Overview
What is Marion County Industrial Foundation?
The Marion County Industrial Foundation is a nonprofit organization situated in Lebanon, Kentucky, specifically at 223 North Spalding Avenue. Their primary focus is on promoting industrial development within Lebanon and Marion County. They have a modest workforce of just two individuals, but their impact extends beyond their small team. The attached PDF provides a comprehensive list of their accomplishments in the field of industrial development. The organization's mission is centered around fostering growth and progress in the industrial sector of their region.
Official website here: www.marioncountyky.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, Two-Star out of Four Star rating.
The Marion County Industrial Foundation has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The organization scores particularly well in aspects such as having a majority independent board and a strong program expense ratio, suggesting that their funds are being utilized effectively towards their mission. However, the overall score reflects some significant areas for improvement, particularly in governance policies.
The foundation performs well in areas like material diversion of assets and the liabilities to assets ratio, indicating sound financial management. Nevertheless, it lacks essential governance policies, including a conflict of interest policy, a whistleblower policy, and guidelines for document retention and destruction. The absence of these policies may raise concerns regarding transparency and accountability.
Overall, while the Marion County Industrial Foundation demonstrates strengths in financial management and board independence, its lack of critical governance frameworks limits its overall rating. Enhancing these areas could potentially improve its standing and reassure stakeholders about its commitment to transparency and ethical practices.
This AI summary has been generated from information found on Charity Navigator.
Is Marion County Industrial Foundation legitimate?
Marion County Industrial Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marion County Industrial 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: $81,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $50,833
For more financial information, click here
Official website here: www.marioncountyky.com
What is the mission statement of Marion County Industrial Foundation?
The Marion County Industrial Foundation's mission is centered around promoting industrial development in Lebanon and Marion County, Kentucky. Their primary objective is to foster growth and development within the industrial sector of these regions. While specific achievements are detailed in the attached PDF, the core focus of the foundation lies in driving industrial advancement.
Official website here: www.marioncountyky.com
Who is the CEO of Marion County Industrial Foundation?
Bobby Miles is the President of Marion County Industrial Foundation.
Official website here: www.marioncountyky.com
What is the revenue of Marion County Industrial Foundation?
Marion County Industrial Foundation's revenue in 2022 was $726,204.
Official website here: www.marioncountyky.com
Who are the executives of Marion County Industrial Foundation and what are their salaries?
The average compensation at Marion County Industrial Foundation during 2022 was $65,916. There are 2 employees at Marion County Industrial Foundation.
Here are 13 key members and their salaries:
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Official website here: www.marioncountyky.com
Where can I find the form 990 for Marion County Industrial Foundation?
Marion County Industrial Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.marioncountyky.com
Learn more at the official website: www.marioncountyky.com
Mission Statement of Marion County Industrial Foundation
The Marion County Industrial Foundation is dedicated to promoting industrial development in Lebanon and Marion County, Kentucky. Their mission is centered around fostering growth and progress in the industrial sector within these regions. While the provided information does not include specific details about the methods or initiatives they employ, it is clear that their focus is on driving industrial development in Lebanon and Marion County. A PDF attached to the information likely provides a more comprehensive list of their accomplishments and strategies in this area.
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Impact
July, 2024
Marion County Industrial Foundation has significantly contributed to the economic growth and development of Lebanon and Marion County, Kentucky. Through its focus on industrial development, the foundation has played a crucial role in creating job opportunities, attracting new businesses, and fostering a more prosperous local economy. Its efforts have not only benefited the community through increased employment opportunities but have also led to overall improvement and enhancement of the region.
This information is meant to be a general summary of Marion County Industrial 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: $32,209
- Program Service Revenue: $95,845
- Gross Receipts: $773,366
Assets and Liabilities:
- Total Assets: $8,394,911
- Total Liabilities: $1,393,829
- Net Assets: $7,001,082
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Organization Details
Founding Year
1973
Phone
(270) 692-6002Principal Officer
Bobby Miles
Main Address
223 NORTH SPALDING AVENUE, LEBANON, KY, 40033
Website
www.marioncountyky.comNTEE Category
Code: S30 - Community improvement
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