2012 NBAA Annual Report

Dedicated to helping business achieve its highest goals.
NBAA annual report

About NBAA
Founded in 1947 and based in Washington, DC, the National Business Aviation
Association (NBAA) is the leading organization for companies that rely on general
aviation aircraft to help make their businesses more efficient, productive and successful.
The Association represents more than 9,000 Member Companies of all sizes and
located across the country. NBAA provides more than 100 products and services to the
business aviation community, including the NBAA Convention, the world’s largest civil
aviation trade show.

2012 NBAA annual report
Chairman’s Message 4
Year in Review 6
Highlighting the Importance of Business Aviation 6
Advocating on Key Issues 7
Providing Safety and Operational Resources 10
Creating Venues for Networking and Business 12
Supporting Professional Development 14
Developing Valuable Tools and Resources 15
2012 Awards 16
Honoring Leaders in Our Community 16
NBAA By The Numbers 18
65 Years of Member Service 18
How Your Dues Are Used 19
Independent Auditors’ Report 20
Consolidated Statements of Financial Position 21
Combined Statements of Activities 22
Combined Statements of Cash Flows 23
Notes to Combined Financial Statements 24
NBAA Board of Directors and Staff 30

CHAIRMAN’s MESSAGE
This edition of the NBAA Annual Report contains highlights from another year in which our industry
and association faced a number of tough challenges in and outside the legislative arena. Despite the
conventional wisdom that 2012 was a year in which not much got done in Washington, we achieved
several significant victories.
FAA reauthorization was finally accomplished – and without onerous user fees – after more than five
years of effort by NBAA and others in the industry. Another long-sought piece of legislation – a Pilot’s
Bill of Rights – was finally passed. And Congress signaled its bipartisan opposition to the clearly flawed
European Union Emissions Trading Scheme (EU-ETS), passing legislation opposing the scheme that
was signed into law by the president.
These achievements were helped across the finish line by the growing numbers and support of NBAA
Members. In 2012, membership grew to a new record of 9,369, and many Members took action on
behalf of our industry’s issues and helped to tell the good-news story about business aviation.
For example, as the No Plane No Gain advocacy campaign crossed its third anniversary, Members
stepped forward to be featured in a new print and online advertising initiative that highlights the industry’s
size, diversity and significance. NBAA was honored to include people from the industry in the
ads, and the association has been delighted by the industry’s enthusiastic reception to the ads. More
about the advertisements, and the campaign’s other initiatives in 2012, can be found on page 6 of this
report.
Advocacy on behalf of Members also includes the promotion of safety and operational excellence,
and NBAA Members played a critical role in advancing the association’s safety emphasis in 2012. As
just one example, NBAA’s Safety Committee identified new products and guidance for the industry in
several safety domains this year; the committee’s work is described in greater detail on page 10.
Other areas of strategic focus supported by NBAA’s 11 standing committees were technical standards,
security, access and professional development. Our dedicated committee volunteers were
essential to the success of many ongoing association and industry projects, including our professional
conference series. In 2012, our spring conferences alone drew nearly 4,000 attendees by featuring
high-profile speakers and valuable peer-to-peer networking opportunities.
Support from NBAA Members has also been key to the success of NBAA’s international exhibitions.
The large attendance figures for the association’s three international shows – the flagship NBAA
Convention, the European Business Aviation Convention & Exhibition, and the Asian Business Aviation
Conference & Exhibition – showcased the strength and importance of business aviation. More about
NBAA’s 2012 events can be found on page 12.
Lastly, NBAA continues to benefit from key strategic relationships with the International Business
Aviation Council and its member organizations, such as the European Business Aviation Association
and the Asian Business Aviation Association; the Alliance for Aviation Across America; Flight Safety
Foundation; and many others.
4 2012 NBAA ANNUAL REPORT

Of course, all of our initiatives require resources. Your
Board of Directors is honored to continue to have the
industry’s confidence, and together with the staff of
NBAA, it has worked to serve as a careful steward of
NBAA’s resources.
As we look to 2013, your board is confident of two
things: that NBAA remains in a strong position to champion
the interests of Members in the U.S. and around the
world, and that NBAA Members will continue to be key
to the association’s success on a variety of fronts. On
behalf of the Board of Directors, we thank you for supporting
NBAA’s continuing work in support of its mission.
Sincerely,
Dick Shine
Chairman, NBAA Board of Directors
2012 NBAA ANNUAL REPORT 5

Year in review
Highlighting the Importance of Business Aviation
Since its founding, NBAA has been the leading voice for
companies of all sizes that rely on an aircraft to meet their
transportation needs.
That advocacy tradition continued in 2012, largely through
the No Plane No Gain campaign, which highlights for policymakers
and opinion leaders the reasons business aviation is
essential to citizens, companies and communities across the
United States.
The campaign focuses on communicating to elected officials
and other decision makers that business aviation: creates 1.2
million jobs and generates $150 billion in economic activity
each year; helps companies of all sizes compete and succeed;
provides a transportation lifeline to towns and communities
across the U.S.; and supports a variety of humanitarian
initiatives.
The No Plane No Gain program is all about educating lawmakers
about these realities, and because elections always
bring a new crop of lawmakers to the House and Senate,
NBAA in this election year produced a host of new No Plane
No Gain advertisements demonstrating the size, diversity
and importance of the business aviation community in all
corners of the country. The ads – each of which portrays an
actual person or business in the industry – have been met
with great enthusiasm by NBAA Members.
NBAA also commissioned another study demonstrating that
the use of business aviation is the sign of a well-managed
company. This most recent study, which explores business
aviation use during the “Great Recession,” contains two key
findings:
• More companies used business aircraft during the
recession than beforehand.
• Companies using business aircraft during the recession
were better inoculated from the effects of the downturn
than comparable companies that did not use business
aircraft over the same period.
As another No Plane No Gain initiative, NBAA sponsored
advertising highlighting the importance of business aviation
that aired during the PBS television series “The Aviators,”
which is broadcast on more than 250 PBS affiliates across
the country and reaches more than 10 million viewers in 81
percent of U.S. households.
The No Plane No Gain campaign will continue educating
policymakers, opinion leaders and the public on the vital role
all general aviation, including business aviation, plays in communities
and business throughout America. To learn more
about how you can help support NBAA’s efforts, visit the No
Plane No Gain website at www.noplanenogain.org.
To compete with Goliath, David used a slingshot.
They say business airplanes can quickly
take you to hard-to-reach places.
I work hard to convince our business aviation
passengers that I’m one in a million.
Business is about finding ways to break through barriers.
I rely on a business airplane.
Brad Pierce, CEO
Restaurant Equipment World
I've found that to be true
in more ways than one.
Jamail Larkins
CEO, Ascension Aircraft
Truth is, I’m one in 1.2 million.
Dorette Kerr
Manager, Flight Administration
John Deere
With business aviation,
I'm at a much higher altitude.
Denise Wilson
President, Desert Jet
For small businesses to succeed, they must be nimble, efficient, and in constant contact with customers and prospects. Brad Pierce, CEO of Restaurant
Equipment World, uses business airplanes to go more places and meet more people in less time than his larger competitors. In a David v. Goliath
environment, this is Pierce’s competitive edge. And just one more way that business aviation is at work for America. Noplanenogain.org
P A I D F O R B Y T H E N A T I O N A L B U S I N E S S A V I A T I O N A S S O C I A T I O N
Using business airplanes is not a reward for success. It's a way to achieve it. Just ask Jamail Larkins, owner of a small Georgia-based aviation company. With
business airplanes, Larkins can nimbly seize opportunities in multiple cities in a day, often returning home the same night. It’s just one more way that
entrepreneurs like Larkins can get a leg up on their competition. And it’s one more way business aviation is at work for America. Noplanenogain.org
P A I D F O R B Y T H E N A T I O N A L B U S I N E S S A V I A T I O N A S S O C I A T I O N
John Deere competes in the global marketplace from its headquarters in Moline, Illinois. To stay nimble and connected, the company relies on
business airplanes and people such as Dorette Kerr — one of more than 1.2 million people employed in the business aviation industry. What she and
the rest of John Deere’s flight staff enable their company to do is just one more way that business aviation works for America. Noplanenogain.org
P A I D F O R B Y T H E N A T I O N A L B U S I N E S S A V I A T I O N A S S O C I A T I O N
A few years ago, Denise Wilson turned what had been a lifelong passion for aviation into a California-based charter operation. Her growing
company not only helps businesses operate more efficiently all across Southern California, but it also provides good jobs within the community.
What Wilson accomplishes at Desert Jet is just one more way that business aviation is working for America. Noplanenogain.org.
P A I D F O R B Y T H E N A T I O N A L B U S I N E S S A V I A T I O N A S S O C I A T I O N
A new No Plane No Gain ad campaign featured the above real-world business aviation role models and NBAA Members (left to right): Brad Pierce, Restaurant
Equipment World; Jamail Larkins, Ascension Aircraft; Dorette Kerr, John Deere; and Denise Wilson, Desert Jet.
6 2012 NBAA ANNUAL REPORT

