Overview
What is Newport Drive Properties?
Newport Drive Properties is a nonprofit organization located at 700 NEWPORT DR, Pittsburgh, PA 15234. Its primary purpose is to acquire and hold title to real property, specifically a school building, and generate income from it. This income is then remitted, after deducting expenses, to one or more organizations classified under Section 501(C)(25)(C) of the Internal Revenue Code of 1986, which primarily supports non-profit charter schools. In this capacity, Newport Drive Properties plays a role in supporting educational initiatives within its community.
Is Newport Drive Properties legitimate?
Newport Drive Properties is a legitimate nonprofit organization registered as a 501(c)(25) entity. Newport Drive Properties 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Newport Drive Properties?
Newport Drive Properties operates primarily with the objective of acquiring, holding title to, and collecting income from real property. The income generated, after deducting expenses, is then remitted to organizations categorized under Section 501(C)(25)(C) of the Internal Revenue Code of 1986, as amended. This organization primarily focuses on renting out a school building and providing occupational services to a non-profit charter school. The main purpose of Newport Drive Properties is to contribute financially to eligible organizations, utilizing its real estate activities.
Who is the CEO of Newport Drive Properties?
Omer Dogru is the President of Newport Drive Properties.
What is the revenue of Newport Drive Properties?
Newport Drive Properties's revenue in 2022 was $398,588.
Who are the executives of Newport Drive Properties and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Newport Drive Properties?
Newport Drive Properties's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Newport Drive Properties
Newport Drive Properties is an organization that is dedicated to a specific mission. This mission involves the acquisition, holding of title to, and the collection of income from real property. The unique aspect of Newport Drive Properties' mission is that the entire income collected from these properties, after deducting expenses, is then remitted to one or more organizations described under Section 501(C)(25)(C) of the Internal Revenue Code of 1986, as amended. In simpler terms, Newport Drive Properties operates primarily as a real estate entity, generating income from its properties, and then proceeding to donate this income to qualified nonprofit organizations.
The primary activity of Newport Drive Properties is the rental of a school building to a non-profit charter school. By providing a suitable and functional space for a charter school, Newport Drive Properties is indirectly contributing to the education of children and youth in the community. This activity aligns with the organization's mission, as the rental income generated is subsequently donated to qualified nonprofit organizations. By supporting educational institutions, Newport Drive Properties is helping to uplift communities and contribute to their overall development.
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Impact
October, 2024
Newport Drive Properties plays a significant role in the community by acquiring and managing real estate, specifically focused on properties utilized for educational purposes. By renting out a school building and providing essential occupational services to a non-profit charter school, the organization supports educational access and innovation in Pittsburgh. This not only contributes to the operational stability of the school but also enhances the overall educational landscape of the area.
The income generated from these properties is directed towards furthering the mission of affiliated organizations, ensuring that financial resources are efficiently utilized for community betterment. Through its real estate endeavors, Newport Drive Properties fosters community improvement, enhances local educational opportunities, and supports non-profit initiatives that enrich the lives of individuals in the Pittsburgh area. Overall, its impact is felt through the provision of valuable resources and services that benefit both students and the wider community.
This information is meant to be a general summary of Newport Drive Properties. 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: $1,186
- Gross Receipts: $655,039
Assets and Liabilities:
- Total Assets: $4,547,750
- Total Liabilities: $1,820,910
- Net Assets: $2,726,840
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Organization Details
Founding Year
2010
Phone
(570) 357-2214Principal Officer
Omer Dogru
Main Address
700 NEWPORT DR, PITTSBURGH, PA, 15234
NTEE Category
Code: S470 - Community improvement
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