Overview
What is Guybeano Realty Company Inc?
Guybeano Realty Company Inc serves as a nonprofit entity, primarily dedicated to managing and overseeing property assets. The company's primary function is to acquire properties and generate income from them. This income is then distributed to its sole shareholder, a Commingled Pension Trust Fund, which is exempt from taxation under specific IRS sections. This trust fund is responsible for providing the funds necessary for purchasing the properties. In essence, Guybeano Realty Company Inc acts as a property holding entity, channeling income to its exempt shareholder.
Is Guybeano Realty Company Inc legitimate?
Guybeano Realty Company Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Guybeano 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.
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 Guybeano Realty Company Inc?
Guybeano Realty Company Inc is established with the primary purpose of managing property and generating income. The corporation holds the title to the properties and the income derived from these properties is allocated to its shareholders, specifically Pension Trusts, as remuneration for their investment in purchasing the properties. These Pension Trusts are exempt from federal income tax under Sections 401 and 501 of the Internal Revenue Code of 1954. The corporation's role is essentially to act as a facilitator, managing property and distributing the income to its shareholders, who are tax-exempt Pension Trusts.
Who is the CEO of Guybeano Realty Company Inc?
Mihir Patel is the President of Guybeano Realty Company Inc.
What is the revenue of Guybeano Realty Company Inc?
Guybeano Realty Company Inc's revenue in 2021 was $0.
Who are the executives of Guybeano 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 Guybeano Realty Company Inc?
Guybeano Realty Company Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Guybeano Realty Company Inc
Guybeano Realty Company Inc, as per its mission, is primarily established with the sole purpose of managing real estate properties. The corporation's primary role is to hold title to these properties and generate income from them. This income is then allocated to its sole shareholder, a Pension Trust Fund named Commingled Pension Trust Fund. This fund, exempt from federal income tax under Sections 401 and 501 of the Internal Revenue Code, receives the income less the expenses incurred by the corporation during its operations. The corporation's activities are driven by its commitment to fulfilling this mission, contributing to the financial wellbeing of the Commingled Pension Trust Fund.
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Impact
October, 2024
Guybeano Realty Company Inc has made a significant impact through its role in property management and income distribution. By holding title to real estate and collecting income generated from these properties, the organization enabled a streamlined process for returning funds to its sole shareholder, the Commingled Pension Trust Fund of JPMorgan Chase Bank. This structure allowed for effective management of assets, ultimately aiding pension trusts that benefit from tax exemptions under federal law.
The company’s operations were centered around facilitating property investment for its investors, specifically pension trusts, fostering financial stability for these entities. Although Guybeano Realty Company is no longer active, its mission reflected a focus on supporting community improvement through strategic investment decisions that aligned with the financial objectives of its shareholders.
In addition to enhancing financial returns for pension funds, the company contributed to the broader community by ensuring that the properties it managed were well-maintained and productive, thereby supporting local economic growth. Through its real estate activities, Guybeano Realty Company Inc indirectly played a role in promoting sustainable community development, even as the organization has ceased operations.
This information is meant to be a general summary of Guybeano 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 2021.
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Service Revenue
Organization Details
Founding Year
1983
Phone
(302) 634-1114Principal Officer
Mihir Patel
Main Address
500 Stanton Christiana Road NCC2-2, Newark, DE, 19713
NTEE Category
Code: S47 - Community improvement
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