2024-10-18T08:58:53-05:00 2023-12-31 BDO USA 421 Fayetteville Street Suite 300 Raleigh NC 27601 990 2023-01-01 770408604 VERTICAL LIFT CONSORTIUM INC % PAUL DUDLEY VERT 8437604500 315 SIGMA DRIVE SUMMERVILLE SC 29486 Paul Dudley Secretary/Treasurer 8437603793 2024-10-17 true true SANDRA L FEINSMITH P01064157 9192781936 2024-10-16 2023 2024-10-15 13:58:12Z NICK LAPPOS 315 SIGMA DRIVE SUMMERVILLE SC 29486 615369 false X www.verticalliftconsortium.org X 1995 DE COOPERATIVE SCIENTIFIC RESEARCH 17 17 0 17 0 0 0 0 490955 597095 0 18274 0 0 490955 615369 0 0 0 0 0 0 0 0 0 315983 1020074 315983 1020074 174972 -404705 1843506 2144914 59500 765613 1784006 1379301 COOPERATIVE SCIENTIFIC RESEARCH false false TO GENERATE AND LICENSE TECHNOLOGICAL PROPERTIES FOR THE BENEFIT OF THE ORGANIZATIONS' MEMBERS AND TO COLLABORATIVELY AND COLLECTIVELY PROVIDE THE U.S. GOVERNMENT WITH INPUT AND ADVICE ON NON-PROPRIETARY, NON-CONFIDENTIAL TECHNICAL CONCEPTS AND ISSUES RELATED TO VERTICAL LIFT TECHNOLOGIES AND TO ACT AS A KNOWLEDGEABLE SOURCE TO THE U.S. GOVERNMENT ABOUT VERTICAL LIFT AIRCRAFT AND TECHNOLOGIES RESEARCH. false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 2 0 true 0 false false false false false false false false X 17 17 false true false false true true true true true false false true true false true false false false false false X PAUL DUDLEY 8437603592 315 SIGMA DRIVE SUMMERVILLE SC 29486 X X Kendall Goodman Member 1.0 0.0 X 0 0 0 Rudy Ostovich Member 1.0 0.0 X 0 0 0 Ronald Lukow Member 1.0 0.0 X 0 0 0 Inder Chopra Member 1.0 0.0 X 0 0 0 Chris MacFarland Member 1.0 0.0 X 0 0 0 JVR Prasad Member 1.0 0.0 X 0 0 0 John Stough Member 1.0 0.0 X 0 0 0 Layne Merritt Member 1.0 0.0 X 0 0 0 Michael Hirschberg Member 1.0 0.0 X 0 0 0 Thomas Von Eschenbach Member 1.0 0.0 X 0 0 0 Brendan Kelly Member 1.0 0.0 X 0 0 0 Kurt Fuller Member 1.0 0.0 X 0 0 0 Robin Preator Member 1.0 0.0 X 0 0 0 William Morris Member 1.0 0.0 X 0 0 0 Jerry Wheeler Member 1.0 0.0 X 0 0 0 Nick Lappos Chairman 1.0 0.0 X X 0 0 0 John Piasecki Vice Chairman 1.0 0.0 X X 0 0 0 Paul Dudley Secretary Treasurer 6.0 0.0 X 0 0 0 0 0 0 0 false false false Advanced Technology International 315 Sigma Drive SUMMERVILLE SC 29486 MANAGEMENT SERVICES 417515 1 0 ANNUAL DUES 900099 125120 125120 AMTC ASSESSMENT INCOME 900099 471975 471975 597095 18274 18274 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 615369 597095 0 18274 0 0 0 0 0 0 0 0 0 0 417515 5520 3940 32076 0 0 29817 0 386 1049 0 0 35304 0 483791 0 0 0 4276 SPONSORSHIP 3500 BANK FEES 2331 STATE & FEDERAL REGISTRATIONS 569 1020074 1838491 1124042 0 1018274 0 0 3478 955 0 0 0 0 0 0 0 0 1537 1643 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1843506 2144914 0 702095 0 0 59500 63518 0 0 0 0 0 0 0 0 0 0 0 0 59500 765613 X 1784006 1379301 0 0 1784006 1379301 1843506 2144914 -404705 X false false false false false true 597095 32076 25000 57076 32076 25000 FORM 990, PART VI, SECTION A, LINE 3 MANAGEMENT SERVICES ARE PROVIDED TO VERTICAL