Overview
What is L U No 43 Realty Corporation?
L U No 43 Realty Corporation is a nonprofit organization based in Clay, New York, primarily identified by its PO Box address. Its primary activity revolves around real estate, as it holds title to properties and collects rental income from them. This income is then used to cover expenses, with the remaining amount being returned to the parent organization, which enjoys tax-exempt status under IRS Section 501(C)(5).
Is L U No 43 Realty Corporation legitimate?
L U No 43 Realty Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. L U No 43 Realty 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of L U No 43 Realty Corporation?
LU No 43 Realty Corporation serves a specific role within its organizational structure. Its primary mission is to manage real estate properties, collecting income generated from these properties. The corporation then distributes the entire income, after deducting expenses, back to its exempt parent organization, which also enjoys tax-exempt status under IRS Section 501(C)(5). This arrangement allows the parent organization to utilize the income for its own charitable activities.
Who is the CEO of L U No 43 Realty Corporation?
Patrick Harrington is the President of L U No 43 Realty Corporation.
What is the revenue of L U No 43 Realty Corporation?
L U No 43 Realty Corporation's revenue in 2022 was $245,594.
Who are the executives of L U No 43 Realty Corporation and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $122,779
- Other: $78,302
- Compensation: $0
- Related: $300
- Other: $0
- Compensation: $0
- Related: $450
- Other: $0
- Compensation: $0
- Related: $109,884
- Other: $71,485
- Compensation: $0
- Related: $127,683
- Other: $78,302
Where can I find the form 990 for L U No 43 Realty Corporation?
L U No 43 Realty Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of L U No 43 Realty Corporation
L U No 43 Realty Corporation, as a realty corporation, holds the title to property and collects income derived from it. The corporation's primary mission is to manage this income effectively, ensuring that the entire revenue is passed on to its parent organization. This parent organization, also exempt under IRS Section 501(C)(5), utilizes the received income for its own charitable purposes. The role of L U No 43 Realty Corporation, therefore, is essential in supporting the parent organization's exempt activities, contributing to its overall mission and charitable efforts.
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Impact
October, 2024
L U No 43 Realty Corporation plays a pivotal role in enhancing community development and sustainability in Clay, NY. By holding title to properties and managing rental income, the corporation effectively generates revenue that supports broader initiatives. This income is returned to its parent organization, enabling the funding of various community improvement projects, services, or activities that benefit local residents.
The organization's focus on realty management contributes to the economic stability of the area, helping to provide affordable housing options and generating jobs associated with property maintenance and management. Furthermore, the commitment to returning income to the parent organization ensures that the profits are reinvested back into the community, fostering an environment of support and growth.
Overall, L U No 43 Realty Corporation is essential for creating a positive impact on the local community by facilitating property management that directly supports the welfare and improvement of the area.
This information is meant to be a general summary of L U No 43 Realty 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.
- Program Service Revenue: $245,594
- Gross Receipts: $245,594
Assets and Liabilities:
- Total Assets: $2,261,935
- Total Liabilities: $2,568,728
- Net Assets: -$306,793
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$245,594
Organization Details
Founding Year
1896
Phone
(315) 422-0435Principal Officer
Patrick Harrington
Main Address
PO BOX 110, CLAY, NY, 13041
NTEE Category
Code: S47 - Community improvement
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