Overview
What is 2223 Wellington Place Corporation C/O Ocers?
2223 Wellington Place Corporation C/O Ocers is a corporation established primarily for the purpose of acquiring real property. Located in Santa Ana, California, the corporation's main objective is to manage and generate income from these properties. The income, after deducting expenses, is then remitted to its sole shareholder, Orange County Employees Retirement System. The corporation's mission is to benefit its shareholder through real estate acquisitions and property management.
Is 2223 Wellington Place Corporation C/O Ocers legitimate?
2223 Wellington Place Corporation C/O Ocers is a legitimate nonprofit organization registered as a 501(c)(25) entity. 2223 Wellington Place Corporation C/O Ocers 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 2223 Wellington Place Corporation C/O Ocers?
The mission of 2223 Wellington Place Corporation, as represented by its managing body OCERS, is centered around acquiring and holding real property. This is done with the primary goal of benefiting its qualifying shareholder, which is the Orange County Employees Retirement System. The corporation holds title to the acquired properties, collects income from them, and subsequently remits the net income, after deducting expenses, to its shareholder. This financial arrangement is the core purpose of 2223 Wellington Place Corporation.
Who is the CEO of 2223 Wellington Place Corporation C/O Ocers?
Tracy Bowman is the President/Chair of 2223 Wellington Place Corporation C/O Ocers.
What is the revenue of 2223 Wellington Place Corporation C/O Ocers?
2223 Wellington Place Corporation C/O Ocers's revenue in 2022 was -$664,706.
Who are the executives of 2223 Wellington Place Corporation C/O Ocers and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $346,519
- Other: $185,366
- Compensation: $0
- Related: $309,711
- Other: $182,247
- Compensation: $0
- Related: $300,704
- Other: $165,660
- Compensation: $0
- Related: $326,781
- Other: $189,809
- Compensation: $0
- Related: $196,264
- Other: $99,770
- Compensation: $0
- Related: $213,198
- Other: $121,742
Where can I find the form 990 for 2223 Wellington Place Corporation C/O Ocers?
2223 Wellington Place Corporation C/O Ocers's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 2223 Wellington Place Corporation C/O Ocers
2223 Wellington Place Corporation, a corporation with Orange County Employees Retirement System as its sole shareholder, has a mission to acquire and hold real property for the benefit of its qualifying shareholder. This organization operates with the primary objective of purchasing properties, holding the title to them, and generating income from these properties. Subsequently, the corporation remits the net income, after deducting expenses, to its shareholder, the Orange County Employees Retirement System. In essence, the mission of 2223 Wellington Place Corporation is to serve as a property management entity, ensuring the financial gain of its principal shareholder.
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Impact
October, 2024
2223 Wellington Place Corporation C/O Officers plays a significant role in enhancing financial stability for its qualifying shareholder, the Orange County Employees Retirement System (OCERS). By acquiring and managing real estate, the corporation generates income that contributes to the retirement system, ensuring that funds are available to support the retirement benefits of county employees.
The corporation's focus on real estate not only provides a steady revenue stream but also helps diversify the investment portfolio of OCERS, potentially reducing overall risk. Additionally, by managing property assets, it can contribute to local community improvement, fostering economic growth and stability within Santa Ana and the broader Orange County region. This strategic acquisition and holding of real property ultimately promotes a sustainable financial future for the retirees within the system.
This information is meant to be a general summary of 2223 Wellington Place Corporation C/O Ocers. 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.
- Gross Receipts: $703,258
Assets and Liabilities:
- Total Assets: $17,424,939
- Total Liabilities: $190,023
- Net Assets: $17,234,916
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Organization Details
Founding Year
1996
Phone
(714) 558-6206Principal Officer
Tracy Bowman
Main Address
2223 WELLINGTON AVE, SANTA ANA, CA, 92701
NTEE Category
Code: S47 - Community improvement
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