LIFT CONSORTIUM, INC. BY ADVANCED TECHNOLOGY INTERNATIONAL, A 501(C)(3) ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 SECTION 5.5 CLASSES OF MEMBERS. THE CORPORATION SHALL HAVE EIGHT (8) CLASSES OF MEMBERS, DESIGNATED AS FOLLOWS: (A) LARGE DOMESTIC ORIGINAL EQUIPMENT MANUFACTURER ("OEM"). ENTITIES ELIGIBLE FOR MEMBERSHIP AS LARGE DOMESTIC OEMS SHALL BE ENTITIES THAT (I) HAD AT LEAST $1 BILLION IN VERTICAL LIFT-RELATED SALES TO THE U.S. MILITARY DURING THEIR MOST RECENT FISCAL YEAR; (II) EMPLOY AT LEAST 500 ENGINEERS ENGAGED IN VERTICAL LIFT-RELATED RESEARCH AND DEVELOPMENT IN THE UNITED STATES; AND (III) HAVE DESIGN AUTHORITY FOR VERTICAL LIFT AIRCRAFT. (B) LARGE TRADITIONAL DEFENSE CONTRACTOR. ENTITIES ELIGIBLE FOR MEMBERSHIP AS LARGE TRADITIONAL DEFENSE CONTRACTORS SHALL BE ENTITIES THAT HAD AT LEAST $250 MILLION IN VERTICAL LIFT-RELATED SALES TO THE U.S. MILITARY DURING THEIR MOST RECENT FISCAL YEAR. (C) SUPPLIER. ENTITIES ELIGIBLE FOR MEMBERSHIP AS SUPPLIERS SHALL BE ENTITIES THAT (I) PRODUCE OR INTEGRATE EQUIPMENT FOR VERTICAL LIFT AIRCRAFT AND TECHNOLOGIES MANUFACTURED WITHIN THE UNITED STATES OR (II) DESIGN AND SUPPLY MATERIALS OR PRODUCTS, PERFORM SYSTEMS INTEGRATION, OR PROVIDE OTHER SERVICES OR SUPPORT FOR USE IN THE VERTICAL LIFT AIRCRAFT AND TECHNOLOGIES MANUFACTURING PROCESS IN THE UNITED STATES. (D) ACADEMIC AND NONPROFIT RESEARCH INSTITUTION. ENTITIES ELIGIBLE FOR MEMBERSHIP AS ACADEMIC AND NONPROFIT RESEARCH INSTITUTIONS SHALL BE (I) UNITED STATES UNIVERSITIES AND (II) UNITED STATES NONPROFIT ORGANIZATIONS ACTIVE IN VERTICAL LIFT RESEARCH. (E) SMALL VERTICAL TAKEOFF AND LANDING (VTOL) ORGANIZATION. ENTITIES ELIGIBLE FOR MEMBERSHIP AS SMALL VTOL ORGANIZATIONS SHALL BE FOR-PROFIT ENTITIES THAT ARE SIGNIFICANTLY INVOLVED IN ACTIVE RESEARCH FOR VERTICAL LIFT PRODUCTION, FLIGHT CHARACTERISTICS, PERFORMANCE, EQUIPMENT, ENGINES, AVIONICS, TRANSMISSIONS, OR RELATED MATERIALS, OR PROVIDE OTHER SERVICES OR SUPPORT, FOR VERTICAL LIFT AIRCRAFT AND TECHNOLOGIES MANUFACTURED WITHIN THE UNITED STATES. (F) ENGINE MANUFACTURER. ENTITIES ELIGIBLE FOR MEMBERSHIP AS ENGINE MANUFACTURERS SHALL BE ENTITIES THAT PRODUCE ENGINES FOR VERTICAL LIFT AIRCRAFT MANUFACTURED IN THE UNITED STATES. (G) AMERICAN HELICOPTER SOCIETY. THE AMERICAN HELICOPTER SOCIETY, FOR AS LONG AS IT REMAINS A VLC MEMBER IN GOOD STANDING, SHALL CONSTITUTE ITS OWN, SINGLE- MEMBER MEMBERSHIP CLASS. (H) OTHERS. ENTITIES ELIGIBLE FOR MEMBERSHIP AS OTHERS SHALL BE ENTITIES THAT DO NOT MEET THE CRITERIA FOR ANY OTHER CLASS OF MEMBERSHIP IN THE VLC. FORM 990, PART VI, SECTION A, LINE 7A SECTION 6.3 NUMBER AND ALLOCATION OF DIRECTORS. THE TOTAL NUMBER OF DIRECTORS SHALL BE NO FEWER THAN SIXTEEN (16), OF WHICH NO FEWER THAN FIFTEEN (15) SHALL BE VOTING AND ONE (1) SHALL BE NONVOTING. THE AGGREGATE NUMBER OF DIRECTORS FROM THE CLASSES DESIGNATED BELOW IN SUBPARAGRAPHS (C) THROUGH (I) SHALL EXCEED THE AGGREGATE NUMBER OF DIRECTORS FROM THE CLASSES DESIGNATED IN SUBPARAGRAPHS (A) AND (B). DIRECTORSHIPS ON THE BOARD SHALL BE ALLOTTED AS FOLLOWS: (A) LARGE DOMESTIC OEMS, AS A CLASS, SHALL BE ENTITLED TO ELECT TWO (2) VOTING DIRECTORS TO CATEGORY A SEATS AND ONE (1) VOTING DIRECTOR TO CATEGORY B SEATS. (B) LARGE TRADITIONAL DEFENSE CONTRACTORS, AS A CLASS, SHALL BE ENTITLED TO ELECT TWO (2) VOTING DIRECTORS TO CATEGORY A SEATS AND ONE (1) VOTING DIRECTOR TO A CATEGORY B SEAT. (C) SUPPLIERS, AS A CLASS, SHALL BE ENTITLED TO ELECT ONE (1) VOTING DIRECTOR TO A CATEGORY A SEAT AND ONE (1) VOTING DIRECTOR TO A CATEGORY B SEAT. (D) ACADEMIC AND NONPROFIT RESEARCH INSTITUTIONS, AS A CLASS, SHALL BE ENTITLED TO ELECT ONE (1) VOTING DIRECTOR TO A CATEGORY A SEAT AND ONE (1) VOTING DIRECTOR TO A CATEGORY B SEAT. (E) SMALL VTOL ORGANIZATIONS, AS A CLASS, SHALL BE ENTITLED TO ELECT ONE (1) VOTING DIRECTOR TO A CATEGORY B SEAT. (F) ENGINE MANUFACTURERS, AS A CLASS, SHALL BE ENTITLED TO ELECT ONE (1) VOTING DIRECTOR TO A CATEGORY A SEAT. (G) THE AMERICAN HELICOPTER SOCIETY SHALL BE ENTITLED TO APPOINT ONE (1) NONVOTING DIRECTOR TO A CATEGORY B SEAT. (H) OTHERS, AS A CLASS, SHALL BE ENTITLED TO ELECT ONE (1) VOTING DIRECTOR TO A CATEGORY A SEAT AND ONE (1) VOTING DIRECTOR TO A CATEGORY B SEAT. (I) AT-LARGE. ANY MEMBER FROM ANY CLASS OF MEMBERSHIP MAY BE ELECTED TO THIS ONE (1) AT-LARGE VOTING DIRECTOR POSITION IN A CATEGORY B SEAT. IN ADDITION, MEMBERS THAT ARE UNDER COMMON CONTROL MAY BE REPRESENTED ON THE BOARD BY ONLY ONE EMPLOYEE AT ANY TIME. FOR PURPOSES OF THIS LIMITATION, MEMBERS SHALL BE DEEMED TO BE UNDER COMMON CONTROL IF EITHER (I) ONE MEMBER HOLDS A MAJORITY OWNERSHIP INTEREST IN THE OTHER MEMBER OR (II) THE SAME PERSON OR ENTITY HOLDS A MAJORITY OWNERSHIP INTEREST IN BOTH MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B SECTION 3.2 DISSOLUTION. EACH MEMBER OF VLC IN GOOD STANDING SHALL HAVE THE RIGHT TO A FRACTIONAL VOTE IN PERFORMING ALL THE ACTS NECESSARY FOR DISSOLUTION OF THE CORPORATION THAT ARE REQUIRED BY SECTION 275 OF THE GENERAL CORPORATION LAW OF THE STATE OF DELAWARE. THE FRACTIONAL VOTE OF EACH MEMBER SHALL BE EQUAL TO THE NUMBER OF VOTING DIRECTORS WITHIN THAT MEMBER'S CLASS, DIVIDED BY THE NUMBER OF MEMBERS IN THAT CLASS. FORM 990, PART VI, SECTION B, LINE 11A FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS, THE GOVERNING BODY OF THE VLC, PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C WE ENSURE COMPLIANCE WITH THE COI POLICY BY HAVING THE VLC ATTORNEY BRIEF SLIDES BEFORE EACH MEETING ABOUT COI. FORM 990, PART VI, SECTION B, LINES 15A & 15B THE ORGANIZATION HAS NO EMPLOYEES. AS SUCH IT HAS NO FORMAL COMPENSATION POLICIES RELATED TO A TOP MANAGEMENT OFFICIAL OR KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE 990 RETURN MAY BE REQUESTED BY LETTER, PHONE OR EMAIL, AND ARRANGEMENTS FOR VIEWING WILL BE MADE BY MUTUAL DECISION. THE ORGANIZATION'S BYLAWS, WHICH INCLUDES ITS CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. THE FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC.