Overview
What is Parking Facilities Corporation?
Parking Facilities Corporation is a nonprofit organization based in New Orleans, Louisiana, specifically at 1019 Constantinople Street in the ZIP code 70115. Their primary mission is to design, finance, construct, equip, maintain, and operate one or more parking garage facilities at the Louis Armstrong New Orleans International Airport. These parking facilities cater to both the traveling public and the employees of the New Orleans Aviation Board. The corporation's essential function is to ensure the seamless operation and maintenance of these parking structures, providing a convenient parking solution for airport visitors and employees.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Parking Facilities Corporation has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The overall score is driven by a strong performance in various areas such as board independence and financial transparency, reflecting a commitment to responsible governance. The charity has a majority of independent board members and follows best practices in conflict of interest, whistleblower, and document retention policies.
Strengths highlighted in the evaluation include perfect scores for program expenses and financial statements, suggesting that the organization effectively utilizes its funds for its intended purpose. The absence of material diversion of assets further underscores the charity's reliability and integrity in financial dealings.
However, the accountability score was impacted by a concerning liabilities-to-assets ratio of 117.81%, indicating potential financial instability or risks that may need addressing. While the organization demonstrates strong governance practices, ongoing attention to financial management will be crucial for its sustainability and growth.
This AI summary has been generated from information found on Charity Navigator.
Is Parking Facilities Corporation legitimate?
Parking Facilities Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Parking Facilities Corporation 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:
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What is the mission statement of Parking Facilities Corporation?
The Parking Facilities Corporation is dedicated to achieving the mission of designing, financing, constructing, equipping, maintaining, and operating one or more parking garage facilities. These garages are intended for the use of the traveling public and airport employees. The organization's primary purpose is to ensure the acquisition and management of parking facilities at an airport, providing essential services for both travelers and airport staff. The corporation's efforts focus on the design, financing, construction, and maintenance of these facilities, enabling the smooth operation and availability of parking spaces for airport goers.
Who is the CEO of Parking Facilities Corporation?
Kevin Ferguson is the Principal Officer of Parking Facilities Corporation.
What is the revenue of Parking Facilities Corporation?
Parking Facilities Corporation's revenue in 2022 was $19,234,934.
Who are the executives of Parking Facilities Corporation 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 Parking Facilities Corporation?
Parking Facilities Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Parking Facilities Corporation
Parking Facilities Corporation, or PFC, is a dedicated organization with a singular mission: to design, finance, construct, equip, maintain, and operate parking garage facilities, or cause them to be maintained and operated. This mission is primarily focused on serving two distinct groups: the traveling public and the employees of the New Orleans Aviation Board.
In simple terms, PFC is committed to creating and managing parking facilities at an airport for the convenience of the general public and the airport's employees. Their purpose extends beyond just providing parking spaces, as they take responsibility for the entire process, from planning and financing to construction and maintenance. This comprehensive approach ensures that the parking facilities are not only functional and efficient but also well-maintained and safe for use.
The organization's dedication to its mission is evident in its primary role at the Louis Armstrong New Orleans International Airport. PFC's parking facilities cater to the diverse needs of airport goers and employees, offering ample space for both short-term and long-term parking. The corporation's ability to manage and operate these facilities effectively and efficiently allows travelers and employees to focus on their respective journeys, knowing that their vehicles are secure and well taken care of.
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Impact
October, 2024
Parking Facilities Corporation plays a pivotal role in enhancing the infrastructure and services at Louis Armstrong New Orleans International Airport. By designing, financing, constructing, and maintaining parking garage facilities, it directly contributes to the convenience and efficiency of travel for the public and employees of the New Orleans Aviation Board.
The organization's presence alleviates parking issues, ensuring that travelers have reliable and accessible options when they arrive at the airport. This not only promotes smoother traffic flow but also improves overall customer satisfaction. Furthermore, the parking facilities support economic activity by accommodating both local workers and visitors, thereby enhancing the airport's role as a key hub for travel and commerce in the region.
By ensuring that the parking infrastructure is well-equipped and maintained, Parking Facilities Corporation enhances the overall experience at the airport, benefiting both the community and the traveling public.
This information is meant to be a general summary of Parking Facilities Corporation. 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: $189,213
- Program Service Revenue: $19,045,721
- Gross Receipts: $19,234,934
Assets and Liabilities:
- Total Assets: $103,165,713
- Total Liabilities: $121,547,597
- Net Assets: -$18,381,884
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARKING GARAGE OPERATIO
Revenue
$19,045,721
Organization Details
Founding Year
2000
Phone
(504) 620-5400Principal Officer
Kevin Ferguson
Main Address
1019 CONSTANTINOPLE ST, NEW ORLEANS, LA, 70115
NTEE Category
Code: S11 - Community improvement
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