FLYGATEWAY AVIATION INSTITUTE

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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

2018

Legal Domicile

Principal Officer

BILL COLL

Phone

8773594899

Tax Period

2023-01-01 to 2023-12-31

FLYGATEWAY AVIATION INSTITUTE, founded in 2018, is a community nonprofit in the Education sector that reported $1.9M in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $3.0M exceeded revenue, resulting in a 56% operating deficit.

Mission

FLY GATEWAY AVIATION INSTITUTE'S PRIMARY PURPOSE IS TO PROVIDE ACCESSIBLE EDUCATION THROUGH QUALITY FLIGHT TRAINING. ONE OF OUR GOALS IS TO MAKE THE PUBLIC AWARE OF THE OPPORTUNITIES THAT AVIATION OFFERS AND TO MAKE THAT PATH ACCESSIBLE TO ALL WHO WANT TO PURSUE IT.

Program Service Accomplishments

Program 1

Expenses: $2,750,312 Revenue: $1,936,978

THE GOALS OF FLYGATEWAY AVIATION INSTITUTE WILL BE TO PROMOTE AVIATION THROUGH EDUCATION, MENTORSHIP, TECHNOLOGY AND INNOVATION. THE CORPORATION WILL FOCUS ON THE CRITICAL EDUCATIONAL OBJECTIVE OF...

THE GOALS OF FLYGATEWAY AVIATION INSTITUTE WILL BE TO PROMOTE AVIATION THROUGH EDUCATION, MENTORSHIP, TECHNOLOGY AND INNOVATION. THE CORPORATION WILL FOCUS ON THE CRITICAL EDUCATIONAL OBJECTIVE OF SUPPORTING SCIENCE, TECHNOLOGY, ENGINEERING AND MATH. THE CORPORATION WILL PROVIDE EDUCATION PROGRAMS TO INDIVIDUALS INTERESTED IN LEARNING ABOUT AVIATION, INCLUDING, BUT NOT LIMITED THROUGH SEMINARS, CLASSES, AND EXTENDED LEARNING OPPORTUNITIES IN ALL AREAS OF AVIATION, INCLUDING, AIRPORT MANAGEMENT, PLAN MAINTENANCE, ACTUAL AVIATION AND FLIGHT-RELATED EDUCATION.THE CORPORATION'S PRIMARY FUNCTION WILL BE THE PRESENTATION OF FORMAL INSTRUCTION IN AVIATION. ALL OTHER ACTIVITIES OF THE CORPORATION, IF ANY, WILL BE IN FURTHERANCE OF THE OPERATION OF A FLIGHT SCHOOL OR BE MERELY INCIDENTAL TO THE FLIGHT SCHOOL'S OPERATION. THE CORPORATION HAS ESTABLISHED AN ACCELERATED TRAINING CURRICULUM, "ZERO TO HERO" PROGRAM, WHICH REGULARLY ENROLLS STUDENTS TO START WITH ZERO TIME IN AN AIRCRAFT. WITHIN SIX MONTHS OF INTENSIVE TRAINING, THE STUDENTS HAVE THE ABILITY TO EARN THEIR PRIVATE, INSTRUMENT, COMMERCIAL AND MULTI-ENGINE CERTIFICATES.THE CORPORATION WILL ALSO CONTINUE ENGAGING AND REGULARLY MAINTAINING QUALIFIED TEACHERS, INSTRUCTORS OR OTHER QUALIFIED PERSONS WHO PERFORM THEIR DUTIES ON A RECURRENT BASIS. THE CORPORATION MAINTAINS FACILITIES WHERE ITS EDUCATIONAL ACTIVITIES WILL BE REGULARLY CARRIED ON.

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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 $1,815,399

Investment Income $121,579

Other Revenue $0

TOTAL REVENUE $1,936,978

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,571,895

Fundraising Expenses $0

Program Expenses $2,750,312

Other Expenses $1,451,256

TOTAL EXPENSES $3,023,151

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,936,978	$2,990,819	-0.4%
Expenses	$3,023,151	$2,365,546	+0.3%
Net Income	$-1,086,173	$625,273	-2.7%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REGIS DE RAMEL	PRESIDENT AND SECRETARY/TR	0.50	Officer Director	$0	$0	$0
JOHN BIANROSA	DIRECTOR	0.50	Director	$0	$0	$0
PHILIP TIMON	DIRECTOR	0.50	Director	$0	$0	$0
RICK NEIHOUSE	DIRECTOR	0.50	Director	$0	$0	$0
PETER VANDERKLEY	DIRECTOR	0.50	Director	$0	$0	$0
ADAM DOUGHTY	DIRECTOR	0.50	Director	$0	$0	$0
SAMUAL HYLAND	DIRECTOR	0.50	Director	$0	$0	$0
RICHARD CORKRAN	DIRECTOR	0.50	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	$1,936,978	$3,023,151	$1,885,842	$-1,086,173
2022	$2,990,819	$2,365,546	$1,597,245	$625,273
2021	$1,240,861	$1,572,106	$961,446	$-331,245
2020	$1,089,221	$1,114,610	$685,792	$-25,389