Overview
What is National Association For The Exchange Of Industrial Resources Inc?
The National Association For The Exchange Of Industrial Resources Inc, also known as NAEIR, is a nonprofit organization based in Galesburg, Illinois. Their primary mission revolves around obtaining, cataloging, and storing donated inventory and then redistributing this property to their qualified educational and charitable member organizations. These member organizations must meet the qualifications under IRC Section 170(E)(3) as designated recipients under that section. The organization's operations include managing and redistributing donated inventories, and membership is open to eligible educational and charitable entities. NAEIR has a team of approximately 50 employees.
Official website here: www.naeir.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Stars
The National Association for the Exchange of Industrial Resources Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. With a high overall score of 92%, the organization excels in key areas such as having a majority of independent board members and robust financial oversight, which helps to instill confidence in its operational integrity.
Strengths noted in the evaluation include a remarkable program expense ratio of 98.58%, indicating that nearly all of its resources are directed toward its programs rather than administrative costs. Additionally, the organization has no outstanding liabilities and successfully maintains a solid financial structure, evidenced by a low fundraising efficiency ratio, which suggests very minimal costs associated with fundraising efforts.
However, there are a couple of limitations identified, particularly the absence of a whistleblower policy and a document retention policy. These omissions could pose risks in terms of governance and transparency, but overall, the organization demonstrates a strong ethical framework and a commitment to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is National Association For The Exchange Of Industrial Resources Inc legitimate?
National Association For The Exchange Of Industrial Resources Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. National Association For The Exchange Of Industrial Resources 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: $836,403
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,952,648
For more financial information, click here
Official website here: www.naeir.org
What is the mission statement of National Association For The Exchange Of Industrial Resources Inc?
The National Association For The Exchange Of Industrial Resources Inc, also known as NAEIR, is an organization dedicated to obtaining, cataloging, and redistributing donated inventory. Its primary mission is to store and distribute such property to educational and charitable organizations that meet the qualifications under IRC Section 170(E)(3) as recipients under that section. The association facilitates the redistribution of these donations to its member organizations, expanding their resource capabilities and furthering their goals. By offering a vast catalog of donated inventory, NAEIR plays a crucial role in supporting the initiatives of various educational and charitable entities.
Official website here: www.naeir.org
Who is the CEO of National Association For The Exchange Of Industrial Resources Inc?
Gary C Smith is the President/Ceo of National Association For The Exchange Of Industrial Resources Inc. The CEO's salary of National Association For The Exchange Of Industrial Resources Inc is $289,735 and their total compensation is $332,465.
Official website here: www.naeir.org
What is the revenue of National Association For The Exchange Of Industrial Resources Inc?
National Association For The Exchange Of Industrial Resources Inc's revenue in 2023 was $99,845,996.
Official website here: www.naeir.org
Who are the executives of National Association For The Exchange Of Industrial Resources Inc and what are their salaries?
The average compensation at National Association For The Exchange Of Industrial Resources Inc during 2023 was $55,781. There are 50 employees and 4 volunteers at National Association For The Exchange Of Industrial Resources Inc.
Here are 7 key members and their salaries (National Association For The Exchange Of Industrial Resources Inc's CEO's salary is $289,735 and their total compensation is $332,465):
- Compensation: $289,735
- Related: $0
- Other: $42,730
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $246,787
- Related: $0
- Other: $31,559
- Compensation: $179,254
- Related: $0
- Other: $27,271
Official website here: www.naeir.org
Where can I find the form 990 for National Association For The Exchange Of Industrial Resources Inc?
National Association For The Exchange Of Industrial Resources Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.naeir.org
Learn more at the official website: www.naeir.org
Mission Statement of National Association For The Exchange Of Industrial Resources Inc
The National Association For The Exchange Of Industrial Resources Inc, or NAEIR, is a mission-driven organization that focuses on obtaining, cataloging, and redistributing donated inventory. This nonprofit is dedicated to helping educational and charitable organizations by providing them with access to such resources under IRC Section 170(E)(3).
NAEIR's primary goal is to obtain and catalog donated inventory, which it then stores and redistributes to its members. Membership in this association is open to organizations that qualify under IRC Section 170(E)(3) as recipients under that section. NAEIR acts as a bridge between businesses and nonprofits, facilitating the transfer of surplus inventory that would otherwise go unused.
By redistributing donated inventory, NAEIR plays a crucial role in supporting the operations and programs of various educational and charitable organizations. These nonprofits can utilize the received inventory to enhance their services, save on expenses, or even generate revenue by selling the items. In this way, NAEIR contributes to the overall effectiveness and sustainability of the nonprofit sector.
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Impact
October, 2024
National Association For The Exchange Of Industrial Resources Inc (NAEIR) plays a significant role in fostering community improvement by facilitating the redistribution of donated inventory to educational and charitable organizations. This initiative not only helps organizations that qualify under IRC Section 170(E)(3) to access essential resources but also promotes sustainability by preventing unused inventory from going to waste.
By cataloging and storing a wide range of donated goods, NAEIR ensures that these resources are effectively matched with members who can benefit from them. This process enhances the capacity of educational institutions and charitable entities to fulfill their missions while reducing operational costs. The impact extends beyond the immediate beneficiaries, as it encourages a culture of giving and resource sharing within the community, ultimately contributing to a stronger and more supportive network of organizations dedicated to social improvement.
This information is meant to be a general summary of National Association For The Exchange Of Industrial Resources 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 2023.
- Investment Income: $5,962
- Program Service Revenue: $8,278,389
- Gross Receipts: $99,845,996
Assets and Liabilities:
- Total Assets: $100,072,261
- Total Liabilities: $1,995,333
- Net Assets: $98,076,928
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TRANSPORTATION & HANDL
Revenue
$7,682,185
OTHER PROGRAM SERVICE
Revenue
$320,676
MEMBERSHIP DUES
Revenue
$275,528
Organization Details
Founding Year
1977
Phone
(309) 343-0704Principal Officer
Gary C Smith
Main Address
560 MCCLURE STREET, GALESBURG, IL, 61401
Website
www.naeir.orgNTEE Category
Code: S030 - Community improvement
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