Advocating on Key Issues
In tandem with the association’s work to underscore the
industry’s importance broadly, NBAA continued to be active
on specific industry priorities and concerns.
Opposing User Fees
For example, early in the year, President Obama’s proposed
2013 fiscal year budget included attempts to impose a $100
per-flight user fee on general aviation and to lengthen depreciation
schedules from the normal five years to seven years
for purchases of business aircraft.
NBAA joined with other business organizations, including the
U.S. Chamber of Commerce, to staunchly oppose efforts to
lengthen depreciation schedules for major business investments,
including the purchase of business aircraft, as completely
at odds with the need to stimulate the economy and
create more jobs.
Although the general aviation community has been unified in
opposing user fees for decades, the president has continually
supported the fees, calling for them first in 2009 as part
of his annual budget outline. In 2011, he renewed his call for
user fees as part of his proposal for addressing the nation’s
deficit.
Together with NBAA Members and other aviation associations,
NBAA has continued to emphasize that general
aviation pays for its use of the aviation system through the
proven, efficient fuel tax that creates no new federal bureaucracy
and adds no administrative burden on the nation’s
small to mid-size companies.
NBAA Members also did their part to make the case for the
harm of such punitive policies. In September, King Schools
co-founder Martha King testified before the House Committee
on Small Business that a $100 per-flight user fee on
flights by enterprises like hers would pose an unnecessary
administrative burden.
Supporting Aviation System Modernization
The association’s work to make its Members’ voices heard
and its successful collaboration with other aviation groups
also has kept up the drumbeat of support for continued progress
on development of a Next Generation Air Transportation
System (NextGen) by the Federal Aviation Administration
and industry stakeholders.
For example, in testimony before the Aviation Subcommittee
for the House Transportation and Infrastructure Committee,
Bolen observed: “NextGen modernization holds the promise
of a safer, more efficient, more accessible, and more
cost-effective national transportation system,” adding that
implementation of NextGen should proceed with “a clear
In September, NBAA was in two places on Capitol Hill at once, as Member
Martha King spoke out against user fees, the same day that President
and CEO Ed Bolen (not shown) testified on NextGen implementation.
cost-benefit case that firmly establishes system requirements,
incentivizes early adoption and provides accountability
through the establishment of a comprehensive timeline
and budget.”
Weighing In On Security Policies
NBAA also continued working to advance business aviation
interests in enhancing security through workable, effective
security measures. In July, NBAA offered its recommendations
before lawmakers on the House Homeland Security’s
Subcommittee on Transportation Security with regard to the
screening of student pilot candidates from other countries.
NBAA noted the security improvements made by general
aviation since 9/11 through its work with the Department
of Homeland Security and Transportation Security Administration,
and urged that the security clearance process for
international student pilots be based on a specific length of
time rather than discrete training events.
In testimony before the subcommittee, NBAA said the
goal is to protect vital national security while continuing to
support the U.S. flight training industry as the preeminent
global training location, and along with it, thousands of highly
skilled jobs.
NBAA staff also advanced the industry’s security interests
off Capitol Hill, by continuing to build on its relationships
with other key agencies, including U.S. Customs and Border
Protection (CBP).
2012 NBAA ANNUAL REPORT 7

In July, NBAA’s Doug Carr testified on
GA security and American flight schools
before a House subcommittee.
In September, NBAA
joined with other general
aviation groups in cohosting
a rare session
with CBP officials in
Miami to hear first-hand
feedback from business
aviation operators in
South Florida about their
experiences with new
Customs procedures for
general aviation.
Working at Home
and Abroad
Of course, business
aviation is a global industry, and NBAA recognizes that the
association’s advocacy work is not limited to U. S. borders.
airlines are treated, non-commercial aviation is treated
even worse.”
In his testimony, Bolen also pointed to the industry’s continuing
record on aircraft emissions reduction, and noted
that NBAA, along with others representing U.S. and other
nations’ aviation interests, has long argued that the International
Civil Aviation Organization is the appropriate body to
develop a market-based solution to further reduce aviation
greenhouse gas emissions.
NBAA’s work with a variety of aviation groups, as well as
activism on this issue by NBAA Member Companies, helped
advance efforts to win bipartisan, bicameral support in
Congress for legislation prohibiting U.S.-based aircraft operators
from participating in EU-ETS. In December, President
Obama signed into law the European Union Emissions Trading
Scheme Prohibition Act, or S.1956.
For example, NBAA has been very active on the proposed
European Union Emissions Trading Scheme (EU-ETS), which
was to go into effect January 1, 2013. Under the scheme,
aviation operators flying to, from or within the EU were to
have begun purchasing carbon credits for exchange on the
open market by the end of April 2013. It was estimated that
EU-ETS would cost the U.S. aviation industry $3.1 billion and
thousands of jobs over the next decade.
As Congress looked into the proposal during 2012, NBAA
made sure that the voice of business aviation was well
represented.
In March, when the House Aviation Subcommittee held a
hearing on the EU-ETS, NBAA invited Leo McStravick, senior
flight operations technical specialist with Gulfstream, to
testify on the industry’s behalf. McStravick told subcommittee
lawmakers the proposal was “unfair, intrusive, administratively
burdensome” and [is one that] “fails any reasonable
cost-benefit test for the environment.”
In June, Bolen told the Senate Committee on Commerce,
Science and Transportation that the scheme was “fatally
flawed,” and that under the plan, “as badly as commercial
Gaining State Support
Heading into 2013, support for general aviation is strong, and
growing stronger, as governors, members of Congress, mayors
and important community influencers of all political affiliations
show their support.
By year’s end, 44 governors recognized the value of general
aviation. As just a few of these state-level proclamations:
• Gov. Christine Gregoire of Washington and Gov. Brian
Sandoval of Nevada recognized the industry by designating
June as “General Aviation Appreciation Month”
and “Aviation Appreciation Month,” respectively.
• Oklahoma Gov. Mary Fallin declared August
“Aviation and Aerospace Appreciation Month.”
NBAA President and CEO Ed Bolen testified on June 6 before a Senate
committee that EU-ETS is “discriminatory” to business aviation.
• Michigan Gov. Rick Snyder and Connecticut Gov. Dannel
Malloy both recognized the value of aviation to their states
by proclaiming September as “Aviation Month.”
8 2012 NBAA ANNUAL REPORT

A Strong Voice on Capitol Hill
NBAA is dedicated to representing business aviation before
policymakers at all levels, and as such, association representatives
routinely appear before congressional committees, regulatory
bodies, policy forums and other venues to advance policies
that support business aviation. Below are just a few highlights
from testimony given on behalf of the industry in 2012:
“All NBAA Members have one thing in common: they rely on
business aviation to meet some of their company’s travel
challenges.... Make no mistake about it. A new $100 per-flight
fee on all turbine airplane flights is a bad idea. It will hurt our
economy. It will hurt our transportation system. It will hurt
small towns. And it will hurt small businesses like mine. We
are counting on this committee to make sure that doesn’t happen.
We are counting on you to spread the word: aviation fuel
taxes work. Per-flight fees destroy.“
— NBAA Member Martha King, King Schools, Inc.,
Testimony Before House CommitteE On Small Business, 9/12/12
In March, NBAA President and CEO Ed Bolen joined other aviation leaders
for the “Operating in the Global Economy” panel at the FAA’s 37th Annual
Forecast Conference.
In Congress, the House General Aviation (GA) Caucus ended
the year with 190 members, while the Senate GA Caucus
counted 39 senators as members.
Also having an impact at the local level were NBAA’s six
regional representatives. In conjunction with more than 50
regional business aviation groups, these staff members
actively worked on state legislative and airport access issues
and continued to foster NBAA’s strong partnership with the
National Association of State Aviation Officials, especially on
state airport funding issues.
The regional reps have a record of success in local advocacy.
For example, in April, NBAA Members and other stakeholders
in Maryland helped defeat a proposed bill that would
have added a 1- to 2-percent tax on airplanes. Also, an
Idaho law that passed in March made certain aircraft parts
and components installed on out-of-state aircraft at FAAapproved
repair stations exempt from sales and use taxes.
“For general aviation users, the entire cost of equipping for
NextGen must be borne by the aircraft owner or operator and
cannot be passed along to passengers. Because the costs associated
with equipping for NextGen are significant, operators
need to be able to plan ahead for necessary expenditures....
We have offered input to the [FAA] and have encouraged them
to move forward quickly on this critical initiative.“
— NBAA President and CEO Ed Bolen,
Testimony Before House Aviation Subcommittee, 9/12/12
“We strongly believe that the U.S. flight training industry is the
best in the world.... Thousands of jobs in the United States
are supported directly from the flight training industry, and
our policies and regulations should not only ensure that flight
candidates do not represent a security threat to our nation, but
also continue to appropriately support the U.S. as the preeminent
flight training location in the world.“
— Doug Carr, NBAA Vice President, Safety, Security,
Operations & Regulation,
Testimony before House Subcommittee
On Transportation Security, 7/18/12
As the year drew to a close, it was clear that NBAA’s longstanding
advocacy mission would be critical to the general
aviation industry in 2013 and beyond. In the coming year,
as policy battles heat up in the administration and the new
Congress, standing up for general aviation will be more
important than ever.

DeD icA teD t O heL ping B usiness A chie ve its highest gOALs.
PROvidING SAFETY AND OperationAL RESOURCES
Safety is a top priority for NBAA, and every year the association’s
Safety Committee undertakes initiatives to advance
best practices and provide operational support to Members.
Such efforts as continuing to encourage operators to adopt
safety management systems (SMS), modernizing recurrent
training for business pilots, and providing special safety
and operational programs and resources for light business
airplane (LBA) operators all contribute to business aviation’s
strong safety record.
These efforts are reflected in the steady record of safe
operations amassed by business aviation. Data compiled by
Robert E. Breiling Associates for 2011 show that business
aviation in the United States enjoys a safety record equivalent
to that of the scheduled airlines.
Supporting the industry’s work to continually remain cognizant
of emerging safety trends and challenges remained
central to NBAA’s mission in 2012. Over the year, NBAA’s
Safety Committee prioritized and developed additional strategies,
guidance and products for the business aviation community
in a number of important safety areas. The following
are among the highlights.
Light Business Airplane Working Group
Initiatives
Begun by the NBAA Safety Committee only two years ago,
the LBA Working Group is already making inroads in best
practices and programs for the business single pilot. LBA
pilots fly all types of aircraft for a
variety of missions in support of
their respective business needs,
but frequently do so without the
support and resources of a traditional
flight department or professional
pilot.
Developed with the assistance
of the LBA community, the working
group is raising awareness of
Light Business AirpLAne
FLight OperAtiOns MAnuAL teMpLAte
the proper safety culture in what
is often a “culture of one,” and
providing tools and resources that include an LBA Flight Operations
Manual Template, articles on the unique operational
and safety challenges facing owner-operators, and the wellreceived
NBAA Single-Pilot Safety Standdown, sponsored
by Cessna Aircraft Company.
The Single-Pilot Safety Standdown at NBAA2012 in Orlando,
planned with the help of the Safety Committee and LBA
Working Group, included for the first time a special seminar
presented by NORTHCOM on temporary flight restrictions.
Fatigue Awareness
This program, managed by the Safety Committee’s Fatigue
Working Group, intends to develop tools to foster increased
fatigue awareness in the daily lives of today’s business aviation
flightcrew members. The first resource, a passport-style
booklet titled The Alert Crew: Fatigue Awareness in Flight
Operations, was made available at the NBAA2012 event in
Orlando.
This guide contains a wealth of useful information about
fatigue in the aviation setting, including risks and costs of
fatigue, and background on the basics of sleep physiology. It
also contains guidance on how to incorporate fatigue factors
into trip planning, use of fatigue countermeasures and
mitigation strategies, and insights into fatigue-related flight
department policies, among other helpful information.
10 2012 NBAA ANNUAL REPORT

