2026-05-15T18:12:15-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 121 SOUTH TEJON STREET SUITE 1100 COLORADO SPRINGS CO 80903 990 2024-07-01 530261213 VERTICAL AVIATION INTERNATIONAL INC VERT 7036834646 1920 BALLENGER AVENUE ALEXANDRIA VA 22314 FRANCOIS LASSALE PRESIDENT & CEO 7036834646 2026-05-15 1 1 SARAH HINTZ P00492291 7196350330 2026-05-15 2024 2025-03-06 01:10:19Z FRANCOIS LASSALE 1920 BALLENGER AVENUE ALEXANDRIA VA 22314 22927966 0 X WWW.VERTICALAVI.ORG X 1988 DE TO PROVIDE VERTICAL AVIATION OPERATIONS, SAFETY, AND ENCOURAGE PROFESSIONALISM. 9 9 42 12 1271576 0 246278 240202 14479522 16045894 1526110 1230701 3176764 3272035 19428674 20788832 202888 31100 0 0 6535168 6015656 0 0 0 13183611 12403047 19921667 18449803 -492993 2339029 60141215 58272088 36806952 34529043 23334263 23743045 X INTERNATIONALLY REPRESENT ALL ASPECTS OF THE VERTICAL TAKE-OFF & LANDING (VTOL) INDUSTRY. BE THE LEADING GLOBAL VOICE IN PROMOTING SAFETY, COMMUNITY COMPATIBILITY, PROFESSIONALISM, INNOVATION, AND THE ECONOMIC VIABILITY OF THE INDUSTRY. 0 0 CONFERENCES AND TRADE SHOWS: SUPPORT THE GLOBAL VTOL INDUSTRY BY PROVIDING FORUMS WHERE HELICOPTER PROFESSIONALS CAN GATHER TO CONDUCT BUSINESS; SHOWCASE PRODUCTS, SERVICES, AND TECHNOLOGY; EXCHANGE INFORMATION, BEST PRACTICES, AND IDEAS; TAKE ADVANTAGE OF PROFESSIONAL EDUCATION OPPORTUNITIES; PARTICIPATE IN CAREER DEVELOPMENT AND JOB SEARCH ACTIVITIES; COLLABORATE TO IMPROVE AND PROMOTE INDUSTRY SAFETY AND TO ADDRESS OTHER INDUSTRY ISSUES; AND NETWORK WITH PEERS. VAI'S ANNUAL CONFERENCE AND TRADE SHOW, VAI VERTICON, IS THE WORLD'S LARGEST VTOL SHOW. VAI ALSO PRESENTS AN ANNUAL AERIAL WORK SAFETY CONFERENCE THAT SUPPORTS THE FIREFIGHTING, UTILITY PATROL AND CONSTRUCTION, AND RESTRICTED-CATEGORY AIRCRAFT SECTORS, AS WELL AS MEETINGS TO SUPPORT ADDITIONAL INDUSTRY SECTORS, SUCH AS ADVANCED AIR MOBILITY. VAI GLOBAL PROGRAM COORDINATES WORLDWIDE INDUSTRY COLLABORATION TO MAINTAIN AND ENHANCE SAFETY AND ECONOMIC VIABILITY OF THE INTERNATIONAL VERTICAL AVIATION INDUSTRY. MEMBERSHIP: PROVIDE VAI MEMBERS WITH SERVICES THAT DIRECTLY BENEFIT THEIR OPERATIONS AND ADVANCE THE INTERNATIONAL HELICOPTER INDUSTRY BY PROVIDING PROGRAMS THAT ENHANCE SAFETY AND ENCOURAGE PROFESSIONALISM AND ECONOMIC VIABILITY WHILE PROMOTING THE UNIQUE CONTRIBUTIONS VERTICAL FLIGHT OFFERS TO SOCIETY. EXCLUSIVE VAI MEMBER BENEFITS INCLUDE: DIRECT ACCESS TO VAI TECHNICAL, REGULATORY, AND LEGISLATIVE STAFF; MEMBERSHIP IN VAI WORKING GROUPS; LEGISLATIVE RESOURCES AND UPDATES; VISIBILITY FOR MEMBER COMPANY NEWS IN ROTOR MEDIA; MEMBER COMPANY EMPLOYMENT LISTINGS ON VAI PARTNER'S JOB BOARD; PROGRAMS TO ELEVATE MEMBER