Overview
What is National Balloon Rally Charities Inc?
National Balloon Rally Charities Inc, based in Statesville, North Carolina, is a small-scale nonprofit organization. Their primary activity involves organizing an annual balloon rally in October, with the proceeds generously donated to local charities. This event serves as a significant source of support for various community causes, demonstrating the organization's dedication to giving back to the local community. With a modest team of one employee, National Balloon Rally Charities Inc embodies the spirit of community engagement and philanthropy.
Official website here: www.carolinaballoonfest.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating.
The National Balloon Rally Charities Inc has received a rating of 73%, indicating a moderate level of accountability and financial health. The organization demonstrates strong governance features, with an entirely independent board and a solid track record in material asset management and expense allocation. Key metrics such as program expense ratio and liabilities to assets ratio reflect efficient use of resources, which is a positive indicator for potential donors.
However, there are notable limitations in their financial practices. The organization lacks a whistleblower policy and has not implemented a document retention and destruction policy, both of which are critical components for ensuring transparency and accountability. These shortcomings suggest areas for improvement in governance that could enhance overall trust and reliability among stakeholders.
Overall, while National Balloon Rally Charities Inc shows strengths in board independence and financial ratios, addressing the identified gaps could help elevate its standing and effectiveness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is National Balloon Rally Charities Inc legitimate?
National Balloon Rally Charities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. National Balloon Rally Charities 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: $39,427
For more financial information, click here
Official website here: www.carolinaballoonfest.com
What is the mission statement of National Balloon Rally Charities Inc?
National Balloon Rally Charities Inc. annually organizes a balloon rally in October, with the proceeds from this event being distributed to various local charities. This mission reflects their commitment to contributing to the betterment of their community by raising funds for deserving causes. The balloon rally serves as a unique event, drawing attention and support from the public, ultimately benefiting numerous local charities. The organization's mission is centered around this annual event, which highlights their dedication to making a positive impact on the community through charitable contributions.
Official website here: www.carolinaballoonfest.com
Who is the CEO of National Balloon Rally Charities Inc?
Bob Thompson is the Chairman of National Balloon Rally Charities Inc.
Official website here: www.carolinaballoonfest.com
What is the revenue of National Balloon Rally Charities Inc?
National Balloon Rally Charities Inc's revenue in 2022 was $806,703.
Official website here: www.carolinaballoonfest.com
Who are the executives of National Balloon Rally Charities Inc and what are their salaries?
The average compensation at National Balloon Rally Charities Inc during 2022 was $39,427. There is 1 employee and 900 volunteers at National Balloon Rally Charities Inc.
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Official website here: www.carolinaballoonfest.com
Where can I find the form 990 for National Balloon Rally Charities Inc?
National Balloon Rally Charities Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.carolinaballoonfest.com
Learn more at the official website: www.carolinaballoonfest.com
Mission Statement of National Balloon Rally Charities Inc
National Balloon Rally Charities Inc, as its name suggests, is an organization that spearheads an annual balloon rally each October. The primary objective of this nonprofit is to raise funds through this event, which are then distributed to various local charities. By holding this annual rally, National Balloon Rally Charities Inc contributes to the support and betterment of numerous community initiatives, demonstrating its commitment to giving back and making a positive impact.
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Impact
July, 2024
National Balloon Rally Charities Inc holds an annual balloon rally in October, with the proceeds distributed to local charities in Statesville, NC. This impactful event brings the community together to support various charitable organizations, making a difference in the lives of those in need. Through their philanthropic efforts, National Balloon Rally Charities Inc contributes to the well-being and welfare of the local community by raising funds and awareness for important causes.
This information is meant to be a general summary of National Balloon Rally Charities 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: $573
- Program Service Revenue: $749,350
- Gross Receipts: $806,703
Assets and Liabilities:
- Total Assets: $479,634
- Total Liabilities: $41,408
- Net Assets: $438,226
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FESTIVAL SALES
Revenue
$656,757
SPONSORSHIP
Revenue
$47,750
BOOTH RENTAL
Revenue
$34,743
RV PARKING
Revenue
$6,300
REGISTRATION
Revenue
$2,800
Organization Details
Phone
(704) 873-2892Principal Officer
Bob Thompson
Main Address
PO BOX 267, STATESVILLE, NC, 28687
Website
www.carolinaballoonfest.comNTEE Category
Code: T01 - Philanthropy
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