCAEROX.COM
PO Box 21565Winstonsalem, NC 27120

(336) 505-8286

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.28x

Higher debt load relative to assets than 63% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

16.23x

Higher debt load relative to revenue than 98% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Net Margin

1st percentile

-1878%

Higher net margin than 1% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

76th percentile

$195,867

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 267.9% of source-year revenue.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Asset Growth

25th percentile

-4.9%

Faster asset growth than 25% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-99%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$4,219,239

Down $217,170 (-4.9%) from 2022

Net Assets

Down

$3,032,752

Down $1,373,093 (-31%) from 2022

Liabilities

Up

$1,186,487

Up $1,155,923 (+3782%) from 2022

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin1st percentile

Revenue

Down

$73,124

Down $5,026,876 (-99%) from 2022

Expenses

Up

$1,446,120

Up $776,513 (+116%) from 2022

Net Income

Down

-$1,372,996

Down $5,803,389 (-131%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2021: $0Liabilities 2021: $24,548Net Assets 2021: -$24,5482021Assets 2022: $4,436,409Liabilities 2022: $30,564Net Assets 2022: $4,405,8452022Assets 2023: $4,219,239Liabilities 2023: $1,186,487Net Assets 2023: $3,032,7522023Assets 2024: $3,511,877Liabilities 2024: $1,201,622Net Assets 2024: $2,310,2552024

Highlighted filing

2023

Assets$4,219,239
Liabilities$1,186,487
Net Assets$3,032,752
Open 2023 Filing

Operations Trend

Revenue Growth1st percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2021: $0Expenses 2021: $24,548Net Income 2021: -$24,5482021Revenue 2022: $5,100,000Expenses 2022: $669,607Net Income 2022: $4,430,3932022Revenue 2023: $73,124Expenses 2023: $1,446,120Net Income 2023: -$1,372,9962023Revenue 2024: $136,018Expenses 2024: $858,277Net Income 2024: -$722,2592024

Highlighted filing

2023

Revenue$73,124
Expenses$1,446,120
Net Income-$1,372,996
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$73,124
Mission and Program Overview

Mission

Creating a national model ecosystem for advanced air mobility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$4,405,845$3,032,752▼ $1,373,093
Land, Buildings, and Equipment, Net$0$2,559,302▲ $2,559,302
Cash and Non-Interest-Bearing Accounts$4,386,409$1,658,883▼ $2,727,526
Accounts Receivable$50,000$559▼ $49,441
Prepaid Expenses and Deferred Charges$0$489▲ $489
Other Notes and Loans Receivable, Net$0$6▲ $6
Savings and Temporary Cash Investments$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$4,436,409$4,219,239▼ $217,170
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$30,564$1,186,487▲ $1,155,923
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$30,564$1,186,487▲ $1,155,923
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,405,845$3,032,752▼ $1,373,093
Total Liabilities and Net Assets / Fund Balance$4,436,409$4,219,239▼ $217,170

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,559,302$0$2,559,302
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleBaseTotal
Basil YapPresident & Director$195,867$195,867
Kyle MountsTreasurer & Director$58,239$58,239

Board Members and Trustees

NameTitle
David MountsDirector
Karen BarnesDirector
Michael BaughanSecretary & Director
Revenue and Support

Revenue Composition

Contributions and Grants
$72,500
Program Service Revenue
$624
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-1,372,996
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,086,460
Salaries, Compensation, and Employee Benefits$359,660
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$802,122-$802,122
Current Officers, Directors, Trustees, and Key Employees-$339,575-$339,575
Fees for Services Legal-$106,345-$106,345
All Other Expenses-$56,821-$56,821
Office Expenses-$30,626-$30,626
Payroll Taxes-$20,085-$20,085
Travel-$18,879-$18,879
Insurance-$15,855-$15,855
Fees for Services Accounting-$3,500-$3,500
Advertising-$3,000-$3,000
Other Expenses-$2,070-$2,070
Total Functional Expenses$0$1,446,120$0$1,446,120
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Aerox
EIN
86-2796416
In Care Of
% DAVID MOUNTS GONZALEZ
Phone
3365058286
Address
PO Box 21565, WINSTONSALEM, NC 27120

