Overview
What is Lawrenceville-Vincennes Airport Development Foundation Inc?
Lawrenceville-Vincennes Airport Development Foundation Inc is a nonprofit organization based in Lawrenceville, Illinois, specifically located at 13608 Hangar Road. Its primary mission is to enhance, improve, benefit, and develop the Lawrenceville-Vincennes Municipal Airport and Mid America Air Center. By doing so, the foundation aims to foster industrial development, promote commercial, business, retail, and other supporting services. These initiatives are intended to generate job opportunities, broaden the tax base, and enhance the overall quality of living in the area. The organization supported the purchase of an airplane by a local group to stimulate interest in personal flying and increase flight instruction.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 stars (40%)
The Lawrenceville-Vincennes Airport Development Foundation Inc has received a low rating of 40% from Charity Navigator, resulting in a Zero-Star out of Four Stars designation. This rating is based entirely on an Accountability & Finance score, indicating significant concerns regarding the organization's financial management, particularly in the area of program expenses.
On a positive note, the foundation has achieved high marks for governance aspects, with a fully independent board of directors and no reported material diversion of assets. Additionally, the organization has a conflict of interest policy in place and documents its board meeting minutes, showcasing an adherence to good governance practices.
However, the major limitations lie in financial performance, as indicated by a 0% ratio for both liabilities to assets and program expenses. This raises questions about the foundation's operational effectiveness and its ability to allocate resources toward its mission. Overall, while the governance structure appears sound, the financial indicators suggest a lack of transparency and effectiveness in fulfilling the foundation's objectives.
This AI summary has been generated from information found on Charity Navigator.
Is Lawrenceville-Vincennes Airport Development Foundation Inc legitimate?
Lawrenceville-Vincennes Airport Development Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lawrenceville-Vincennes Airport Development 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.
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Other Salaries and Wages: $0
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What is the mission statement of Lawrenceville-Vincennes Airport Development Foundation Inc?
The Lawrenceville-Vincennes Airport Development Foundation Inc's mission is centered around enhancing, improving, and benefiting the Bi-State Authority's Lawrenceville-Vincennes Municipal Airport and Mid America Air Center. Their primary objective is to encourage industrial development, commercial activities, business growth, retail services, and other supporting services. By doing so, they aim to provide job opportunities, broaden the tax base, and improve the overall quality of living. Essentially, their mission is geared towards fostering growth and development in the related sectors, ultimately contributing to the betterment of the community.
Who is the CEO of Lawrenceville-Vincennes Airport Development Foundation Inc?
Allen Large is the President of Lawrenceville-Vincennes Airport Development Foundation Inc.
What is the revenue of Lawrenceville-Vincennes Airport Development Foundation Inc?
Lawrenceville-Vincennes Airport Development Foundation Inc's revenue in 2022 was $44,631.
Who are the executives of Lawrenceville-Vincennes Airport Development Foundation Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Lawrenceville-Vincennes Airport Development Foundation Inc?
Lawrenceville-Vincennes Airport Development Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lawrenceville-Vincennes Airport Development Foundation Inc
Lawrenceville-Vincennes Airport Development Foundation Inc is an organization dedicated to enhancing, improving, benefiting, and developing the Lawrenceville-Vincennes Municipal Airport and Mid America Air Center. Their mission is to encourage industrial development, commercial, business, retail, and other supporting services within the region. These initiatives aim to provide job opportunities, broaden the tax base, and ultimately improve the quality of living for the community. By fostering growth in these sectors, the Foundation seeks to contribute positively to the local economy and overall well-being of the area.
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Impact
August, 2024
Lawrenceville-Vincennes Airport Development Foundation Inc plays a crucial role in enhancing and improving the Lawrenceville-Vincennes Municipal Airport and Mid America Air Center. By supporting the purchase of an airplane by a local group to promote increased interest in personal flying and flight instruction, the foundation contributes to the development of industrial, commercial, business, retail, and other supporting services in the area. This, in turn, leads to job opportunities, broadens the tax base, and improves the quality of living for the community. Through its efforts, the foundation positively impacts community improvement in Lawrenceville, IL.
This information is meant to be a general summary of Lawrenceville-Vincennes Airport Development 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: $44,531
- Gross Receipts: $44,631
Assets and Liabilities:
- Total Assets: $1,446,146
- Total Liabilities: $0
- Net Assets: $1,446,146
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Organization Details
Founding Year
2003
Phone
(618) 943-5733Principal Officer
Allen Large
Main Address
13608 HANGER ROAD, LAWRENCEVILLE, IL, 62439
NTEE Category
Code: S32 - Community improvement
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