Overview
What is Vermilion Heritage Foundation?
The Vermilion Heritage Foundation is a nonprofit organization situated in Danville, Illinois, specifically at 158 N Vermilion Street. Their primary mission involves the restoration and preservation of historical buildings, with a significant focus on the Fischer Grand Opera House and the surrounding arts complex. This foundation serves as a regional arts hub for East Central Illinois, offering educational and artistic opportunities to the local community. Their activities extend beyond preservation, as they aim to provide a diverse range of cultural experiences to the Central Illinois region. With a team of three dedicated individuals, the Vermilion Heritage Foundation is committed to enriching the community's cultural landscape.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating. This rating indicates that while the Vermilion Heritage Foundation demonstrates some strengths in financial accountability and transparency, there are areas that need improvement. The Foundation has a solid score for independent board governance, with 100% of board members being independent, which is a positive indicator of its commitment to accountability.
The organization exhibits strong practices in financial oversight, reflected in its perfect score for audit and oversight committee functions and a low liabilities-to-assets ratio of 11.29%. However, the program expense ratio of 62.95% suggests that a significant portion of its budget may not be allocated directly to its programs, which could raise concerns about overall efficiency and impact.
Overall, while the Vermilion Heritage Foundation shows strengths in governance and financial management, its lower rating highlights the need for enhancements in program funding and resource allocation to improve its overall effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Vermilion Heritage Foundation legitimate?
Vermilion Heritage Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vermilion Heritage 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: $155,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Vermilion Heritage Foundation?
The Vermilion Heritage Foundation is dedicated to the restoration and preservation of historic buildings, specifically the Fischer Grand Opera House and Arts Complex. Their mission encompasses providing education and arts programming to the Central Illinois region. By operating the Fischer Grand Opera House as a regional arts complex, they contribute to the cultural landscape of East Central Illinois. Their activities aim to uphold the historical significance of these buildings while fostering an appreciation for art and education within the community.
Who is the CEO of Vermilion Heritage Foundation?
Jason Rome is the Director of Vermilion Heritage Foundation.
What is the revenue of Vermilion Heritage Foundation?
Vermilion Heritage Foundation's revenue in 2022 was $663,079.
Who are the executives of Vermilion Heritage Foundation and what are their salaries?
The average compensation at Vermilion Heritage Foundation during 2022 was $51,833. There are 3 employees and 10 volunteers at Vermilion Heritage Foundation.
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Where can I find the form 990 for Vermilion Heritage Foundation?
Vermilion Heritage Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Vermilion Heritage Foundation
The Vermilion Heritage Foundation is dedicated to preserving and restoring historic buildings, primarily focusing on the Fischer Grand Opera House and Arts Complex. This nonprofit organization aims to extend its efforts beyond preservation, providing educational and artistic experiences to the central Illinois region. By operating the Fischer Grand Opera House as a regional arts complex, Vermilion Heritage Foundation contributes to the cultural landscape of the community, promoting art and education for all.
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Impact
July, 2024
Vermilion Heritage Foundation's impact can be seen in its commitment to restoring and preserving historic buildings, specifically the Fischer Grand Opera House in Danville, IL. By operating the Fischer Grand Opera House as a regional arts complex for East Central Illinois, the foundation provides valuable education and arts experiences to the community. Through its mission of restoration and preservation, Vermilion Heritage Foundation plays a crucial role in maintaining the cultural heritage of the region and fostering artistic engagement among residents.
This information is meant to be a general summary of Vermilion Heritage 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: $158
- Program Service Revenue: $437,182
- Gross Receipts: $663,079
Assets and Liabilities:
- Total Assets: $4,768,544
- Total Liabilities: $538,393
- Net Assets: $4,230,151
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENT REVENUE
Revenue
$437,182
Organization Details
Founding Year
1983
Phone
(217) 213-6162Principal Officer
Jason Rome
Main Address
158 N VERMILION ST, DANVILLE, IL, 61832
NTEE Category
Code: A99 - Arts
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