First Flight Venture Center Inc
To propel early-stage science companies through the delivery of comprehensive resources, and to empower innovators to transform good ideas into great successes.
First Flight Venture Center Inc at a glance
- Total assets
- $12,834,460
- +498.5% vs 2023
- Revenue (2024)
- $12,132,561
- +690.7% vs 2023
- Net investment income (2024)
- $250,543
- +10163.9% vs 2023
- Expenses (2024)
- $1,561,799
- +23.7% vs 2023
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
Who First Flight Venture Center Inc funds
How this funder distributes its grants
Grant Size Distribution
1 grant across all recorded years
The most common grant size was in the $50–100K range: 1 grant of 1 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
In 2022 it made 1 grant totaling $55K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Jurata Thin Film Inc Chapel Hill, NC | Wheels up Competitio | $55,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $12,834,460 | $12,132,561 | $1,561,799 | — | — | $250,543 |
| 2023 | $2,144,263 | $1,534,311 | $1,262,131 | — | — | $2,441 |
| 2022 | $2,004,439 | $1,426,319 | $1,425,952 | $55,000 | 1 | $496 |
| 2021 | $1,951,913 | $2,093,987 | $1,615,693 | — | — | $57,413 |
| 2020 | $1,433,316 | $1,460,547 | $1,302,974 | — | — | $156,645 |
About First Flight Venture Center Inc
Based on IRS filings
First Flight Venture Center Inc is a public charity focused on Community Improvement & Capacity Building, based in Research Triangle Park, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $12.8M in total assets. Net investment income was $251K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
First Flight Venture Center Inc is led by Krista Covey, President on every filing since 2020; 2 of 10 officers listed in 2024 are compensated.
Officers on the 2024 filing
Krista Covey
President
On filings since 2020
40 hrs/week
$145K (2020) → $179K (2024)
Mary U Musacchia
Board Chair
Chairperson → Board Chair, 2022
On filings since 2020
1 hr/week
No compensation reported
Jean Davis
Director
On filings since 2020
1 hr/week
No compensation reported
Mary Beth Thomas
Director
On filings since 2020
1 hr/week
No compensation reported
Dan O'Korn
Director
On filings since 2021
1 hr/week
No compensation reported
Paula Henderson
Director
On filings since 2022
1 hr/week
No compensation reported
James Nichols
Director
New on the 2024 filing
1 hr/week
No compensation reported
Emil Runge IV
Program Manager
New on the 2024 filing
40 hrs/week
$105K (2024)
Kenneth Tindall
Secretary
On filings since 2020
1 hr/week
No compensation reported
Lebone Moses
Treasurer
Director → Treasurer, 2023
On filings since 2022
1 hr/week
No compensation reported
Former officers (7)
- Former: Peter Ginsberg (2020–2023) — Treasurer
- Former: Jim Nichols (2022–2023) — Director
- Former: Ken Tindall (2022–2023) — Secretary
- Former: Larry Wilson (2020–2021) — Secretary
- Former: Norris Tolson (2020–2021) — Director
- Former: Paul Munana (2020–2021) — Director
- Former: Dan O' Korn (2020) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $179K, to Krista Covey (President). 2 officers or directors reported compensation on that filing.
Frequently asked questions about First Flight Venture Center Inc
How large is First Flight Venture Center Inc?
First Flight Venture Center Inc reported $12.8M in total assets on its 2024 IRS Form 990. Its revenue that year was $12.1M.
What is First Flight Venture Center Inc?
First Flight Venture Center Inc is a public charity focused on Community Improvement & Capacity Building, based in Research Triangle Park, NC. It holds $12.8M in total assets as of 2024.
Where does First Flight Venture Center Inc operate?
First Flight Venture Center Inc has awarded grants in North Carolina.
What is First Flight Venture Center Inc's EIN?
First Flight Venture Center Inc's EIN (Employer Identification Number) is 56-1752731. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2022 (received by the IRS November 1, 2023)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in First Flight Venture Center Inc's focus areas in our free grants database
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The Winston-Salem Foundation
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North Carolina Community Foundation Inc
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Triangle Community Foundation Inc
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