Overview
What is Iota Court Preservation Association Inc?
Iota Court Preservation Association Inc is a nonprofit organization based in Madison, Wisconsin. Their primary mission is to restore, renovate, and preserve a historically significant building, which is listed on the National Register of Historic Places, the State of Wisconsin Register of Historic Places, and is also a City of Madison Landmark, located at 150 Iota Court. Their efforts aim to maintain this valuable heritage site for the community in the City of Madison, County of Dane, and the State of Wisconsin. The organization receives interest payments from a construction loan that funded these restoration and preservation projects.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (58%)
The Iota Court Preservation Association Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and finance practices. The overall rating is based solely on its Accountability & Finance score, which is 58%. While the organization shows excellence in certain areas such as maintaining a fully independent board and a high program expense ratio, its financial transparency and governance policies are notably lacking.
Strengths of the Iota Court Preservation Association include a 100% score for having all independent board members and an impressive program expense ratio of 84.51%, signaling that a substantial portion of its funds is directed towards its mission-related activities. However, the organization struggles with transparency, as it has failed to implement several key governance policies, including a conflict of interest policy and a whistleblower policy, all of which are critical for maintaining accountability in nonprofit operations.
Additionally, the high liabilities to assets ratio of 2242.78% raises concerns about the organization's financial health and sustainability. The absence of key documents on its website, such as tax forms and retention policies, further contributes to its low score. These limitations highlight the need for the Iota Court Preservation Association to improve its governance practices to enhance trust and accountability among its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Iota Court Preservation Association Inc legitimate?
Iota Court Preservation Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Iota Court Preservation Association 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
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Iota Court Preservation Association Inc?
The Iota Court Preservation Association Inc's mission is centered around the restoration, renovation, and preservation of a significant historical building. This structure, listed on the National Register of Historic Places, the State of Wisconsin Register of Historic Places, and designated as City of Madison Landmark 84, is located at 150 Iota Court. The association's objective is to protect and maintain this heritage site, ensuring its continued significance for future generations. Their activities involve restoring the building to its former glory, renovating it to meet contemporary needs, and preserving its historical character and importance.
Who is the CEO of Iota Court Preservation Association Inc?
Thomas Shield is the Interim President, Board Vice Chair, Director of Iota Court Preservation Association Inc.
What is the revenue of Iota Court Preservation Association Inc?
Iota Court Preservation Association Inc's revenue in 2023 was $53,234.
Who are the executives of Iota Court Preservation Association Inc and what are their salaries?
There 10 volunteers at Iota Court Preservation Association Inc.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Iota Court Preservation Association Inc?
Iota Court Preservation Association Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Iota Court Preservation Association Inc
Iota Court Preservation Association Inc is committed to restoring, renovating, and preserving a significant historical building that holds notable status on multiple registers. Specifically, they are focused on the restoration of the building located at 150 Iota Court, which is listed on the National Register of Historic Places, the State of Wisconsin Register of Historic Places, and recognized as a City of Madison Landmark 84. This mission aims to protect and enhance the architectural and historical value of this heritage site.
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Impact
August, 2024
Iota Court Preservation Association Inc has had a significant impact on the preservation of the historic building located at 150 Iota Court in Madison, Wisconsin. By restoring, renovating, and preserving this architectural gem listed on the National Register of Historic Places, State of Wisconsin Register of Historic Places, and City of Madison Landmark 84, the organization has played a crucial role in maintaining the cultural heritage and architectural significance of the area. The interest payments on the construction loan that funded the restoration efforts highlight the commitment of Iota Court Preservation Association Inc to ensure the longevity and beauty of this historical landmark. Through their dedicated efforts, they have contributed to the enrichment of the arts and cultural landscape of Madison and have ensured that this piece of history remains accessible to future generations.
This information is meant to be a general summary of Iota Court Preservation Association 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: $78
- Gross Receipts: $53,234
Assets and Liabilities:
- Total Assets: $9,157
- Total Liabilities: $205,372
- Net Assets: -$196,215
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Organization Details
Founding Year
1987
Phone
(414) 207-2482Principal Officer
Thomas Shield
Main Address
PO BOX 1582, MADISON, WI, 537011582
NTEE Category
Code: A80 - Arts
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