Overview
What is Reef Imperial Rose Inc?
Reef Imperial Rose Inc, headquartered in Seattle, Washington, is primarily a title-holding company with a narrow focus. The organization's primary function is to acquire, manage, and hold real estate properties for investment purposes. Specifically, they focus on Imperial Rose Plaza located in Placentia, California. The company's operations involve leasing, managing, and improving the property, with the net income generated being remitted to a tax-exempt parent organization. While Reef Imperial Rose Inc is not directly involved in providing social services or support, its role in real estate investment contributes to the overall economic landscape.
Is Reef Imperial Rose Inc legitimate?
Reef Imperial Rose Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Reef Imperial Rose 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 Reef Imperial Rose Inc?
Reef Imperial Rose Inc is established as a title-holding company, primarily focused on acquiring, owning, improving, leasing, managing, operating, and holding real estate for investment purposes. The company's primary objective is to generate income from this real estate and subsequently remit the net income, after deducting expenses, to a specific exempt entity. This entity, a qualified pension plan under the Internal Revenue Code, is its sole beneficiary. In essence, Reef Imperial Rose Inc serves as a vehicle for real estate investment and income generation, with the proceeds channeled to a tax-exempt pension plan.
Who is the CEO of Reef Imperial Rose Inc?
Cory Carlson is the Principal Officer of Reef Imperial Rose Inc. The CEO's salary of Reef Imperial Rose Inc is $0 and their total compensation is $0.
What is the revenue of Reef Imperial Rose Inc?
Reef Imperial Rose Inc's revenue in 2022 was $2,269,725.
Who are the executives of Reef Imperial Rose Inc and what are their salaries?
There 6 volunteers at Reef Imperial Rose Inc.
Here are 6 key members and their salaries (Reef Imperial Rose Inc's CEO's salary is $0 and their total compensation is $0):
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- Other: $0
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- Other: $0
Where can I find the form 990 for Reef Imperial Rose Inc?
Reef Imperial Rose Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Reef Imperial Rose Inc
Reef Imperial Rose Inc, as a title-holding company, was established with a specific purpose in mind. Its mission is to acquire, own, improve, lease, manage, operate, and hold real estate for investment purposes. This organization is organized with a limited scope, focusing solely on the aforementioned real estate activities. Its primary objective is to generate income from the real estate property, which is then remitted to its sole member, a trust exempt from federal income tax under Internal Revenue Code Section 501(A), as it qualifies as a pension plan as defined in IRC Section 401(A). In essence, Reef Imperial Rose Inc serves as a vehicle for investing in real estate, with the ultimate goal of generating income for its designated beneficiary.
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Impact
October, 2024
Reef Imperial Rose Inc plays a significant role in community improvement through its strategic activities in real estate. The organization focuses on acquiring, owning, and managing the Imperial Rose Plaza in Placentia, California. By improving and leasing this property, it contributes to the local economy and enhances the surrounding environment.
The net income generated from these operations is remitted to a qualified 501(a) parent trust, which is exempt from federal income tax. This structure allows for sustainable investment that can support various community-oriented projects or benefits over time. Through its efforts, Reef Imperial Rose Inc not only aims to maximize the value of its real estate holdings but also fosters community growth and development through responsible property management and investment practices.
This information is meant to be a general summary of Reef Imperial Rose 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.
- Investment Income: $489
- Program Service Revenue: $2,269,236
- Gross Receipts: $2,269,725
Assets and Liabilities:
- Total Assets: $18,562,883
- Total Liabilities: $422,816
- Net Assets: $18,140,067
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMERCIAL RENT
Revenue
$2,269,236
Organization Details
Founding Year
2006
Phone
(206) 382-0825Principal Officer
Cory Carlson
Main Address
1200 SIXTH AVE SUITE 700, SEATTLE, WA, 98101
NTEE Category
Code: S47 - Community improvement
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