Overview
What is Indiana Basketball Hall Of Fame Foundation Inc?
Indiana Basketball Hall of Fame Foundation Inc is a nonprofit organization based in New Castle, Indiana, specifically at ONE HALL OF FAME COURT. Their primary mission is to promote educational and charitable purposes associated with the Indiana Basketball Hall of Fame, while preserving the rich history of high school basketball in the state for future generations. The organization achieves this through various events, including their annual awards banquet, which celebrates basketball legends and recognizes outstanding individuals and teams from the past. The banquet honors new inductees, recognizes silver anniversary teams, and showcases the state championship teams from different time periods.
Official website here: www.hoopshall.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
The Indiana Basketball Hall of Fame Foundation Inc has received a rating of Two-Star from Charity Navigator, indicating a need for improvement in some areas. With an overall score of 73%, the organization demonstrates strengths in board independence and financial management, particularly with a 76.12% program expense ratio, suggesting that a significant portion of its funds is directed toward its mission-related activities.
However, there are notable limitations in the foundation's accountability and transparency practices. The absence of financial statements, a conflict of interest policy, and a whistleblower policy significantly affect its score in these areas. Additionally, while the organization has an independent board and shows no material diversion of assets, the lack of publicly available financial documents raises concerns about its overall transparency.
Overall, while the Indiana Basketball Hall of Fame Foundation Inc has solid operational metrics, the gaps in governance policies and financial documentation may impact donor confidence and the organization's long-term sustainability. Enhancing transparency and accountability practices would be beneficial for both its reputation and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Indiana Basketball Hall Of Fame Foundation Inc legitimate?
Indiana Basketball Hall Of Fame Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Indiana Basketball Hall Of Fame 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: $0
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Other Salaries and Wages: $265,998
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Official website here: www.hoopshall.com
What is the mission statement of Indiana Basketball Hall Of Fame Foundation Inc?
The Indiana Basketball Hall of Fame Foundation Inc's primary objective is to promote the educational and charitable purposes of the Indiana Basketball Hall of Fame and preserve the history of Indiana high school basketball for future generations. This organization achieves this by hosting annual award banquets, honoring new inductees, recognizing outstanding basketball teams and officials, and celebrating the state's basketball heritage. The banquets serve as a reunion for basketball legends, honoring the Silver Medal recipients and Silver Anniversary teams, while also acknowledging the state championship teams of 25, 50, and 100 years ago. The Center Circle Officials Award is also presented to recognize distinguished officials.
Official website here: www.hoopshall.com
Who is the CEO of Indiana Basketball Hall Of Fame Foundation Inc?
Chris May is the Treasurer of Indiana Basketball Hall Of Fame Foundation Inc.
Official website here: www.hoopshall.com
What is the revenue of Indiana Basketball Hall Of Fame Foundation Inc?
Indiana Basketball Hall Of Fame Foundation Inc's revenue in 2022 was $1,002,889.
Official website here: www.hoopshall.com
Who are the executives of Indiana Basketball Hall Of Fame Foundation Inc and what are their salaries?
Here are 28 key members and their salaries:
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Official website here: www.hoopshall.com
Where can I find the form 990 for Indiana Basketball Hall Of Fame Foundation Inc?
Indiana Basketball Hall Of Fame Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hoopshall.com
Learn more at the official website: www.hoopshall.com
Mission Statement of Indiana Basketball Hall Of Fame Foundation Inc
The Indiana Basketball Hall of Fame Foundation Inc aims to promote the educational and charitable purposes of the Indiana Basketball Hall of Fame and preserve the history of Indiana high school basketball for future generations. This organization plays a significant role in honoring the achievements of basketball players and officials in the state, recognizing their contributions to the sport. Through events such as the annual men's and women's awards banquet, they celebrate the basketball heritage of Indiana by honoring new inductees, recognizing silver anniversary teams, and acknowledging outstanding officials. The Foundation also recognizes state championship teams from various decades, thereby maintaining a lasting connection with the rich basketball history of the state.
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Impact
October, 2024
The Indiana Basketball Hall of Fame Foundation Inc plays a significant role in celebrating and preserving the rich history of high school basketball in Indiana. Through its annual Hall of Fame banquet, the Foundation honors the achievements of legendary players, teams, and coaches, creating a sense of community and nostalgia among participants and attendees.
Each year, the banquet not only introduces new inductees but also pays tribute to influential figures from Indiana's basketball past, including milestone state championship teams from 25, 50, and even 100 years ago. This celebration fosters a deep appreciation for the state's basketball heritage, while the recognition of outstanding officials through the Center Circle Officials Award further emphasizes the importance of sportsmanship and dedication.
By promoting educational and charitable initiatives related to basketball, the Foundation ensures that the legacy of Indiana's high school basketball continues to inspire future generations. The annual event functions as both a reunion for past stars and a motivational gathering for upcoming talent, reinforcing the value of sports in shaping community identity and pride.
This information is meant to be a general summary of Indiana Basketball Hall Of Fame 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: $344,169
- Program Service Revenue: $277,215
- Gross Receipts: $2,083,963
Assets and Liabilities:
- Total Assets: $5,373,754
- Total Liabilities: $1,782
- Net Assets: $5,371,972
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BANQUET
Revenue
$101,900
MEMBERSHIPS
Revenue
$98,640
BASKETBALL TOURNEY
Revenue
$54,232
ADMISSIONS
Revenue
$12,210
MAGAZINE SUBSCRIPTIONS
Revenue
$2,398
Organization Details
Founding Year
1965
Phone
(765) 529-1891Principal Officer
Chris May
Main Address
ONE HALL OF FAME COURT, NEW CASTLE, IN, 47362
Website
www.hoopshall.comNTEE Category
Code: A500 - Arts
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