Business Pilot Training Project
Begun in 2011 by the Safety Committee, this project is
being carried out together with other industry stakeholders
and is examining the Federal Aviation Regulation Part 61.58
process to determine how recertification practices can be
expanded to include new training and skill sets needed as
part of today’s recurrent training process.
A distinguished group of 19 NBAA Members, including
safety professionals, training experts and providers, has
been working on this initiative since the fall of 2011, including
taking part in a special two-day symposium in Washington,
DC. The goal is to roll out the results at NBAA2013 focusing
on four separate areas: skills and standards, operator guidance,
training provider engagement, and developing new
strategic partnerships.
Bird-Strike Hazard Prevention
The mission of this special safety and operations Bird Strike
Working Group is to work with NBAA Members to help
identify hazards and develop mitigation strategies to reduce
the risks of bird and wildlife hazards for business aviation
operators.
The group sees its goals as to “educate, cooperate and
mitigate.” The education aspect of the group’s work is focused
on providing tools and information to assist Members,
including: elements to incorporate in SMS, aircraft standards
for strike resistance, and wildlife surveys and wildlife hazard
management plans (WHMP). In addition, the group also is
focused on providing information on how wildlife risks affect
business aviation operations that depend on GA airports that
may not rely on WHMP programs, and sharing best practices
and other safety information with airports, the FAA,
and other aviation organizations and groups concerned with
wildlife hazards to aviation.
Prototypical Safety Manual Initiative
The special Prototypical Safety Manual Working Group has
taken on an important project to ensure the latest best practices
in safety and operations guidance is readily available to
NBAA Members. The group conducted a thorough update of
the contents of dozens of documents on the NBAA website
under the Prototypical Safety Manual section, to review and
revise recommendations for business aviation operators.
These are among the many programs and initiatives undertaken
in 2012 to support business aviation’s interests. Remaining
on the leading edge of emerging safety trends will enable
NBAA to continue providing needed safety and operations
guidance to Members and the community at large.
What Members Said
NBAA’s Convention is the industry’s top educational and
networking opportunity, as well as its biggest marketplace.
During the 2012 “Membership Month” promotion,
NBAA Members shared what they value most
about NBAA’s Convention:
“Getting the opportunity to see the business from every
angle – as the operator, the manager, the mechanic,
the crew, and the customer.“
“The ability to speak directly with manufacturers and
other operators about safety, trends in avionics and
fleet dispatch reliability.“
“Having access to learning opportunities that are not
available anywhere else.“
“Viewing the latest leading-edge improvements in the
industry.“
“Having the opportunity to see the latest and greatest
innovations and equipment in our industry, including
aircraft. It is great to be able to talk with the vendors
and go though the new aircraft mockups.“
“The networking alone was worth the cost and time
invested as it was truly invaluable. The experience that
I gained by attending the event left a lasting impression
and an eagerness to learn even more.“
“Making connections that will help my career and my
education. NBAA helps assist college students in
making the transition from school to work, by putting
aviation professionals and students in an area where
they can communicate.“
“It’s the most productive conference – you reconnect
with associates and manufacturer reps, and have that all
important face-to-face time that our business runs on.“
“It’s the one place that we can meet people and display
products to a wide diversity of customers. To try to accomplish
this without the show, we would have to attend
many seminars and smaller events, which would
be very inefficient and time consuming.“

CREATING Venues for Networking and Business
NBAA’s regional, national and international events are the must-attend venues for the business aviation industry to network,
exchange information about issues that affect the industry and get business done. The association’s events also demonstrate
the value of business aviation to communities, companies and citizens, both in the United States and abroad.
NBAA2012: The Industry
Comes Together
NBAA’s 65th Annual Meeting & Convention
(NBAA2012) was held from
Oct. 30 to Nov. 1, at Florida’s Orange
County Convention Center and nearby
Orlando Executive Airport. This flagship
event was once again the most
productive and efficient opportunity
for the industry to conduct business,
network and learn.
The NBAA 65th Annual Meeting & Convention (NBAA2012) represented the most productive and efficient
opportunity for business, drawing key operators and industry leaders from around the world to Orlando.
The show featured more than 1,000
exhibitors, two aircraft displays showing 105 aircraft, and many notable presenters, including U.S. Senator Jerry Moran (R-
KS) and Congressman John L. Mica (R-7-FL). Attendees also had access to dozens of education sessions on important business
aviation topics and trends. (See also a review of award presentations held at the Convention on page 16).
NBAA2012 also provided career seminar and resources for graduates facing a tough job market. A roundtable discussion,
sponsored by NBAA and the University Aviation Association, enabled college students to ask questions and interact with a
variety of experienced industry professionals, from pilots and aviation personnel recruiting specialists, to fixed base operator
personnel and NBAA regional representatives.
Ranked in the top five largest U.S trade shows based on square footage of exhibits according to Trade Show Executive,
NBAA2012 proved to be among the most influential shows, not just in general aviation, but in any industry.
international Shows in europe and asia
NBAA’s international shows – the European Business Aviation Convention & Exhibition (EBACE2012) and the Asian Business
Aviation Conference & Exhibition (ABACE2012) – were also well received by the industry.
ABACE2012 established itself as Asia’s premier business aviation event, with nearly a quarter of all exhibitors from Asiabased
companies. Held from Feb. 28 to March 1, the show featured a completely full exhibit floor, with 157 exhibitors displaying
in the hangar for the brand-new Shanghai Hawker Pacific Business Aviation Centre. In addition, 31 aircraft were on
display at Hongqiao International Airport. The show also featured a full lineup of well-attended education sessions and 15
exhibitor press conferences.
ABACE2012 in Shanghai was the largest and most successful business aviation event in Asia, offering a catalyst for the industry in China and beyond.
12 2012 NBAA ANNUAL REPORT

EBACE2012 in Geneva concluded as one of the strongest EBACE shows yet, demonstrating its value even amidst a challenging European economy.
ABACE2012 was attended by high-level government officials
from the U.S., China and elsewhere. Among the speakers
at the show’s two opening sessions were Xia Xinghua,
deputy administrator of the Civil Aviation Administration of
China; Yin Hong, deputy secretary of Shanghai Municipal
Government; Nianzu Wu, chairman of the Shanghai Airport
Authority; Yukiyoshi Noguchi, principal deputy director of
the Japanese Civil Aviation Bureau; Tay Tiang Guan, deputy
director-general of the Civil Aviation Authority of Singapore;
Jing Yiming, vice president of the Shanghai Airport Authority
(SAA) and chairman of Shanghai Hawker Pacific Aviation
Ground Services, Ltd.; and John Porcari, deputy administrator
for the U.S. Department of Transportation.
In Europe, EBACE2012, held from May 14 to 16 in Geneva,
Switzerland, continued its record-setting history with a
record-breaking 2,280 booth spaces occupied by 491 exhibitors
across Halls 5, 6 and 7 of the Geneva Palexpo convention
center. EBACE2012 also featured 60 aircraft on static
display at Geneva International Airport, with a 10-percent
increase in ramp space, making it the largest-ever EBACE
static display.
Another success was the EBACE Safety Workshop, EBACE
International Aircraft Transactions Conference and the
EBACE education sessions, held in conjunction with the
trade show. At the sessions, panels of industry experts
discussed the latest safety information, emerging trends in
tax compliance, the status of aviation system modernization
efforts in the region, and the industry’s policy concerns,
including the European Union’s controversial Emissions
Trading Scheme, the progress on the Single European Sky
initiative and other matters.
U.S.-BASED Regional ForUMS
NBAA’s popular Business Aviation Regional Forums continued
to be excellent local industry venues, make it possible
for Members, wherever they are based in the U.S., to gather
and discuss the local issues affecting their operations and
communities, and view a wide range of aircraft, products
and services.
Regional Forums were held at Landmark Aviation on Lakefront
Airport (NEW) in New Orleans; at TWC Aviation and
Maguire Aviation on Van Nuys Airport (VNY) in California; at
First Aviation on Teterboro Airport (TEB) in New Jersey; and
at Clay Lacy Aviation on Boeing Field/King County International
Airport (BFI), in Seattle, WA.
In all, there were 12,638 attendees, representing 99 countries
– both numbers on par with the 2011 show, even in the
midst of a very challenging European economy.
Participants included three top government officials: Salvatore
Sciacchitano, executive secretary of the European Civil
Aviation Conference; Marian Jean Marinescu, a member of
the European Parliament and vice president of the European
People’s Party of the European Parliament; and Matthew
Baldwin, the European Commission’s director for aviation
and international transport affairs.
NBAA’s Business Aviation Regional Forum came to Van Nuys, CA in April.
2012 NBAA ANNUAL REPORT 13