Signing Officer

Name
Basil Yap
Title
President
Phone
3365058286
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Basil Yap
Formed
2021
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
8
Volunteers
3

Preparer

Firm
PwC US Tax LLP
Address
400 BELLEMEADE ST STE 402, GREENSBORO, NC 27401
Preparer
Brooks a Stewart
Phone
3366652700
Supplemental Narrative

Additional Explanations

Conflict of Interest

“FORM 990, PART VI, SECTION B, LINE 12C IN RESPECT TO THE COMPANY'S CONFLICT OF INTEREST POLICY, EACH DIRECTOR, OFFICER, EXECUTIVE, OR MANAGEMENT-LEVEL EMPLOYEE OF THE COMPANY AND ANY SIGNIFICANT ADVISOR, CONSULTANT, OR OTHER CONTRACTOR TO THE COMPANY IS REQUESTED (AND REQUIRED WHEREVER PRACTICABLE) TO SIGN A STATEMENT ANNUALLY THAT AFFIRMS THAT SUCH PERSON: a) HAS RECEIVED A COPY OF THE POLICY b) HAS READ AND UNDERSTOOD THE POLICY c) HAS AGREED TO COMPLY WITH THIS POLICY AND d) UNDERSTANDS THAT THE COMPANY IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(c)(6) OF THE CODE AND THAT, IN ORDER TO MAINTAIN ITS FEDERAL TAX-EXEMPT STATUS, IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES AND MAY NOT ENGAGE IN ACTIVITIES THAT RESULT IN PRIVATE INUREMENT OR UNREASONABLE OR EXCESSIVE ECONOMIC BENEFIT TO PRIVATE INDIVIDUALS OR ENTITIES. ADDITIONALLY, THE BOARD MAY DETERMINE THAT SOME INTERESTED PERSONS MAY BE REQUIRED TO COMPLETE AND SUBMIT A DISCLOSURE FORM TO THE COMPANY IN ORDER TO PROVIDE INFORMATION WITH RESPECT TO THE PRESENCE OR ABSENCE OF A FINANCIAL INTEREST.”

Governing Documents

“Form 990, part vi, section c, line 19 these documents are proprietary and are not made available to the public.”

Form 990 Review Process

“Form 990, part vi, schedule b, line 11b an electronic version of the return will be made available to all board members in advance of the filing date. Representatives of the organization staff will be available to respond to any questions or address any issues.”

Form 990 Part IX Line 11G

“Description:consulting fee total fees:802122”

Raw XML Appendix396 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE PROPRIETARY AND ARE NOT MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990, PART VI, SCHEDULE B, LINE 11B AN ELECTRONIC VERSION OF THE RETURN WILL BE MADE AVAILABLE TO ALL BOARD MEMBERS IN ADVANCE OF THE FILING DATE. REPRESENTATIVES OF THE ORGANIZATION STAFF WILL BE AVAILABLE TO RESPOND TO ANY QUESTIONS OR ADDRESS ANY ISSUES.
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PwC US Tax LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0400 BELLEMEADE ST STE 402
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENSBORO
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ReturnHeader/PreparerPersonGrp/PhoneNum03366652700
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BROOKS A STEWART
ReturnHeader/ReturnTs02024-11-14T12:48:27-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,219,239
Liabilities
$1,186,487
Net assets
$3,032,752
Revenue
$73,124
Expenses
$1,446,120
Net income
-$1,372,996
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.51$1.20$2.31$0.14$0.86$0.72
2023Detailed filing. Detailed filing data is available for this year.$4.22$1.19$3.03$0.07$1.45$1.37
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.44$0.03$4.41$5.10$0.67$4.43
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.02$0.02$0.00$0.02$0.02