GLOBAL AEROSPACE INC POST RETIREME… - Form 990 Financial Data

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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

Principal Officer

STYLIANOS KOURSARIS

Phone

9734908550

Tax Period

2023-01-01 to 2023-12-31

GLOBAL AEROSPACE INC POST RETIREMENT MEDICAL TRUST, founded in 2017, is a small nonprofit in the Mutual Benefit sector that reported $589K in total revenue in fiscal year 2023. Revenue surged 186% from the prior year, signaling strong growth momentum. Net assets of $2.5M represent 52 months of operating reserves.

Mission

THE TRUST SHALL BE ADMINISTERED FOR THE EXCLUSIVE PURPOSE OF PROVIDING MEDICAL, PRESCRIPTION, VISION, AND DENTAL BENEFITS TO PARTICIPANTS AS PROVIDED IN THE GLOBAL AEROSPACE POST-RETIREMENT MEDICAL PLAN.

Program Service Accomplishments

Program 1

THE TRUST WAS FORMED JANUARY 1, 2017 WITH THE PURPOSE OF PROVIDING MEDICAL, PRESCRIPTION, VISION, AND DENTAL BENEFITS TO PARTICIPANTS OF THE GLOBAL AEROSPACE POSTRETIREMENT MEDICAL PLAN. EXCEPT TO...

THE TRUST WAS FORMED JANUARY 1, 2017 WITH THE PURPOSE OF PROVIDING MEDICAL, PRESCRIPTION, VISION, AND DENTAL BENEFITS TO PARTICIPANTS OF THE GLOBAL AEROSPACE POSTRETIREMENT MEDICAL PLAN. EXCEPT TO THE EXTENT RECOVERABLE UNDER SECTION 403 OF ERISA, AND SUBJECT TO THE PROVISIONS OF THE PLAN DOCUMENT, THE TRUST ALONG WITH ALL EARNINGS ARE TO BE USED EXCLUSIVELY FOR THE BENEFIT OF THE PLAN PARTICIPANTS, AND EXPENSES OF THE TRUST. FUTURE ACTIVITIES ARE DESCRIBED IN THE PLAN DOCUMENT AS FOLLOWS: THE COMPANY SHALL, FROM TIME TO TIME, EVALUATE THE FUNDING OF THE PLAN AND DETERMINE THE AMOUNT TO BE CONTRIBUTED BY THE COMPANY. THE COMPANY SHALL FUND THE PLAN IN A MANNER CONSISTENT WITH THE PROVISIONS OF THE CODE, ERISA, APPROPRIATE STATE INSURANCE STATUTES AND SUCH OTHER LAWS AND REGULATIONS AS MAY BE APPLICABLE SO THAT THE PLAN SHALL BE FUNDED ON A LAWFUL BASIS. TO THE EXTENT PERMITTED BY GOVERNING LAW, THE COMPANY SHALL BE FREE TO DETERMINE THE MANNER AND MEANS OF MAKING PROVISION FOR FUNDING THE PLAN, INCLUDING THE EXECUTION OF ONE OR MORE FUNDING AGREEMENTS SETTING FORTH MUTUALLY ACCEPTABLE TERMS AND CONDITIONS WITH RESPECT TO THE COMPANY'S CONTRIBUTIONS TO THE PLAN, INCLUDING WITHOUT LIMITATION, PROVISIONS SPECIFYING THE MANNER IN WHICH THE AMOUNT OF THE OBLIGATION SHALL BE DETERMINED AND PAID TO THE TRUST. THE TRUSTEES WILL HOLD, INVEST AND REINVEST THE TRUST FUND ASSETS, AND DISTRIBUTE OR TRANSFER ASSETS OF THE FUND AS DIRECTED BY THE COMPANY OR SERVICE ADMINISTRATOR.

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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 $499,282

Investment Income $89,778

Other Revenue $0

TOTAL REVENUE $589,060

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $575,297

TOTAL EXPENSES $575,297

Year-over-Year Comparison

	2023	2022	Change
Revenue	$589,060	$206,313	+1.9%
Expenses	$575,297	$533,030	+0.1%
Net Income	$13,763	$-326,717	-1.0%

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

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
JEFFREY BRUNO	TRUSTEE	1.00	Director	$0	$0	$0
JOHN KELLY	TRUSTEE (THROUGH 12/31/23)	1.00	Director	$0	$0	$0
ANTHONY MOSCHETTA	TRUSTEE (THROUGH 12/31/23)	1.00	Director	$0	$0	$0
LUANN CENTANNI	TRUSTEE	1.00	Director	$0	$0	$0
STYLIANOS KOURSARIS	TRUSTEE	1.00	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	$589,060	$575,297	$2,586,501	$13,763
2022	$206,313	$533,030	$2,558,591	$-326,717
2021	$214,397	$547,464	$4,045,850	$-333,067
2020	$386,375	$612,751	$4,589,268	$-226,376
2019	$308,860	$660,705	$4,465,585	$-351,845
2018	$562,475	$965,055	$4,267,237	$-402,580

GLOBAL AEROSPACE INC POST RETIREMENT MEDICAL TRUST