Vertical Lift Consortium Inc in N Charleston, South Carolina (SC)

Table of contents:

Organization representatives - add corrected or new information about Vertical Lift Consortium Inc »

Non-representatives - add comments about Vertical Lift Consortium Inc»

Vertical Lift Consortium Inc
Employer Identification Number (EIN)770408604
Name of OrganizationVertical Lift Consortium Inc
In Care of NameRande Vause
Address5300 International Blvd, N Charleston, SC 29418-6937
ActivitiesBusiness promotion (chamber of commerce, business league, etc.), Research, development and testing
SubsectionBoard of Trade
Ruling Date11/1995
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$3,272,334
Amount of Income$688,557
Form 990 Revenue Amount$688,557
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Promotion of Business


Non-representatives - add comments:


CAPTCHA

Your IP address 54.166.128.254 will be logged.

Amount of income in 2011: $688,557
This organization: 

 $688,557
Other organizations performing similar types of work: 

 $1,075,112

Assets in 2011: $3,272,334
Vertical Lift Consortium Inc: 

 $3,272,334
Other organizations performing similar types of work: 

 $1,234,647

Expenses in 2007: $475,226
Vertical Lift Consortium Inc: 

 $475,226
Other organizations performing similar types of work: 

 $899,741

Income to expenses ratio in 2007: 1.4
This organization: 

 1.4
Other organizations performing similar types of work: 

 1.0

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022003200420062007
Total revenue$397,907$391,079$396,490$498,103$488,542$687,066$675,848
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$229,200$191,780
Membership dues and assessments$390,300$386,300$387,300$487,800$481,600$434,800$461,200
Interest on savings and temporary cash investments$7,607$4,779$3,201$3,806$4,707$12,756$22,868
Dividends and interest from securities$0$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$0$0$5,989$6,497$2,235$10,310$0
Total expenses$429,931$370,762$401,204$381,370$342,565$800,306$475,226
Program services$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$-11,124$3,644$-1,070$115,663$261,640$217,370$417,992
Excess or (deficit) for the year$-32,024$20,317$-4,714$116,733$145,977$-113,240$200,622
Net assets or fund balances at beginning of year$20,900$-11,124$3,644$-1,070$115,663$330,610$217,370
Other changes in net assets or fund balances$0$-5,549$0$0$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$475,226$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$282,500$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$3,400$0$0$0
Legal fees$60,213$0$0$0
Supplies$5,186$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$9,575$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$31,462$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$82,890$0$0$0
Balance Sheets
2000200120022003200420062007
Total assets$449,898$1,328,771$1,435,658$1,087,619$1,422,509$1,260,692$3,126,875
Cash - non-interest-bearing$112,059$13,770$0$2,555$318,881$495,427$211,981
Savings and temporary cash investments$39,244$229,869$417,740$501,103$1,028,786$0$559,753
Accounts receivable less allowance for doubtful accounts$0$61,082$41,000$581,277$73,726$765,265$2,355,141
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$295,502$1,020,575$973,438$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$3,093$3,475$3,480$2,684$1,116$0$0
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Other assets, including program-related investments$0$0$0$0$0$0$0
Total liabilities$461,022$1,325,127$1,436,728$971,956$1,160,869$1,043,322$2,708,883
Accounts payable and accrued expenses$53,496$304,552$227,424$971,956$943,469$1,043,322$2,708,883
Grants payable$407,526$1,020,575$973,438$0$0$0$0
Deferred revenue$0$0$219,400$0$217,400$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0
Other liabilities$0$0$16,466$0$0$0$0
Total liabilities and net assets/fund balances$449,898$1,328,771$1,435,658$1,087,619$1,422,509$1,260,692$3,126,875
Total net assets or fund balances$-11,124$3,644$-1,070$115,663$261,640$217,370$417,992
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022003200420062007
Total revenue$0$0$0$498,103$488,542$687,066$675,848
Total revenue, gains, and other support per audited financial statements$0$0$0$498,103$488,542$687,066$675,848
Other expenses$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022003200420062007
Total expenses$0$0$0$381,370$342,565$800,306$475,226
Total expenses and losses per audited financial statements$0$0$0$381,370$342,565$800,306$475,226
Other revenue$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
99$144,000$0$0
99$138,500$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings6
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$675,848
Program service revenue
Program service revenue 1000000$000$0$161,236
Program service revenue 2000000$000$0$5,938
Program service revenue 3000000$000$0$24,606
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$461,200
Interest on savings and temporary cash investments000000$000$0$22,868
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
1999200020012002200320052006
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$688,557
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$686,775
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,782
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$612,949
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$325,719
Payroll taxes$0
Professional fundraising services$0
Other$287,230
Balance Sheet (for 2011)
Total assets$3,272,334
Total liabilities$2,739,078
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$2,739,078
Total net assets or fund balances$533,256
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
Write your review!

