Aerospace Industry Association of Michigan (EIN 822502157) - Form 990 Financial Analysis & Trantor Score

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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

2017

Legal Domicile

Phone

6164466537

Tax Period

2023-01-01 to 2023-12-31

Aerospace Industry Association of Michigan, founded in 2017, is a small nonprofit in the Community Improvement sector that reported $653K in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $595K left a modest 9% surplus.

Mission

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

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $352,303

Investment Income $0

Other Revenue $300,448

TOTAL REVENUE $652,751

Expense Breakdown

Grants Paid $0

Salaries & Benefits $356,473

Fundraising Expenses $0

Program Expenses $594,522

Other Expenses $238,049

TOTAL EXPENSES $594,522

Year-over-Year Comparison

	2023	2022	Change
Revenue	$652,751	$528,744	+0.2%
Expenses	$594,522	$452,115	+0.3%
Net Income	$58,229	$76,629	-0.2%

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

N/A

Employees

Volunteers

N/A

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

$214,800

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tony Vernaci	President	47.00	Officer	$214,800	$0	$214,800
Tyler Ford	Trustee	1.00	Director	$0	$0	$0
Matt Eurich	Trustee	1.00	Officer Director	$0	$0	$0
Michael Stratton	Trustee	1.00	Officer Director	$0	$0	$0
Will Dew	Trustee	1.00	Director	$0	$0	$0
Larry Martin	Trustee	1.00	Director	$0	$0	$0
Mike Stengel	Trustee	1.00	Director	$0	$0	$0
Stacy Paul	Trustee	1.00	Director	$0	$0	$0
Ryan Dean	Trustee	1.00	Director	$0	$0	$0
Mirko Gamba	Trustee	1.00	Director	$0	$0	$0
Sara McMurray	Trustee	1.00	Director	$0	$0	$0
Todd Brassard	Trustee	1.00	Director	$0	$0	$0
Jeffrey Simek	Trustee	1.00	Officer Director	$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	$652,751	$594,522	$210,515	$58,229
2022	$528,744	$452,115	$113,749	$76,629
2021	$344,538	$322,022	$35,737	$22,516
2020	$278,173	$285,474	$12,947	$-7,301
2019	$268,979	$312,361	$17,950	$-43,382
2018	$238,490	$191,281	$59,793	$47,209

Aerospace Industry Association of Michigan