Overview
What is Reef Barnes Canyon Inc?
Reef Barnes Canyon Inc is a title-holding company, established with a specific mission in Seattle, Washington. The organization's primary objective is to acquire, manage, and hold real estate properties for investment purposes. This nonprofit is structured to collect income from these properties and distribute the earnings, after deducting expenses, to its sole member, which is a tax-exempt trust under the Internal Revenue Code. The entity's role is limited but crucial in the realm of real estate investment.
Is Reef Barnes Canyon Inc legitimate?
Reef Barnes Canyon Inc is a legitimate nonprofit organization registered as a 501(c)(25) entity. Reef Barnes Canyon 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 Reef Barnes Canyon Inc?
Reef Barnes Canyon Inc is established as a title-holding company, with a limited purpose. Its main objective is to acquire, own, improve, lease, manage, operate, and hold real estate for investment purposes. The company's primary function is to acquire properties, hold the titles, collect income from these properties, and then distribute the income, after deducting expenses, to its sole member, a tax-exempt trust under the Internal Revenue Code.
Who is the CEO of Reef Barnes Canyon Inc?
Cory Carlson is the Principal Officer of Reef Barnes Canyon Inc. The CEO's salary of Reef Barnes Canyon Inc is $0 and their total compensation is $0.
What is the revenue of Reef Barnes Canyon Inc?
Reef Barnes Canyon Inc's revenue in 2022 was $1,547,849.
Who are the executives of Reef Barnes Canyon Inc and what are their salaries?
There 6 volunteers at Reef Barnes Canyon Inc.
Here are 6 key members and their salaries (Reef Barnes Canyon Inc's CEO's salary is $0 and their total compensation is $0):
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Reef Barnes Canyon Inc?
Reef Barnes Canyon Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Reef Barnes Canyon Inc
Reef Barnes Canyon Inc, as a title-holding company, is primarily established for the limited purpose of acquiring, owning, improving, leasing, managing, operating, and holding real estate for investment purposes. The organization's main objective is to acquire real property and generate income from it. The profits earned from these properties are then remitted to its sole member, a trust exempt from federal income tax under Internal Revenue Code (IRC) Section 501(a), which is classified as a qualified pension plan as defined in IRC Section 401(a). In simple terms, Reef Barnes Canyon Inc acts as a real estate investment firm, with the primary goal of generating income through the acquisition and management of properties.
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Impact
October, 2024
Reef Barnes Canyon Inc makes a significant impact through its strategic acquisition and management of real estate assets. By focusing on improving, leasing, and operating properties, the organization generates income that is channeled back into the community through its sole member, a tax-exempt trust. This structure not only enhances property values but also contributes to local economic growth.
The dedicated efforts in real estate management facilitate community improvement by offering quality housing and commercial spaces, which can lead to further investment in the area. By ensuring that these properties meet high standards, Reef Barnes Canyon Inc plays a critical role in enhancing the living environment and fostering a thriving community in Seattle, WA. Overall, its focus on real estate investment supports sustained economic development and bolsters the well-being of the local population.
This information is meant to be a general summary of Reef Barnes Canyon 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: $68
- Program Service Revenue: $1,547,781
- Gross Receipts: $1,547,849
Assets and Liabilities:
- Total Assets: $10,951,296
- Total Liabilities: $239,849
- Net Assets: $10,711,447
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OFFICE RENT
Revenue
$1,547,781
Organization Details
Founding Year
2008
Phone
(206) 382-0825Principal Officer
Cory Carlson
Main Address
1200 SIXTH AVE 700, SEATTLE, WA, 98101
NTEE Category
Code: S470 - Community improvement
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