Overview
What is Reef Plaza Del Lago Inc?
Reef Plaza Del Lago Inc is a title-holding company, established in Seattle, Washington, with a primary focus on real estate investment. The organization's primary objective is to acquire, own, improve, lease, manage, operate, and hold real estate properties for financial gains. Possessing a unique structure, Reef Plaza Del Lago Inc remits the net income derived from these real estate activities to a qualified 501(a) parent entity, which is exempt from federal income tax. In essence, Reef Plaza Del Lago Inc serves as a real estate investment vehicle, dedicated to generating returns through property management and leasing.
Is Reef Plaza Del Lago Inc legitimate?
Reef Plaza Del Lago Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Reef Plaza Del Lago 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
What is the mission statement of Reef Plaza Del Lago Inc?
Reef Plaza Del Lago Inc is organized as a title-holding company, with a limited purpose of acquiring, owning, improving, leasing, managing, operating, and holding real estate for investment purposes. The entity's primary function is to generate income from these real estate holdings and remit the net amounts to a qualifying 501(a) parent, which is exempt from federal income tax under Internal Revenue Code section 501(a). In simpler terms, Reef Plaza Del Lago Inc is a company that invests in real estate and passes on the income, after expenses, to a tax-exempt entity.
Who is the CEO of Reef Plaza Del Lago Inc?
Cory Carlson is the Principal Officer of Reef Plaza Del Lago Inc. The CEO's salary of Reef Plaza Del Lago Inc is $0 and their total compensation is $0.
What is the revenue of Reef Plaza Del Lago Inc?
Reef Plaza Del Lago Inc's revenue in 2022 was $3,373,892.
Who are the executives of Reef Plaza Del Lago Inc and what are their salaries?
There 6 volunteers at Reef Plaza Del Lago Inc.
Here are 6 key members and their salaries (Reef Plaza Del Lago Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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 Reef Plaza Del Lago Inc?
Reef Plaza Del Lago Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Reef Plaza Del Lago Inc
Reef Plaza Del Lago Inc is structured as a title-holding company, with a singular focus. Its purpose is to acquire, own, improve, lease, manage, operate, and maintain real estate for investment purposes. This organization operates with the intent of remitting the net income derived from these activities to a qualified 501(a) parent. In simpler terms, Reef Plaza Del Lago Inc is an entity that primarily invests in real estate, aiming to generate revenue, which is then passed on to its affiliated tax-exempt parent organization.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Reef Plaza Del Lago Inc significantly impacts its community through strategic real estate activities aimed at enhancing local infrastructure and providing financial support to its parent organization, a qualified pension plan. By acquiring, owning, and managing real estate, the organization not only contributes to the physical landscape of Seattle but also ensures that generated income benefits a larger community-focused initiative.
Through the meticulous management and improvement of its properties, Reef Plaza Del Lago supports community revitalization, potentially increasing property values and attracting further investment into the area. Its focus on real estate as a vehicle for economic growth aligns with broader goals of community development, ultimately fostering a more robust local economy.
Additionally, by remitting net financial gains to its parent organization, it ensures that the resources are directed towards retirement benefits, which can positively impact the financial well-being of community members associated with that pension plan. This interconnectedness highlights Reef Plaza Del Lago's role in supporting both community improvement and the financial security of individuals, creating a ripple effect of positive outcomes for the Seattle area.
This information is meant to be a general summary of Reef Plaza Del Lago 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.
- Program Service Revenue: $3,373,892
- Gross Receipts: $3,373,892
Assets and Liabilities:
- Total Assets: $38,070,007
- Total Liabilities: $414,414
- Net Assets: $37,655,593
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMERCIAL RENT
Revenue
$3,373,892
Organization Details
Founding Year
2005
Phone
(206) 382-0825Principal Officer
Cory Carlson
Main Address
1200 SIXTH AVE 700, SEATTLE, WA, 98101
NTEE Category
Code: S47 - Community improvement
If you are a representative of Reef Plaza Del Lago Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.