Overview
What is King-West Properties Inc?
King-West Properties Inc is a nonprofit organization, primarily serving as a property holding entity. Located in Alexandria, Virginia, its main purpose is to maintain ownership of a particular office building, which was established in 2007. The building houses the administrative offices of the Federation of State Boards of Physical Therapy, its parent company, on two floors. Furthermore, additional space within the building is rented to the Foreign Credentialing Commission of Physical Therapy, a related 501(c)(6) organization. King-West Properties Inc's function is to collect rental income from this property and subsequently transfer the net income to the Federation of State Boards of Physical Therapy, in accordance with the Internal Revenue Code Section 501(c)(2).
Is King-West Properties Inc legitimate?
King-West Properties Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. King-West 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
What is the mission statement of King-West Properties Inc?
King-West Properties Inc's primary function is to serve as a property holding entity. The company's sole purpose is to maintain ownership of certain properties, collect rents from these properties, and then forward the net income to the Federation of State Boards of Physical Therapy, a 501(c)(6) exempt organization, in accordance with IRC Section 501(c)(2). The office building owned by King-West Properties Inc was put into service in July 2007. Two floors of the building are occupied by the Federation of State Boards of Physical Therapy, serving as their administrative offices. Additionally, space on these two floors is also rented to the Foreign Credentialing Commission of Physical Therapy, a related 501(c)(6) organization.
Who is the CEO of King-West Properties Inc?
Linda Michelsen is the President of King-West Properties Inc. The CEO's salary of King-West Properties Inc is $0 and their total compensation is $913,830.
What is the revenue of King-West Properties Inc?
King-West Properties Inc's revenue in 2022 was $2,026,074.
Who are the executives of King-West Properties Inc and what are their salaries?
Here are 11 key members and their salaries (King-West Properties Inc's CEO's salary is $0 and their total compensation is $913,830):
- Compensation: $0
- Related: $9,333
- Other: $0
- Compensation: $0
- Related: $1,333
- Other: $0
- Compensation: $0
- Related: $8,000
- Other: $0
- Compensation: $0
- Related: $8,000
- Other: $0
- Compensation: $0
- Related: $8,000
- Other: $0
- Compensation: $0
- Related: $8,000
- Other: $0
- Compensation: $0
- Related: $8,000
- Other: $0
- Compensation: $0
- Related: $8,000
- Other: $0
- Compensation: $0
- Related: $687,973
- Other: $225,857
- Compensation: $0
- Related: $302,128
- Other: $109,479
- Compensation: $0
- Related: $13,333
- Other: $0
Where can I find the form 990 for King-West Properties Inc?
King-West Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of King-West Properties Inc
King-West Properties Inc, as a company, is primarily established with the sole purpose of holding title to property and collecting rents from it. The primary objective of this organization is to remit the net income derived from the property to its parent organization, the Federation of State Boards of Physical Therapy, an exempt 501(C)(6) organization, in accordance with IRC Section 501(C)(2).
In essence, King-West Properties Inc serves as a real estate holding entity, collecting income from its property holdings and transferring the surplus income, after deducting expenses, to its affiliated organization, the Federation of State Boards of Physical Therapy. This arrangement allows the Federation to utilize the income generated by King-West Properties Inc for its operations and mission, which is to promote the advancement of physical therapy and protect the public through appropriate licensure and regulation of physical therapists.
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Impact
October, 2024
King-West Properties Inc significantly contributes to the regional economy by effectively managing real estate assets that generate rental income. Located in Alexandria, VA, the organization operates an office building that supports the Federation of State Boards of Physical Therapy by housing its administrative offices. This arrangement not only provides essential operational space for the Federation but also contributes to the financial health of the organization through the collection of rents from tenants, including the Foreign Credentialing Commission of Physical Therapy.
By maintaining a focused mission to hold property and generate income, King-West enhances the sustainability of the Federation's activities and initiatives within the physical therapy profession. The rental income, after expenses, is remitted to the Federation, thereby enabling it to further its goals and support its stakeholder community. Overall, King-West Properties Inc plays a crucial role in fostering operational efficiency and financial stability for organizations committed to the advancement of physical therapy standards and practices.
This information is meant to be a general summary of King-West 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 2022.
- Investment Income: $65,200
- Program Service Revenue: $1,145,083
- Gross Receipts: $2,026,074
Assets and Liabilities:
- Total Assets: $12,853,371
- Total Liabilities: $6,604,039
- Net Assets: $6,249,332
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BUILDING RENTAL
Revenue
$1,033,416
CAM
Revenue
$67,642
PARKING
Revenue
$44,025
Organization Details
Founding Year
2006
Phone
(703) 299-3100Principal Officer
Linda Michelsen
Main Address
124 WEST STREET SOUTH 3RD FL, ALEXANDRIA, VA, 22314
NTEE Category
Code: T11 - Philanthropy
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