Overview
What is Illinois Hotel & Lodging Educational Foundation?
The Illinois Hotel & Lodging Educational Foundation, abbreviated as IHLAEF, is a charitable organization with a 501(C)(3) status, serving as the educational arm of the Illinois Hotel & Lodging Association (IHLA). Headquartered in Chicago, Illinois, the foundation focuses on three key initiatives: scholarships, educational programming, and high school to career curriculum and workforce development. Dedicated to nurturing future hospitality professionals and continuous learning for current industry employees, IHLAEF strives to provide a supportive environment for individuals interested in the hotel and lodging sector. The foundation's mission reflects its commitment to fostering the growth and development of the hospitality workforce in Illinois.
Official website here: www.illinoishotels.org/educational-foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Stars)
The Illinois Hotel & Lodging Educational Foundation received a Three-Star rating from Charity Navigator, indicating a satisfactory performance in accountability and finance. The foundation has a strong independent board with 100% of its members being independent. Additionally, it has demonstrated solid financial health, with a program expense ratio of 93.51%, showing that a significant portion of its resources is directed towards its mission.
However, the organization has room for improvement in its governance practices. Notably, it lacks a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which are important for maintaining transparency and accountability. These gaps have contributed to a lower overall score, despite the strong financial metrics.
Overall, while the Illinois Hotel & Lodging Educational Foundation shows a strong commitment to its programs and financial management, addressing its governance shortcomings could enhance its standing and trustworthiness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Illinois Hotel & Lodging Educational Foundation legitimate?
Illinois Hotel & Lodging Educational Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Illinois Hotel & Lodging Educational Foundation 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
For more financial information, click here
Official website here: www.illinoishotels.org/educational-foundation
What is the mission statement of Illinois Hotel & Lodging Educational Foundation?
The Illinois Hotel & Lodging Educational Foundation, an educational arm of the Illinois Hotel & Lodging Association, is committed to nurturing the next generation of hospitality employees and offering continuous learning opportunities for current industry workers. Their mission is primarily focused on three key initiatives: providing scholarships, organizing educational programming, and developing high school to career curriculums and workforce development strategies. The foundation aims to contribute positively to the hospitality sector by investing in its future workforce.
Official website here: www.illinoishotels.org/educational-foundation
Who is the CEO of Illinois Hotel & Lodging Educational Foundation?
Nabil Moubayed is the Chairman of Illinois Hotel & Lodging Educational Foundation. The CEO's salary of Illinois Hotel & Lodging Educational Foundation is $0 and their total compensation is $335,234.
Official website here: www.illinoishotels.org/educational-foundation
What is the revenue of Illinois Hotel & Lodging Educational Foundation?
Illinois Hotel & Lodging Educational Foundation's revenue in 2022 was $40,268.
Official website here: www.illinoishotels.org/educational-foundation
Who are the executives of Illinois Hotel & Lodging Educational Foundation and what are their salaries?
There 19 volunteers at Illinois Hotel & Lodging Educational Foundation.
Here are 18 key members and their salaries (Illinois Hotel & Lodging Educational Foundation's CEO's salary is $0 and their total compensation is $335,234):
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Official website here: www.illinoishotels.org/educational-foundation
Where can I find the form 990 for Illinois Hotel & Lodging Educational Foundation?
Illinois Hotel & Lodging Educational Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.illinoishotels.org/educational-foundation
Learn more at the official website: www.illinoishotels.org/educational-foundation
Mission Statement of Illinois Hotel & Lodging Educational Foundation
The Illinois Hotel & Lodging Educational Foundation, a not-for-profit organization, is committed to nurturing future talent in the hospitality industry and offering ongoing education opportunities for current employees. This foundation, an educational arm of the Illinois Hotel & Lodging Association, concentrates on three significant initiatives: scholarships, educational programming, and high school to career curriculum and workforce development. By pursuing these initiatives, the Illinois Hotel & Lodging Educational Foundation aims to equip future hospitality professionals with the necessary skills and knowledge, while simultaneously supporting the ongoing growth and development of existing industry workers.
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Impact
August, 2024
The Illinois Hotel & Lodging Educational Foundation has a significant impact on the hospitality industry by providing mentorship to future hotel employees and offering continuing education opportunities for current industry professionals. Through initiatives such as scholarships, educational programming, and high school to career curriculum development, the foundation plays a crucial role in developing a skilled and knowledgeable workforce for the hospitality sector. Its dedication to education helps in fostering talent, promoting professional growth, and ensuring the industry's sustainability.
This information is meant to be a general summary of Illinois Hotel & Lodging Educational Foundation. 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: $8,267
- Gross Receipts: $52,905
Assets and Liabilities:
- Total Assets: $378,255
- Total Liabilities: $0
- Net Assets: $378,255
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Organization Details
Founding Year
1992
Phone
(312) 346-3135Principal Officer
Nabil Moubayed
Main Address
17 E MONROE STREET 325, CHICAGO, IL, 60603
NTEE Category
Code: B82I - Education
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