Overview
What is Midnight Sun Inc Vi?
Midnight Sun Inc Vi is a corporation based in Hartford, Connecticut, specifically located at 10 State House Square, 15th Floor. Its primary function is to acquire and hold title to real property, collect income generated from these properties, and then distribute the entire income, after deducting expenses, to organizations categorized under I.R.C. Section 501(C)(25). These organizations serve as Midnight Sun Inc Vi's shareholders. The corporation's mission is exclusively focused on real estate acquisition, property management, and income distribution, thereby contributing financially to the designated organizations.
Is Midnight Sun Inc Vi legitimate?
Midnight Sun Inc Vi is a legitimate nonprofit organization registered as a 501(c)(25) entity. Midnight Sun Inc Vi 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 Midnight Sun Inc Vi?
Midnight Sun Inc Vi is established with the primary objective of acquiring real property and generating income from it. The corporation then remits the entire income, after deducting expenses, to one or more organizations that fall under the IRC Section 501(C)(25). These organizations serve as shareholders for Midnight Sun Inc Vi. In simpler terms, Midnight Sun Inc Vi specializes in property investment, collecting income from these properties, and distributing the net earnings to approved charitable organizations.
Who is the CEO of Midnight Sun Inc Vi?
James B Mccandless is the Director of Midnight Sun Inc Vi.
What is the revenue of Midnight Sun Inc Vi?
Midnight Sun Inc Vi's revenue in 2022 was $2,436,859.
Who are the executives of Midnight Sun Inc Vi and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Midnight Sun Inc Vi?
Midnight Sun Inc Vi's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Midnight Sun Inc Vi
Midnight Sun Inc Vi is a corporation with a specific mission. Its primary objective is to acquire and hold title to real property. The income generated from this property is then collected and, after deducting expenses, the entire amount is remitted to one or more organizations that fall under the category of 501(c)(25) in the Internal Revenue Code. These organizations serve as the shareholders of Midnight Sun Inc Vi. In simpler terms, Midnight Sun Inc Vi acquires, manages, and profits from real estate investments, and then distributes these earnings to its shareholder organizations.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Midnight Sun Inc Vi has a significant impact on community improvement through its activities centered on real estate management. By acquiring and holding title to various properties, the organization generates income that can be directed towards supporting other entities aligned with its mission. This financial redistribution not only bolsters efforts within the shareholder organizations, which may be focused on furthering social, educational, or economic initiatives, but it also contributes to the overall enhancement of the Hartford community.
The corporation's focused approach ensures that resources are effectively utilized, with income streams reinvested in once-overlooked areas or projects that require funding. This cycle of acquisition, income generation, and redistribution fosters an ecosystem of support that can lead to the revitalization of neighborhoods, enhancement of local services, and ultimately, a stronger community fabric. By operating within the framework of real property, Midnight Sun Inc Vi also plays a role in the stability and growth of the housing and real estate market in its area, further underlining its commitment to community improvement.
This information is meant to be a general summary of Midnight Sun Inc Vi. 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.
- Program Service Revenue: $2,436,859
- Gross Receipts: $2,436,859
Assets and Liabilities:
- Total Assets: $86,451,377
- Total Liabilities: $1,126,490
- Net Assets: $85,324,887
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,436,859
Organization Details
Founding Year
2008
Phone
(860) 616-9200Principal Officer
James B Mccandless
Main Address
10 STATE HOUSE SQUARE 15TH FLOOR, HARTFORD, CT, 061033604
NTEE Category
Code: S47 - Community improvement
If you are a representative of Midnight Sun Inc Vi and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.