Overview
What is Quile Corporation?
Quile Corporation is a nonprofit organization situated in Newark, DE. Its primary purpose is to manage property and generate income, which is subsequently distributed among its members, namely Yale University and Rockefeller University, both exempt from federal income tax under Sections 401 and 501 of the Internal Revenue Code. The Corporation acquires properties using funds provided by its members, and the income generated from these properties is allocated to them after deducting expenses. The Corporation's activities are structured to ensure that it operates exclusively for the benefit of its exempt members.
Is Quile Corporation legitimate?
Quile Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Quile Corporation 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 Quile Corporation?
The mission of Quile Corporation is primarily focused on holding property and generating income from it. This income is then distributed to its members, which are endowments and pension trusts that are exempt from federal income tax under Sections 401 and 501 of the Internal Revenue Code. The Corporation fulfills this role by purchasing property with funds provided by its members, and the proceeds from this property are assigned to them in return. The primary objective of Quile Corporation is to serve as a vehicle for its tax-exempt members to invest in property and subsequently benefit from the income generated.
Who is the CEO of Quile Corporation?
Daniel T Sang is the President of Quile Corporation.
What is the revenue of Quile Corporation?
Quile Corporation's revenue in 2022 was $1,443,941.
Who are the executives of Quile Corporation 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 Quile Corporation?
Quile Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Quile Corporation
Quile Corporation, as a nonprofit entity, is primarily established with the objective of managing property and generating income from it. This income is then distributed to its members, which are exempt from federal income tax under Sections 401 and 501 of the Internal Revenue Code. These members include Endowments and Pension Trusts, who contribute funds towards the purchase of the property. In return, they receive a portion of the income generated by Quile Corporation, which is derived from the revenue generated by the managed property. The Corporation's mission is to serve as a financial intermediary, facilitating the flow of income between the property and its members, while ensuring compliance with the tax-exempt status of its members under Section 501(a) and 501(c)(3) of the Internal Revenue Code.
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Impact
October, 2024
Quile Corporation plays a crucial role in managing and optimizing property assets for its members, which include prestigious institutions like Yale University and Rockefeller University. By acquiring and holding title to property, Quile Corporation generates income that directly benefits its members. This structured approach ensures that the financial resources provided by its members for property acquisition are efficiently utilized, leading to a steady stream of revenue.
The funds collected from these properties are remitted to the members after deducting operational expenses, facilitating sustained financial support for their respective missions. This not only bolsters the financial health of these educational and research institutions but also fosters community improvement through strategic asset management and investment in real estate. Quile Corporation's activities contribute to a robust framework that allows its members to focus on their core objectives while ensuring responsible stewardship of their financial contributions.
This information is meant to be a general summary of Quile Corporation. 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.
- Gross Receipts: $1,443,941
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
1960
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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