Overview
What is Maac Asset Corporation?
Maac Asset Corporation is a nonprofit entity based in Edison, New Jersey, with an address at 712 Amboy Avenue, 088373554. Its primary purpose is to manage and maintain real property, serving as the legal title holder, for the benefit of the Metro Atlantic Athletic Conference (MAAC), its affiliated organization. By holding the legal title to property, Maac Asset Corporation ensures that the MAAC can utilize the property effectively, supporting its activities and mission.
Is Maac Asset Corporation legitimate?
Maac Asset Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Maac Asset Corporation 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 Maac Asset Corporation?
Maac Asset Corporation's primary mission is to legally hold and manage property, whether real, personal, or mixed, for the benefit and use of the Metro Atlantic Athletic Conference (MAAC). This organization serves as a trustee, ensuring that the property is maintained and utilized effectively for the conference's needs. The main objective is to support the MAAC in its operations and activities by providing it with the necessary property rights. The corporation's role is crucial in upholding the legal standing of the property and ensuring its availability for the conference's use.
Who is the CEO of Maac Asset Corporation?
Richard Ensor is the Secretary-Treasurer of Maac Asset Corporation.
What is the revenue of Maac Asset Corporation?
Maac Asset Corporation's revenue in 2022 was $47,000.
Who are the executives of Maac Asset Corporation and what are their salaries?
There 11 volunteers at Maac Asset Corporation.
Here are 13 key members and their salaries:
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- Related: $301,428
- Other: $60,519
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- Related: $99,587
- Other: $44,874
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- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Maac Asset Corporation?
Maac Asset Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Maac Asset Corporation
Maac Asset Corporation, as a nonprofit entity, is primarily tasked with holding the legal title to property. This property, whether real, personal, or a mix of both, is acquired by the organization for the sole purpose of maintaining and managing it. The ultimate goal of Maac Asset Corporation is to ensure that this property is utilized and benefits the Metro Atlantic Athletic Conference (MAAC), its affiliate. By holding and managing the property in this manner, Maac Asset Corporation plays a crucial role in supporting the activities and operations of the MAAC.
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Impact
October, 2024
Maac Asset Corporation significantly contributes to the operational stability of the Metro Atlantic Athletic Conference (MAAC) by holding legal title to various properties. By acquiring, maintaining, and managing real, personal, or mixed properties, it ensures that the MAAC has the necessary facilities to support its athletic programs and community initiatives. This function not only facilitates the logistical needs of the conference but also enhances the overall experience for student-athletes and member institutions.
Located in Edison, NJ, Maac Asset Corporation plays a vital role in fostering community improvement through its dedicated stewardship of property. By focusing on the operational needs of the conference, it aids in the development and promotion of collegiate athletics in the region, positively impacting both local communities and the broader athletic landscape. The organization's mission highlights its commitment to maintaining these assets for the benefit of MAAC affiliates, ultimately contributing to the growth and sustainability of collegiate sports within the conference.
This information is meant to be a general summary of Maac Asset Corporation. 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: $47,000
- Gross Receipts: $47,000
Assets and Liabilities:
- Total Assets: $901,342
- Total Liabilities: $213,311
- Net Assets: $688,031
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$47,000
Organization Details
Founding Year
1993
Phone
(732) 738-5455Principal Officer
Richard Ensor
Main Address
712 AMBOY AVENUE, EDISON, NJ, 088373554
NTEE Category
Code: S47 - Community improvement
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