Overview
What is 1715 Properties Inc?
1715 Properties Inc is a small nonprofit organization, headquartered in Philadelphia, Pennsylvania. Their primary focus is on acquiring and leasing real estate properties. The income generated from these properties is then distributed to qualified, tax-exempt organizations, as per the guidelines established by their board of directors. These organizations must adhere to certain eligibility criteria to receive this income. The nonprofit, with just two employees, plays a crucial role in providing financial support to other charitable organizations, thereby contributing to their collective mission.
Is 1715 Properties Inc legitimate?
1715 Properties Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. 1715 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: $104,400
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of 1715 Properties Inc?
1715 Properties Inc's mission is centered around the acquisition and leasing of real estate. The primary objective of the company is to hold title to these properties and generate income from them. Subsequently, this income, less any expenses, is then transferred to Citizens Acting Together Can Help, Inc., as well as other eligible organizations that fall under the 501(a) of the Internal Revenue Code and adhere to the eligibility criteria set by 1715 Properties Inc's board of directors. This approach allows these organizations to utilize the funds for their charitable purposes.
Who is the CEO of 1715 Properties Inc?
Raymond A Pescatore is the Ceo of 1715 Properties Inc. The CEO's salary of 1715 Properties Inc is $78,000 and their total compensation is $528,318.
What is the revenue of 1715 Properties Inc?
1715 Properties Inc's revenue in 2023 was $412,338.
Who are the executives of 1715 Properties Inc and what are their salaries?
The average compensation at 1715 Properties Inc during 2023 was $52,200. There are 2 employees at 1715 Properties Inc.
Here are 5 key members and their salaries (1715 Properties Inc's CEO's salary is $78,000 and their total compensation is $528,318):
- Compensation: $78,000
- Related: $422,493
- Other: $27,825
- Compensation: $26,400
- Related: $104,990
- Other: $2,850
- Compensation: $26,400
- Related: $0
- Other: $0
- Compensation: $6,000
- Related: $0
- Other: $0
- Compensation: $6,000
- Related: $0
- Other: $0
Where can I find the form 990 for 1715 Properties Inc?
1715 Properties Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of 1715 Properties Inc
1715 Properties Inc, as a nonprofit organization, is primarily dedicated to the acquisition and leasing of real estate. Its primary mission is to maintain ownership of these properties, collect income generated from them, and subsequently distribute the majority of this income, less expenses, to charitable organizations that are exempt from taxation under Section 501(a) of the Internal Revenue Code. These organizations must also adhere to eligibility criteria established by 1715 Properties Inc's board of directors. By fulfilling this mission, 1715 Properties Inc plays a crucial role in supporting these charitable organizations and contributing to their noble causes.
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Impact
October, 2024
1715 Properties Inc has a significant impact on community improvement in Philadelphia, PA, through its strategic acquisition and leasing of real estate. By holding title to properties and generating income from these assets, the organization has established a sustainable financial model that supports the broader mission of initiatives like CATCH, Inc. This income is reinvested back into the community by funding qualified organizations that align with their values and mission.
The focus on real estate creates opportunities for local development, addressing housing needs, and enhancing the overall well-being of the community. By empowering citizens and collaborating with other exempt organizations, 1715 Properties Inc contributes to the creation of stronger, more resilient neighborhoods. Their efforts not only support economic growth but also foster a sense of collective responsibility among community members, driving progress through collaboration and shared goals.
This information is meant to be a general summary of 1715 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 2023.
- Gross Receipts: $834,516
Assets and Liabilities:
- Total Assets: $4,309,412
- Total Liabilities: $3,117,300
- Net Assets: $1,192,112
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Organization Details
Founding Year
1983
Phone
(215) 735-7422Principal Officer
Raymond A Pescatore
Main Address
1409 Lombard Street, Philadelphia, PA, 19146
NTEE Category
Code: S47 - Community improvement
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