Overview
What is Oracle Building Corporation?
Oracle Building Corporation is a company that previously owned a commercial building, serving as the sole tenant to Oracle Charter School. Located at 1231 Delaware Avenue 6, Buffalo, NY 14209, the corporation sold the property in October 2019. The school's charter was not renewed in 2018, resulting in the termination of its education program by the end of the 2017-2018 academic year. Despite being involved with a charter school, Oracle Building Corporation is not classified as a nonprofit organization.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54%, One-Star out of Four Stars
Oracle Building Corporation has received a low rating of 54%, indicating significant concerns regarding its accountability and financial practices. While the organization boasts a 100% independent board with 10 out of 10 points, and maintains robust policies on conflict of interest, whistleblower protections, and document retention, it has not effectively translated these strengths into financial performance.
The organization has a concerning Program Expense Ratio of 0.00%, which suggests that none of its expenses are directed towards its stated programs. This is a critical indicator that raises questions about the efficacy and impact of the nonprofit's activities. Additionally, the Liabilities to Assets Ratio of 18.93% reflects potential financial instability, as a healthy organization typically would have a lower ratio indicating less debt relative to assets.
Overall, while Oracle Building Corporation demonstrates strong governance practices, its financial management and program spending are significant areas of concern that could hinder its long-term viability and mission effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Oracle Building Corporation legitimate?
Oracle Building Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oracle Building 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 Oracle Building Corporation?
Oracle Building Corporation's primary role was the ownership of a commercial building, serving as the sole tenant to Oracle Charter School. The school's charter was not renewed in February 2018, leading to the cessation of the educational program and its termination at the end of the 2017-2018 school year. The building was subsequently sold in October 2019. While Oracle Building Corporation's mission statement wasn't explicitly provided, it can be inferred that their objective was to manage and monetize the commercial property. After the school's closure, their focus shifted to selling the property.
Who is the CEO of Oracle Building Corporation?
Ramone Alexander is the President of Oracle Building Corporation.
What is the revenue of Oracle Building Corporation?
Oracle Building Corporation's revenue in 2022 was $8,750.
Who are the executives of Oracle Building Corporation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Oracle Building Corporation?
Oracle Building Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Oracle Building Corporation
Oracle Building Corporation's mission, in essence, revolved around the ownership of a commercial building. This building served as the sole home to Oracle Charter School, a charter educational institution. However, in February 2018, the School's Authorizer made a decision to deny the School's application for a charter renewal, effectively bringing an end to the School's educational program by the close of the 2017-2018 school year. After this transition, Oracle Building Corporation sold the property in October 2019. In simpler terms, Oracle Building Corporation managed a commercial building that housed Oracle Charter School, but following the School's charter renewal denial and eventual closure, the Corporation chose to sell the property.
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Impact
October, 2024
Oracle Building Corporation had a significant impact on the educational landscape in Buffalo, NY, through its ownership of a commercial building that served as the home for Oracle Charter School. This facility provided a dedicated space for educational activities and community engagement until the school's charter renewal was denied in February 2018. As a result of the termination of the school’s operations at the end of the 2017-2018 fiscal year, the building's role in supporting education ceased.
The sale of the building in October 2019 marked the end of an era for the school and its community. While the property served its purpose in fostering education for several years, the loss of Oracle Charter School left a gap in the educational offerings available to students in the area. The transition created opportunities for new initiatives or developments in the commercial real estate space, but it also underscored the challenges faced by charter schools in maintaining their operations and the critical role that dedicated facilities play in delivering educational services.
This information is meant to be a general summary of Oracle Building 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.
- Investment Income: $8,750
- Gross Receipts: $8,750
Assets and Liabilities:
- Total Assets: $927,722
- Total Liabilities: $150
- Net Assets: $927,572
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Organization Details
Founding Year
2004
Phone
(716) 362-3188Principal Officer
Ramone Alexander
Main Address
1231 Delaware Avenue 6, Buffalo, NY, 14209
NTEE Category
Code: B112 - Education
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