COMPANY'S LEVEL OF SAFETY, INCLUDING SMS, ASAP, AND FRAT PROGRAMS; AND DISCOUNTS ON ATTENDING OR EXHIBITING AT VAI EVENTS, ON VAI EDUCATION COURSES, OR ON ADVERTISING IN VAI MEDIA. GOVERNMENT AFFAIRS: VAI IS DEDICATED TO PROMOTING VERTICAL FLIGHT AS A SAFE, EFFECTIVE TOOL FOR BUSINESS AND TO ADVANCING THE INTERNATIONAL ROTORCRAFT COMMUNITY, WHICH INCLUDES HELICOPTERS, TILTROTORS, VERTICAL-LIFT UNMANNED AIRCRAFT SYSTEMS, AND THE DEVELOPING FIELD OF ADVANCED AIR MOBILITY. VAI ADVOCATES FOR EXPANDING THE USE OF VERTICAL FLIGHT, ON BEHALF OF OUR MEMBERS AND FOR THE BENEFIT OF SOCIETY, WITH LEGISLATORS, REGULATORS, AND GOVERNMENT AGENCIES AROUND THE WORLD. VAI'S DILIGENT WORK AGAINST BURDENSOME REGULATIONS AND ADVOCATING TO ENSURE A SAFE, SUSTAINABLE, AND ECONOMICALLY VIABLE FUTURE FOR OUR INDUSTRY IS AT THE FOREFRONT OF EVERYTHING WE DO. 0 1 0 1 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 68 0 1 42 1 1 1 0 0 0 1 1 0 0 0 X 9 9 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X FRANCOIS LASSALE 7036834646 1920 BALLENGER AVENUE ALEXANDRIA VA 22314 MARK A SCHLAEFLI CHAIR 1.00 1.00 X X 0 0 0 BRIAN JORGENSON VICE CHAIR 1.00 1.00 X X 0 0 0 RICK KENIN TREASURER 1.00 1.00 X X 0 0 0 PAUL GOTTWIG ASSISTANT TREASURER 1.00 1.00 X X 0 0 0 MILLER STALLINGS DIRECTOR 1.00 1.00 X 0 0 0 STACY SHEARD DIRECTOR 1.00 1.00 X 0 0 0 RANDY ROWLES DIRECTOR 1.00 1.00 X 0 0 0 DAVID MCCOLL DIRECTOR 1.00 1.00 X 0 0 0 NICOLE BATTJES DIRECTOR 1.00 1.00 X 0 0 0 SARAH ARNOLD CORPORATE SECRETARY 40.00 1.00 X 177419 0 22900 JAMES VIOLA THRU 32025 PRESIDENT & CEO 40.00 1.00 X 739064 0 32637 CHRISTOPHER MARTINO VP OF OPERATIONS 40.00 1.00 X 216788 0 26529 CADE CLARK VP OF GOVERNMENT AFFAIRS 40.00 1.00 X 266266 0 12496 MICHAEL HERTZENDORF CHIEF OPERATING OFFICER 40.00 1.00 X 280031 0 28622 DANIEL SWEET THRU 122024 DIRECTOR OF PUBLIC RELATIONS 40.00 1.00 X 187540 0 22150 REGINA KVITOVICH DIRECTOR OF PUBLICATIONS 40.00 1.00 X 195200 0 23912 CHRISTOPHER HILL DIRECTOR OF SAFETY 40.00 1.00 X 200252 0 24928 CHARLOTTE ZILKE SR DIRECTOR OF CONVENTIONS 40.00 1.00 X 201001 0 24091 JOSHUA ROUSSEAU NE REGIONAL REPRESENTATIVE 40.00 1.00 X 152200 0 4717 2615761 0 222982 22 0 1 0 THE WYMAN COMPANY PO BOX 358780 GAINESVILLE FL 32635 CONSULTING SERVICES 377230 VLINC CORPORATION 3100 W RAY ROAD STE 20 CHANDLER AZ 85226 CONSULTING SERVICES 328385 KMA ZUCKERT LLC 200 WEST MADISON ST STE 1600 CHICAGO IL 60606 LEGAL SERVICES 173228 CLIFTONLARSONALLEN LLP 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 ACCOUNTING SERVICES 160154 CROWN CONSULTING INC 1530 WILSON BLVD STE 900 ARLINGTON VA 22209 CONSULTING SERVICES 118410 8 50000 190202 240202 CONVENTION 900099 