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Hgtc INC FY2021 filing

West Lafayette, INUnknown exempt organizationEIN 85-3370783Revenue $390K in FY2021

On file with the IRS101 Foundry Drive Suite 2500 · West Lafayette, IN

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To enhance awareness and to increase the resources available for expansion of research and development in the hypersonic ground testing industry in order to foster economic development and to position Hgtc, INC. And its members as global leaders in defense, hypersonic, air breathing reusable engines and aircraft, and airframe testing and to encourage and promote the business interests of these industries as a whole.

5¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average deficit $15K a year · 6% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
5%
of spending
Concern: 5% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$390K
Spent
$9K
To programs
5%
Net assets
$381K
By yearFY2021–FY2024
Revenue
$390K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$390K
FY2022$150K
FY2023$0
FY2024$391K
Expenses
$9K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$9K
FY2022$958K
FY2023$22K
FY2024$0
Net assets
$381K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$381K
FY2022−$427K
FY2023−$391K
FY2024$0

From the FY2021 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

5 cents of each dollar spent went to programs.

Program services 5% · $437 Management & general 95% · $8K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
David Cooper
Director
$0Pt VII · Sec A
Brian Hibbeln
Vice Chairpe
$0Pt VII · Sec A
Chad Pittman
Chairperson
$0Pt VII · Sec A
See Hgtc INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes hypersonic ground testing research and development to boost economic growth and global leadership.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Research and development in the hypersonic ground testing industry

Pt IX · col B

By the numbers

The FY2021 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$390K
Ln 12
Gifts and grantsLn 1h$390K
Money outPt IX
$9K
Ln 25
Programscol B$437
Managementcol C$8K
Owns and owesPt X
$381K
net assets · Ln 32
Cash and savingsLn 1–2$910
Total assetsLn 16$390K
LiabilitiesLn 26$10K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$390K
Total revenueLn 12$390K
Assets in detailPt X, end of year
CashLn 1$910
Cash and savings togetherLn 1–2$910
Total assetsLn 16$390K
LiabilitiesLn 26$10K
Net assetsLn 32$381K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$910
Total assetsLn 16$0$390K
LiabilitiesLn 26$0$10K
Net assetsLn 32$0$381K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$8K$8K
TravelLn 17$437$437
Other expenses (24a–d)Ln 24$200$200
Total functional expensesLn 25$9K$437$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $391K$0$391K$0 990 PDF
FY2023 $0$22K−$22K−$391K 990 PDF
FY2022 $150K$958K−$808K−$427K 990 PDF
FY2021 Viewing $390K$9K$381K$381K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $389,550 revenue, 12 lines filed
I-8 Contributions and grants$389,550
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$389,550
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$8,637
I-18 Total expenses$8,637
I-19 Revenue less expenses$380,913
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $389,550 across 3 lines filed
VIII-1f All other contributions, gifts and grants$389,550
VIII-1h Total contributions, gifts and grants$389,550
VIII-12 Total revenue$389,550
Part IX · Statement of functional expenses $8,637 across 3 lines filed
IX-11g Other fees for servicesManagement $8,000$8,000
IX-17 TravelPrograms $437$437
IX-24 Other expenses (24a–d)Management $200$200
IX-25 Total functional expensesPrograms $437 · Management $8,200 · Fundraising $0$8,637
Part X · Balance sheet $390,460 assets, 9 lines filed
X-1 Cash, non-interest-bearing$910
X-4 Accounts receivable$389,550
X-16 Total assetsStart of year $0$390,460
X-17 Accounts payable and accrued expenses$9,437
X-25 Other liabilities$110
X-26 Total liabilitiesStart of year $0$9,547
X-27 Net assets without donor restrictions$380,913
X-32 Total net assets or fund balancesStart of year $0$380,913
X-33 Total liabilities and net assetsStart of year $0$390,460
Part XI · Reconciliation of net assets $380,913 net assets at year end
XI-1 Total revenue$389,550
XI-2 Total expenses$8,637
XI-3 Revenue less expenses$380,913
XI-10 Net assets at end of year$380,913

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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