Overview
What is Faith Legacy Properties Inc?
Faith Legacy Properties Inc is a nonprofit organization, based in Lafayette, Indiana, with the primary mission of managing property and generating income. The organization's primary role is to hold property titles, collect income from these properties, and then transfer the net income, after deducting expenses, to Faith Baptist Church of Lafayette, Inc., a tax-exempt organization under Section 501 of the Internal Revenue Code. The purpose of this arrangement is to support the church's operations, without specifying the nature of these operations in the provided information.
Official website here: www.faithchurch.org/church
Is Faith Legacy Properties Inc legitimate?
Faith Legacy Properties Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Faith Legacy Properties 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
For more financial information, click here
Official website here: www.faithchurch.org/church
What is the mission statement of Faith Legacy Properties Inc?
Faith Legacy Properties Inc is established with a specific purpose. Its primary objective is to hold property titles and generate income from these properties. After covering operational expenses, the organization transfers the remaining funds to Faith Baptist Church of Lafayette, Inc., a non-profit organization under Section 501 of the Internal Revenue Code. Essentially, Faith Legacy Properties Inc serves as a financial intermediary, channeling funds to the church.
Official website here: www.faithchurch.org/church
Who is the CEO of Faith Legacy Properties Inc?
Matthew Westhius is the Cfo of Faith Legacy Properties Inc.
Official website here: www.faithchurch.org/church
What is the revenue of Faith Legacy Properties Inc?
Faith Legacy Properties Inc's revenue in 2023 was $273,407.
Official website here: www.faithchurch.org/church
Who are the executives of Faith Legacy Properties Inc and what are their salaries?
There 4 volunteers at Faith Legacy Properties Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $102,985
- Other: $31,108
- Compensation: $0
- Related: $49,917
- Other: $70,454
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.faithchurch.org/church
Where can I find the form 990 for Faith Legacy Properties Inc?
Faith Legacy Properties Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.faithchurch.org/church
Learn more at the official website: www.faithchurch.org/church
Mission Statement of Faith Legacy Properties Inc
Faith Legacy Properties Inc, as an organization, is established with a singular focus. Its primary objective is to hold title to property and generate income from it. This income, after deducting expenses, is then transferred in its entirety to Faith Baptist Church of Lafayette, Inc., a nonprofit organization under Section 501 of the Internal Revenue Code. Essentially, Faith Legacy Properties Inc serves as a financial intermediary, channeling income derived from its property holdings to another nonprofit organization.
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Impact
October, 2024
Faith Legacy Properties Inc has a significant impact on the community by efficiently managing real estate assets and generating income that directly supports the Faith Baptist Church of Lafayette, Inc. By holding title to property and ensuring that income is collected and redistributed after expenses, the organization enhances the financial stability of the church. This funding can be crucial for various church activities, community outreach programs, and improvements that benefit local residents. The organization's focus on property management exemplifies a commitment to community improvement, fostering a stronger sense of unity and support within the Lafayette area. Ultimately, Faith Legacy Properties Inc plays a vital role in sustaining the mission of the church and contributes to the overall well-being of the community through its financial stewardship.
This information is meant to be a general summary of Faith Legacy Properties 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 2023.
- Program Service Revenue: $52,437
- Gross Receipts: $273,407
Assets and Liabilities:
- Total Assets: $2,452,735
- Total Liabilities: $76,863
- Net Assets: $2,375,872
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FBC LEASE
Revenue
$29,240
GRAY HOUSE RENTAL
Revenue
$10,620
FBS LEASE
Revenue
$8,950
BETHANY FARMS RENTAL
Revenue
$3,627
Organization Details
Founding Year
2005
Phone
(765) 448-1986Principal Officer
Matthew Westhius
Main Address
5526 ST RD 26 EAST, LAFAYETTE, IN, 47905
Website
www.faithchurch.org/churchNTEE Category
Code: S47 - Community improvement
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