13713121 13713121 MEMBERSHIP DUES 900099 1410126 1410126 PUBLICATION SALES 541800 644258 131220 513038 PROGRAM INCOME 900099 278389 278389 16045894 1283974 1283974 9503 9503 3109781 0 3109781 3109781 758538 2351243 1827733 258128 1793750 345384 33983 -87256 -53273 -53273 PARKING AGREEMENT 900099 152555 152555 196 196 152751 20788832 15532856 1271576 3744198 X 31100 1464414 3611451 191866 403217 344708 454041 189543 6226 2663308 287589 961940 792781 931403 2241247 695993 1987520 260222 DUES & SUBSCRIPTIONS 581047 TAXES & LICENSES 350187 18449803 1505410 3688121 198270 373492 423027 343247 24998945 12437568 13821219 12561377 8727580 8980046 9834130 8694344 25631579 23631461 60141215 58272088 1335190 907560 2694559 4123345 9545096 8444332 1400000 500000 21832107 20553806 36806952 34529043 X 23334263 23716345 26700 23334263 23743045 60141215 58272088 X 2339029 -213446 -1716801 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 1410126 320000 -439215 -119215 408116 -527331 2500000 2500000 16594921 12437568 4157353 5365365 5365365 277667 277667 260992 260992 12561377 VAI INVESTMENT IN SUBSIDIARY 8694344 F 8694344 DEFERRED COMPENSATION LIABILITIES 359636 REAL ESTATE COMMISSIONS 714487 RENT RECEIVABLES 3544800 INTEREST RATE SWAP 857994 RIGHT-OF-USE-ASSETS 18154544 23631461 DEFERRED COMPENSATION LIABILITIES 359636 SECURITY DEPOSITS 134044 LEASE LIABILITY - OPERATING LEASE 20060126 20553806 X 20232359 -213446 -336801 -550247 20782606 6226 6226 20788832 18443577 0 18443577 6226 6226 18449803 PART X, LINE 2: THE ORGANIZATION REVIEWS AND ASSESSES ALL ACTIVITIES ANNUALLY TO IDENTIFY ANY CHANGES IN THE SCOPE OF THE ACTIVITIES AND REVENUE SOURCES AND THE TAX TREATMENT THEREOF TO IDENTIFY ANY UNCERTAINTY IN INCOME TAXES. FOR THE YEARS ENDED JUNE 30, 2025 AND 2024, NO PROVISION FOR INCOME TAXES WAS MADE, AS THE ORGANIZATION HAD NO TAXABLE NET UNRELATED BUSINESS INCOME AND DID NOT IDENTIFY ANY UNCERTAINTY IN INCOME TAXES REQUIRING RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP -336,801. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES PRODUCE EUROPEAN ROTORS CONFERENCE AND PROGRAM 386119 0 0 0 0 0 0 386119 0 386119 0 0 0 0 0 0 PART I, LINE 3: EXPENDITURES ARE ACCOUNTED FOR UNDER THE ACCRUAL BASIS OF ACCOUNTING. 1 SCHOLARSHIPS 10 31100 PART I, LINE 2: THE ORGANIZATION MONITORS THE USE OF DONATIONS DESIGNATED FOR SCHOLARSHIPS THROUGH THE FOLLOWING PROCEDURES. DONATIONS ARE RECEIVED AND RECORDED IN THE APPROPRIATE CONTRIBUTIONS ACCOUNT, AND THE DIRECTOR RESPONSIBLE FOR THE SCHOLARSHIP PROGRAM IS NOTIFIED OF ALL RECEIPTS. SCHOLARSHIP TRACKING REPORTS ARE UPDATED TO REFLECT INCOMING RESTRICTED DONATIONS. THE DIRECTOR