Overview
What is Aerospace & Defense Diversification In Peacetime Transition Inc?
Aerospace & Defense Diversification In Peacetime Transition Inc, established in 1991, is a nonprofit organization that emerged in response to substantial cuts in defense spending by the U.S. Federal Government. Originally, it was a collaborative effort comprised of technologically advanced aerospace and defense companies from across New York State. The organization's mission, as suggested by its name, focuses on promoting diversification within the aerospace and defense sectors during periods of peace. The specific activities or objectives of ADDAPT, as stated in the information, were not provided.
Is Aerospace & Defense Diversification In Peacetime Transition Inc legitimate?
Aerospace & Defense Diversification In Peacetime Transition Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Aerospace & Defense Diversification In Peacetime Transition Inc submitted a form 990EZ, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Aerospace & Defense Diversification In Peacetime Transition Inc?
Aerospace & Defense Diversification In Peacetime Transition Inc, established in 1991, was formed as a response to substantial cuts in defense spending by the Federal Government. Originally, it was an alliance of tech-oriented aerospace and defense companies from various locations in New York. The organization's mission was not explicitly stated in the provided information, but its inception suggests an initiative to aid these companies in diversifying their operations beyond the defense sector during times of peace.
What is the revenue of Aerospace & Defense Diversification In Peacetime Transition Inc?
Aerospace & Defense Diversification In Peacetime Transition Inc's revenue in 2023 was $91,501.
Who are the executives of Aerospace & Defense Diversification In Peacetime Transition Inc and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990EZ for Aerospace & Defense Diversification In Peacetime Transition Inc?
Aerospace & Defense Diversification In Peacetime Transition Inc's most recent form 990EZ was submitted in 2023 and can be accessed here.
Mission Statement of Aerospace & Defense Diversification In Peacetime Transition Inc
Aerospace & Defense Diversification In Peacetime Transition Inc, established in 1991, was formed as a response to substantial reductions in defense spending by the Federal Government. Originally, this organization was an alliance of technologically advanced aerospace and defense companies situated across the state of New York. While the mission description provided is brief, it implies that the organization's primary objective was to adapt and support these companies during a period of significant change in the defense industry due to government budget cuts.
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Impact
October, 2024
Aerospace & Defense Diversification In Peacetime Transition Inc (ADDAPT) plays a crucial role in facilitating the transition and diversification of aerospace and defense companies in response to reductions in federal defense spending. By fostering collaboration among technology-based firms throughout New York, ADDAPT helps to mitigate the economic impact of these budget cuts on the local industry.
The organization supports companies in exploring new markets, thereby reducing their dependency on defense contracts. This diversification is vital for maintaining economic stability and innovation within the aerospace and defense sectors during peacetime. ADDAPT’s initiatives contribute to community improvement by promoting workforce development, providing resources for research and development, and facilitating partnerships that encourage the growth of alternative applications for existing technologies.
Furthermore, ADDAPT's efforts enhance the competitive edge of member companies by encouraging investment in new technologies and encouraging cross-industry collaboration. In essence, the organization ensures that the aerospace and defense sector remains resilient and adaptable in changing economic climates while fostering a sustainable environment for future growth.
This information is meant to be a general summary of Aerospace & Defense Diversification In Peacetime Transition Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $9
- Gross Receipts: $151,809
Assets and Liabilities:
- Total Assets: $49,122
- Total Liabilities: $855
- Net Assets: $48,267
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Organization Details
Principal Officer
Michael Violano
NTEE Category
Code: S40 - Community improvement
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