Your Ratings

You can rate this nonprofit in different categories from 1 star (worst) to 5 stars (best) or leave category unrated

Program:
Fundraising:
Expenses:
Transparency:

Your Review


Would you recommend Vertical Lift Consortium Inc to others? (optional)
  
Add photo of Vertical Lift Consortium Inc (optional)

About You

Your nickname:

Optional Verification

(additional info to increase the weight and the placement of your review and ratings)

Sign in with Twitter
Real Name:
Email (won't be published):
Date and time of your visit to this nonprofit:
Phone number (won't be published):
Leave your signature»

Sweepstakes

Special limited-time promotion! Submit your review for a chance to win $500 in our sweepstakes!



Your email address (you will not be contacted unless you win, we do not sell your email address or send any spam):


Recently Added Reviews
Elford Theological Bible College in Lake View, SC
*****
Eau Claire Development Corporation in Columbia, SC
*****
Calvary Chapel Of Lexington in Lexington, SC
Bullock Creek Cowboy Church in Sharon, SC
*****
Great Falls Rescue Squad in Great Falls, SC
*****
South Carolina Lions Charitable Services in Columbia, SC
*****
Bowman First Baptist Church in Bowman, SC
East Conway Ph Church in Conway, SC
*****
Ladies First And Ii Hype Dance Drill And Gospel Team Of Pacoima in Pacoima, CA
**
Miles Christi in Northville, MI
***
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Financial Industry Regulatory Authority Inc9509 Key West Ave, Rockville, MD 20850-3329MD1937-06$3,362,000,742
2Finra Regulation Inc9509 Key West Ave, Rockville, MD 20850-3329MD1997-05$715,973,148
3Securities Investor Protection Corporation805 15th St Nw Ste 800, Washington, DC 20005-2207DC1971-06$452,451,011
4Cfa Institute560 Ray C Hunt Dr, Charlottesvle, VA 22903-2981VA1986-12$335,255,446
5American Petroleum Institute1220 L St Nw, Washington, DC 20005-4018DC1938-04$334,184,007
6American Institute Of Certified Public Accountants220 Leigh Farm Rd, Durham, NC 27707-8110NC1953-04$264,813,755
7Pharmaceutical Research And Manufacturers Of America950 F St Nw Ste 300, Washington, DC 20004-1440DC1959-02$208,097,578
8Chamber Of Commerce Of The United States Of America1615 H St Nw, Washington, DC 20062-0001DC1940-11$151,732,569
9National Association Of Home Builders Of The United States, Seperate Entity Donot Merge-Cnsldt1201 15th St Nw, Washington, DC 20005-2899DC1997-08$120,686,990
10American Beverage Association1101 16th Street Nw, Washington, DC 20036-4803DC1939-02$115,492,215
11Myrtle Beach Area Chamber Of Commerce1200 N Oak St, Myrtle Beach, SC 29577-3558SC1984-04$36,626,043
12Myrtle Beach Golf Holiday3901 N Kings Highway Suite 22-B, Myrtle Beach, SC 29577-2736SC1984-04$7,140,947
13Textile Hall CorpGreenville, SC 29606SC$5,940,439
14Hilton Head Island Bluffton Chamber Of CommercePO BOX 5647, Hilton Head, SC 29938-5647SC1958-04$5,348,921
15Charleston Regional Development Alliance5300 International Blvd Ste 103, Charleston, SC 29418-6937SC1996-02$2,978,802
16South Carolina Association Of Certified Public Accountants570 Chris Dr, West Columbia, SC 29169-4602SC1964-03$1,972,264
17South Carolina Automobile And Truck Dealers Association526 Hampton St, Columbia, SC 29201-2718SC1942-03$1,913,858
18Home Builders Association Of Columbia625 Taylor Street, Columbia, SC 29201-2764SC1963-03$1,156,437
19Vertical Lift Consortium Inc5300 International Blvd, N Charleston, SC 29418-6937SC1995-11$688,557
20South Carolina Jewelers Association113 Park Shore Drive East, Columbia, SC 29223SC1990-01$41,936
Number of organizations performing similar types of work
Alaska1
Alabama14
Arkansas10
Arizona16
California106
Colorado19
Connecticut11
District of Columbia76
Delaware7
Florida53
Georgia30
Hawaii5
Iowa18
Idaho2
Illinois81
Indiana24
Kansas13
Kentucky10
Louisiana15
Massachusetts26
Maryland26
Maine3
Michigan31
Minnesota26
Missouri27
Mississippi11
Montana5
North Carolina39
North Dakota1
Nebraska5
New Hampshire6
New Jersey28
New Mexico5
Nevada8
New York89
Ohio41
Oklahoma12
Oregon18
Pennsylvania48
Rhode Island4
South Carolina11
South Dakota9
Tennessee20
Texas75
Utah4
Virginia107
Vermont5
Washington25
Wisconsin20
West Virginia8
Wyoming3
International5
Total1,262

faqs.org is not associated with, endorsed by, or sponsored by Vertical Lift Consortium Inc and has no official or unofficial affiliation with Vertical Lift Consortium Inc