Overview
What is Louisville Regional Airlift Development Inc?
Louisville Regional Airlift Development Inc, headquartered in Louisville, Kentucky, is a nonprofit organization with a mission to enhance the region's connectivity by establishing new nonstop air service routes from Louisville International Airport. They achieve this objective by collaborating with local civic and business leaders, sharing upfront risks with airlines, and agreeing to fly new routes as they become available. The organization also maximizes airport-based incentives and marketing support for each new route, aiming to tap into significant domestic and international markets over an extended period. Their efforts aim to deliver substantial benefits to the region as a whole.
Official website here: www.lradinc.com
Is Louisville Regional Airlift Development Inc legitimate?
Louisville Regional Airlift Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Louisville Regional Airlift Development 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.
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Official website here: www.lradinc.com
What is the mission statement of Louisville Regional Airlift Development Inc?
The Louisville Regional Airlift Development Inc's mission is centered around developing new nonstop air service routes, primarily from a specific airport. This mission aims to provide substantial benefits to the entire region, opening up access to new and significant domestic and international markets over an extended period. To achieve this, the organization encourages civic and business leaders to participate in revenue guarantees, agree to fly new nonstop routes, and maximize airport-based incentives and marketing support for each new route.
Official website here: www.lradinc.com
Who is the CEO of Louisville Regional Airlift Development Inc?
Koleman Karleski is the Director of Louisville Regional Airlift Development Inc.
Official website here: www.lradinc.com
What is the revenue of Louisville Regional Airlift Development Inc?
Louisville Regional Airlift Development Inc's revenue in 2022 was $250,000.
Official website here: www.lradinc.com
Who are the executives of Louisville Regional Airlift Development Inc and what are their salaries?
There 20 volunteers at Louisville Regional Airlift Development Inc.
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Official website here: www.lradinc.com
Where can I find the form 990 for Louisville Regional Airlift Development Inc?
Louisville Regional Airlift Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lradinc.com
Learn more at the official website: www.lradinc.com
Mission Statement of Louisville Regional Airlift Development Inc
Louisville Regional Airlift Development Inc, or LRAD for short, is an organization with a straightforward mission. Their primary objective is to develop new nonstop air service routes from Louisville International Airport, aiming to bring significant benefits to the entire region. This mission extends to tapping into both domestic and international markets over a multi-year period.
To achieve this goal, LRAD relies on the cooperation of local civic and business leaders. This collaboration involves several key elements. Firstly, these leaders participate in minimum revenue guarantees, sharing the initial risk with airlines. Secondly, they commit to flying new nonstop routes as soon as they become available. Lastly, they maximize airport-based incentives and marketing support for each new route, ensuring their success.
In summary, Louisville Regional Airlift Development Inc is dedicated to expanding nonstop air travel options from Louisville International Airport, targeting both domestic and international markets. This mission is made possible through a strategic partnership with local civic and business leaders, who contribute financially and by flying new routes, as well as by leveraging airport incentives and marketing support.
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Impact
October, 2024
Louisville Regional Airlift Development Inc significantly influences the region by enhancing air travel connectivity through the development of new nonstop service routes from Louisville International Airport (SDF). By focusing on expanding access to vital domestic and international markets, LRAD creates immense benefits for the local economy, businesses, and community.
The organization engages civic and business leaders to ensure the success of new routes by committing to minimum revenue guarantees, which help mitigate the financial risks for airlines. This collaborative approach encourages airlines to establish new flights, fostering growth in tourism and trade and making Louisville more accessible.
Furthermore, by agreeing to utilize these new nonstop routes as they launch, local stakeholders actively support and promote air travel, ensuring sustainability and continual growth. The maximization of airport-based incentives and marketing for each new route enhances awareness and encourages passenger uptake, ultimately leading to a stronger, more connected region. Through its strategic initiatives, LRAD not only strengthens the airport's role but also amplifies Louisville's footprint in the competitive landscape of air travel.
This information is meant to be a general summary of Louisville Regional Airlift Development 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.
- Gross Receipts: $250,000
Assets and Liabilities:
- Total Assets: $1,275,147
- Total Liabilities: $0
- Net Assets: $1,275,147
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Organization Details
Founding Year
2017
Phone
(877) 829-5500Principal Officer
Koleman Karleski
Main Address
2800 RIVERS EDGE ROAD, LOUISVILLE, KY, 40222
Website
www.lradinc.comNTEE Category
Code: S30 - Community improvement
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