SAFETY & AIRCRAFT OPERATIONS LEGISLATIVE & REGULATORY ADVOCACY NETWORKING & COMMERCE EDUCATION & CAREER DEVELOPMENT BUSINESS MANAGEMENT RESOURCES
National Business Aviation Association 1200 18th Street NW, Suite 400 Washington, DC 20036 (202) 783-9000 www.nbaa.org
Supporting Professional Development
In 2012, professional development and education remained
a high priority for NBAA, with additional course offerings,
workshops and educational support for Members, using
venues from in-person events to a growing roster of online
and distance-learning programs.
Throughout the year, the association continued expanding
offerings in its Professional Development Program (PDP),
which includes a wide range of learning opportunities in
business management, human resources, leadership, operations,
and technical and facilities services.
NBAA also offers numerous scholarships to promote professional
development and business aviation careers for all positions
within the flight department, and updated calendars of
scholarship application deadlines and forms on its website.
NBAA’s Certified Aviation Manager (CAM) program continued
its impressive momentum, with growing numbers
of business aviation professionals seeking to advance their
careers through this certification. Through the CAM process,
NBAA and the CAM Governing Board seek to raise the level
of professionalism and quality of management within flight
departments.
Individuals who pass certification earn the use of the CAM
designation and may use it when officially listing their name.
The CAM designation provides industry recognition of their
achievement and knowledge
in business management,
human resources,
DEDICATED TO HELPING BUSINESS ACHIEVE ITS HIGHEST GOALS.
leadership, operations,
and technical and facilities
services.
A total of 20 individuals
successfully passed
the CAM exam during
CAM CANDIDATE INFORMATION HANDBOOK
2012, bringing to 194 the
NBAA’s Certified Aviation Manager (CAM) program identifies qualified professionals to lead flight
departments and companies that use business aircraft. Through certification, these individuals
demonstrate their level of expertise and commitment to the aviation industry, enabling them to
achieve their professional goals.
number of individuals as
The purpose of this CAM Candidate Information Handbook is to familiarize individuals with all
aspects of the CAM program, including the exam and its administration; certification and recertification
requirements; sample exam questions; and answers to frequently asked questions.
For more information about the CAM program, visit www.nbaa.org/cam or contact NBAA at
certified or recertified
cam@nbaa.org.
CAMs. By year end, the
CAM Governing Board
had published a new CAM The new CAM Candidate Information
Candidate Information Handbook was published in late 2012.
Handbook to assist those
seeking to become CAMs in the future.
PDP courses are taught by instructors with real-world
experience in the business aviation industry. For example,
NBAA2012 attendees in Orlando had the opportunity to
attend PDP courses in conjunction with the event, with six
new and expanded courses held before and after the Convention,
including principles of aviation leadership, emergency
response planning, human factor issues and developing
or updating operations manuals that employ the International
Standard for Business Aircraft Operations (IS-BAO).
In addition to NBAA-hosted courses, PDP courses hosted by
other approved educational providers were held throughout
the year at locations nationwide.
NBAA continued to offer safety management systems
(SMS) education sessions at workshops, to provide operators
with specific tools to implement an SMS that will work
for their organization. At the workshops, each SMS component
is discussed in detail and interactive exercises are held
as examples of how SMS implementation offers safety and
efficiency benefits for flight departments.
The association also promotes SMS e-Learning courses,
and in 2012, the association focused on updating its Safety
Committee-produced prototypical business aviation safety
manual for operators with an anticipated release in 2013.
Finally, many NBAA standing committees are intently focused
on the identification of industry best practices and
promotion of career development. From pilots and mechanics,
to schedulers, dispatchers, flight attendants and flight
technicians, the association’s hundreds of dedicated committee
members from all occupations are working hard to
advance business aviations reputation and productivity.
14 2012 NBAA ANNUAL REPORT

DEDICATED TO HELPING BUSINESS ACHIEVE ITS HIGHEST GOALS.
DEDICATED TO HELPING BUSINESS ACHIEVE ITS HIGHEST GOALS.
DEDICATED TO HELPING BUSINESS ACHIEVE ITS HIGHEST GOALS.
DEDICATED TO HELPING BUSINESS ACHIEVE ITS HIGHEST GOALS.
Developing Valuable Tools and Resources
As part of its ongoing commitment to supporting Members’
operations, NBAA offered new tools and resources in 2012
that are designed to help all companies using aircraft for
business, from large flight departments to the light business
airplane owner-operator, or “flight department of one.”
For example, at midyear, NBAA announced that one of its
highly valued operational benefits for Members was being
renamed and expanded, from the former GA Desk to the
new NBAA Air Traffic Services (ATS).
NBAA’s ATS is one of only three independent desks at the
FAA Air Traffic Control System Command Center (ATCSCC).
The FAA invitation acknowledges that having general aviation
representatives based inside the ATCSCC benefits
both the FAA and the general aviation community, including
business aviation. NBAA ATS specialists engage in ongoing
collaborative planning and information sharing with other
command center staff to help manage the flow of air traffic
in the National Airspace System.
NBAA ATS services now include a Twitter feed to immediately
share airspace alerts, news and links with the business
aviation community. This complements the free benefits the
NBAA ATS has offered Members for more than a decade,
including a traffic flow management resource site, an NBAA
Airspace Alerts subscription list, and numerous operations
tips and guides published regularly in NBAA Update, the
association’s weekly e-newsletter, and Business Aviation
Insider, the official Member magazine of NBAA.
Also, as part of the push to provide the latest information to
Members across a variety of channels, NBAA updated its
popular Members-only social network, Air Mail, to make it
available in a web-based platform, called Air Mail Forums, in
addition to the traditional e-mail listserv.
With either format, Members can use Air Mail to communicate
concerns, ask questions and offer insights to fellow
Members on topics relevant to the industry. As before, specific
Air Mail lists are tailored to a variety of business aviation
professionals, from flight department managers to pilots,
maintenance technicians, flight attendants, and schedulers
and dispatchers. In addition, there are discussion groups for
18 different airplane types, as well as helicopters and five
kinds of engines.
The new web-based forum, offered as a result of Member
requests, is designed to keep the format of the old Air Mail
in a new Internet style that lists the most recent Member
“posts,” and even allows Members to add a profile photo of
themselves and “like” favorite Air Mail contributions.
Another useful resource launched in 2012 is the NBAA Best
Practices for Utilizing Independent Contractors, a welcome
guide to the plethora of federal and state laws that govern
companies’ use of contingent workers, including many in the
business aviation community.
This new guide lays out several scenarios to illustrate different
employment classification issues. It also contains best
practices managers can implement when planning to use an
independent contractor or evaluating current arrangements
with contingent workers.
Throughout the year, NBAA continued to update and refresh
the resources that Members report they value most, including:
• Business Aviation Fact Book, a clear and thorough presentation
of the broad scope and value of the business
aviation industry, with real-world information and data
about its value to citizens, companies and communities
across the country.
• NBAA Management Guide, an industry how-to manual for
business aviation management that assists flight departments
with operational, maintenance, administrative and
other considerations.
• NBAA Guidelines for Regional Business Aviation Groups,
a guide the creation of new regional business aviation
organizations and also an aid to existing groups looking to
improve procedures and increase participation.
• NBAA Light Business Airplane Buyer’s Guide, a synopsis
of the offerings currently available in the LBA category to
assist companies in their purchase planning.
2009 NBAA LIGHT BUSINESS AIRPLANE BUYER’S GUIDE
BEST PRACTICES FOR UTILIZING
INDEPENDENT CONTRACTORS
2012 NBAA
BUSINESS AVIATION FACT BOOK
GUIDELINES FOR REGIONAL
BUSINESS AVIATION ORGANIZATIONS
2012 NBAA ANNUAL REPORT 15

2012 AWARDS
Honoring Leaders in Our Community
Throughout 2012, NBAA presented a variety of awards to
recognize notable achievements in the business aviation
community.
MERITORIOUS SERVICE TO AVIATION AWARD
The association’s highest honor, the Meritorious Service to
Aviation Award, was given in 2012 to the Tuskegee Airmen,
the legendary group of aviators who battled discrimination
as effectively as they defended their country in World War
II. Named for the Alabama home of their training base, the
Tuskegee Airmen were the first African American military
aviators in the United States armed forces, flying more than
1,500 combat missions over Europe from June 1943 through
April 1945.
JOHN P. “JACK”
DOSWELL AWARD
In 2012, NBAA bestowed
the John P. “Jack” Doswell
Award to Robert E. Breiling
in recognition of his lifetime
of individual achievement on
behalf of and in support of
the aims, goals and objectives
of business aviation.
NBAA Chairman Dick Shine (left) and
President and CEO Ed Bolen (right)
present the Doswell Award to safety
expert Bob Breiling.
Breiling was acknowledged
for his many years spent analyzing business turbine-aircraft accidents.
His reports have created a heightened awareness as
to the causes of these mishaps, and his efforts in identifying
accident causes have led to improvements in aviation safety
and training.
For example, Breiling’s analysis of aviation accident rates
was instrumental in the FAA alternative allowing the use of
advanced simulators instead of aircraft to meet some pilot
recurrency requirements. His data also helped support the
development of FAR Part 91K, regulations governing fractional
operators.
Red Tails actor Elijah Kelley (far left) and NBAA Director Lloyd “Fig” Newton
(far right) applaud Meritorious Service to Aviation Award winners Lt.
Col. Alexander Jefferson, Col. Charles McGhee and Col. Leo R. Gray.
The squadron operated a variety of aircraft, most notably
the P-51 Mustang. The livery chosen for the group’s aircraft
earned the Tuskegee Airmen the nickname “Red Tails” from
the bomber crews who relied on them for protection. As one
of the most highly decorated and respected fighter groups
of World War II, the airmen have served as an inspiration for
generations of aviators and for the entire country.
NBAA was honored to host three of the remaining airmen at
its 2012 Convention: Col. Leo R. Gray, Lt. Col. Alexander Jefferson
and Col. Charles McGhee.
AL UELTSCHI AWARD FOR
HUMANITARIAN LEADERSHIP
The 2012 recipient of NBAA’s prestigious Al Ueltschi
Humanitarian Award was
FedEx Express, a division of
FedEx Corp., and its founder,
Frederick W. Smith, for being
the leading aviation sponsor of
the ORBIS Flying Eye Hospital.
FedEx aviators and eye-care
specialists travel the world on
ORBIS’ highly modified DC-10,
which features a state-of-theart
eye hospital on board, to
restore the sight of people in
developing countries.
James Parker (right) accepted the
Ueltschi Award from Bolen on
behalf Frederick W. Smith.
16 2012 NBAA ANNUAL REPORT

