Form 990 for tax year 2024
Filed by NATIONAL AVIATION RESEARCH AND TECHNOLOGY PARK INC.
Totals
- Total revenue
- $1,204,943
- Total expenses
- $1,249,525
- Contributions and grants received
- $1,187,683
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $6,444
- Other revenue
- $10,816
- Total assets, end of year
- $999,133
- Total liabilities, end of year
- $2,872,962
- Net assets or fund balances, end of year
- -$1,873,829
- Program services expenses (Part IX)
- $1,249,525
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,249,525
Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$1,187,683
-
3 · Investment income
total $6,444 · related or exempt $6,444
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: MISCELLANEOUS INCOME
total $1,816 · related or exempt $1,816
-
11b · Other revenue: RENT
total $9,000 · related or exempt $9,000
-
11e · Other revenue, total
$10,816
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $1,132,616 · program services $1,132,616
-
12 · Advertising and promotion
total $4,893 · program services $4,893
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $35,000 · program services $35,000
-
17 · Travel
total $331 · program services $331
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $2,320 · program services $2,320
-
20 · Interest
total $28,999 · program services $28,999
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $5,836 · program services $5,836
-
23 · Insurance
total $8,820 · program services $8,820
-
24a · Other expenses: FACILITIES MAINTENANCE
total $10,236 · program services $10,236
-
24b · Other expenses: TELEPHONE
total $6,533 · program services $6,533
-
24c · Other expenses: MATERIAL & SUPPLIES
total $6,090 · program services $6,090
-
24d · Other expenses: GRANT EXPENSE
total $4,858 · program services $4,858
-
24e · All other expenses
total $2,993 · program services $2,993
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $644,112 · end of year $617,858
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
beginning of year $64,305 · end of year $276,514
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $8,392 · end of year $7,876
-
10a · Land, buildings and equipment: cost or other basis
$124,816
-
10b · Land, buildings and equipment: accumulated depreciation
$27,931
-
10c · Land, buildings and equipment, net
beginning of year $96,195 · end of year $96,885
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $34,917 · end of year $2,384
-
19 · Deferred revenue
beginning of year $694,568 · end of year $928,813
-
23 · Secured mortgages and notes payable
beginning of year $1,912,766 · end of year $1,941,765
-
27 · Net assets without donor restrictions
beginning of year -$1,829,247 · end of year -$1,873,829
Mission and programs · 2024
Mission
TO PROVIDE LEADERSHIP IN THE ADVACEMENT OF AEROSPACE SCIENCES BY CREATING AN ECOSYSTEM OF INDUSTRY, ACADEMIC, AND GOVERNMENTAL PARTNERSHIPS TO FOSTER INNOVATION, COLLABORATION AND SUSTAINABLE ECONOMIC GROWTH.
-
THE PURPOSE OF THE PARK IS TO CONDUCT RESEARCH AND DEVELOPMENT THAT WILL PROMOTE CONCEPT AND PRODUCT DEVELOPMENT USING EMERGING TECHNOLOGIES IN A LABORATORY AND OPERATIONAL ENVIRONMENT. THE PARK IS A FOCAL POINT FOR INTERACTION AND INOVATION AMONG RESEARCHERS, ACADEMIC, GOVERNMENT, AND PRIVATE INDUSTRY IN DEVELOPING THE NEXT GENERATION AIR TRAFFIC CONTROL SYSTEM (NEXTGEN) WHICH IS CRITICAL TO OUR NATIONS AVIATION SYSTEM.
Expenses $1,249,525
As filed on the 2024 return.
Listed in Part VII
-
DR ANTHONY LOWMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
JOHN DANIELS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
ERIC NEIDERMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
TIM EDMUNDS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
CHRISTINA FUENTES
REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 2
-
IAN LEVITT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
STEPHEN MAZUR
REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 2
-
JOHN RISLEY
REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 2
-
DR ANNE HARLAN
BOARD EMERITUS
- Total calculated
- $0
- Hours/week
- 2
-
DR EDWARD H SALMON
BOARD EMERITUS
- Total calculated
- $0
- Hours/week
- 2
-
DR MICHAEL PALLADINO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
DR ALBERTO CUITINO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
KIM SCHALEK DOWNES
REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 2
-
DR BARBARA GABA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
FRANK LOBIONDO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
DR JOSEPH BERTOLINO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
DAVID SWEET
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
SHEILA SMALLWOOD
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
ERIC SCHEFFLER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
DR DOUGLAS STANLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
SAMUEL YOUNG
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
MARK LOEBEN
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
LAUREN MOORE
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
HOWARD KYLE
President
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 9 February 2026
- IRS schema version
- 2024v5.2
- Source object
- 202610499349300241
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