Overview
What is Parstem Realty Company Inc?
Parstem Realty Company Inc is a corporation primarily focused on property investment. It holds title to various real estate properties, generating income from them. This income is then channeled to its sole shareholder, a Commingled Pension Trust Fund, after deducting expenses. The stockholders of this corporation are pension trusts, which are exempt from federal income tax under Sections 401 and 501 of the Internal Revenue Code. In essence, Parstem Realty Company Inc acts as a facilitator, using its resources to generate income for its pension trust shareholders.
Is Parstem Realty Company Inc legitimate?
Parstem Realty Company Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Parstem Realty Company 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.
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What is the mission statement of Parstem Realty Company Inc?
Parstem Realty Company Inc's primary mission is to serve as a property holding entity. The corporation acquires properties and generates income from them. This income is then distributed to its sole shareholder, a Pension Trust Fund, after deducting expenses. The Pension Trust Fund, which is exempt from federal income tax under Sections 401 and 501 of the Internal Revenue Code, provides the funds for the purchase of these properties. The corporation's role is essentially to facilitate this financial transaction, with the income generated being the main output.
Who is the CEO of Parstem Realty Company Inc?
Daniel T Sang is the President of Parstem Realty Company Inc.
What is the revenue of Parstem Realty Company Inc?
Parstem Realty Company Inc's revenue in 2022 was $1,342,501.
Who are the executives of Parstem Realty Company Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Parstem Realty Company Inc?
Parstem Realty Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Parstem Realty Company Inc
Parstem Realty Company Inc, as per its mission, is primarily established to serve as a property holding entity. The corporation's primary function is to acquire property, generate income from it, and subsequently, remit the income to its sole shareholder, the Commingled Pension Trust Fund. This Fund, which is exempt from federal income tax under Section 501(a) of the Internal Revenue Code of 1986, is the recipient of the income generated from Parstem Realty Company Inc's property investments.
In simpler terms, Parstem Realty Company Inc functions as a conduit for property-related income. The corporation acquires properties using funds provided by the Pension Trusts, which are also exempt from federal income tax under Sections 401 and 501 of the Internal Revenue Code of 1954. After acquiring the properties, Parstem Realty Company Inc generates income from them. This income is then transferred to the Commingled Pension Trust Fund, which is the sole shareholder of the corporation. This business model allows the corporation to operate tax-free, as both the corporation and its shareholder are exempt from federal income tax.
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Impact
October, 2024
Parstem Realty Company Inc has a significant impact in managing and maximizing the income from real estate assets for its stakeholders. By holding title to various properties, the Corporation effectively ensures that these assets generate revenue, which is then distributed to its sole shareholder, the Commingled Pension Trust Fund. This operational model not only supports the financial health of the Pension Trusts involved but also contributes to the overall stability of the local real estate market.
The Corporation's focus on collecting income from property allows it to funnel resources back to its stakeholders, fostering community improvement through investment in real estate. The financial returns received by the Pension Trusts can ultimately enhance the retirement security of countless individuals, reflecting a commitment to long-term community and economic well-being.
Operating from Newark, Delaware, Parstem Realty Company exemplifies a structured approach to asset management that prioritizes financial returns while upholding responsible property management. The impact it has on both the local economy and the broad spectrum of pension beneficiaries highlights its role as a vital player in the intersection of real estate and community enhancement.
This information is meant to be a general summary of Parstem Realty Company 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.
- Program Service Revenue: $1,342,501
- Gross Receipts: $1,342,501
Assets and Liabilities:
- Total Assets: $2,475,200
- Total Liabilities: $0
- Net Assets: $2,475,200
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Service Revenue
Revenue
$1,342,501
Organization Details
Founding Year
1967
Phone
(302) 634-1114Principal Officer
Daniel T Sang
Main Address
500 Stanton Christiana RD NCC 1-3, Newark, DE, 19713
NTEE Category
Code: S47 - Community improvement
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