Overview
What is Laborers' Pension - Burlington Investment Corp?
Laborers' Pension - Burlington Investment Corp is a nonprofit organization situated in Burlington, Massachusetts. Their primary objective is to invest in real estate properties and generate income. This income is then channeled entirely to qualified pension, profit-sharing, or stock bonus plans that adhere to the regulations set forth by IRC Section 401(A). This organization's mission is to contribute to the financial security of its beneficiaries by managing and maximizing the returns from its real estate investments.
Is Laborers' Pension - Burlington Investment Corp legitimate?
Laborers' Pension - Burlington Investment Corp is a legitimate nonprofit organization registered as a 501(c)(25) entity. Laborers' Pension - Burlington Investment Corp 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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What is the mission statement of Laborers' Pension - Burlington Investment Corp?
The mission of Laborers' Pension - Burlington Investment Corp is centered around owning and maintaining real estate investment properties. Their primary objective is to remit the entirety of the net income generated from these properties to a qualified pension, profit-sharing, or stock bonus plan that complies with the requirements set out in IRC Section 401(A). This mission is aimed at providing financial benefits for individuals associated with these plans. The organization's role is essentially to invest in real estate and distribute the profits in accordance with the specified regulations.
Who is the CEO of Laborers' Pension - Burlington Investment Corp?
Nathan Goldstein is the President/Dir. of Laborers' Pension - Burlington Investment Corp.
What is the revenue of Laborers' Pension - Burlington Investment Corp?
Laborers' Pension - Burlington Investment Corp's revenue in 2022 was $693,321.
Who are the executives of Laborers' Pension - Burlington Investment Corp and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Laborers' Pension - Burlington Investment Corp?
Laborers' Pension - Burlington Investment Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Laborers' Pension - Burlington Investment Corp
Laborers' Pension - Burlington Investment Corp is an organization with a unique mission. Its primary objective is to own and maintain real estate investment property. The primary goal of this property ownership is not for personal gain but to generate net income. This income, in turn, is remitted in its entirety to a qualified pension, profit-sharing, or stock bonus plan that adheres to the requirements of IRC Section 401(A). In essence, the organization serves as a conduit, channeling its income to support retirement savings plans for eligible individuals. By doing so, Laborers' Pension - Burlington Investment Corp plays a role in financial security and retirement planning for those individuals.
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Impact
October, 2024
Laborers' Pension - Burlington Investment Corp significantly impacts the financial stability and benefits of pension plans by strategically owning and managing real estate investment properties. The organization focuses on maximizing the net income generated from these properties, which is then remitted entirely to qualified pension, profit-sharing, or stock bonus plans. This approach supports the long-term financial health of workers' retirement funds, ensuring that they can receive reliable payouts in accordance with IRS regulations outlined in Section 401(a).
By investing in real estate, Laborers' Pension diversifies the asset base of the pension plans, potentially enhancing returns compared to more traditional investments. This strategy not only benefits the individual participants in these pension plans but also contributes to the overall economic landscape of Burlington, MA. The management of these properties can lead to job creation and increased local investment, further embedding the organization in the community's economic framework.
This information is meant to be a general summary of Laborers' Pension - Burlington Investment Corp. 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: $25
- Program Service Revenue: $693,296
- Gross Receipts: $693,321
Assets and Liabilities:
- Total Assets: $5,847,715
- Total Liabilities: $17,611
- Net Assets: $5,830,104
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$693,296
Organization Details
Founding Year
1994
Phone
(781) 272-1000Principal Officer
Nathan Goldstein
Main Address
1400 DISTRICT AVENUE 200, BURLINGTON, MA, 018035236
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