Overview
What is Painting Industry Fund Building Corp?
Painting Industry Fund Building Corp is a nonprofit organization situated in New York City, specifically at 45 West 14th Street. Its primary function involves managing property on behalf of its tax-exempt parent organization. This corporation holds title to property, generates income from it, and then transfers the net earnings, after accounting for expenses, to its parent organization. The organization's primary activity is centered around property management, ensuring the smooth operation of its property portfolio in support of its tax-exempt parent organization.
Is Painting Industry Fund Building Corp legitimate?
Painting Industry Fund Building Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. Painting Industry Fund Building 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.
Heare are some key statistics you may want to consider:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Painting Industry Fund Building Corp?
The Painting Industry Fund Building Corp is authorized to manage property on behalf of its tax-exempt parent organization. Its primary role involves holding title to the property, generating income from it, and subsequently transferring the net income, after deducting expenses, to its parent organization. This parent organization, being tax-exempt, utilizes the funds for its respective purposes. The corporation's mission, therefore, is to serve as a property management entity, supporting its tax-exempt parent organization by managing its property assets and income.
Who is the CEO of Painting Industry Fund Building Corp?
Joseph Azzopardi is the Employer Trustee of Painting Industry Fund Building Corp.
What is the revenue of Painting Industry Fund Building Corp?
Painting Industry Fund Building Corp's revenue in 2022 was $1,276,089.
Who are the executives of Painting Industry Fund Building Corp and what are their salaries?
Here are 29 key members and their salaries:
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- Related: $185,626
- Other: $118,009
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- Related: $188,142
- Other: $129,176
Where can I find the form 990 for Painting Industry Fund Building Corp?
Painting Industry Fund Building Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Painting Industry Fund Building Corp
Painting Industry Fund Building Corp, as a corporation, is authorized to hold title to property on behalf of its tax-exempt parent organization. Its primary role is to collect income derived from these properties and subsequently transfer the entire amount, after deducting expenses, to its tax-exempt parent organization. This arrangement allows the parent organization to benefit from the revenue generated by the properties, while maintaining its tax-exempt status. The corporation's mission is essentially to serve as a property custodian, ensuring the financial well-being of its tax-exempt parent organization.
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Impact
October, 2024
Painting Industry Fund Building Corp plays a crucial role in the financial and operational support of its tax-exempt parent organization. By holding title to property and managing associated income, the corporation ensures a steady flow of resources that can be utilized for various initiatives within the parent organization. This structure not only enhances the financial stability of the parent organization but also allows it to focus on its core mission without the burden of property management. The corporation's ability to efficiently collect income and minimize expenses contributes to a more effective use of resources, ultimately benefiting the community and stakeholders served by the parent organization. This strategic function underscores the importance of asset management in sustaining and advancing the mission of the organization.
This information is meant to be a general summary of Painting Industry Fund Building 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: $224
- Program Service Revenue: $1,275,865
- Gross Receipts: $1,276,089
Assets and Liabilities:
- Total Assets: $3,579,312
- Total Liabilities: $326,591
- Net Assets: $3,252,721
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,275,865
Organization Details
Founding Year
1999
Phone
(212) 255-2950Principal Officer
Joseph Azzopardi
Main Address
45 WEST 14TH STREET, NEW YORK, NY, 10011
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