Overview
What is Reno Air Racing Association Inc?
Reno Air Racing Association Inc, based in Reno, Nevada, is a renowned nonprofit organization that annually attracts over 100,000 visitors worldwide. Their primary mission is to produce a thrilling air racing and air show event, celebrating the world's fastest motorsport. They are dedicated to delivering a safe, entertaining, and exhilarating experience for fans, while also recognizing military personnel and inspiring young minds. In alignment with their objectives, they offer STEM education programs for students, providing them with hands-on learning experiences about aviation. The association further honors their commitment to the community by offering free admission to local charities and schools, as well as providing funding opportunities for local service organizations. In 2022, they hosted around 6,000 students for free to learn about aviation and offered free admission to over 1,000 military members. Additionally, they awarded flight scholarships to 10 young adults to achieve their private pilot licenses. With a team of 22 dedicated individuals, Reno Air Racing Association Inc continues to make significant contributions to the community and fosters a passion for aviation among the younger generation.
Official website here: www.airrace.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 66% (Two-Star out of Four Star rating)
The Reno Air Racing Association Inc has received a 66% rating from Charity Navigator, reflecting a Two-Star designation. This rating indicates room for improvement, particularly in the area of financial health, as evidenced by a concerning liabilities to assets ratio of 112.35%. However, the organization demonstrates strong accountability practices, evidenced by perfect scores in key governance aspects like board independence and conflict of interest policies.
Strengths of the association include a high program expense ratio of 83.21%, signifying that the majority of its resources are directed toward its mission-related activities. Additionally, the charity has established robust policies for whistleblowing, document retention, and has maintained complete documentation of board meeting minutes. These elements contribute positively to its operational integrity and transparency.
Despite its strengths, the significant liabilities compared to its assets suggest financial challenges that could affect its long-term sustainability. Stakeholders may want to monitor these financial indicators closely as they consider supporting the organization. Overall, while there are strong governance features in place, the financial health raises concerns that need to be addressed for improved performance.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Reno Air Racing Association Inc?
94% of 611 reviewers on Facebook recommend the Reno Air Racing Association Inc. Here's a summary of their reviews:
Many attendees express their excitement for the unique experience of the airshow and the diverse classes of aircraft racing. Reviewers often highlight the sheer thrill and enjoyment that the event provides, emphasizing that such an opportunity is hard to find elsewhere. The vibrant atmosphere and the impressive lineup of aircraft contribute to a memorable outing for fans of aviation.
Overall, patrons have a favorable impression of the Association, appreciating the dedication to creating an engaging and dynamic event that showcases the excitement of air racing. The positive atmosphere and the quality of the show leaves many looking forward to returning for future events.
This AI summary has been generated from reviews found on Facebook.
Is Reno Air Racing Association Inc legitimate?
Reno Air Racing Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Reno Air Racing Association 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: $133,219
Professional Fundraising Fees: $0
Other Salaries and Wages: $203,941
For more financial information, click here
Official website here: www.airrace.org
What is the mission statement of Reno Air Racing Association Inc?
The Reno Air Racing Association Inc's mission is centered around producing a premier air racing event, celebrating the world's fastest motorsport. They are dedicated to delivering a safe, entertaining, and thrilling experience for spectators. Furthermore, the association places significance on honoring the military, inspiring young individuals, and boosting their community, economy, and culture. Their commitment to these endeavors is fueled by their decades of success.
Official website here: www.airrace.org
Who is the CEO of Reno Air Racing Association Inc?
Tony Logoteta is the Chief Operating Officer of Reno Air Racing Association Inc. The CEO's salary of Reno Air Racing Association Inc is $50,000 and their total compensation is $50,000.
Official website here: www.airrace.org
What is the revenue of Reno Air Racing Association Inc?
Reno Air Racing Association Inc's revenue in 2022 was $5,115,965.
Official website here: www.airrace.org
Who are the executives of Reno Air Racing Association Inc and what are their salaries?
The average compensation at Reno Air Racing Association Inc during 2022 was $15,325. There are 22 employees and 1200 volunteers at Reno Air Racing Association Inc.
Here are 12 key members and their salaries (Reno Air Racing Association Inc's CEO's salary is $50,000 and their total compensation is $50,000):
- Compensation: $70,630
- Related: $0
- Other: $12,589
- Compensation: $50,000
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Official website here: www.airrace.org
Where can I find the form 990 for Reno Air Racing Association Inc?
Reno Air Racing Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.airrace.org
Learn more at the official website: www.airrace.org
Mission Statement of Reno Air Racing Association Inc
Reno Air Racing Association Inc, a renowned organization, is dedicated to producing a remarkable air racing event. Their primary mission is to celebrate and perpetuate the world's fastest motorsport, delivering an engaging and thrilling experience to spectators. Beyond the thrill of the race, the association also honors the military, paying tribute to their service and valor. Recognizing the importance of inspiring the younger generation, Reno Air Racing Association Inc strives to motivate youth through this event. Moreover, the organization aims to strengthen the community, economy, and culture by hosting this unique event. Their commitment to safety ensures that the event remains enjoyable and secure for all participants.
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Impact
July, 2024
The Reno Air Racing Association Inc's impact is significant as it produces a unique air racing event that attracts over 100,000 attendees annually from around the world. The association's partnership with various organizations allows them to host thousands of students for educational purposes, provide free admission to military members on special days, and offer scholarships for young adults pursuing a private pilot license. In addition, the association donates over $75,000 worth of free admission to local charities and schools each year, and provides fundraising opportunities for local profit service organizations. Overall, the Reno Air Racing Association's efforts not only celebrate and perpetuate the world's fastest motorsport but also honor the military, inspire youth, and strengthen the community, economy, and culture of the Reno area.
This information is meant to be a general summary of Reno Air Racing Association 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: $450
- Program Service Revenue: $4,292,131
- Gross Receipts: $5,304,034
Assets and Liabilities:
- Total Assets: $594,544
- Total Liabilities: $909,504
- Net Assets: -$314,960
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Ticket Sales
Revenue
$3,209,188
Racing Event Revenue
Revenue
$1,045,518
Organization Details
Founding Year
1964
Phone
(775) 972-6663Principal Officer
Tony Logoteta
Main Address
14501 Mt Anderson Street, Reno, NV, 89506
Website
www.airrace.orgNTEE Category
Code: N70 - Recreation
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