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Cumberland Wellness Properties Inc

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 261289884 ✦ Williamsburg, KY ✦ Designated as a 501(c)(3)

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Overview

What is Cumberland Wellness Properties Inc?

Cumberland Wellness Properties Inc, situated in Williamsburg, Kentucky, was established with a specific objective. The company's primary mission is to facilitate a New Markets Tax Credit transaction, enabling the University of the Cumberlands Inc to secure additional funding. This funding is crucial for the completion of state-of-the-art educational facilities, including a science building, swimming pool, and certain athletic fields. By leasing these properties to the university, Cumberland Wellness Properties Inc plays a significant role in enhancing the educational environment for students.

Is Cumberland Wellness Properties Inc legitimate?

Cumberland Wellness Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cumberland Wellness 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here

What is the mission statement of Cumberland Wellness Properties Inc?

Cumberland Wellness Properties Inc's mission is centered around acquiring certain properties from the University of Cumberlands Inc. The primary goal is to utilize these properties in a New Markets Tax Credit transaction, which in turn, will facilitate the construction of a state-of-the-art science building, a swimming pool, and several athletic fields. This initiative aims to provide the University with enhanced educational facilities, enabling it to offer superior educational opportunities.

Who is the CEO of Cumberland Wellness Properties Inc?

Quentin Young is the Vice President of Cumberland Wellness Properties Inc.

What is the revenue of Cumberland Wellness Properties Inc?

Cumberland Wellness Properties Inc's revenue in 2022 was $123,798.

Who are the executives of Cumberland Wellness Properties Inc and what are their salaries?


Here are 2 key members and their salaries:


Quentin Young (Vice President)
  • Compensation: $0
  • Related: $194,540
  • Other: $23,133
Larry Cockrum (President)
  • Compensation: $0
  • Related: $1,562,249
  • Other: $42,789
Where can I find the form 990 for Cumberland Wellness Properties Inc?

Cumberland Wellness Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Cumberland Wellness Properties Inc

Cumberland Wellness Properties Inc, a newly established organization, has a mission to facilitate a New Markets Tax Credit transaction. This mission involves leasing certain properties, including a state-of-the-art science building, a pool, and some athletic fields, to the University of the Cumberlands Inc. The primary objective is to provide the university with the necessary funding to enhance its educational facilities. By doing so, Cumberland Wellness Properties Inc is contributing to the improvement of educational opportunities, fostering a conducive learning environment for the students at the University of the Cumberlands Inc.

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Impact




October, 2024

Cumberland Wellness Properties Inc plays a pivotal role in enhancing educational infrastructure by facilitating the acquisition of properties from the University of the Cumberlands. This strategic initiative supports the university's efforts to secure funding through a New Markets Tax Credit transaction, which is crucial for developing a state-of-the-art science building, a pool, and athletic fields.

By leasing these facilities back to the university, Cumberland Wellness Properties Inc ensures that students have access to modern educational resources and athletic facilities that contribute to a comprehensive learning environment. The impact of this initiative extends beyond the immediate benefits of improved facilities; it fosters an ecosystem that encourages academic excellence and promotes physical wellness among students in Williamsburg, KY.

Through this partnership, Cumberland Wellness Properties Inc not only enhances the university's educational offerings but also supports the broader community by positioning the university as a center for educational advancement and wellness, ultimately benefitting students and residents alike.




This information is meant to be a general summary of Cumberland Wellness 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.

Revenue
$123,798 (2022)
Expenses
$388,729 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Program Service Revenue: $123,798
  • Gross Receipts: $123,798

Assets and Liabilities:

  • Total Assets: $8,319
  • Total Liabilities: $19,763
  • Net Assets: -$11,444

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

RENTAL INCOME

Revenue

$123,798

Organization Details

Founding Year

2007

Principal Officer

Quentin Young

Main Address

6180 COLLEGE STATION DRIVE, WILLIAMSBURG, KY, 40769

NTEE Category

Code: B194 - Education

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