Overview
What is Margaret L Wendt Foundation Holdings Inc?
Margaret L Wendt Foundation Holdings Inc is a corporation based in Buffalo, New York, primarily focused on managing and disposing of real or personal property. The profits generated from these activities are then transferred to the Margaret L. Wendt Foundation, a related nonprofit organization. This transfer of funds, in essence, serves as a means of supporting the charitable endeavors of the Margaret L. Wendt Foundation. Thomas D Lunt oversees the operations of Margaret L Wendt Foundation Holdings Inc.
Is Margaret L Wendt Foundation Holdings Inc legitimate?
Margaret L Wendt Foundation Holdings Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Margaret L Wendt Foundation Holdings 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Margaret L Wendt Foundation Holdings Inc?
Margaret L Wendt Foundation Holdings Inc's primary role is to acquire and manage various types of property. The corporation then sells, leases, or disposes of these properties, generating income. This income is subsequently transferred to the Margaret L. Wendt Foundation, a related 501(c)(3) entity, after deducting expenditures. The exact purpose of the income transferred and how it is utilized by the Margaret L. Wendt Foundation is not specified in the provided information.
Who is the CEO of Margaret L Wendt Foundation Holdings Inc?
Thomas D Lunt is the Trustee of Margaret L Wendt Foundation Holdings Inc.
What is the revenue of Margaret L Wendt Foundation Holdings Inc?
Margaret L Wendt Foundation Holdings Inc's revenue in 2022 was $3,918.
Who are the executives of Margaret L Wendt Foundation Holdings Inc and what are their salaries?
There 3 volunteers at Margaret L Wendt Foundation Holdings Inc.
Here are 3 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Margaret L Wendt Foundation Holdings Inc?
Margaret L Wendt Foundation Holdings Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Margaret L Wendt Foundation Holdings Inc
Margaret L Wendt Foundation Holdings Inc's mission is centered around acquiring and managing various types of property, including real estate and personal assets. This is achieved through a variety of means such as bequests, devises, gifts, grants, purchases, leases, or other methods. The corporation then sells, conveys, leases, or disposes of these properties, generating income in the process. This income is subsequently channeled to the Margaret L. Wendt Foundation, a related 501(c)(3) entity, after deducting any necessary expenditures. In essence, Margaret L Wendt Foundation Holdings Inc acts as a conduit, managing property and income, and distributing it to its affiliated nonprofit foundation.
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Impact
October, 2024
Margaret L Wendt Foundation Holdings Inc plays a significant role in community improvement by managing and optimizing the acquisition, disposition, and income generation of real or personal property. By effectively holding and managing assets obtained through various means such as bequests and purchases, the organization ensures that these properties serve a purpose aligned with enhancing community welfare.
The income generated from these properties is carefully remitted to the Margaret L. Wendt Foundation, which allows for the reinvestment into community-focused initiatives and projects. This structured approach allows for a sustainable means of funding various charitable activities, reinforcing the importance of asset management in supporting community-centric goals.
Furthermore, operating out of Buffalo, NY, the organization has a direct impact on the local economy by engaging in property transactions that not only increase revenue flow but also enhance the overall community infrastructure. By focusing on both income collection and the responsible disposal of property, the foundation effectively contributes to community development while fostering a culture of philanthropy and responsible asset management.
This information is meant to be a general summary of Margaret L Wendt Foundation Holdings 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.
- Gross Receipts: $3,918
Assets and Liabilities:
- Total Assets: $4,754,865
- Total Liabilities: $10,416,372
- Net Assets: -$5,661,507
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Organization Details
Founding Year
1995
Phone
(716) 855-2146Principal Officer
Thomas D Lunt
Main Address
111 GENESEE STREET 304, BUFFALO, NY, 14203
NTEE Category
Code: S47 - Community improvement
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