International Aerospace Quality Group
- Assets
- $9.8m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 09/2017
- Data as of
- 12/2022
- EIN
- 98-1243515
Organization Overview
International Aerospace Quality Group is located in Washington, DC. The organization was established in 2017. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Aerospace Quality Group is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, International Aerospace Quality Group generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $3.3m during the year ending 12/2022. While expenses have increased by 6.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROTECT AND DEVELOP THE INTERNATIONAL INTERESTS OF THE AVIATION, SPACE AND DEFENSE INDUSTRIES THROUGH THE IMPLEMENTATION OF QUALITY MANAGEMENT SYSTEM. FEES AND ALL OTHER REVENUE WILL BE USED TO FURTHER THE PURPOSE OF THE IAQG. THE IAQG COMPRISES AVIATION, SPACE, AND DEFENSE COMPANIES, DIVIDED INTO THREE GEOGRAPHIC SECTORS: (1) THE AMERICAS, (2) EUROPE, AND (3) ASIA-PACIFIC. THE MISSION OF THE IAQG IS TO IMPLEMENT QUALITY INITIATIVES THAT MAKE IMPROVEMENTS THROUGHOUT THE VALUE STREAM OF PRODUCTS AND SERVICES. THE IAQG: - PROMOTES QUALITY CULTURE; - ESTABLISHES AND MAINTAINS QUALITY MANAGEMENT SYSTEM STANDARDS AND CERTIFICATION SYSTEM, RECOGNIZED BY INTERNATIONAL NORMALIZATION BODIES AND REGULATORY AND GOVERNMENTAL AGENCIES; - COLLECTS AND OFFERS BEST PRACTICES AND PROCESSES; - PROMOTES COOPERATION BETWEEN INTERNATIONAL AVIATION, SPACE AND DEFENCE COMPANIES; AND - MAINTAINS RELATIONSHIPS WITH REGULATORY AND GOVERNMENTAL AGENCIES AND OTHER INDUSTRY STAKEHOLDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IAQG SPONSORS A DATABASE, OASIS, IN WHICH SUPPLIERS IN THE AEROSPACE INDUSTRY WILL OBTAIN CERTIFICATION FROM APPROX. 80 CERTIFICATION BODIES WHO WILL UPLOAD THE CERTIFICATION INTO THE DATABASE. THE SUPPLIER THEN PAYS A CERTIFICATION FEE TO BE CARRIED IN THAT DATABASE OF CERTIFIED SUPPLIERS FOR CERTAIN SERVICES OR PRODUCTS AS NEEDED BY THOSE IN THE AEROSPACE INDUSTRY. MANUFACTURERS IN THE AEROSPACE INDUSTRY THEN WILL UTILIZE THIS DATABASE OF CERTIFIED SUPPLIERS. AS A PART OF THE MEMBERSHIP PAID TO IAQG, THE SUPPLIERS ALSO GAIN ACCESS TO CERTAIN HANDBOOKS, WEBSITE CONTENT, AND PUBLICATIONS.AS THE WORLDWIDE COVID-19 PANDEMIC GREW, THE IAQG TRANSITIONED IN PERSON AUDITS INTO THE DIGITAL REALM, UTILIZING REMOTE BASED VIDEO TOOLS SUCH AS ZOOM AND MICROSOFT TEAMS. THROUGH THE USE OF THESE TOOLS, ALONG WITH ADJUSTMENTS MADE IN AUDITING SCHEDULES AND TECHNIQUES, WE LEARNED NEW AND CREATIVE WAYS TO ENGAGE WITH OUR STAKEHOLDERS, WHILE MAINTAINING THE HIGH STANDARDS THAT THE AEROSPACE INDUSTRY HAS COME TO EXPECT. OUR MISSION TO CONSTANTLY IMPROVE THE LEVEL OF QUALITY AND SERVICES WITHIN THE AEROSPACE INDUSTRY, CONTINUED TO BE EFFECTIVELY ADMINISTERED AND MONITORED DESPITE THE SIGNIFICANT LOGISTICAL CHALLENGES FACED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Maher President | OfficerTrustee | 3.5 | $0 |
Fortunato Giardina European Sector Chair | OfficerTrustee | 3.5 | $0 |
Eric Jefferies Americas Sector Chair | OfficerTrustee | 3.5 | $0 |
Susie Neal Exited 0622 Americas Sector Chair | OfficerTrustee | 3.5 | $0 |
Yuji Okamoto Exited 0622 Asia-Pacific Sector Chair | OfficerTrustee | 4.5 | $0 |
Suguru Watanabe Entered 0622 Asia-Pacific Sector Chair | OfficerTrustee | 3.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Intact Usa Coord. & Dev. Of Oasis V3 | 12/30/22 | $649,813 |
Atlas Marketing Digital Comm. Architect | 12/30/22 | $327,119 |
Jaspin Interactive Llc Software Support Services | 12/30/22 | $237,461 |
Sae International Support Services | 12/30/22 | $210,864 |
Stride Strategig Group Ltd Treasury, Accounting, Customer Service | 12/30/22 | $171,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,667,435 |
| Investment income | $102,265 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,101 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$77,218 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,697,583 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $102,839 |
| Fees for services: Accounting | $178,018 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,818 |
| Fees for services: Other | $1,535,486 |
| Advertising and promotion | $0 |
| Office expenses | $18,775 |
| Information technology | $481,236 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $159,460 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $374,589 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,334 |
| All other expenses | $8,181 |
| Total functional expenses | $3,299,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,703,461 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $462,488 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $94,890 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,574,533 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,835,372 |
| Accounts payable and accrued expenses | $126,216 |
| Grants payable | $0 |
| Deferred revenue | $5,797,339 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,923,555 |
| Net assets without donor restrictions | $3,911,817 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,835,372 |