Overview
What is Foundation Property Inc?
Foundation Property Inc is a nonprofit organization based in State College, Pennsylvania, specifically at 1377 Ridge Master Drive. Its primary aim is to receive donations from the public to support Centre Foundation, Inc. The organization has received a significant gift of real property, which it utilizes for its offices. The core mission of Foundation Property Inc is to use these donations, along with any income and/or appreciation, to provide financial aid to non-profit organizations that are exempt from federal tax under IRC Section 501(c)(3). This allows these non-profit organizations to continue their charitable work and make a positive impact in their communities.
Is Foundation Property Inc legitimate?
Foundation Property Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundation Property 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Foundation Property Inc?
Foundation Property Inc. is established with the primary objective of receiving donations from the public. These contributions, along with the income and potential appreciation, are then utilized to provide financial support or grants to non-profit organizations that have tax-exempt status under IRC Section 501(c)(3). This organization's purpose is to assist these non-profits in their charitable endeavors. As per the provided information, Foundation Property Inc. specifically supports Centre Foundation Inc. by receiving a gift of real property, which is utilized for their office operations.
Who is the CEO of Foundation Property Inc?
Molly Kunkel is the Chair of Foundation Property Inc. The CEO's salary of Foundation Property Inc is $0 and their total compensation is $175,514.
What is the revenue of Foundation Property Inc?
Foundation Property Inc's revenue in 2022 was $10,230.
Who are the executives of Foundation Property Inc and what are their salaries?
Here are 7 key members and their salaries (Foundation Property Inc's CEO's salary is $0 and their total compensation is $175,514):
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- Compensation: $0
- Related: $143,801
- Other: $31,713
Where can I find the form 990 for Foundation Property Inc?
Foundation Property Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Foundation Property Inc
Foundation Property Inc is established with the primary objective of receiving charitable contributions from the public. The organization utilizes these donations, along with its income and/or property appreciation, to provide financial support or grants to non-profit organizations that are exempt from federal income tax under IRC Section 501(c)(3). This mission allows Foundation Property Inc to contribute to the well-being and advancement of various charitable causes, thereby making a significant impact in the non-profit sector. In a specific instance, Foundation Property Inc received a gift of real property, which it now uses for its operations. This demonstrates the organization's commitment to supporting non-profits, as evidenced by its receipt and utilization of public donations.
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Impact
October, 2024
Foundation Property Inc plays a significant role in enhancing the philanthropic landscape in State College, PA. By receiving gifts from the public, the organization channels valuable resources into supporting a range of nonprofit initiatives that are exempt under IRC Section 501(c)(3). This process not only helps sustain various community-focused projects but also allows for the appreciation of donated assets, thereby increasing the impact of those contributions over time.
The organization is particularly instrumental in supporting Centre Foundation, Inc., contributing essential resources and infrastructure through the gift of real property. This real estate serves as the operational hub for the foundation and its efforts, amplifying their capacity to effect positive change in the community.
Through strategic grants and support to nonprofits, Foundation Property Inc ensures that community needs are met effectively, fostering a culture of giving and enhancing the quality of life for residents. Its commitment to philanthropy embodies the essence of collective responsibility and strengthens the nonprofit sector in the region.
This information is meant to be a general summary of Foundation Property 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: $10,230
Assets and Liabilities:
- Total Assets: $268,151
- Total Liabilities: $254,556
- Net Assets: $13,595
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Organization Details
Founding Year
1999
Phone
(814) 237-6229Principal Officer
Molly Kunkel
Main Address
1377 RIDGE MASTER DRIVE, STATE COLLEGE, PA, 16803
NTEE Category
Code: T30 - Philanthropy
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