Overview
What is Seven Lebanon Street Inc?
Seven Lebanon Street Inc is a corporation established for a specific purpose: to acquire, own, and manage a property located at 7 Lebanon Street in Hanover, New Hampshire. The primary function of this organization is to generate income from this property, which is then remitted to the Trustees of Dartmouth College, serving as its sole member. The corporation's activities are limited to the acquisition, management, and leasing of real estate, with the intention of using any mortgage, note, contract, or obligation necessary to accomplish its objectives. Essentially, Seven Lebanon Street Inc acts as a landlord for the Trustees of Dartmouth College, generating income from the rented property.
Is Seven Lebanon Street Inc legitimate?
Seven Lebanon Street Inc is a legitimate nonprofit organization registered as a 501(c)(25) entity. Seven Lebanon Street 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Seven Lebanon Street Inc?
Seven Lebanon Street Inc's primary mission is centered around real estate management. The corporation is established to acquire and hold title to property, specifically focusing on a particular location. Its primary objective is to generate rental income from this property. The income earned is then distributed to a specific group of shareholders, all of whom must be recognized as organizations under Section 501(c)(25)(c) of the tax code. Furthermore, Seven Lebanon Street Inc is authorized to incur acquisition indebtedness, using the property as collateral. Additionally, the corporation can execute necessary contracts and obligations to carry out these operations.
Who is the CEO of Seven Lebanon Street Inc?
Unavailable
What is the revenue of Seven Lebanon Street Inc?
Seven Lebanon Street Inc's revenue in 2022 was $1,667,164.
Who are the executives of Seven Lebanon Street Inc and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $182,491
- Other: $15,898
- Compensation: $0
- Related: $272,837
- Other: $30,042
- Compensation: $0
- Related: $383,816
- Other: $23,983
- Compensation: $0
- Related: $44,919
- Other: $22,953
- Compensation: $0
- Related: $1,760,273
- Other: $44,449
- Compensation: $0
- Related: $376,340
- Other: $38,666
- Compensation: $0
- Related: $250,010
- Other: $30,385
Where can I find the form 990 for Seven Lebanon Street Inc?
Seven Lebanon Street Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Seven Lebanon Street Inc
Seven Lebanon Street Inc, as a corporation, is dedicated to a specific mission. Its primary objective is to maintain ownership of a property situated at 7 Lebanon Street, Hanover, NH. The corporation's primary source of income stems from the rental of this property. This income is then meticulously distributed to the Trustees of Dartmouth College, serving as its sole member. In addition, Seven Lebanon Street Inc is authorized to incur acquisition debt, utilizing the property as collateral. This enables the corporation to secure necessary mortgage, note, contract, or obligations essential for its operations. Overall, Seven Lebanon Street Inc's mission revolves around managing and leasing real property for the purpose of generating income, which is then redistributed to its shareholders, adhering to the guidelines set forth in Section 501(c)(25)(c) of the code.
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Impact
October, 2024
Seven Lebanon Street Inc plays a pivotal role in supporting the community and the educational mission of Dartmouth College by managing and leasing a property in Hanover, NH. By holding title to and generating rental income from the property at 7 Lebanon Street, the organization serves as a financial conduit to funnel resources directly to the Trustees of Dartmouth College. This income not only contributes to the college's operations but also supports initiatives that enhance the educational experience and community engagement.
In addition to its financial contributions, the presence of Seven Lebanon Street Inc promotes community improvement through the effective management of real property in the area, ensuring that the space is utilized in ways that benefit the surrounding community and align with broader institutional goals. Through prudent property management and strategic leasing, the organization fosters a vibrant environment that can serve various community interests and needs, reinforcing a commitment to local development. Overall, Seven Lebanon Street Inc significantly impacts Hanover by facilitating economic support for Dartmouth College while enhancing local real estate vibrancy.
This information is meant to be a general summary of Seven Lebanon Street 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: $740
- Program Service Revenue: $1,542,579
- Gross Receipts: $1,903,441
Assets and Liabilities:
- Total Assets: $7,725,941
- Total Liabilities: $8,940,134
- Net Assets: -$1,214,193
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental income from related organizations
Revenue
$1,542,579
Organization Details
Founding Year
1999
Phone
(603) 646-3011Main Address
7 Lebanon Street 302, Hanover, NH, 03755
NTEE Category
Code: S47 - Community improvement
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