VERTICAL LIFT CONSORTIUM INC

EIN: 770408604

SUMMERVILLE, SC

Total Revenue
$615,369
Total Expenses
$1,020,074
Total Assets
$2,144,914
Net Assets
$1,379,301
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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
1995
Legal Domicile
DE
Principal Officer
NICK LAPPOS
Phone
8437604500
Tax Period
2023-01-01 to 2023-12-31

VERTICAL LIFT CONSORTIUM INC, founded in 1995, is a small nonprofit that reported $615K in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $1.0M exceeded revenue, resulting in a 66% operating deficit.

Mission

COOPERATIVE SCIENTIFIC RESEARCH

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $597,095
Investment Income $18,274
Other Revenue $0
TOTAL REVENUE $615,369

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $1,020,074
TOTAL EXPENSES $1,020,074

Year-over-Year Comparison

2023 2022 Change
Revenue $615,369 $490,955 +0.3%
Expenses $1,020,074 $315,983 +2.2%
Net Income $-404,705 $174,972 -3.3%
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

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Governance

Voting Members
17
Independent Members
17
Employees
N/A
Volunteers
17

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
3
$0
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kendall Goodman Member 1.0
Director
$0 $0 $0
Rudy Ostovich Member 1.0
Director
$0 $0 $0
Ronald Lukow Member 1.0
Director
$0 $0 $0
Inder Chopra Member 1.0
Director
$0 $0 $0
Chris MacFarland Member 1.0
Director
$0 $0 $0
JVR Prasad Member 1.0
Director
$0 $0 $0
John Stough Member 1.0
Director
$0 $0 $0
Layne Merritt Member 1.0
Director
$0 $0 $0
Michael Hirschberg Member 1.0
Director
$0 $0 $0
Thomas Von Eschenbach Member 1.0
Director
$0 $0 $0
Brendan Kelly Member 1.0
Director
$0 $0 $0
Kurt Fuller Member 1.0
Director
$0 $0 $0
Robin Preator Member 1.0
Director
$0 $0 $0
William Morris Member 1.0
Director
$0 $0 $0
Jerry Wheeler Member 1.0
Director
$0 $0 $0
Nick Lappos Chairman 1.0
Officer Director
$0 $0 $0
John Piasecki Vice Chairman 1.0
Officer Director
$0 $0 $0
Paul Dudley Secretary Treasurer 6.0
Officer
$0 $0 $0
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
2024 No data No data No data No data
2023 $615,369 $1,020,074 $2,144,914 $-404,705
2022 $490,955 $315,983 $1,843,506 $174,972
2021 $1,056,878 $136,123 $1,717,122 $920,755
2020 $777,175 $220,486 $830,688 $556,689
2019 $227,442 $313,513 $397,078 $-86,071
2018 $349,263 $295,705 $363,250 $53,558
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