Overview
What is Havasu Balloon Festival And Fair Inc?
Havasu Balloon Festival and Fair Inc is a nonprofit organization situated in Lake Havasu City, Arizona. Their primary mission is to organize and manage the annual festival, with the profits generated being donated to various other 501(C)(3) charitable organizations. This nonprofit raises funds for its cause through sponsorships, vendor booths, and ticket sales from attendees at the event. The festival's purpose is to bring joy and entertainment to the community while simultaneously contributing to the welfare of other nonprofit organizations.
Official website here: www.havasuballoonfest.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54%, One-Star out of Four Stars
The Havasu Balloon Festival and Fair Inc has received a low rating of 54%, reflecting significant concerns regarding its accountability and financial management. Notably, the organization lacks independent board members, which raises questions about governance and oversight. Additionally, the charity has not provided financial statements, limiting transparency for potential donors.
Despite its shortcomings in governance and policy adherence, the organization has achieved a high program expense ratio of 100%, indicating that all of its expenses go toward programming. This suggests a commitment to fulfilling its mission, although the lack of financial documentation raises concerns about how effectively resources are managed.
The absence of key policies, such as a conflict of interest and whistleblower policy, further compounds these issues, signaling a need for improved oversight and accountability measures. Overall, while the festival may contribute positively to the community, the organizational weaknesses highlighted in the rating warrant caution from potential supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Havasu Balloon Festival And Fair Inc legitimate?
Havasu Balloon Festival And Fair Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Havasu Balloon Festival And Fair 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
For more financial information, click here
Official website here: www.havasuballoonfest.com
What is the mission statement of Havasu Balloon Festival And Fair Inc?
The Havasu Balloon Festival And Fair Inc is organized with the primary goal of operating the festival. The profits generated from the event are then channeled towards supporting other 501(C)(3) organizations. This is achieved through various means, including securing sponsorships, setting up vendor booths, and attracting paid attendees at the event. In essence, the mission of Havasu Balloon Festival And Fair Inc is to utilize the festival as a platform to raise funds, which are then used to contribute to the causes of other non-profit organizations.
Official website here: www.havasuballoonfest.com
Who is the CEO of Havasu Balloon Festival And Fair Inc?
Steve Ticknor is the Director of Havasu Balloon Festival And Fair Inc.
Official website here: www.havasuballoonfest.com
What is the revenue of Havasu Balloon Festival And Fair Inc?
Havasu Balloon Festival And Fair Inc's revenue in 2022 was $554,969.
Official website here: www.havasuballoonfest.com
Who are the executives of Havasu Balloon Festival And Fair Inc and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.havasuballoonfest.com
Where can I find the form 990 for Havasu Balloon Festival And Fair Inc?
Havasu Balloon Festival And Fair Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.havasuballoonfest.com
Learn more at the official website: www.havasuballoonfest.com
Mission Statement of Havasu Balloon Festival And Fair Inc
Havasu Balloon Festival And Fair Inc is an organization with a unique mission. Its primary goal is to organize and manage a balloon festival, with the profits generated from this event being channeled towards supporting other 501(C)(3) organizations. This nonprofit raises funds for its cause through various means, including sponsorships, vendor booths, and paid attendees at the event. By doing so, Havasu Balloon Festival And Fair Inc contributes to the broader charitable sector, utilizing its balloon festival as a platform for fundraising. The organization's activities are centered around the successful operation of this annual event, ultimately benefiting other nonprofit organizations.
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Impact
July, 2024
Havasu Balloon Festival And Fair Inc's impact can be seen in its contribution to supporting other 501(c)(3) organizations through the profits generated from the festival. By organizing the Balloon Festival and Fair, the organization not only provides a platform for entertainment and recreation but also raises funds through sponsorships, vendor booths, and paid attendance. These funds are then channeled back into the community to support various charitable causes and initiatives. Overall, the festival serves as a catalyst for positive social impact and community development in Lake Havasu City, Arizona.
This information is meant to be a general summary of Havasu Balloon Festival And Fair 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.
- Program Service Revenue: $548,070
- Gross Receipts: $554,969
Assets and Liabilities:
- Total Assets: $147,153
- Total Liabilities: $0
- Net Assets: $147,153
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$548,070
Organization Details
Founding Year
2013
Phone
(928) 680-1994Principal Officer
Steve Ticknor
Main Address
PO BOX 4564, LAKE HAVASU CITY, AZ, 86403
Website
www.havasuballoonfest.comNTEE Category
Code: N99 - Recreation
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