Overview
What is Albuquerque International Balloon Fiesta Inc?
Albuquerque International Balloon Fiesta Inc is a nonprofit organization based in Albuquerque, New Mexico, dedicated to organizing and executing the annual Albuquerque International Balloon Fiesta. Through this event, they bring together hot air balloon enthusiasts from around the world, displaying their unique and colorful hot air balloons for public enjoyment. The organization ensures a successful and safe experience for attendees, providing entertainment, food vendors, and various activities.
Official website here: www.balloonfiesta.com
What are the reviews and ratings of this charity?
92% rating from Charity Navigator indicates that Albuquerque International Balloon Fiesta Inc has achieved a Four-Star out of Four Star rating, reflecting a strong commitment to accountability and finance. The score is based entirely on this beacon, showcasing the organization's solid financial practices and governance.
The nonprofit demonstrates excellent transparency with a fully independent board, consisting of 24 members, and has no issues with material diversion of assets. Their financial oversight is thorough, with an audit committee in place and significant focus on maintaining proper documentation and policies, although it is noted that a conflict of interest policy is missing.
Despite the absence of a conflict of interest policy, the organization effectively utilizes its resources, with over 78% of expenses directed toward programs. This financial efficiency, combined with a high accountability score, positions the Albuquerque International Balloon Fiesta Inc as a trustworthy nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Albuquerque International Balloon Fiesta Inc legitimate?
Albuquerque International Balloon Fiesta Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albuquerque International Balloon Fiesta 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: $236,460
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,206,847
For more financial information, click here
Official website here: www.balloonfiesta.com
What is the mission statement of Albuquerque International Balloon Fiesta Inc?
The Albuquerque International Balloon Fiesta Inc is dedicated to the annual organization and operation of this renowned event. Their mission focuses on bringing together people from around the world to celebrate the beauty and wonder of hot air balloons. Through this gathering, they foster a sense of community and excitement, showcasing the magical experience of hot air ballooning to audiences. Additionally, they may support related educational or charitable initiatives, contributing to the broader society and enhancing the impact of the event.
Official website here: www.balloonfiesta.com
Who is the CEO of Albuquerque International Balloon Fiesta Inc?
Sam Parks is the Director Of Operations of Albuquerque International Balloon Fiesta Inc.
Official website here: www.balloonfiesta.com
What is the revenue of Albuquerque International Balloon Fiesta Inc?
Albuquerque International Balloon Fiesta Inc's revenue in 2022 was $16,413,534.
Official website here: www.balloonfiesta.com
Who are the executives of Albuquerque International Balloon Fiesta Inc and what are their salaries?
The average compensation at Albuquerque International Balloon Fiesta Inc during 2022 was $41,237. There are 35 employees and 1144 volunteers at Albuquerque International Balloon Fiesta Inc.
Here are 27 key members and their salaries:
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Official website here: www.balloonfiesta.com
Where can I find the form 990 for Albuquerque International Balloon Fiesta Inc?
Albuquerque International Balloon Fiesta Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.balloonfiesta.com
Learn more at the official website: www.balloonfiesta.com
Mission Statement of Albuquerque International Balloon Fiesta Inc
Albuquerque International Balloon Fiesta Inc, a renowned organization, is dedicated to orchestrating and managing the annual Albuquerque International Balloon Fiesta. This fixture is a captivating event where hot air balloons take flight, drawing in spectators from all corners of the world. The mission of this esteemed nonprofit lies in the successful organization and execution of this enchanting spectacle.
The Albuquerque International Balloon Fiesta Inc's primary objective is to bring together balloon enthusiasts, pilots, and admirers for an unforgettable experience. The organization meticulously plans and arranges this vibrant festival, providing a platform where these extraordinary balloons can grace the sky, painting it with a riot of colors. The event is a celebration of aviation, teamwork, and the sheer joy of flight.
In addition to organizing the annual fiesta, Albuquerque International Balloon Fiesta Inc plays a pivotal role in fostering a sense of community and unity. The event serves as a gathering place for individuals from diverse backgrounds, drawing attention to the magic of hot air balloons and the shared human experience of marveling at their majestic ascent. The organization's dedication and passion for this unique event have made the Albuquerque International Balloon Fiesta a cherished tradition and a testament to human ingenuity and perseverance.
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Impact
October, 2024
The Albuquerque International Balloon Fiesta Inc significantly enhances the cultural and economic landscape of Albuquerque, New Mexico, through its organization and operation of the annual Albuquerque International Balloon Fiesta. This iconic event attracts thousands of visitors from around the world, showcasing stunning balloon displays and fostering community engagement.
The festival's impact includes substantial tourism revenue, benefiting local businesses such as hotels, restaurants, and shops. Additionally, the event promotes recreational activities and provides a platform for artists, vendors, and performers, enhancing the vibrant local culture. Through its outreach and educational programs, the Fiesta also cultivates a greater appreciation for ballooning as both an art and a science, inspiring future generations to get involved in this unique recreational activity. Overall, the Albuquerque International Balloon Fiesta plays a crucial role in enriching the community's economic vitality and cultural identity.
This information is meant to be a general summary of Albuquerque International Balloon Fiesta 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: $5,876
- Program Service Revenue: $13,303,143
- Gross Receipts: $20,442,395
Assets and Liabilities:
- Total Assets: $16,084,659
- Total Liabilities: $959,788
- Net Assets: $15,124,871
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENT INCOME
Revenue
$10,571,578
SPONSORS
Revenue
$2,731,565
Organization Details
Founding Year
1976
Phone
(505) 821-1000Principal Officer
Sam Parks
Main Address
4401 ALAMEDA BLVD NE, ALBUQUERQUE, NM, 87113
Website
www.balloonfiesta.comNTEE Category
Code: N520 - Recreation
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