Overview
What is Tales Of The Cocktail Foundation Inc?
Tales Of The Cocktail Foundation Inc is a nonprofit organization situated in Metairie, Louisiana, dedicated to uplifting the global hospitality industry. Through annual events, educational seminars, tastings, and networking opportunities, the foundation showcases the latest trends and innovations in the cocktail world. The Education Committee and Cocktail Apprentice Program play key roles, offering education, resources, and mentorship to industry professionals. Additionally, the foundation grants funding to emerging and established programs and organizations that aim to bring about meaningful change in the drinks industry. The organization also advocates for better support for U.S. hospitality workers and partners with brands to promote campaigns and competitions aligned with its mission. The Cocktail Apprentice Program is a unique mentorship program for aspiring bartenders, providing them with valuable experiences during Tales of the Cocktail.
Official website here: www.talesofthecocktail.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 39%
Tales Of The Cocktail Foundation Inc has received a Zero-Star out of Four Star rating from Charity Navigator, highlighting significant concerns regarding its accountability and financial practices. The organization demonstrates a low level of governance, with no independent board members and missing critical policies such as a conflict of interest and whistleblower policy. Additionally, financial transparency appears to be lacking, with no financial statements available and a concerning liabilities to assets ratio of 152.22%.
Despite these governance issues, the organization allocates a substantial portion of its budget to program expenses, achieving a program expense ratio of 81.34%. This suggests that when funds are utilized, they are primarily directed towards its mission-related activities. However, the absence of independent oversight raises questions about the overall financial health and sustainability of the organization.
Overall, while Tales Of The Cocktail Foundation Inc shows some strength in program expense allocation, the significant deficiencies in governance and transparency are concerning. Potential donors and stakeholders may want to approach with caution and seek additional information before supporting the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Tales Of The Cocktail Foundation Inc legitimate?
Tales Of The Cocktail Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tales Of The Cocktail Foundation 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: $1,079,741
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.talesofthecocktail.org
What is the mission statement of Tales Of The Cocktail Foundation Inc?
Tales of the Cocktail Foundation Inc is a non-profit organization dedicated to educating, advancing, and supporting the global hospitality industry. Its mission is to create a lasting impact in host communities by providing education, training, resources, and networking opportunities to individuals within the drinks industry. The foundation achieves this through annual events, seminars, and workshops, guided by the Education Committee and Cocktail Apprentice Program. It also supports emerging and existing programs and organizations that demonstrate the ability to make meaningful change in the global drinks industry. Furthermore, the foundation collaborates with brands and advocates for better support of U.S. hospitality workers within the drinks industry. The Cocktail Apprentice Program is an exclusive mentorship program for aspiring bartenders, offering them valuable industry experience and opportunities for growth.
Official website here: www.talesofthecocktail.org
Who is the CEO of Tales Of The Cocktail Foundation Inc?
Gary N Solomon Jr is the Chief Executive Officer of Tales Of The Cocktail Foundation Inc. The CEO's salary of Tales Of The Cocktail Foundation Inc is $142,600 and their total compensation is $146,993.
Official website here: www.talesofthecocktail.org
What is the revenue of Tales Of The Cocktail Foundation Inc?
Tales Of The Cocktail Foundation Inc's revenue in 2022 was $4,556,732.
Official website here: www.talesofthecocktail.org
Who are the executives of Tales Of The Cocktail Foundation Inc and what are their salaries?
The average compensation at Tales Of The Cocktail Foundation Inc during 2022 was $38,562. There are 28 employees and 20 volunteers at Tales Of The Cocktail Foundation Inc.
Here are 4 key members and their salaries (Tales Of The Cocktail Foundation Inc's CEO's salary is $142,600 and their total compensation is $146,993):
- Compensation: $142,600
- Related: $0
- Other: $4,393
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.talesofthecocktail.org
Where can I find the form 990 for Tales Of The Cocktail Foundation Inc?
Tales Of The Cocktail Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.talesofthecocktail.org
Learn more at the official website: www.talesofthecocktail.org
Mission Statement of Tales Of The Cocktail Foundation Inc
Tales of the Cocktail Foundation Inc is a non-profit organization with a mission to educate, advance, and support the global hospitality industry. This mission is carried out in various ways. The foundation serves as a platform for the drinks industry, hosting an annual event known as Tales of the Cocktail, which offers seminars, tastings, competitions, and networking opportunities. This event provides education, training, and resources to the drinks community, fostering a sense of unity and progress within the industry.
Beyond the annual event, Tales of the Cocktail Foundation Inc also extends its reach through various programs. It provides world-class education through seminars, where industry experts share ideas, trends, and best practices. The foundation also offers grants to emerging and existing programs and organizations that demonstrate a commitment to making meaningful changes in the global drinks industry. These grants are evaluated and selected by the Philanthropy and Development Committee.
Additionally, Tales of the Cocktail Foundation Inc works to advocate for better support of U.S. based hospitality workers within the drinks industry, with funding from the Conrad N. Hilton Foundation. The foundation also partners with brands to support campaigns and competitions that align with its mission, offering opportunities to the global drinks industry. One such partnership is the Cocktail Apprentice Program, an exclusive mentorship opportunity for up-and-coming bartenders to learn from industry leaders during Tales of the Cocktail. This program has provided valuable experiences to nearly 500 apprentices since its inception in 2008.
In summary, Tales of the Cocktail Foundation Inc is dedicated to the education, advancement, and support of the global hospitality industry. It achieves this through various programs and initiatives, including an annual event, world-class education seminars, grant-making, advocacy, and partnerships. The foundation's aim is to foster a strong, educated, and supportive community within the drinks industry.
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Impact
July, 2024
Tales of the Cocktail Foundation Inc's impact lies in its dedication to educating, advancing, and supporting the global hospitality industry. Through initiatives such as Tales of the Cocktail, the organization provides a platform for industry professionals to engage in educational seminars, tastings, competitions, and networking events. The Foundation's Education Committee ensures world-class education by presenting ideas, trends, and best practices to the global drinks industry.
Moreover, the Foundation's grant-making program supports emerging and existing programs and organizations that contribute to meaningful change in the global drinks industry. By advocating for better support for U.S.-based hospitality workers and partnering with brands to align campaigns with its mission, the Foundation creates opportunities and raises awareness within the industry.
The Cocktail Apprentice Program stands out as an exclusive mentorship program that has benefited nearly 500 aspiring bartenders since 2008. By providing valuable hands-on experience at high-profile events, the program nurtures talent and contributes to the growth of the industry. Overall, Tales of the Cocktail Foundation Inc's commitment to education, support, and community-building yields a lasting impact on the global hospitality sector.
This information is meant to be a general summary of Tales Of The Cocktail Foundation 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.
- Program Service Revenue: $4,048,807
- Gross Receipts: $4,556,732
Assets and Liabilities:
- Total Assets: $1,572,536
- Total Liabilities: $2,393,727
- Net Assets: -$821,191
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DIGITAL SPONSORSHIPS
Revenue
$93,000
EVENT MANAGEMENT
Revenue
$1,188,230
TALES OF THE COCKTAIL
Revenue
$2,569,942
TALES ON TOUR - SINGAPORE
Revenue
$197,635
Organization Details
Founding Year
2006
Phone
(504) 948-0511Principal Officer
Gary N Solomon Jr
Main Address
3500 N CAUSEWAY BLVD STE 1145, METAIRIE, LA, 70002
Website
www.talesofthecocktail.orgNTEE Category
Code: A990 - Arts
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