Overview
What is Seafarers Maryland Building Corp?
Seafarers Maryland Building Corp is a nonprofit organization, established with the primary purpose of holding title to and operating property on behalf of the Seafarers Pension Plan, a tax-exempt parent organization. Situated at 5201 Capital Gateway Drive, Camp Springs, MD 20746, this corporation collects income from the property and subsequently transfers the total amount, after deducting expenses, to its parent organization. With a workforce of 13 individuals, Seafarers Maryland Building Corp contributes to the Seafarers Pension Plan's mission, without specifying the specific nature of the plan or its objectives.
Is Seafarers Maryland Building Corp legitimate?
Seafarers Maryland Building Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. Seafarers Maryland Building Corp 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: $591,193
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What is the mission statement of Seafarers Maryland Building Corp?
The Seafarers Maryland Building Corp's primary role is to maintain possession and manage property on behalf of the Seafarers Pension Plan, a tax-exempt parent organization. Their mission is to collect income generated from this property and subsequently transfer the net income, after deducting expenses, to the Seafarers Pension Plan. This organization operates with the objective of supporting the pension plan, ensuring its financial stability and growth.
Who is the CEO of Seafarers Maryland Building Corp?
Margaret Bowen is the President of Seafarers Maryland Building Corp.
What is the revenue of Seafarers Maryland Building Corp?
Seafarers Maryland Building Corp's revenue in 2022 was $2,439,792.
Who are the executives of Seafarers Maryland Building Corp and what are their salaries?
The average compensation at Seafarers Maryland Building Corp during 2022 was $45,476. There are 13 employees at Seafarers Maryland Building Corp.
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 Seafarers Maryland Building Corp?
Seafarers Maryland Building Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Seafarers Maryland Building Corp
Seafarers Maryland Building Corp is a corporation with a specific mission. Its primary objective is to serve as a trustee, holding title to property on behalf of the Seafarers Pension Plan, a tax-exempt parent organization. In this role, Seafarers Maryland Building Corp collects income generated from the property and meticulously manages its expenses. The corporation then transfers the remaining income, after accounting for expenses, to the Seafarers Pension Plan. This mission allows Seafarers Maryland Building Corp to contribute to the financial well-being of the Seafarers Pension Plan, thereby playing a crucial role in the organization's overall operations and financial stability.
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Impact
October, 2024
Seafarers Maryland Building Corp significantly impacts the financial stability of the Seafarers Pension Plan by serving as the entity that holds title to and operates property on its behalf. By managing these properties effectively, the organization generates income that is vital for supporting the pension plan, ultimately benefitting seafarers and their families. Through this financial stewardship, Seafarers Maryland Building Corp ensures that the resources are maximized and any income from the properties is appropriately directed to the pension plan, less necessary expenses. This structured approach not only strengthens the pension plan but also enhances the overall well-being of the maritime community in Camp Springs, Maryland, fostering economic improvement and security for its members.
This information is meant to be a general summary of Seafarers Maryland Building Corp. 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: $5,669
- Program Service Revenue: $2,434,123
- Gross Receipts: $2,439,792
Assets and Liabilities:
- Total Assets: $4,510,346
- Total Liabilities: $94,666
- Net Assets: $4,415,680
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,434,123
Organization Details
Founding Year
1981
Phone
(301) 899-0675Principal Officer
Margaret Bowen
Main Address
5201 CAPITAL GATEWAY DRIVE, CAMP SPRINGS, MD, 20746
NTEE Category
Code: S47 - Community improvement
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