Overview
What is Lincoln Independent Business Association Foundation?
The Lincoln Independent Business Association Foundation is a nonprofit organization situated in Lincoln, Nebraska, specifically at 620 N 48 ST STE 205. Its primary objective is to promote the American free enterprise system by supporting the activities of the Lincoln Independent Business Association. One of its key missions is to educate the public and youth on this system. A significant part of its work involves supervising the granting of scholarships for college students, contributing to their higher education. Beyond scholarships, the foundation also engages in charitable donations, entrepreneurial assistance, and preserving the Lincoln Independent Business Association.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65% (Two-Star out of Four Star rating)
The Lincoln Independent Business Association Foundation has received a Two-Star rating from Charity Navigator, indicating some concerns regarding its overall accountability and financial health. The foundation excels in several areas, notably having a fully independent board and a strong score in managing its assets, with no material diversions reported. These strengths contribute positively to the organization's governance and operational integrity.
However, the foundation's rating is primarily impacted by its missing policies for whistleblower protection and document retention and destruction, which earned it zero points in those areas. While the organization demonstrates good financial management with a liabilities to assets ratio of 0.00% and a program expense ratio of 58.36%, there is room for improvement in transparency and adherence to best practices.
Overall, while the Lincoln Independent Business Association Foundation shows strengths in board independence and financial management, its lack of certain key policies may raise questions about its accountability and commitment to best practices in governance.
This AI summary has been generated from information found on Charity Navigator.
Is Lincoln Independent Business Association Foundation legitimate?
Lincoln Independent Business Association Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lincoln Independent Business Association 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
What is the mission statement of Lincoln Independent Business Association Foundation?
The Lincoln Independent Business Association Foundation's mission is centered around educating the public and youth about the American free enterprise system. To accomplish this, they support the activities of the Lincoln Independent Business Association. Their mission extends beyond education, also involving charitable donations, entrepreneurial assistance, and the perpetuation of the Lincoln Independent Business Association. In addition, the foundation oversees the granting of scholarships for college students.
Who is the CEO of Lincoln Independent Business Association Foundation?
Bruce Bailey is the President of Lincoln Independent Business Association Foundation.
What is the revenue of Lincoln Independent Business Association Foundation?
Lincoln Independent Business Association Foundation's revenue in 2023 was $70,627.
Who are the executives of Lincoln Independent Business Association Foundation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Lincoln Independent Business Association Foundation?
Lincoln Independent Business Association Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lincoln Independent Business Association Foundation
The Lincoln Independent Business Association Foundation, a nonprofit organization, is dedicated to enlightening the public and youth about the principles of American free enterprise. It achieves this goal by backing the initiatives of the Lincoln Independent Business Association. Beyond this, the foundation's mission extends to strengthening and supporting the local business community. It accomplishes this through various means, including youth education, charitable donations, entrepreneurial assistance, and the preservation of the Lincoln Independent Business Association. One of their significant roles is overseeing the granting of scholarships for college students, providing financial aid to aspiring young professionals who aim to contribute to the business sector.
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Impact
August, 2024
The Lincoln Independent Business Association Foundation's impact is significant in educating the public and youth about the American free enterprise system. By supporting the activities of the Lincoln Independent Business Association, the foundation plays a crucial role in strengthening and supporting the Lincoln business community. Through initiatives such as supervising scholarship grants for college students and providing entrepreneurial assistance, the foundation contributes to the development of future business leaders and fosters the growth of independent businesses in Lincoln, NE. Overall, the foundation's efforts facilitate youth education, charitable donations, and the perpetuation of the Lincoln Independent Business Association, thereby making a positive impact on the local business environment.
This information is meant to be a general summary of Lincoln Independent Business Association 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 2023.
- Investment Income: $40,108
- Gross Receipts: $236,970
Assets and Liabilities:
- Total Assets: $919,088
- Total Liabilities: $0
- Net Assets: $919,088
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Organization Details
Founding Year
1995
Phone
(402) 466-3419Principal Officer
Bruce Bailey
Main Address
620 N 48 ST STE 205, LINCOLN, NE, 685043466
NTEE Category
Code: O12 - Youth development
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