NBAA’s Ueltschi Humanitarian Award was established in 2006
in honor of the late Albert Lee Ueltschi, founder and chairman
emeritus of FlightSafety International, who dedicated much
of his life to philanthropic causes, including ORBIS. Ueltschi
passed away in October 2012 at the age of 95.
JOHN H. WINANT AWARD
The recipient of the 2012 John H. Winant Award was Steve
Nielsen, an accomplished pilot and industry advocate whose
service to business aviation
spans nearly 45 years. The
award, named in honor of
the former NBAA director
and long-time president,
recognizes former board
members who continue
to dedicate their time and
expertise to promoting
business aviation after they
Steve Nielsen (center) receives the
Winant Award from Shine and Bolen. have concluded their service
as NBAA directors.
Nielsen was recognized for spearheading a surge of industry
engagement on the West Coast. He co-founded the Southern
California Aviation Association (SCAA) and currently serves
as its president. Through the group, he has promoted safety,
provided scholarships for aviation students and professionals,
and expanded SCAA’s membership in recent years from fewer
than a dozen members to more than 150.
SCHEDULERS & DISPATCHERS OUTSTANDING
ACHIEVEMENT & LEADERSHIP AWARD
This award recognizes individuals who have shared their
outstanding business aviation industry expertise, provided extraordinary
service, exhibited leadership and made significant
contributions to the scheduling and dispatching function. The
2012 recipient was Fred Barth, a past chairman and founding
member of the NBAA Schedulers & Dispatchers Committee.
Now retired, Barth was widely known in the industry as the
flight operations control manager of AT&T’s Aviation Division
for more than a quarter century.
JOURNALISM AWARDS
Each year, NBAA presents two awards for excellence in aviation
journalism. The David W. Ewald Platinum Wing Award for
lifetime achievement and excellence in journalism is named
for the late publisher who was a passionate business aviation
advocate during his long magazine career. NBAA’s Gold Wing
Award is given annually for reporting excellence.
The 2012 Ewald Platinum Wing Award was presented to Robert
Goyer, editor in chief of Flying magazine. Goyer’s monthly
editorials and weekly online posts have been popular in all
corners of general aviation. The Gold Wing Award was presented
to Matt Thurber, senior editor of Business Jet Traveler,
for a story titled “Saving Lives, One Flight at a Time,” which
documented business aviation’s vital role in organ transport.
FLYING SAFETY AWARDS
The NBAA Flying Safety Awards recognized Member Companies’
most important achievement: accident-free service
records. In 2012, NBAA recognized two companies for reaching
the safety milestone of flying 60 years or more without an
accident: NiSource Inc. and The Procter & Gamble Co. Two
other companies were recognized for flying 50 years or more
without an accident: Hormel Foods Corporation and Muscatine
Corporation.
This year, NBAA also presented 269 companies with Corporate
Business Flying Awards, for three or more consecutive
accident-free years of Part 91 operations. Among charter
operators, 39 companies earned Commercial Business Flying
Safety Awards for three or more consecutive accident-free
years of on-demand operations. A total of 87 companies that
qualified for either award and perform their own maintenance
also earned Aviation Maintenance Department Safety Awards.
Additionally, a total of 605 aviators received NBAA’s Pilot
Safety Award for flying more than 1,500 accident-free hours,
and 456 mainte¬nance technicians and 497 support services
personnel re¬ceived the Maintenance/Avionics Technician
Safety Award and Aviation Support Services Safety Award,
respectively, for three or more years employed in support of
accident-free business aircraft operations.
During NBAA2012 in Orlando, Shine presented Safe Flying Achievement Awards to officials from the following
companies (left to right): The Proctor & Gamble Co., NiSource, Inc. and Hormel Foods Corp.
2012 NBAA ANNUAL REPORT 17

NBAA By the Numbers
65 Years of Member Service
For 65 years, the business aviation community has looked to
NBAA as its leader in enhancing safety and security, shaping
public policy, providing world-renowned industry events and
advancing the business aviation goals of more than 9,000
Member Companies.
The four NBAA Member categories are Corporate, Business,
Associate and Affiliate, which together represent the community
of business aircraft owners and operators and the
companies that serve them, both in the U.S. and abroad.
In addition, a Leadership Council Member level is available
to provide greater support to the association’s mission to
promote an environment that fosters business aviation in the
U.S. and around the world.
At the close of 2012, 107 Members had joined at the Leadership
Council level, providing vital support for advocacy
efforts such as the No Plane No Gain campaign.
Keeping Strategic FocuS
NBAA’s comprehensive benefits and services provide
Members with the tools they need to learn about operational,
technical and legislative issues, stay on top of regulatory
requirements and changes, improve their management skills,
network with peers, become involved with local, national
and international business aviation communities, make their
voices heard by government and all levels, advance their
careers and help their businesses succeed.
Essential to the success of NBAA’s efforts are its strategic
focus teams. Populated by the association’s standing committee
members, these teams are designed to boost the
efficiency and impact of NBAA’s 11 committees while at the
same time opening new and clearer communication channels
with the Board of Directors.
Learn more about NBAA Membership at www.nbaa.org/
membership.
Five Strategic Focus Teams,
11 Standing Committees
Access
Access Committee
Operational Excellence
Domestic Operations Committee
International Operations Committee
Tax Committee
Professional Development
Corporate Aviation Management Committee
Flight Attendants Committee
Schedulers & Dispatchers Committee
Safety & Technical Standards
Maintenance Committee
Safety Committee
Technical Committee
Security
Security Council
9,103
total number of Member Companies for CY12
54%
of all NBAA Members operated
at least one aircraft for business
purposes in CY12
18 2012 NBAA ANNUAL REPORT

How Dues are Used
Ever wonder how your NBAA dues are spent, and how other Association revenues are used
All NBAA revenues – whether from events, dues, or any other source – are invested back into the industry, helping NBAA
fulfill its mission of fostering business aviation and serving its Members with excellence.
The Association’s benefits and services give organizations and individual professionals the tools they need in the areas of
safety and aircraft operations, legislative and regulatory advocacy, networking and commerce, education and career development,
and business management resources.
NBAA’s professional staff continually looks to expand program offerings and develop new benefits to enhance the
Membership experience and ensure that Members are receiving maximum value for their dues.
FY12 Actual Revenue
If you have an idea for a product or service that you think would benefit your company or the industry, please email
membership@nbaa.org today.
Investment and Other Income
7.3%
ctual Revenue
FY12 Actual Revenue
Period ending June 30, 2012
Membership
12.1%
Annual Meeting &
Convention (NBAA2011)
34.7%
Conferences,
Seminars
and Forums
12.4%
Membership
12.1%
Investment and Other Income
7.3%
Conferences,
Seminars
and Forums
12.4%
Annual Meeting &
Convention (NBAA2011)
34.7%
ABACE2012
7.8%
EBACE2012
25.7%
ABACE2012
7.8%
FY12 Actual Expenses
Period ending June 30, 2012
FY12 Actual Expenses
EBACE2012
25.7%
Membership
Marketing
6.7%
General Administration
and Governance
5.0%
Membership
Marketing
6.7%
General Administration
and Governance
5.0%
FY12 Actual Expenses
Government
Affairs
7.7%
Communications
10.2%
Conventions, Conferences,
Seminars and Forums
52.5%
Government
Affairs
7.7%
Conventions, Conferences,
Seminars and Forums
52.5%
Communications
10.2%
Operations
17.9%
2012 NBAA ANNUAL REPORT 19

Independent Auditors’ Report
To the Audit Committee
National Business Aviation Association, Inc.
Washington, DC
We have audited the accompanying combined statements of financial position of National Business Aviation
Association, Inc. and Affiliates (the Association) as of June 30, 2012 and 2011, and the related combined statements
of activities and cash flows for the years then ended. These financial statements are the responsibility of the Association’s
management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes consideration of internal control over financial reporting
as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Association’s internal control over financial reporting. Accordingly, we express no
such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements, assessing the accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the combined financial statements referred to above present fairly, in all material respects, the financial
position of the National Business Aviation Association, Inc. and Affiliates at June 30, 2012 and 2011, and the changes
in their net assets and their cash flows for the years then ended in conformity with accounting principles generally accepted
in the United States of America.
BDO USA, LLP
September 25, 2012
20 2012 NBAA ANNUAL REPORT

Consolidated Statements of Financial Position
For the Years Ending June 30, 2012 and 2011
Assets 2012 2011
Current assets
Cash and cash equivalents $ 13,341,000 $ 10,187,414
Accounts receivable – net of allowance for uncollectible accounts
of $9,479 in 2012 and $17,059 in 2011 555,106 351,128
Prepaid expenses and other assets 650,511 909,079
Total current assets 14,546,617 11,447,621
Noncurrent assets
Deferred compensation investments 772,013 752,292
Investments in marketable securities 17,356,981 17,486,895
Furniture and equipment – net of accumulated depreciation and
amortization of $2,821,211 in 2012 and $2,717,928 in 20101 203,493 161,872
Total assets $ 32,879,104 $ 29,848,680
Liabilities and Net Assets
Current liabilities
Accounts payable and accrued expenses $ 6,648,361 $ 5,229,148
Deferred revenue
Membership dues 2,815,185 2,419,732
Conventions, seminars, business forums and other 9,813,643 9,313,867
Accrued postretirement benefit obligation, current portion 108,000 113,000
Total current liabilities 19,385,189 17,075,747
Noncurrent liabilities
Deferred compensation liability 772,013 752,292
Accrued postretirement benefit obligation, noncurrent portion 1,728,818 1,834,541
Total liabilities 21,886,020 19,662,580
Minority interest 2,826,629 1,872,761
Commitments and contingencies
Unrestricted net assets 8,166,455 8,313,339
Total liabilities and net assets $ 32,879,104 $ 29,848,680
See accompanying notes to combined financial statements.
2012 NBAA ANNUAL REPORT 21

Combined Statements of Activities
For the Years Ending June 30, 2012 and 2011
Operating Revenue and Support 2012 2011
Annual meeting and conventions $ 28,179,007 $ $21,203,597
Membership dues 4,918,398 4,262,323
Conferences, forums and seminars 5,036,194 4,434,565
Professional development, publications and other service products 692,181 796,250
Interest and dividends 633,652 466,953
Air traffic service fees 524,651 467,403
Membership directory and other services 396,082 266,724
Contributions and other income 308,396 336,586
Total operating revenue and support 40,688,561 32,234,401
Operating expenses
Program services
Conventions, conferences, forums and seminars 18,392,730 13,550,274
Operations 7,245,561 6,709,806
Communications 4,129,109 3,702,535
Government affairs 3,114,458 3,139,849
Membership marketing 2,712,535 2,255,770
Total program services 35,594,393 29,358,234
Supporting services
General administration and governance 2,033,453 2,369,642
Total supporting services 2,033,453 2,369,642
Total operating expenses 37,627,846 31,727,876
Change in unrestricted net assets from operations 3,060,715 506,525
Other activities
Postretirement benefit-related changes other than net periodic
postretirement benefit cost 16,723 514,564
Net realized and unrealized (losses)/gains on investments (397,693) 2,164,298
Change in unrestricted net assets, before minority interest 2,679,745 3,185,387
Minority interest (2,826,629) (1,872,761)
Change in unrestricted net assets (146,884) 1,312,626
Unrestricted net assets, beginning of year 8,313,339 7,000,713
Unrestricted net assets, end of year $ $8,166,455 $ $8,313,339
See accompanying notes to combined financial statements.
22 2012 2011 NBAA ANNUAL REPORT

Combined Statements of Cash Flows
For the Years Ending June 30, 2012 and 2011
Cash flows from operating activities 2012 2011
Change in unrestricted net assets $ (146,884) $ 1,312,626
Adjustments to reconcile change in net assets to net cash provided by
operating activities:
Depreciation and amortization 103,854 161,741
Bad debt recovery (42,392) (17,090)
Net realized and unrealized losses/(gains) on investments in marketable securities 397,693 (2,164,298)
Minority interest 2,826,629 1,872,761
(Increase) decrease in assets
Accounts receivable (161,586) (291,226)
Prepaid expenses and other assets 258,568 (220,504)
Increase (decrease) in liabilities
Accounts payable and accrued expenses 1,419,213 1,050,550
Deferred revenue – membership dues 395,453 62,540
Deferred revenue – conventions, seminars, business forums and other 499,776 1,192,463
Accrued postretirement benefit obligation (110,723) (466,670)
Net cash provided by operating activities 5,439,601 2,492,893
Cash flows from investing activities
Purchases of furniture and equipment (145,475) (86,794)
Purchases of investments in marketable securities (5,863,245) (10,373,417)
Proceeds from sales of investments in marketable securities 5,595,466 11,017,184
Net cash (usd in) provided by investing activities (413,254) 556,973
Cash flows from financing activities
Capital distributions – LLC Member (1,872,761) (2,014,729)
Net cash used in financing activities (1,872,761) (2,014,729)
Increase in cash and cash equivalents 3,153,586 1,035,137
Cash and cash equivalents, beginning of year 10,187,414 9,152,277
Cash and cash equivalents, end of year $ 13,341,000 $ 10,187,414
See accompanying notes to combined financial statements.
2012 NBAA ANNUAL REPORT 23

Notes to Combined Financial
Statements
1. Summary of Significant Accounting Policies
Organization
National Business Aviation Association, Inc. (NBAA) is a business association
of organizations that own or operate aircraft in the conduct of
their business or provide services to the owners of business aircraft.
NBAA was organized in 1947 for the purpose of furthering the cause
of safety and economy of business aircraft operators. NBAA’s activities
are funded primarily by meeting exhibit rental fees, static display fees,
registration fees and sponsorships. Additionally, NBAA funds its operations
from membership dues, professional development, publications
and service fees.
NBAA Charities raises funds to support a number of philanthropic
organizations and initiatives that use general aviation airplanes for
humanitarian purposes.
EBACE, LLC (EBACE) was created by NBAA in partnership with
European Business Aviation Association (EBAA) with each having a
50 percent ownership interest. EBACE, the European Business Aviation
Convention and Exhibition, was created to address the issues of
European-based operators, U.S. operators flying to Europe and nonoperators
that can benefit from the use of aircraft.
Basis of Combination
The combined financial statements are presented on an accrual basis
of accounting and include the accounts of NBAA, NBAA Charities and
EBACE (collectively referred to as “the Association”). NBAA Charities
has been combined as required under accounting principles generally
accepted in the United States of America due to the presence of common
control. As a result of the overall management function by NBAA
for EBACE, combined statements are presented. All intercompany
balances and transactions have been eliminated in the combination.
Cash and Cash Equivalents
The Association considers all highly liquid instruments, which are to
be used for current operations and which have an original maturity of
three months or less, to be cash and cash equivalents. All other highly
liquid instruments, which are to be used for the long-term purposes of
the Association, are classified as investments.
Accounts Receivable
Accounts receivable consists primarily of amounts due from the sale
of exhibit space, sponsorships, advertising, publications, and convention
registrations. The allowance method is used to determine the
uncollectible amounts. The allowance is based upon prior years’ experience
and management’s analysis of subsequent collections.
Investments in Marketable Securities
Equity securities and all debt securities are carried at readily determinable
fair market values. Interest, dividends, unrealized and realized
gains and losses are included in the combined statements of activities.
Furniture and Equipment
Furniture and equipment are recorded at cost. The Association capitalizes
all expenditures for furniture and equipment over $500. Depreciation
and amortization are computed using the straight-line method over the
estimated useful lives of the assets ranging from three to seven years.
Leasehold improvements are amortized using the straight-line method
over the shorter of the useful life of the asset or the remaining term of
the lease. When assets are sold or otherwise disposed of, the asset and
related accumulated depreciation and amortization are removed from
the accounts, and any remaining gain or loss is included in operations.
Repairs and maintenance are charged to expense when incurred.
Deferred Revenue
Deferred revenue consists of membership dues and amounts received
to reserve exhibit booth space and registration fees for annual meetings,
conventions and seminars. The Association recognizes convention
related revenues when the convention, meeting or seminar has
occurred. Membership dues are recognized on a pro rata basis over
the annual membership period.
Unrestricted Net Assets
Unrestricted net assets are available for use in general operations.
Revenue and Expense Recognition
Support and revenue are recognized in the year in which they are
earned, and expenses are recognized when incurred. Expenses paid in
advance and not yet incurred are deferred to the applicable period.
Unconditional promises to give (contributions) are recognized as
revenues and assets in the period the promise is received. Conditional
promises to give are recognized when the conditions on which they
depend are substantially met.
Functional Allocation of Expenses
The costs of providing various programs and other activities have
been summarized on a functional basis in the combined statements
of activities. Accordingly, certain costs have been allocated among the
programs and supporting services benefited.
Use of Estimates
The preparation of the combined financial statements in conformity
with generally accepted accounting principles requires management to
make estimates and assumptions that affect certain reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the combined financial statements and the reported
amounts of revenue and expenses during the reporting period. Actual
results could differ from those estimates.
Financial Instruments and Credit Risk
Financial instruments which potentially subject the Association to
concentrations of credit risk consist principally of cash and cash
equivalents and investments held at creditworthy financial institu-
24 2012 NBAA ANNUAL REPORT

