Overview
What is Midnight Sun Inc Iv?
Midnight Sun Inc Iv is a corporation established primarily for the acquisition and management of real property. The corporation collects income derived from this property and subsequently transfers the entire amount, after deducting expenses, to organizations categorized under section 501(C)(25) of the Internal Revenue Code. These organizations serve as the corporation's shareholders, furthering Midnight Sun Inc Iv's mission of generating income for designated nonprofits.
Is Midnight Sun Inc Iv legitimate?
Midnight Sun Inc Iv is a legitimate nonprofit organization registered as a 501(c)(25) entity. Midnight Sun Inc Iv 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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What is the mission statement of Midnight Sun Inc Iv?
Midnight Sun Inc Iv is established with the primary objective of acquiring and holding title to real property. The corporation collects income generated from this property and subsequently remits the entire amount, after deducting expenses, to organizations categorized under Section 501(C)(25) of the Internal Revenue Code. These organizations serve as the corporation's shareholders. In essence, Midnight Sun Inc Iv functions as a real estate entity that generates income, which is then distributed to qualifying organizations.
What is the revenue of Midnight Sun Inc Iv?
Midnight Sun Inc Iv's revenue in 2024 was $2,826,083.
Who are the executives of Midnight Sun Inc Iv and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Midnight Sun Inc Iv?
Midnight Sun Inc Iv's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Midnight Sun Inc Iv
Midnight Sun Inc Iv, as a corporation, is established with a singular mission. Its primary objective is to acquire and hold title to real property. This real estate serves as a source of income. The corporation then collects this income, deducting any expenses, and remits the entire net amount to one or more organizations categorized under IRC Section 501(C)(25). These organizations are recognized as the shareholders of Midnight Sun Inc Iv. In essence, the corporation's role is to generate income from real estate investments and distribute the profits to its shareholder organizations.
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Impact
October, 2024
Midnight Sun Inc Iv significantly impacts its community by acquiring and managing real estate assets, which generates income that is redistributed to organizations under Section 501(c)(25) of the Internal Revenue Code. This structure fosters financial stability and growth within the local economy by ensuring that income from these properties is invested back into community-focused initiatives. By holding and maintaining real property, Midnight Sun Inc Iv contributes to neighborhood development and improvement, while enhancing the overall quality of life for residents. The organization's dedication to remitting income to its shareholders further enables these organizations to pursue their missions, thereby amplifying their positive effects on the community. The focus on community improvement underscores the Corporation’s commitment to not just managing real estate but also actively participating in fostering a thriving local environment.
This information is meant to be a general summary of Midnight Sun Inc Iv. 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 2024.
- Program Service Revenue: $2,826,083
- Gross Receipts: $2,826,083
Assets and Liabilities:
- Total Assets: $90,439,865
- Total Liabilities: $545,650
- Net Assets: $89,894,215
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,826,083
Organization Details
Founding Year
2008
Principal Officer
Barbara A Missal
NTEE Category
Code: S47 - Community improvement
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