INSTITUTE OF FLIGHT

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

JEFFERY J VAN DYCK

Phone

4253308008

Tax Period

2018-01-01 to 2018-12-31

INSTITUTE OF FLIGHT, founded in 2004, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2018. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $2.5M exceeded revenue, resulting in a 44% operating deficit.

Mission

TO INSPIRE AND NURTURE MULTI-GENERATIONAL LOCAL AND GLOBAL VISITORS THROUGH IMMERSIVE HANDS-ON EXHIBITS, TOURS AND AEROSPACE EDUCATION EXPERIENCES.

Program Service Accomplishments

Program 1

Expenses: $1,297,911 Revenue: $1,763,338

THE INSTITUTE OF FLIGHT OPERATES THE FUTURE OF FLIGHT FACILITY FROM TOUR TICKET REVENUE COLLECTED ON BEHALF OF THE COUNTY AND POPULATES THE GALLERY WITH EXHIBITS AND EDUCATIONAL DISPLAYS FUNDED BY...

THE INSTITUTE OF FLIGHT OPERATES THE FUTURE OF FLIGHT FACILITY FROM TOUR TICKET REVENUE COLLECTED ON BEHALF OF THE COUNTY AND POPULATES THE GALLERY WITH EXHIBITS AND EDUCATIONAL DISPLAYS FUNDED BY GIFTS, GRANTS AND DONATIONS, TO EDUCATE THE PUBLIC OF THE SIGNIFICANCE OF INNOVATION IN COMMERCIAL AVIATION AND THE IMPACT IT HAS ON THEIR DAILY LIVES.

Program 2

Expenses: $336,317 Revenue: $0

EXHIBITS - EXHIBITS ARE PROVIDED IN THE FACILITY GALLERY THAT HIGHLIGHT THE SIGNIFICANCE OF COMMERCIAL AVIATION AND THE INNOVATIONS CREATED BY AEROSPACE ENGINEERING.

Program 3

Expenses: $257,992 Revenue: $0

EDUCATION - THE INSTITUTE OF FLIGHT HAS DEVELOPED AND IMPLEMENTED EDUCATIONAL PROGRAMS. THESE PROGRAMS INVOLVE MIDDLE SCHOOL CHILDREN IN IMMERSIVE LEARNING PROGRAMS WITH BOTH CLASSROOM INSTRUCTION...

EDUCATION - THE INSTITUTE OF FLIGHT HAS DEVELOPED AND IMPLEMENTED EDUCATIONAL PROGRAMS. THESE PROGRAMS INVOLVE MIDDLE SCHOOL CHILDREN IN IMMERSIVE LEARNING PROGRAMS WITH BOTH CLASSROOM INSTRUCTION AND ON-SITE (FUTURE OF FLIGHT) SESSIONS, INCLUDING A FAMILY ZONE AREA WITH HANDS ON INTERACTIVE LEARNING EXHIBITS. THESE PROGRAMS EMPHASIZE SCIENCE, TECHNOLOGY, ENGINEERING, ART AND MATH (STEAM).

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $28,769

Program Service Revenue $1,763,338

Investment Income $-92,288

Other Revenue $1,383

TOTAL REVENUE $1,701,202

Expense Breakdown

Grants Paid $576,556

Salaries & Benefits $1,475,490

Fundraising Expenses $70,423

Program Expenses $1,892,220

Other Expenses $399,147

TOTAL EXPENSES $2,451,193

Year-over-Year Comparison

	2018	2017	Change
Revenue	$1,701,202	$2,200,520	-0.2%
Expenses	$2,451,193	$2,192,209	+0.1%
Net Income	$-749,991	$8,311	-91.2%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$302,225

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAMERON PERCY	PRESIDENT	4.00	Officer Director	$0	$0	$0
MARY KAYE BREDESON	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
AKHIL PATEL	TREASURER	2.00	Officer Director	$0	$0	$0
TERRY WALKER	SECRETARY	2.00	Officer Director	$0	$0	$0
NICHOLAS PATRICK	PAST PRESIDENT	2.00	Director	$0	$0	$0
PAUL PITRE	BOARD MEMBER	2.00	Director	$0	$0	$0
KEVIN AUSTIN	BOARD MEMBER	2.00	Director	$0	$0	$0
ROBERT PROSCH	BOARD MEMBER	2.00	Director	$0	$0	$0
ANNRENE JOSEPH	BOARD MEMBER	2.00	Director	$0	$0	$0
BRIAN SULLIVAN	BOARD MEMBER	2.00	Director	$0	$0	$0
CHAD JENNINGS	BOARD MEMBER	2.00	Director	$0	$0	$0
TIM SIKORA	BOARD MEMBER	2.00	Director	$0	$0	$0
PATRICK PIERCE	BOARD MEMBER	2.00	Director	$0	$0	$0
ANDREW BALLARD	BOARD MEMBER	2.00	Director	$0	$0	$0
DAN OLSON	BOARD MEMBER	2.00	Director	$0	$0	$0
JEFF MASIWCHUK	BOARD MEMBER	2.00	Director	$0	$0	$0
KENDEE YAMAGUCHI	BOARD MEMBER	2.00	Director	$0	$0	$0
BRETT HEINRICHS	BOARD MEMBER	2.00	Director	$0	$0	$0
ANDY BUCHAN	BOARD MEMBER	2.00	Director	$0	$0	$0
ROBERT POLLACK	BOARD MEMBER	2.00	Director	$0	$0	$0
BONNIE HILORY	EXEC. DIRECTOR THRU 01/18	40.00	Officer	$42,205	$0	$42,205
JEFFERY J VAN DYCK	EXEC. DIRECTOR FROM 01/18	40.00	Officer	$122,573	$500	$123,073
MOLLY BRODIE	CHIEF FINANCIAL OFFICER	40.00	Officer	$126,544	$10,403	$136,947

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2018	$1,701,202	$2,451,193	No data	$-749,991