Overview
What is Nea Properties Inc?
Nea Properties Inc, based in Washington D.C., is a wholly-owned real estate holding company. Its primary function is to manage property titles and generate income from these assets. The company's operations involve collecting rental income, and subsequently, reporting all earnings, after accounting for expenses, to its parent organization, the National Education Association of the United States. As a subsidiary, Nea Properties Inc operates under the tax-exempt status granted to its parent organization under Section 501(C)(5) of the Internal Revenue Code.
Is Nea Properties Inc legitimate?
Nea Properties Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Nea 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
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What is the mission statement of Nea Properties Inc?
Nea Properties Inc, as a wholly-owned real estate holding company, primarily exists to maintain property titles and generate income from these properties. The company then reports all net income after expenses to its parent organization, the National Education Association of the United States, which operates under Section 501(C)(5) of the Internal Revenue Code, exempting it from income tax. In essence, Nea Properties Inc serves as a financial contributor to its parent organization by managing real estate assets and transmitting the resulting income.
Who is the CEO of Nea Properties Inc?
Princess Moss is the President of Nea Properties Inc.
What is the revenue of Nea Properties Inc?
Nea Properties Inc's revenue in 2022 was $2,213,728.
Who are the executives of Nea Properties Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $373,072
- Other: $131,483
- Compensation: $0
- Related: $254,661
- Other: $106,675
- Compensation: $0
- Related: $367,118
- Other: $125,574
Where can I find the form 990 for Nea Properties Inc?
Nea Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Nea Properties Inc
Nea Properties Inc, a wholly-owned real estate holding company, is on a mission to manage property and generate income. This income is then reported to its parent organization, the National Education Association of the United States, which is exempt from income tax under IRC Section 501(C)(5). Essentially, Nea Properties Inc serves as a financial arm for its parent organization, ensuring a steady stream of income to support their cause. The company's purpose is not to seek profit for itself, but rather to contribute to the broader mission of its affiliate organization.
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Impact
October, 2024
Nea Properties Inc significantly impacts both the real estate sector and the educational community by managing and optimizing properties that generate income to support educational initiatives. As a wholly-owned real estate holding company, its primary function is to hold title to various properties and ensure that the income from these assets effectively funds the activities of its parent organization, the National Education Association (NEA).
The income collected and reported after expenses is directed toward vital educational programs and services, thereby enhancing the resources available for educators and contributing to the overall advancement of education. Additionally, by maintaining a dedicated focus on property management, Nea Properties Inc creates employment opportunities and plays a role in the local economy, furthering its overall impact in the Washington, DC area and beyond. This multifaceted approach not only supports the NEA’s mission but also strengthens the connection between real estate management and educational advocacy.
This information is meant to be a general summary of Nea 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $15,016
- Program Service Revenue: $2,010,964
- Gross Receipts: $2,213,728
Assets and Liabilities:
- Total Assets: $16,499,907
- Total Liabilities: $305,290
- Net Assets: $16,194,617
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,010,964
Organization Details
Founding Year
2009
Phone
(202) 822-7572Principal Officer
Princess Moss
Main Address
1201 16TH STREET NW 519, WASHINGTON, DC, 200363201
NTEE Category
Code: J11 - Employment
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