Overview
What is Local 500 Building Corp?
Local 500 Building Corp, based in Gaithersburg, Maryland, serves as a property management entity for SEIU Local 500, Inc., an exempt organization under IRC Section 501(C)(5). Their primary role is to maintain a headquarters building owned by SEIU Local 500, ensuring its upkeep while collecting rents and managing related expenses. The corporation's mission aligns with supporting SEIU Local 500 and its activities by providing them with suitable workplace facilities.
Is Local 500 Building Corp legitimate?
Local 500 Building Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. Local 500 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Local 500 Building Corp?
Local 500 Building Corp's primary mission is to serve as the property custodian for SEIU Local 500, an exempt organization under IRC Section 501(C)(5). Their main duty involves owning and operating the headquarters building for SEIU Local 500. The corporation's activities include collecting rents and managing expenses associated with maintaining the property, ensuring it remains in a suitable condition for its intended use. By fulfilling this role, Local 500 Building Corp supports SEIU Local 500's operations, enabling them to focus on their core mission.
What is the revenue of Local 500 Building Corp?
Local 500 Building Corp's revenue in 2023 was $90,225.
Who are the executives of Local 500 Building Corp and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $128,861
- Other: $22,056
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Local 500 Building Corp?
Local 500 Building Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Local 500 Building Corp
Local 500 Building Corp, as a subsidiary organization, is primarily tasked with maintaining a headquarters building on behalf of SEIU Local 500, Inc., a nonprofit exempt under IRC Section 501(C)(5). The corporation's primary mission is to own and operate this building, ensuring it serves as an effective and functional workspace for SEIU Local 500. By doing so, Local 500 Building Corp collects rents and covers expenses related to the property's maintenance, upkeep, and upgrades, ensuring the building remains in good condition for its intended use. This mission is crucial in supporting the operations of SEIU Local 500, enabling them to carry out their own activities and mission effectively.
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Impact
October, 2024
Local 500 Building Corp plays a significant role in supporting and enhancing the mission of SEIU Local 500 by managing its headquarters building in Gaithersburg, MD. Through effective property management, the organization ensures that the building serves as a functional and welcoming space for members and staff, facilitating communication, collaboration, and engagement within the community.
By collecting rents and overseeing expenses, Local 500 Building Corp maintains the property, allowing SEIU Local 500 to focus on its core mission of advocacy and support for its members. This stewardship contributes to community improvement by providing a stable and effective hub for union activities, fostering a sense of connection among members, and promoting workforce development initiatives.
The organization's impact is further amplified through its dedication to the labor movement, as it helps sustain a vital resource for organizing efforts, training programs, and community outreach activities. Overall, Local 500 Building Corp enhances the operational capacity of SEIU Local 500, thereby strengthening the labor community and benefiting the larger community in the Gaithersburg area.
This information is meant to be a general summary of Local 500 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 2023.
- Gross Receipts: $349,832
Assets and Liabilities:
- Total Assets: $2,237,162
- Total Liabilities: $916,667
- Net Assets: $1,320,495
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Organization Details
Founding Year
2006
Principal Officer
Pierangeli Morrison
NTEE Category
Code: S47 - Community improvement
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