Overview
What is Industry Advancement Fund Inc?
Industry Advancement Fund Inc is a nonprofit organization situated in Southlake, Texas. Their primary mission is to support research projects with colleges, universities, and other organizations in the drilled shaft industry. The aim is to enhance technology and safety within this sector through funding and scholarly collaborations. This philanthropic entity focuses on conducting and funding research initiatives, thereby contributing to the development and improvement of the drilled shaft industry.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. This rating reflects a moderate level of accountability and financial health for Industry Advancement Fund Inc. The accountability and finance score of 73 indicates that while the organization performs decently, there may be areas for improvement to enhance transparency and operational effectiveness.
One of the notable strengths of Industry Advancement Fund Inc is its governance structure, which is fully independent with 100% of its board members being independent. Additionally, the organization maintains a strong financial position with a low liabilities to assets ratio of 0.50%, indicating sound management of resources. The program expense ratio of 78.97% suggests that a significant portion of its expenditures is directed toward its programs, aligning with its mission.
However, despite these positives, the overall rating of Two Stars suggests that there may be some gaps in performance or financial practices that could be addressed. Users and stakeholders are encouraged to look for more detailed information on the organization's overall impact and program effectiveness to ensure their support is well-placed.
This AI summary has been generated from information found on Charity Navigator.
Is Industry Advancement Fund Inc legitimate?
Industry Advancement Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Industry Advancement Fund 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
What is the mission statement of Industry Advancement Fund Inc?
Industry Advancement Fund Inc's mission is centered around conducting research and providing scholarships in the drilled shaft industry. Their primary objective is to enhance the technology and ensure the safety within this sector. To achieve this, they offer financial support to various research projects in collaboration with colleges, universities, and other organizations. This commitment to research aims to drive significant improvements and advancements within the drilled shaft industry.
Who is the CEO of Industry Advancement Fund Inc?
A Roy Kern Jr is the Trustee of Industry Advancement Fund Inc.
What is the revenue of Industry Advancement Fund Inc?
Industry Advancement Fund Inc's revenue in 2022 was $64,490.
Who are the executives of Industry Advancement Fund Inc and what are their salaries?
There 5 volunteers at Industry Advancement Fund Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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 Industry Advancement Fund Inc?
Industry Advancement Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Industry Advancement Fund Inc
Industry Advancement Fund Inc is committed to driving advancements in the drilled shaft industry through research and scholarships. Their mission is centered around providing funding for research projects in collaboration with colleges, universities, and other organizations. This endeavor aims to enhance the technology and ensure safety standards within the drilled shaft industry. By investing in research, Industry Advancement Fund Inc contributes to the development of innovative solutions and improved practices, ultimately benefiting the entire drilled shaft sector.
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Impact
August, 2024
Industry Advancement Fund Inc's impact is evident in its commitment to advancing research and scholarships in the drilled shaft industry. By providing funding for research projects with colleges, universities, and other organizations, they contribute to the improvement of technology and safety within this sector. This dedication ultimately enhances the efficiency and safety standards of the drilled shaft industry, benefiting both professionals and the wider community.
This information is meant to be a general summary of Industry Advancement Fund 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: $57,965
- Gross Receipts: $64,490
Assets and Liabilities:
- Total Assets: $1,401,154
- Total Liabilities: $0
- Net Assets: $1,401,154
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Organization Details
Founding Year
1986
Phone
(469) 359-6000Principal Officer
A Roy Kern Jr
Main Address
PO BOX 93583, SOUTHLAKE, TX, 75019
NTEE Category
Code: S41 - Community improvement
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