Nonprofit · EIN 23-6428319
VERTICAL FLIGHT FOUNDATION
Tax-exempt · FAIRFAX, VA 22031
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $166,885 | $137,160 | $29,725 | $1,707,537 | $0 | $1,707,537 |
| December 31, 2023 | 990 | $113,210 | $100,000 | $13,210 | $1,559,288 | $145,459 | $1,413,829 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $60,433
- Program service revenue
- $0
- Investment income
- $106,452
- Net gain from sales of assets
- $69,204
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $120,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $120,000
- Management and general (functional)
- $17,160
Balance sheet and other
- Total assets, start of year
- $1,559,288
- Total assets, end of year
- $1,707,537
- Total liabilities, end of year
- $0
- Net assets, end of year
- $1,707,537
- Publicly traded securities
- $1,692,516
- Net assets without donor restrictions
- $1,707,537
- Gross receipts
- $377,947
- Employees
- 0
- Volunteers
- 3
- Year formed
- 1970
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ANGELO N COLLINS | EXECUTIVE DIRECTOR Trustee or director | 4 | $0 | $213,096 | $7,344 |
| TOMASZ KRYSINSKI | TRUSTEE (LEFT 6/30/24) Trustee or director | 1 | $0 | $0 | $0 |
| HARRY NAHATIS | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| KATHLEEN KJ JOLIVETTE | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| DAVID SHILLIDAY | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MICHAEL HIRSCHBEG | EXECUTIVE DIRECTOR (JAN - MAY) Trustee or director | 4 | $0 | $183,419 | $7,054 |
| ANGELO COLLINS | EXECUTIVE DIRECTOR (JUNE - PRESENT) Trustee or director | 4 | $0 | $134,624 | $2,102 |
| TOMASZ KRYSINSKI | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| HARRY NAHATIS | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| KATHLEEN KJ JOLIVETTE | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2700 PROSPERITY AVE STE 275, FAIRFAX, VA 22031-4340
- Principal officer (990 for 2024)
- ANGELO N COLLINS, 2700 PROSPERTY AVENUE 275, FAIRFAX, VA 22031
- Signed the 990
- ANGELO N COLLINS, EXECUTIVE DIRECTOR
- Phone
- (703) 684-6777
- Return prepared by
- TRIMNERBECKHAM PLLC
Mission
VERTICAL FLIGHT FOUNDATION PROVIDES SCHOLARSHIPS TO INDIVIDUALS STUDYING AT AN ACCREDITED COLLEGE OR UNIVERSITY AND LIKELY TO UNDERTAKE A CAREER IN VERTICAL FLIGHT TECHNOLOGY.
Program accomplishments
- SCHOLARSHIPS: VERTICAL FLIGHT FOUNDATION PROVIDES SCHOLARSHIPS TO INDIVIDUALS STUDYING AT AN ACCREDITED COLLEGE OR UNIVERSITY AND LIKELY TO UNDERTAKE A CAREER IN VERTICAL FLIGHT TECHNOLOGY.Expenses $120,000 · grants $120,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-6428319
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1967
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,707,537
- Income (IRS master file)
- $377,947
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $166,885 | $137,160 | $1,707,537 | IRS |
| 990 | December 2023 | $113,210 | $100,000 | $1,559,288 | XML |
| 990 | December 2022 | $74,371 | $108,024 | $1,329,171 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-6428319).
Questions about VERTICAL FLIGHT FOUNDATION
- What is the EIN of VERTICAL FLIGHT FOUNDATION?
- The employer identification number (EIN) of VERTICAL FLIGHT FOUNDATION is 23-6428319.
- Is VERTICAL FLIGHT FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1967.
- Are donations to VERTICAL FLIGHT FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does VERTICAL FLIGHT FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VERTICAL FLIGHT FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VERTICAL FLIGHT FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of VERTICAL FLIGHT FOUNDATION?
- The 990 for the year ended December 31, 2024 names ANGELO N COLLINS.
- Who are the officers and directors of VERTICAL FLIGHT FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does VERTICAL FLIGHT FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $166,885, expenses of $137,160 and total assets of $1,707,537 at year end.
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