tions. By policy, these cash and cash equivalents and investments are
kept within limits designed to prevent risks caused by concentration
(See Note 3). Credit risk with respect to accounts receivable is limited
because the Association deals with a large number of customers over
a wide geographic area.
Fair Value Measurements
Financial instruments are reported at fair value. Fair value is the price
that would be received to sell an asset or paid to transfer a liability in
an orderly transaction between market participants at the measurement
date. See Note 4 for discussion of fair value measurements.
2. Income Taxes/Tax Status
NBAA has been granted an exemption by the Internal Revenue Service
(IRS) from Federal income taxes under the provisions of Section 501(c)
(6) of the Internal Revenue Code, except for any relevant tax on lobbying
activities and unrelated business income. NBAA is required to report
unrelated business income to the Internal Revenue Service and the
District of Columbia. NBAA earns unrelated business income on advertising
revenue. NBAA had no income tax expense for the years ended
June 30, 2012 and 2011, as expenses were greater than revenue.
NBAA Charities has received a determination letter from the Internal
Revenue Service that they are not subject to income tax on their
exempt activities under Section 501(c)(3) of the Internal Revenue Code.
NBAA Charities had no sources of unrelated business income during
the years ended June 30, 2012 and 2011.
EBACE is a two-member limited liability company and is treated as
a partnership pursuant to Treasury Regulation Section 301.7701-3 for
federal income tax purposes. Generally, partnerships are not subject
to entity-level federal or state income taxation and, as such, EBACE is
not required to provide for income taxes under ASC 740, Accounting for
Income Taxes.
The Association must recognize the tax benefit associated with tax positions
taken for tax return purposes when it is more-likely-than-not that
the position will be sustained. The Association’s management believes
it has no material uncertain tax positions and; accordingly, it will not
recognize any liability for unrecognized tax benefits. For the years ended
June 30, 2012 and 2011, the Association did not recognize any interest
or penalties.
The tax years ended June 30, 2009 through 2011, remain open to examination
by the taxing jurisdictions to which the Association is subject,
and they have not been extended beyond the applicable statute of
limitations. No examinations are currently in process.
3. Concentration of Credit Risk
Financial instruments that potentially subject the Association to concentrations
of credit risk are cash and cash equivalents and investments.
The Association places its cash and cash equivalents in various financial
institutions and, at times, balances may exceed federally insured limits.
The Association has never experienced any losses related to these balances.
All of the Association’s non-interest bearing cash balances were
fully insured at June 30, 2012, due to a temporary federal program in
effect from Dec. 31, 2011, through Dec. 31, 2012. Under the program,
there is no limit to the amount of insurance for eligible accounts. Beginning
2013, insurance coverage will revert to $250,000 per depositor at
each financial institution, and the Association’s non-interest bearing cash
balances may again exceed federally insured limits.
4. Fair Value Measurements
The Association follows the provisions of ASC 820, Fair Value Measurements,
in accounting for fair value measurements. ASC 820 establishes
a common definition for fair value to be applied under generally
accepted accounting principles requiring use of fair value, establishes
a framework for measuring fair value, and expands disclosures about
such fair value measurements.
ASC 820 defines fair value as the price that would be received to sell
an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly
transaction between market participants at the measurement date.
ASC 820 establishes a hierarchy for inputs used in measuring fair value
that maximizes the use of observable inputs and minimizes the use of
unobservable inputs by requiring that the observable inputs be used
when available.
Observable inputs are inputs that market participants operating within
the same marketplace as the Association would use in pricing the
Association’s asset or liability based on independently derived and
observable market data. Unobservable inputs are inputs that cannot be
sourced from a broad active market in which assets or liabilities identical
or similar to those of the Association are traded. The input hierarchy
is broken down into three levels based on the degree to which the exit
price is independently observable or determinable as follows:
Level 1 – Valuation based on quoted market prices in active markets
for identical assets or liabilities. Since valuations are based on quoted
prices that are readily and regularly available in an active market, valuation
of these products does not entail a significant degree of judgment.
Level 2 – Valuation based on quoted market prices of investments that
are not actively traded or for which certain significant inputs are not
observable, either directly or indirectly.
Level 3 – Valuation based on inputs that are unobservable and reflect
management’s best estimate of what market participants would use as
fair value.
The asset or liability’s fair value measurement level within the fair value
hierarchy is based on the lowest level of any input that is significant
to the fair value measurement. Valuation techniques used need to
maximize the use of observable inputs and minimize the use of unobservable
inputs. In determining the appropriate levels, management
performs a detailed analysis of the assets and liabilities that are subject
to fair value measurements. At each reporting period, all assets and
liabilities for which the fair value measurement is based on significant
unobservable inputs are classified as Level 3.
2012 NBAA ANNUAL REPORT 25

The table below sets forth those assets measured at fair value as of June 30, 2012, on a recurring basis:
Fair value measurement at reporting date using:
Description
Quoted prices in active markets
for identical assets (level 1)
Significant other
observable inputs (level 2)
Significant other
unobservable inputs (level 3)
Balance as of
June 30, 2012
Money market funds
Investment grade fixed income
Other fixed income
U.S. equity securities
Non-U.S. equity securities
Large cap – equity securities
Mid cap – equity securities
Small cap – equity securities
Global equity securities
Bond – total return
Asset allocation – equities
$ 358,427
6,736,022
1,588,911
6,555,047
2,329,051
157,182
37,682
19,969
38,262
177,251
131,190
$ -
-
-
-
-
-
-
-
-
-
-
$ -
-
-
-
-
-
-
-
-
-
-
$ 358,427
6,736,022
1,588,911
6,555,047
2,329,051
157,182
37,682
19,969
38,262
177,251
131,190
Total
$ 18,128,994
-
$ -
$ 18,128,994
The table below sets forth those assets measured at fair value as of June 30, 2011, on a recurring basis:
Fair value measurement at reporting date using:
Description
Quoted prices in active markets
for identical assets (level 1)
Significant other
observable inputs (level 2)
Significant other
unobservable inputs (level 3)
Balance as of
June 30, 2011
Money market funds
Investment grade fixed income
U.S. equity securities
Non-U.S. equity securities
Large cap – equity securities
Mid cap – equity securities
Small cap – equity securities
Global equity securities
Bond – total return
Asset allocation – equities
Guaranteed interest account
$ 10,869
8,041,503
6,451,670
2,982,853
-
-
-
-
-
-
-
$ -
-
-
-
171,881
79,103
67,124
76,573
68,253
198,028
91,330
$ -
-
-
-
-
-
-
-
-
-
-
$ 10,869
8,041,503
6,451,670
2,982,853
171,881
79,103
67,124
76,573
68,253
198,028
91,330
Total
$ 17,486,895
$ 752,292
$ -
$ 18,239,187
The balance of the Association’s assets measured at fair value as of
June 30, 2012 and 2011, are classified in the combined statements of
financial position as follows:
Investments in marketable securities
Deferred compensation investments
2012
$ 17,356,981
752,292
$ 18,128,994
2011
$ 17,486,895
752,292
$ 18,239,187
5. Investments in Marketable Securities
Investments in marketable securities, at fair value, consist of the
following at:
Investment income consists of the following:
Years ended June 30,
2012
2011
Interest and dividends
Unrealized (losses)/gains
Realized (losses)/gains
$ 633,652
(268,178)
(129,515)
$ 235,959
$ 466,953
1,722,378
441,920
$ 2,631,251
Investment fees included in expenses amounted to $103,710 and
$103,965 for the years ended June 30, 2012 and 2011, respectively.
June 30,
Money market funds
Investment grade fixed income
Other fixed income
U.S. equity securities
Non-U.S. equity securities
2012
$ 147,950
6,736,022
1,588,911
6,555,047
2,329,051
$ 17,356,981
2011
$ 10,869
8,041,503
6,451,670
2,982,853
-
$ 17,486,895
26 2012 NBAA ANNUAL REPORT

6. Furniture and Equipment
Furniture and equipment consists of the following at:
June 30,
Furniture and equipment
Hardware
Software
Leasehold improvements
Exhibit booths
Less: accumulated depreciation
and amortization
2012
$ 364,739
578,196
792,042
617,822
671,905
3,024,704
(2,821,211)
$ 203,493
2011
$ 356,931
527,154
711,183
612,627
671,905
2,879,800
(2,717,928)
$ 161,872
7. Postretirement Benefits
The Association provides postretirement health care benefits (the
Plan) to certain retired employees. Active employees become eligible
for benefits after meeting certain age and service requirements.
The Plan is contributory for employees under the age of 65 and for
employees over age 65 who retire after Dec. 31, 2006. The Plan is
unfunded. Effective Jan. 1, 2006, the Plan no longer accepts new
participants.
The following table sets forth the Plan’s funded status:
June 30,
Postretirement benefit obligation,
beginning of year
Interest cost
Service cost
Actuarial (gain)/loss
Plan amendment
Benefits paid
Postretirement benefit obligation,
end of year
2012
$ 1,947,541
85,953
49,880
(147,953)
-
(98,603)
$ 1,836,818
2011
$ 2,414,211
129,574
77,121
110,215
(691,886) )
(91,694)
$ 1,947,541
During the year ended June 30, 2011, the Plan was amended which
provided actuarial savings of approximately $700,000. These amendments
included revising the benefits to individuals that retire on June
30, 2011, and later.
Amounts recognized in the Association’s combined statements of
financial position consist of the following:
Items not yet recognized as a component of net periodic
postretirement benefit cost:
Years ended June 30,
Transition obligation
Prior service credit
Net actuarial gain
Total
2012
$ -
904,247
306,726
$ 1,210,973
Components of net periodic postretirement cost in the
accompanying combined statements of activities:
Years ended June 30,
Service cost
Interest cost
Amortization of unrecognized prior
service credit
2012
$ 49,880
85,953
(131,230)
$ 4,603
Estimated amounts to be amortized during the following year:
Year ending June 30,
Transition obligation
Prior service credit
Actuarial gain
Total
Weighted average assumptions used to determine the benefit
obligation are as follows:
Years ended June 30,
Discount rate
Rate of compensation increase
Initial health care cost trend
Ultimate health care cost trend
Probability of retiree electing coverage
2012
4.75%
N/A
9.00%
5.00% (2022)
100%
2011
$ -
1,035,477
158,773
$ 1,194,250
2011
$ 77,121
129,574
(67,107)
$ 139,588
2013
$ -
131,230
-
$ 131,230
2011
5.25%
N/A
9.50%
5.00% (2021)
100%
The health care cost trend rate assumption has a significant effect
on the amounts reported in the accompanying combined financial
statements. If the assumed rates were to increase or decrease by
one percentage point in each year, it would increase or decrease the
postretirement benefit obligation as of June 30, 2012, by $275,800
and ($288,185), respectively.
June 30,
Accrued postretirement benefit
obligation - postretirement liability:
Current
Non-current
Accrued postretirement benefit obligation
Postretirement benefit obligation,
end of year
Fair value of plan assets
Unfunded status (accrued
postretirement benefit obligation)
2012
$ 108,000
1,728,818
$ 1,836,818
$ 1,836,818
-
$ 1,836,818
2011
$ 113,000
1,834,541
$ 1,947,541
$ 1,947,541
-
$ 1,947,541
Contributions
As the plan is unfunded, contributions are expected to be equivalent
to future estimated benefit payments. Accordingly, for the year
ended June 30, 2013, the Association expects to contribute approximately
$108,000 to its postretirement healthcare benefit plan.
Estimated Future Benefit Payments
The following benefit payments, which reflect expected future
service, as appropriate, are expected to be paid:
The accrued benefit cost for postretirement benefits is included
in the accompanying combined statements of financial position.
2012 NBAA ANNUAL REPORT 27

