Overview
What is Upstate Properties Development Inc?
Upstate Properties Development Inc is a nonprofit organization situated in Syracuse, New York, with its headquarters at 750 East Adams Street. The primary objective of this organization is to manage property titles and generate income from these properties. This revenue is then distributed to its sole member, Upstate Medical University, for their exempt purpose usage. The organization's expenses mainly include debt payments, property depreciation, and other operational costs related to its exempt purpose, as well as development costs for additional properties intended for rental.
Is Upstate Properties Development Inc legitimate?
Upstate Properties Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Upstate Properties Development 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 Upstate Properties Development Inc?
Upstate Properties Development Inc's primary purpose is to manage property titles and generate income from these properties. This income is then distributed to its sole beneficiary, Upstate Medical University, for their exempt purposes. The organization incurs expenses related to debt payments, property depreciation, and other operational expenses that align with its exempt purpose. Additionally, Upstate Properties Development Inc may also cover costs associated with developing other properties for renting.
Who is the CEO of Upstate Properties Development Inc?
Eric Smith is the Vice Chair of Upstate Properties Development Inc.
What is the revenue of Upstate Properties Development Inc?
Upstate Properties Development Inc's revenue in 2022 was $3,447,529.
Who are the executives of Upstate Properties Development Inc and what are their salaries?
There 4 volunteers at Upstate Properties Development Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $560,824
- Other: $76,795
- Compensation: $0
- Related: $459,928
- Other: $76,795
- Compensation: $0
- Related: $178,205
- Other: $63,901
Where can I find the form 990 for Upstate Properties Development Inc?
Upstate Properties Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Upstate Properties Development Inc
Upstate Properties Development Inc, as per its mission, exists primarily to serve a sole purpose. This purpose involves holding the title to certain properties and generating income from these assets. This income is then distributed to its sole member, Upstate Medical University, for use in furthering their exempt objectives. The organization incurs expenses associated with debt payments, property depreciation, and other operating costs related to its exempt purpose. Beyond this, Upstate Properties Development Inc also invests in the development of additional properties to rent out, contributing to its overall operations.
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Impact
October, 2024
Upstate Properties Development Inc significantly contributes to the operational and financial sustainability of Upstate Medical University in Syracuse, NY. By holding property titles and managing the income generated from these properties, the organization ensures a steady revenue stream that supports educational activities and resources. The development and maintenance of properties not only enhance facilities within the university but also provide a stable foundation for future projects.
The organization's activities include managing expenses related to property maintenance and development, which directly impacts the quality of the environment in which students and faculty operate. The income collected is strategically distributed to Upstate Medical University, reinforcing the institution's mission to deliver high-quality education and healthcare services.
This model of property development and income distribution allows for a focus on long-term financial health, enabling Upstate Medical University to invest in innovative programs, research, and expanded educational opportunities. By aligning property management with educational goals, Upstate Properties Development Inc plays a crucial role in enhancing the university's impact on the community and the broader educational landscape.
This information is meant to be a general summary of Upstate Properties Development 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: $2,284
- Program Service Revenue: $2,685,203
- Gross Receipts: $3,447,529
Assets and Liabilities:
- Total Assets: $35,877,673
- Total Liabilities: $31,041,775
- Net Assets: $4,835,898
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,685,203
Organization Details
Founding Year
2008
Phone
(315) 464-4694Principal Officer
Eric Smith
Main Address
750 EAST ADAMS STREET, SYRACUSE, NY, 13210
NTEE Category
Code: B11 - Education
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