National Institute of Aerospace Associates

Analysis

National Institute of Aerospace Associates is a registered charity in United States, based in Hampton, VA. It received its IRS tax-exemption ruling in March 2003, 23 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, National Institute of Aerospace Associates reported income of $23.8m and spending of $23.9m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $36.1m to $23.8m (-34%), an average of -9.9% a year. The sharpest change came in the year to September 2020, when income dropped by 25%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, National Institute of Aerospace Associates sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Pacific Symphony ($23.7m), Sage Bionetworks ($23.9m) and Vivian Beaumont Theater Inc ($23.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 51% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $1.2m (5.2% of expenses). Other salaries and wages came to $9.1m. At year end it held assets of $17.9m against liabilities of $3.9m, net assets of $14.0m. It reported 141 employees.