IADA Foundation now tax deductible
The foundation of the International Aircraft Dealers Association (IADA) has received approval from the Internal Revenue Service (IRS) as a tax-exempt 501 (c) (3) public charitable organization. The announcement was made at the 2019 NBAA Business Aviation Convention and Exhibition (NBAA-BACE) in Las Vegas, Nev.
“As an organization, IADA is proud of this new designation by the IRS, which will permit us to expand our initiatives inside and outside the industry while we build a cadre of business aviation professionals for the future,” said IADA Executive Director Wayne Starling. “Our IADA dealers, brokers and products and services members are dedicated to the future of the pre-owned aircraft industry and we are all working towards increasing the transparency and integrity of transactions, and this is yet another example of that broad-based commitment.”
IADA Foundation by-laws prescribe that the organization can provide business aviation scholarships, education, learning, and leadership opportunities. The organization is able to work through other organizations, including the National Business Aviation Association (NBAA), University of Virginia Darden School of Business, and Georgia State University, in addition to funding speakers at IADA annual meetings.
In addition, IADA will be permitted to make contributions for aviation related disaster relief and aviation related philanthropic causes through the NBAA Humanitarian Emergency Response Operator Database, Angel Flight and Corporate Angel Network.
IADA’s dealer organizations and individual brokers do business in more than100 countries. They utilize www.AircraftExchange.com, an online marketplace listing only aircraft offered exclusively for sale or lease by IADA members.
IADA members participate in a program of ongoing education to remain current on best practices and new developments in acquiring and selling business aircraft, as well as abiding by a strict code of ethics, integrity and transparency. IADA represents a variety of IADA verified product and aviation services that also operate with the highest professional standards in the industry.
IADA is a professional trade association formed more than 25 years ago, promoting the growth and public understanding of the aircraft resale industry. IADA now offers the world’s only accreditation program for dealer organizations and the only certification program for individual brokers. The process delivers high standards of ethical business and transparency regarding aircraft transactions, leading to a more efficient and reliable marketplace.