Overview
What is Great Reno Balloon Race Inc?
Great Reno Balloon Race Inc is a distinguished nonprofit organization based in Reno, Nevada. Established in 1982, its primary objective is to boost tourism in the area by organizing a three-day hot-air balloon event. This event, recognized as the nation's largest free hot-air balloon race, attracts an average of 150,000 people each year during the September period. The mission of this nonprofit is to deliver a family-friendly, captivating, and cost-free experience that showcases the thrill of flight, making it a cherished event for the community. Great Reno Balloon Race Inc strives to ensure the event's safety and success while remaining accessible to the public.
Official website here: www.renoballoon.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Great Reno Balloon Race Inc has received an 81% rating from Charity Navigator, which reflects a strong focus on accountability and finance. The charity's score is derived entirely from its accountability and finance metrics, indicating a commitment to financial transparency and operational integrity. With an independent board comprising 100% independent members and a low material diversion of assets, the organization showcases solid governance practices.
The financial health of the organization is notable, with a very low liabilities to assets ratio of 2.24% and a program expense ratio of 76.34%. This suggests that a significant portion of their expenditures is directed towards their core mission rather than administrative costs. Additionally, the presence of comprehensive policies, such as conflict of interest and whistleblower protections, further enhances their accountability framework.
While the charity demonstrates strength in these areas, it is essential for potential supporters to remain informed about ongoing operations and program impacts. Overall, the Great Reno Balloon Race Inc appears to be a well-managed organization with a strong emphasis on transparency and financial responsibility.
This AI summary has been generated from information found on Charity Navigator.
Is Great Reno Balloon Race Inc legitimate?
Great Reno Balloon Race Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Great Reno Balloon Race 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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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.renoballoon.com
What is the mission statement of Great Reno Balloon Race Inc?
The mission of the Great Reno Balloon Race Inc is to organize a three-day annual event aimed at boosting tourism, featuring hot-air balloon racing. The primary objective of this event is to provide an enjoyable, family-friendly, and cost-free spectacle that showcases the thrill of flight. The Great Reno Balloon Race (GRBR) strives to be a premier event, drawing in a substantial crowd of about 150,000 people during the September days of its celebration. The event's goal is to contribute positively to the community, offering a safe, welcoming, and enduring tradition as a gift to the public.
Official website here: www.renoballoon.com
Who is the CEO of Great Reno Balloon Race Inc?
Mike Klaich is the Executive Director of Great Reno Balloon Race Inc.
Official website here: www.renoballoon.com
What is the revenue of Great Reno Balloon Race Inc?
Great Reno Balloon Race Inc's revenue in 2022 was $583,711.
Official website here: www.renoballoon.com
Who are the executives of Great Reno Balloon Race Inc and what are their salaries?
There 150 volunteers at Great Reno Balloon Race Inc.
Here are 13 key members and their salaries:
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Official website here: www.renoballoon.com
Where can I find the form 990 for Great Reno Balloon Race Inc?
Great Reno Balloon Race Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.renoballoon.com
Learn more at the official website: www.renoballoon.com
Mission Statement of Great Reno Balloon Race Inc
The Great Reno Balloon Race Inc, a distinguished organization, is dedicated to fostering tourism in Reno through an annual three-day balloon race event. Their primary mission is to deliver a top-notch, secure, and alluring spectacle that highlights the thrill of flight, making it an enjoyable experience for families and visitors alike, without charging any admission fees. This event, which has grown to become the largest free hot-air balloon gathering in the nation, attracts an average audience of 150,000 people over the course of three September days. The Great Reno Balloon Race Inc's vision, initiated in 1982, was to offer an enduring gift to the community, ensuring it remains a safe, friendly, and free event for all to enjoy.
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Impact
July, 2024
The Great Reno Balloon Race Inc's impact is significant in promoting tourism in Reno by hosting a three-day balloon race event. The organization, through the Great Reno Balloon Race, has become the nation's largest free hot-air balloon event, attracting an average of 150,000 attendees over three days in September. This event not only celebrates the joy of flight but also contributes to the city's economy by drawing in tourists and fostering a sense of community improvement.
This information is meant to be a general summary of Great Reno Balloon Race 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: $255,017
- Gross Receipts: $630,690
Assets and Liabilities:
- Total Assets: $164,276
- Total Liabilities: $5,000
- Net Assets: $159,276
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Balloon Race Revenue
Revenue
$255,017
Organization Details
Founding Year
1982
Phone
(775) 826-1181Principal Officer
Mike Klaich
Main Address
PO Box 12695, Reno, NV, 89510
Website
www.renoballoon.comNTEE Category
Code: S80 - Community improvement
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