OVERSEES THE ADMINISTRATION OF SCHOLARSHIPS, INCLUDING VERIFICATION OF RECIPIENT ELIGIBILITY FOR PRE-ESTABLISHED SCHOLARSHIP PROGRAMS. WHEN DONATION LEVELS SUPPORT THE CREATION OF NEW SCHOLARSHIPS, PROPOSED SCHOLARSHIPS ARE REVIEWED AND APPROVED BY MANAGEMENT PRIOR TO IMPLEMENTATION. X 1 1 X X X X 0 0 0 JAMES VIOLA THRU 32025 PRESIDENT & CEO 739064 0 0 0 0 0 16874 0 15763 0 771701 0 23000 0 MICHAEL HERTZENDORF CHIEF OPERATING OFFICER 280031 0 0 0 0 0 35388 0 16497 0 331916 0 22984 0 CADE CLARK VP OF GOVERNMENT AFFAIRS 266266 0 0 0 0 0 12496 0 13547 0 292309 0 16500 0 CHRISTOPHER MARTINO VP OF OPERATIONS 216788 0 0 0 0 0 9844 0 17030 0 243662 0 0 0 CHRISTOPHER HILL DIRECTOR OF SAFETY 180052 0 20200 0 0 0 9643 0 15285 0 225180 0 0 0 CHARLOTTE ZILKE SR DIRECTOR OF CONVENTIONS 201001 0 0 0 0 0 8883 0 15208 0 225092 0 300 0 REGINA KVITOVICH DIRECTOR OF PUBLICATIONS 195200 0 0 0 0 0 8748 0 15164 0 219112 0 0 0 DANIEL SWEET THRU 122024 DIRECTOR OF PUBLIC RELATIONS 187540 0 0 0 0 0 7277 0 14873 0 209690 0 0 0 SARAH ARNOLD CORPORATE SECRETARY 177419 0 0 0 0 0 7780 0 15120 0 200319 0 0 0 JOSHUA ROUSSEAU NE REGIONAL REPRESENTATIVE 152200 0 0 0 0 0 0 0 4717 0 156917 0 0 0 PART I, LINE 1A ALL TRAVEL WITHIN THE CONTINENTAL UNITED STATES AND NORTH AMERICA, INCLUDING CANADA AND MEXICO, MUST BE BOOKED IN COACH/ECONOMY CLASS UNLESS TOTAL TRAVEL TIME EQUALS OR EXCEEDS SIX HOURS. FOR TRAVEL EXCEEDING SIX HOURS, BUSINESS CLASS AIRFARE MAY BE AUTHORIZED; IF BUSINESS CLASS IS UNAVAILABLE, FIRST-CLASS AIRFARE MAY BE PERMITTED. THE ORGANIZATION ONLY REIMBURSES OR PAYS FOR EMPLOYEE BUSINESS TRAVEL. SPOUSAL OR COMPANION TRAVEL IS NOT PERMITTED AT THE ORGANIZATION'S EXPENSE. IF TRAVEL ARRANGEMENTS ARE MADE THAT INCLUDE BOTH EMPLOYEE AND SPOUSE TICKETS PURCHASED TOGETHER (APPROVAL REQUIRED), THE EMPLOYEE IS REQUIRED TO REIMBURSE THE ORGANIZATION FOR THE SPOUSE'S PORTION OF THE AIRFARE AND RELATED TRAVEL COSTS FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE CHAIRPERSON, VICE CHAIRPERSON, TREASURER, AND THE ASSISTANT TREASURER. THE EXECUTIVE COMMITTEE IS EMPOWERED TO ACT ON BEHALF OF THE BOARD OF DIRECTORS BETWEEN BOARD MEETINGS BUT MUST REPORT ALL ACTIONS TAKEN TO THE BOARD OF DIRECTORS. IT IS THE RESPONSIBILITY OF THE EXECUTIVE COMMITTEE TO, WHEN NECESSARY, LEAD SEARCH AND HIRING EFFORTS FOR A NEW PRESIDENT, ASSESS THE PERFORMANCE OF THE PRESIDENT AND ESTABLISH HIS/HER ANNUAL COMPENSATION. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION HAS 4 CLASSES OF MEMBERS. VERTICAL AIRCRAFT OPERATORS, HONORARY, MANUFACTURERS & SUPPLIERS, AND INDIVIDUAL MEMBERS. ONLY VA OPERATOR MEMBERS IN GOOD STANDING SHALL BE ENTITLED TO CAST ONE VOTE AT ANY ANNUAL OR SPECIAL MEETING. HONORARY, MANUFACTURERS & SUPPLIERS, AND INDIVIDUAL MEMBERS SHALL HAVE ALL OTHER PRIVILEGES OF THEIR RESPECTIVE CLASSES OF MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE ASSOCIATION HIRES AN INDEPENDENT ACCOUNTING FIRM TO PREPARE FORM 990. UPON SUBMISSION OF THE DRAFT FORM 990, IT IS REVIEWED BY THE PRESIDENT AND CEO. THE FEDERAL FORM 990 IS THEN APPROVED AND FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS ANNUALLY REVIEWS THE CONFLICT-OF-INTEREST POLICY AND DISCLOSES AND POTENTIAL CONFLICT OF INTEREST. ALL STAFF AND MEMBERS OF THE BOARD OF DIRECTORS OF THE ASSOCIATION SIGN A CONFLICT-OF-INTEREST DISCLOSURE STATEMENT ANNUALLY. THE SIGNED DOCUMENTS ARE REVIEWED BY THE PRESIDENT AND CEO AND GENERAL COUNSEL AND KEPT BY THE CORPORATE SECRETARY. THE CONFLICT-OF-INTEREST POLICY IS ALWAYS TAKEN INTO CONSIDERATION WHEN THERE IS THE POTENTIAL FOR CONFLICT, PARTICULARLY AS A CONDITION FOR HIRING OR BEGINNING NEW RELATIONSHIP. IF A CONFLICT-OF-INTEREST EXISTS, THE PRESIDENT AND CEO WILL DETERMINE THE APPROPRIATE STEPS TO BE TAKEN UNDER THE CIRCUMSTANCES. POSSIBLE STEPS INCLUDE, BUT ARE NOT LIMITED TO, REQUIRING THE INTERESTED EMPLOYEE TO REFRAIN FROM PARTICIPATING IN ANY DECISION OR POLICY MAKING IN A PENDING MATTER RELATING TO THE CONFLICTING INTEREST: REQUIRING THE EMPLOYEE TO DIVEST THEMSELF OR HERSELF OF THE CONFLICTING INTEREST: OR, SUFFICIENTLY SERIOUS SITUATIONS, TERMINATION OF EMPLOYMENT. FORM 990, PART VI, SECTION B, LINE 15 THE ASSOCIATION EXTENSIVELY USES SALARY SURVEYS AND INDEPENDENT REVIEWS BY OUTSIDE COMPENSATION PROFESSIONALS TO DETERMINE THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES. EACH YEAR, THE BOARD OF DIRECTORS IS PRESENTED WITH AND ASKED TO GIVE APPROVAL TO ANY PROPOSED AGGREGATE SALARY INCREASE AND IT IS DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION KEEPS ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ON FILE AT THE HEADQUARTERS BUILDING AND MAKES THEM AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST WITHIN THE LIMITS OF THE LAW. FORM 990, PART IX, LINE 11G CONSULTANTS 2,003,328. PROFESSIONAL FEES 659,980. FORM 990, PART XI, LINE 9: MEMBER DISTRIBUTION -1,380,000. UNREALIZED LOSS ON INTEREST RATE SWAP -336,801. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. VAI 1920 BALLENGER LLC 1920 BALLENGER AVENUE ALEXANDRIA VA 223142898 454893447 TO OWN AND OPERATE MIXED USE BUILDING DE 3203715 17330603 VERTICAL AVIATION INTERNATIONAL VAI FOUNDATION 1920 BALLENGER AVENUE ALEXANDRIA VA 223142898 521297129 TO PRESERVE AND PROMOTE HELICOPTER HISTORY AND EDUCATION DC 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0