Overview
What is Heritage Resources Ii Inc?
Heritage Resources II Inc is a nonprofit organization primarily dedicated to managing real estate, which it leases out. The revenue generated from renting these properties, after deducting expenses such as maintenance costs and mortgage payments, is then transferred to the controlling entity, as per Internal Revenue Code Section 501(c)(2). Notably, Heritage Resources II Inc holds this real estate specifically for the use of Mercer County Area Agency on Aging, a 501(c)(3) organization, thereby supporting the larger community's needs.
Is Heritage Resources Ii Inc legitimate?
Heritage Resources Ii Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Heritage Resources Ii Inc submitted a form 990EZ, 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.
What is the mission statement of Heritage Resources Ii Inc?
Heritage Resources II Inc. primarily exists to hold real estate, with the intention of leasing it out. The net income generated from renting out the property, after covering rental expenses and mortgage costs, is then transferred to the controlling entity, as per the Internal Revenue Code Section 501(c)(2). The company's real estate is used to support Mercer County Area Agency on Aging, a non-profit organization under Section 501(c)(3). This arrangement allows Heritage Resources II Inc. to contribute to the mission of Mercer County Area Agency on Aging, without directly engaging in its activities or mission. The specific mission of Mercer County Area Agency on Aging is not provided in the given information.
Who is the CEO of Heritage Resources Ii Inc?
Rick Gottuso is the President of Heritage Resources Ii Inc.
What is the revenue of Heritage Resources Ii Inc?
Heritage Resources Ii Inc's revenue in 2022 was $21,600.
Who are the executives of Heritage Resources Ii Inc and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990EZ for Heritage Resources Ii Inc?
Heritage Resources Ii Inc's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Heritage Resources Ii Inc
Heritage Resources II Inc, as a nonprofit organization, has a mission to hold real estate for leasing. The net income generated from the rental of these properties, after covering expenses such as rent and mortgage costs, is then transferred to the controlling entity in accordance with IRC section 501(c)(2). Notably, Heritage Resources II Inc serves the purpose of housing real estate for the Mercer County Area Agency on Aging, a 501(c)(3) organization. This implies that Heritage Resources II Inc plays a crucial role in providing a physical space for this nonprofit, thereby supporting its operations. In essence, Heritage Resources II Inc serves as a real estate holding entity, ensuring a steady source of income for its controlling entity while also offering its services to a nonprofit organization in the community.
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Impact
October, 2024
Heritage Resources II Inc plays a pivotal role in supporting the Mercer County Area Agency on Aging by managing real estate that is essential for its operations. By holding and leasing properties, the organization generates net income that is reinvested into the community, specifically benefiting aging services. This arrangement ensures financial stability for the agency while contributing to the overall improvement of community resources for older adults. The strategic management of real estate enhances the capacity of the agency to provide necessary support and services, ultimately fostering a stronger, more resilient community. Through its focus on community improvement, Heritage Resources II Inc strengthens the infrastructure of assistance available to seniors, ensuring their needs are met effectively.
This information is meant to be a general summary of Heritage Resources Ii 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.
- Gross Receipts: $21,600
Assets and Liabilities:
- Total Assets: $206,855
- Total Liabilities: $16,687
- Net Assets: $190,168
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Organization Details
Phone
(724) 662-6222Principal Officer
Rick Gottuso
Main Address
133 NORTH PITT STREET, MERCER, PA, 16137
NTEE Category
Code: S47 - Community improvement
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