Years ending June 30,
2013
2014
2015
2016
2017
2018–2022
$ 108,000
111,000
113,000
121,000
125,000
644,000
Given the estimates included in the calculation of this accumulated
benefit obligation, it is possible amounts recorded under the Plan
may change in the near term.
8. Deferred Compensation
During fiscal year 2007, the Association established a nonqualified deferred
compensation plan (a “457(b) plan”) for senior executives and
other management or highly compensated employees. The Association
holds assets totaling $772,013 and $752,292 as of June 30, 2012
and 2011, respectively, which are reported as deferred compensation
investments and a deferred compensation liability in the accompanying
combined statements of financial position. The assets are subject
to the claims of general creditors. The investments of the trust are
held in separate accounts for investment purposes, but are designated
by the Board for use to satisfy this deferred compensation liability.
All contributions to the plan are from employees and no contributions
have been made by the Association for the years ended June
30, 2012 and 2011. Investment gains and losses from the deferred
compensation investments are recorded directly to the asset account
and the corresponding liability account.
9. Commitments and Contingencies
Operating Lease
The Association leases its administrative office space in Washington,
DC and certain office equipment under agreements expiring at various
times through 2018. Future minimum rental payments, by year
and in the aggregate, under the operating leases for office space and
equipment are as follows:
Years ending June 30,
2013
2014
2015
2016
2017
Thereafter
$ 736,216
744,520
750,452
836,081
853,207
995,408
$ 4,915,884
Rent expense for the years ended June 30, 2012 and 2011, was
$771,249 and $777,628, respectively.
Sublease Agreements
The Association subleases part of its office space in Washington, DC
under agreements expiring at various times through 2014. Future
minimum receipts to be received, by year and in the aggregate, under
the subleases for office space are as follows:
Years ending June 30,
2013
2014
$ 249,677
129,655
$ 379,332
Sublease rental income for the years ended June 30, 2012 and 2011,
was $193,904 and $277,336, respectively. Subsequent to June 30,
2012, the subleases were amended to extend the subleases through
2018.
Commitments for Conference Facilities
The Association is committed under agreements for conference and
hotel space through the year 2013. The total commitment under the
agreements is not determinable as it depends upon attendance and
other unknown factors. In the event that the Association cancels the
agreements, the Association may be subject to liquidating damages.
Contingency
EBACE has overseas activities and it has certain risks such as currency
fluctuation, foreign taxes and foreign country political issues. The Association
does not believe that EBACE has incurred any liability related to
these risks that is probable and can be valued.
10. Employee Retirement Plan
During the year ended June 30, 1998, the Association established
the National Business Aviation Association, Inc. 401(k) Profit Sharing
Plan and Trust (the Plan) for all eligible employees. All Plan participants
have the option of deferring a percentage of their annual salary,
subject to IRS limitations. The Association may match a portion of
the salary deferred by each employee. For the years ended June 30,
2012 and 2011, the Association contributed $727,777 and $731,009,
respectively, to the Plan.
11. Related Parties
The Association is a member of the International Business Aviation
Council (IBAC) along with fourteen other aviation member groups.
Administrative, overhead and direct costs are borne by IBAC member
groups through assessments. Costs incurred by the Association to
support IBAC were $256,252 and $90,275 for the years ended June
30, 2012 and 2011, respectively.
The National Business Aviation Association, Inc. Political Action
Committee (NBAA PAC) is a non-profit political association that was
registered with the Federal Election Commission on June 17, 1996.
Administrative, overhead and direct costs incurred by NBAA PAC
during the years ended June 30, 2012 and 2011, are immaterial and,
therefore, are not included in the combined financial statements.
The Association is a member of the Alliance for Aviation Across
America (AAAA). AAAA is a diverse coalition of aviation enthusiasts
and professionals, local airports, and civic organizations representing
rural and agriculture voices, city, county and state officials, economic
development entities, non-profit organizations, small and mid-size
businesses and others dedicated to protecting small and rural communities.
AAAA is dedicated to properly modernizing America’s air
traffic control system to enhance safety, promote efficiency and
expand capacity in order to ensure all Americans have access to
air transportation. During the years ended June 30, 2012 and 2011,
NBAA contributed $556,000 and $496,500, respectively, to support
AAAA.
12. Subsequent Events
The Association evaluated subsequent events through Sept. 25, 2012,
which is the date the combined financial statements were available to
be issued. There were no additional events noted that required adjustment
to or disclosure in these combined financial statements except for
the extension of the sublease rental agreements as detailed in Note 9.
28 2012 NBAA ANNUAL REPORT

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2012 NBAA ANNUAL REPORT 29

NBAA Board of directors
Richard shine
NBAA Chairman
Manitoba Corp.
Ronald Duncan
NBAA Vice Chairman/Treasurer
General Communication, Inc.
Edward M. Bolen
NBAA President and CEO
Paul Anderson
UTFlight
Patrick C. Cunningham
PepsiCo, Inc.
Elizabeth Dornak
DuPont Aviation
David Everitt
Harsco Corporation
Michael Herman
North American Communications
Monte J.M. Koch
Falconshare LLC
Auction.com
Jeffrey W. Lee
American Express Company
Jay Mesinger
J. Mesinger Corporate
Jet Sales, Inc.
scott A. moore
Luck Companies
Lloyd “Fig” Newton
Sonoco Products Company
Charles Reagan
Kansas State University
Douglas Schwartz
Conoco Phillips
Joan Sullivan Garrett
MedAire, Inc.
John White
Valero Energy
Benjamin Schwalen
NBAA Corporate Secretary
As of January 2013
30 2012 NBAA ANNUAL REPORT

NBAA STAFF
Office of the President
Ed Bolen
President and
Chief Executive Officer
Steve Hadley
Director, Regional Programs
Southwest Regional
Representative
Harry Houckes
Southeast Regional
Representative
Stacy Howard
Western Regional
Representative
Kristi Ivey
Northwest Regional
Representative
Bob Quinn
Central Regional
Representative
Dean Saucier
Northeast Regional
Representative
Communications
Dan Hubbard
Senior Vice President,
Communications
Chantal Almonord
Database Systems
Administrator
Erika Freber
Art Direction, Design
& Photography
Kurt Graber
Manager, Web
Development
Amy Hindman
Managing Editor
Quang Nguyen
Senior Manager,
Web Development
Curtis Oden
Manager, Web
Development
Rhonda Pinkney
Database Analyst
Beth Sanders
Online Editor
Jessica Smith
Manager, Web Design
Amy Freed Stalzer
Director, Publications
Jason Wolf
Director, Internet
Communications
Todd Wormington
Director, Information
Systems
Conventions, Seminars
& Forums
Kathleen Blouin
Senior Vice President,
Conventions & Forums
Maureen Cameron
Director, Conventions
& Forums
Tyler Harper
Manager, Static Displays
Joe Hart
Director, Static Displays
Lara Kahn
Coordinator, Advertising
& Sponsorships
Samantha Lohse
Administrative Assistant,
Conventions & Forums
Margie Morgan
Manager, Exhibits
Cheryl Padilla
Vice President, Conventions
& Forums Administrative
Affairs
Linda Peters
Vice President, Exhibits
Donna Raphael
Manager, Administrative
Affairs
Government Affairs
Lisa Piccione
Senior Vice President,
Government Affairs
Dick Doubrava
Director, Legislative Affairs
Mary McCullough
Data Coordinator &
Administrative Assistant
Marketing & Member
Services
Chris Strong
Senior Vice President,
Marketing & Member
Services
David Bascomb
Marketing Analyst
Margo DeMark
Senior Manager,
Membershiop
Dina Green
Director, Registration
& Conference Exhibits
Sierra Grimes
Registration Assistant,
Marketing & Member
Services
Aimee Kaufman
Director, Marketing
Kirby Konz
Project Manager, Marketing
Nicholette Letersky
Coordinator, Marketing
& Member Services
Benjamin Schwalen
Counsel & Corporate
Secretary
Stacey Turner
Assistant Manager,
Registration
Zebbie Warren
Membership Services
Representative
Operations &
Administration
Steve Brown
Chief Operating Officer
Greg Bachtiar
Senior Staff Accountant
LeKiesha Browder
Staff Accountant, Accounts
Receivable
Doug Carr
Vice President, Safety,
Security, Operations
& Regulation
Holly Clark
Chief People Officer
Pam Cohen
Staff Accountant,
Accounts Payable
Michael Cole
Assistant Controller
Eli Cotti, CAM
Director, Technical
Operations
Jo Damato
Director, Educational
Development & Strategy
Linda Eaton
Senior Manager, Office
& Support Services
Jay Evans, CAM
Director, Professional
Development
Marc Freeman
Chief Financial Officer
Jeff Gilley
Director, Airports & Ground
Infrastructure
Jamie Kane
Specialist, Air Traffic
Services
Brian Koester
Specialist, Operations
Service Group
Peter Korns
Specialist, Operations
Service Group
John Kosak
Specialist, Air Traffic
Services
Bob Lamond
Director, Air Traffic Services
& Infrastructure
Mark Larsen
Project Manager, Operations
& Web Development
Jim McClay
Specialist, Air Traffic
Services
Mike Nichols, CAM
Vice President, Operational
Excellence & Professional
Development
Scott O’Brien
Senior Manager, Finance
& Tax Policy
Cheryl Richards
Staff Accountant, Accounts
Receivable
Shirley Rose
Senior Support Services
Coordinator
Cheri Rudd
Manager, Office
Coordination
Michael Schwab
Specialist, Air Traffic
Services
Dean Snell
Assistant Manager,
Air Traffic Services
Ernie Stellings
Manager, Air Traffic Services
Bill Stine
Director, International
Operations
Michele Terner
Manager, Human Resources
Marie Wilkins
Executive Assistant
James Williams
Mailroom Coordination
& Inventory Control
Sandy Wirtz
Director, Conferences
Sarah Wolf
Project Manager,
Professional Development
As of January 2013
2012 NBAA ANNUAL REPORT 31

National Business Aviation Association
1299 Pennsylvania Ave. NW, Suite 550
Washington, DC 20004
www.nbaa.org