Overview
What is Vh Properties Inc?
Vh Properties Inc is a nonprofit organization primarily based in Jamaica, New York. Its primary role is to manage a property at 150-10 and 150-14 Hillside Avenue, leasing it to its sole tenant, Venture House Inc, a New York-based not-for-profit organization. The income generated from this rental arrangement is the organization's main source of financial support. Vh Properties Inc does not retain any excess income, instead, it transfers the remaining funds to Venture House Inc, which is exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code. The organization's mission is solely focused on property management and income collection.
Is Vh Properties Inc legitimate?
Vh Properties Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Vh Properties 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:
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Other Salaries and Wages: $0
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What is the mission statement of Vh Properties Inc?
Vh Properties Inc's primary role is to manage a specific property, identified as 150-10 and 150-14 Hillside avenue, located in an unspecified location. Their main responsibility is to collect rental income from their sole tenant, Venture House Inc., a New York-based not-for-profit organization. The excess income, after deducting expenses, is then transferred to Venture House Inc., a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. Essentially, Vh Properties Inc serves as a property manager, generating income from its tenant and distributing the surplus funds to support the charitable activities of Venture House Inc.
Who is the CEO of Vh Properties Inc?
Gary Curwin is the Treasurer of Vh Properties Inc.
What is the revenue of Vh Properties Inc?
Vh Properties Inc's revenue in 2021 was $50,000.
Who are the executives of Vh Properties Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Vh Properties Inc?
Vh Properties Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Vh Properties Inc
Vh Properties Inc, as per its mission, is primarily dedicated to maintaining ownership of a specific property located in Jamaica, New York. This property, identified as 150-10 and 150-14 Hillside avenue, is rented out to Venture House, Inc., a not-for-profit corporation based in New York. Vh Properties Inc's role is to collect rental income from this tenant, and any excess income, after deducting expenses, is then transferred to Venture House, Inc., which is exempt under Section 501(c)(3) of the Internal Revenue Code. In essence, Vh Properties Inc serves as a property holder and income generator for Venture House, Inc., contributing to its financial support.
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Impact
October, 2024
Vh Properties Inc plays a significant role in supporting community improvement initiatives in Jamaica, New York, through its property management and financial operations. By holding title to the properties at 150-10 and 150-14 Hillside Avenue, Vh Properties Inc facilitates a stable rental income stream that directly benefits its sole tenant, Venture House, Inc. This arrangement not only ensures the maintenance and utilization of the properties but also supports the broader mission of Venture House, which focuses on providing essential services to the community.
The organization's model emphasizes financial efficiency by transferring excess income to Venture House, allowing it to reinvest resources into its programs and initiatives. This financial support contributes to community welfare and development, enabling Venture House to enhance its offerings without the burden of property ownership issues. Ultimately, Vh Properties Inc serves as a crucial partnership that enhances the capacity of Venture House to fulfill its mission, thereby positively impacting the overall community in Jamaica, NY.
This information is meant to be a general summary of Vh Properties 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 2021.
- Program Service Revenue: $50,000
- Gross Receipts: $50,000
Assets and Liabilities:
- Total Assets: $889,166
- Total Liabilities: $447,908
- Net Assets: $441,258
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income
Revenue
$50,000
Organization Details
Founding Year
1996
Principal Officer
Gary Curwin
Main Address
150-10 HILLSIDE AVENUE, Jamaica, NY, 11432
NTEE Category
Code: S47 - Community improvement
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