Overview
What is Abcd Real Estate Corporation Inc?
Abcd Real Estate Corporation Inc is a nonprofit organization situated in Boston, Massachusetts. Established with the primary objective of acquiring and holding real estate, this corporation leases out its properties to ABCD, Inc. and designated entities. The purpose behind this strategy is to derive various benefits, such as exemptions from property taxes and other cost-saving advantages, thereby reducing overall space expenses.
Is Abcd Real Estate Corporation Inc legitimate?
Abcd Real Estate Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Abcd Real Estate Corporation 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:
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What is the mission statement of Abcd Real Estate Corporation Inc?
Abcd Real Estate Corporation Inc was established with the primary purpose of acquiring and holding real estate. The corporation intends to lease out this real estate to Abcd Inc and its designated entities, with the aim of reducing space costs. This is achieved through the exemption of property taxes and other financial savings. By doing so, Abcd Real Estate Corporation Inc aims to provide cost-effective solutions for leasing spaces, benefitting both the corporation and its tenants.
Who is the CEO of Abcd Real Estate Corporation Inc?
Sharon Scott-Chandler is the Chair of Abcd Real Estate Corporation Inc.
What is the revenue of Abcd Real Estate Corporation Inc?
Abcd Real Estate Corporation Inc's revenue in 2022 was $66,388.
Who are the executives of Abcd Real Estate Corporation Inc and what are their salaries?
There 7 volunteers at Abcd Real Estate Corporation Inc.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Abcd Real Estate Corporation Inc?
Abcd Real Estate Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Abcd Real Estate Corporation Inc
Abcd Real Estate Corporation Inc was established with a mission to acquire and hold real estate. This corporation's primary objective is to lease out these properties to Abcd Inc and its designated entities. By doing so, Abcd Real Estate Corporation Inc aims to reduce the overall space costs for these entities. This strategic move allows the corporation to avail of property tax exemptions and other economic benefits, thereby providing financial savings. In essence, Abcd Real Estate Corporation Inc serves as a property provider, helping its affiliated entities to optimize their space utilization and financial resources.
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Impact
October, 2024
Abcd Real Estate Corporation Inc plays a crucial role in enhancing community development and financial sustainability in Boston, MA. By acquiring and holding real estate, the corporation effectively provides leasing solutions to ABCD, Inc. and its designated agencies or subsidiaries. This strategic approach not only reduces space costs through exemptions from property taxes but also allows for financial efficiencies that can be redirected to support community services and programs.
The organization’s activities contribute significantly to the local economy by maintaining and managing properties that serve vital community functions. By leveraging real estate assets, Abcd Real Estate Corporation Inc facilitates the growth of essential services, ensuring they are cost-effective and accessible. This ultimately supports broader community improvement initiatives, fostering a better environment for residents and enhancing overall quality of life in the area.
This information is meant to be a general summary of Abcd Real Estate Corporation 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: $230
- Gross Receipts: $4,785,135
Assets and Liabilities:
- Total Assets: $32,424,216
- Total Liabilities: $17,879
- Net Assets: $32,406,337
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Organization Details
Founding Year
1972
Phone
(617) 348-6376Principal Officer
Sharon Scott-Chandler
Main Address
178 TREMONT STREET, BOSTON, MA, 02111
NTEE Category
Code: S47 - Community improvement
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