Overview
What is Nexstar Legacy Foundation Inc?
Nexstar Legacy Foundation Inc, operating under the name Explore The Trades, is a charitable and educational nonprofit organization based in Bloomington, Minnesota. Established with the mission to bridge the talent gap in the service trades of plumbing, heating, cooling, and electrical, the foundation offers various initiatives. During 2022, they provided free educational materials to educators to teach students about these professions and distributed free kits of materials to contractors for recruitment purposes. Additionally, the foundation offers career information and guidance to individuals new to the trades, assisting them in identifying potential employment opportunities. The foundation also intends to provide public resource development, scholarships, grants for technical training, and career counseling. With a small team of two dedicated individuals, Explore The Trades aims to contribute positively to the industry and inspire future professionals.
Official website here: www.explorethetrades.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Stars)
The Nexstar Legacy Foundation Inc, operating as Explore The Trades, has received a Two-Star rating from Charity Navigator, indicating room for improvement in its accountability and financial performance. The organization has a strong governance structure with a fully independent board and no material diversions of assets. However, it lacks key policies such as a whistleblower policy and document retention guidelines, which impacted its overall accountability score.
Financially, Explore The Trades allocates approximately 64.7% of its expenses towards program activities, which is a positive sign but reflects a need to enhance efficiency in resource allocation. The organization also exhibits a solid liabilities-to-assets ratio, indicating a manageable level of debt. Despite these strengths, the absence of certain governance policies raises concerns about transparency and risk management.
In terms of its operational culture and community engagement, the foundation demonstrates a commendable commitment with scores of 75 in both categories. This reflects an effort to foster inclusivity and equity within its initiatives. Overall, while the Nexstar Legacy Foundation has foundational strengths, particularly in governance, enhancements in financial management practices and policy implementation would serve to bolster its impact and reputation.
This AI summary has been generated from information found on Charity Navigator.
Is Nexstar Legacy Foundation Inc legitimate?
Nexstar Legacy Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nexstar Legacy Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $104,376
Professional Fundraising Fees: $0
Other Salaries and Wages: $46,872
For more financial information, click here
Official website here: www.explorethetrades.org
What is the mission statement of Nexstar Legacy Foundation Inc?
The Nexstar Legacy Foundation, operating under the name Explore The Trades, was established with charitable and educational purposes in mind. Its primary mission is to address the technical talent gap in the service trades, specifically plumbing, heating, cooling, and electrical. To accomplish this, the foundation provides free career information and educational materials to educators for use with students. Furthermore, it offers free materials and collateral for contractors to utilize in their recruitment efforts. Additionally, the foundation aids job seekers in identifying potential employment opportunities.
Official website here: www.explorethetrades.org
Who is the CEO of Nexstar Legacy Foundation Inc?
Peggy Hildebrandt is the President of Nexstar Legacy Foundation Inc.
Official website here: www.explorethetrades.org
What is the revenue of Nexstar Legacy Foundation Inc?
Nexstar Legacy Foundation Inc's revenue in 2022 was $517,946.
Official website here: www.explorethetrades.org
Who are the executives of Nexstar Legacy Foundation Inc and what are their salaries?
The average compensation at Nexstar Legacy Foundation Inc during 2022 was $75,624. There are 2 employees and 11 volunteers at Nexstar Legacy Foundation Inc.
Here are 11 key members and their salaries:
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- Compensation: $104,375
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Official website here: www.explorethetrades.org
Where can I find the form 990 for Nexstar Legacy Foundation Inc?
Nexstar Legacy Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.explorethetrades.org
Learn more at the official website: www.explorethetrades.org
Mission Statement of Nexstar Legacy Foundation Inc
Nexstar Legacy Foundation Inc, doing business as Explore The Trades, was established with charitable and educational objectives in mind. Its mission is multifaceted, aimed at bridging the technical talent gap in the service trades, including plumbing, heating, cooling, and electricity. The foundation provides free career information and materials to educators, enabling them to educate their students effectively. Additionally, it offers free materials and collateral to contractors, assisting them in their recruitment efforts. Furthermore, Explore The Trades helps job seekers identify potential employment opportunities, contributing to the broader goal of addressing the skilled labor shortage in the service trades.
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Impact
July, 2024
Explore The Trades, operating under the Nexstar Legacy Foundation, aims to bridge the technical talent gap in the service trades of plumbing, heating, cooling, and electrical. By providing free career information and materials to educators and contractors, the foundation effectively raises awareness about trade professions and assists in recruiting efforts. Through their initiatives, they play a crucial role in guiding individuals towards becoming licensed professionals and securing employment in these essential sectors.
This information is meant to be a general summary of Nexstar Legacy Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$28,791
- Gross Receipts: $1,637,873
Assets and Liabilities:
- Total Assets: $1,446,176
- Total Liabilities: $32,419
- Net Assets: $1,413,757
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Organization Details
Founding Year
2005
Phone
(651) 789-8518Principal Officer
Peggy Hildebrandt
Main Address
7900 INTERNATIONAL DRIVE SUITE 300, BLOOMINGTON, MN, 55425
Website
www.explorethetrades.orgNTEE Category
Code: B82 - Education
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