Overview
What is The Wright Brothers Institute Inc?
The Wright Brothers Institute Inc, based in Dayton, Ohio, is a nonprofit organization dedicated to fostering world-class research and development through collaboration among academia, industry, and government. They drive innovative approaches to address emerging needs and opportunities, supporting regional economic development in the process. Their mission revolves around accelerating collaborative innovation solutions for Air and Space Forces and other stakeholders by leveraging subject matter experts, collaborative environments, disruptive innovation processes, and partner networks. The institute's team consists of 40 employees.
Official website here: www.wrightbrothersinstitute.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81% - Three-Star out of Four Star rating.
The Wright Brothers Institute Inc has achieved an 81% rating from Charity Navigator, reflecting a solid level of accountability and financial oversight. The organization excels in various areas, notably maintaining an independent board with all members meeting the criteria for independence, as well as having effective audit and oversight mechanisms. The high program expense ratio of 85.76% indicates that a significant portion of its resources is directed toward its programs.
Strengths include a comprehensive set of policies addressing conflicts of interest, whistleblower protections, and document retention, all of which contribute to transparency and good governance practices. The organization demonstrates a commitment to ethical operations, as evidenced by its zero material diversions of assets and the inclusion of board meeting minutes in its documentation.
However, the salaries of key personnel might be viewed as high relative to some nonprofit benchmarks, which could raise questions about compensation practices. While the overall financial health appears robust, continued focus on cost management and public perception of executive compensation will be essential for maintaining donor trust and support.
This AI summary has been generated from information found on Charity Navigator.
Is The Wright Brothers Institute Inc legitimate?
The Wright Brothers Institute Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Wright Brothers Institute Inc submitted a form 990, 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,093,325
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,152,035
For more financial information, click here
Official website here: www.wrightbrothersinstitute.org
What is the mission statement of The Wright Brothers Institute Inc?
The Wright Brothers Institute functions as a catalyst for collaborative innovation, particularly in the realms of air and space forces and related stakeholders. Leveraging the expertise of subject matter specialists, the organization fosters a collaborative environment and employs disruptive innovation processes to generate novel solutions. Through partnership networks, the Institute drives research and development among academia, industry, and government, addressing emerging needs and opportunities and contributing to regional economic growth.
Official website here: www.wrightbrothersinstitute.org
Who is the CEO of The Wright Brothers Institute Inc?
Wendell Banks is the Chairman of The Wright Brothers Institute Inc.
Official website here: www.wrightbrothersinstitute.org
What is the revenue of The Wright Brothers Institute Inc?
The Wright Brothers Institute Inc's revenue in 2022 was $22,085,089.
Official website here: www.wrightbrothersinstitute.org
Who are the executives of The Wright Brothers Institute Inc and what are their salaries?
The average compensation at The Wright Brothers Institute Inc during 2022 was $106,134. There are 40 employees at The Wright Brothers Institute Inc.
Here are 17 key members and their salaries:
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- Compensation: $194,547
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- Other: $26,112
- Compensation: $123,561
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Official website here: www.wrightbrothersinstitute.org
Where can I find the form 990 for The Wright Brothers Institute Inc?
The Wright Brothers Institute Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wrightbrothersinstitute.org
Learn more at the official website: www.wrightbrothersinstitute.org
Mission Statement of The Wright Brothers Institute Inc
The Wright Brothers Institute Inc, a pioneering organization, is dedicated to driving collaborative innovation solutions for the Air and Space Forces and other stakeholders. Leveraging subject matter experts, collaborative environments, disruptive innovation processes, and partner networks, this institute accelerates research and development in the realm of aviation and space.
By fostering a unique synergy between academia, industry, and government, the Wright Brothers Institute Inc aims to develop world-class research and development initiatives. Their mission extends beyond the confines of traditional research and development, as they strive to address emerging needs and opportunities, thereby contributing significantly to regional economic development.
The organization's strategic approach to innovation involves harnessing the power of collaboration and subject matter expertise. By creating an enabling environment where diverse perspectives intersect, the Wright Brothers Institute Inc facilitates the generation of groundbreaking ideas and solutions. Leveraging disruptive innovation processes, they challenge conventional wisdom and push the boundaries of what is possible in the fields of aviation and space.
The Wright Brothers Institute Inc also boasts an extensive partner network, which further amplifies their impact. By engaging with various organizations and stakeholders, they broaden their reach and expand their ability to address complex challenges facing the Air and Space Forces and other stakeholders. Their collaborative efforts aim to create sustainable, long-term solutions that make a significant difference in the world.
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Impact
October, 2024
The Wright Brothers Institute Inc significantly impacts the aerospace sector by fostering collaborative innovation solutions for air and space forces, as well as other stakeholders. By leveraging a network of subject matter experts and creating collaborative environments, the Institute drives disruptive innovation processes that address emerging needs and opportunities within the industry.
This approach not only enhances research and development efforts among academia, industry, and government entities but also contributes to regional economic development. By promoting innovative strategies and building partnerships, the Institute plays a crucial role in positioning the Dayton area as a hub for aerospace advancement, ensuring that stakeholders are equipped to tackle contemporary challenges and future demands in the air and space sectors.
This information is meant to be a general summary of The Wright Brothers Institute 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 2022.
- Investment Income: $537
- Program Service Revenue: $21,536,460
- Gross Receipts: $22,085,089
Assets and Liabilities:
- Total Assets: $23,307,656
- Total Liabilities: $22,182,293
- Net Assets: $1,125,363
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GOVERNMENT CONTRACTS
Revenue
$21,503,866
COMMERCIAL PROJECTS
Revenue
$32,594
Organization Details
Founding Year
2002
Phone
(937) 424-8662Principal Officer
Wendell Banks
Main Address
5000 SPRINGFIELD STREET, DAYTON, OH, 45431
NTEE Category
Code: S30 - Community improvement
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