Overview
What is Forty Four Corporation?
Forty Four Corporation is a nonprofit organization situated in Toledo, Ohio, specifically at 435 S Hawley St. Its primary mission is to manage and maintain the Teamsters Building in the area, serving as a hub for Teamsters Local 20, an exempt organization, as well as related labor-oriented nonprofits. The corporation utilizes the net rental income derived from this building to cover its operational expenses. With a team of seven employees, Forty Four Corporation is dedicated to ensuring the smooth functioning and upkeep of this vital facility for its exempt organization tenants.
Is Forty Four Corporation legitimate?
Forty Four Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Forty Four Corporation 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: $384,167
For more financial information, click here
What is the mission statement of Forty Four Corporation?
Forty Four Corporation's primary mission is centered around maintaining and operating a building, specifically the Teamsters Building in Toledo, Ohio. This is done for Teamsters Local 20, an exempt organization, as well as related labor organizations. The purpose of this operation is to generate net rental income, which is then utilized to cover the expenses associated with managing the building. The corporation's activities are aligned with supporting exempt organizations.
Who is the CEO of Forty Four Corporation?
Mark Schmiehausen is the President of Forty Four Corporation.
What is the revenue of Forty Four Corporation?
Forty Four Corporation's revenue in 2022 was $882,151.
Who are the executives of Forty Four Corporation and what are their salaries?
The average compensation at Forty Four Corporation during 2022 was $54,881. There are 7 employees at Forty Four Corporation.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $117,118
- Other: $50,537
- Compensation: $0
- Related: $116,428
- Other: $40,937
Where can I find the form 990 for Forty Four Corporation?
Forty Four Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Forty Four Corporation
Forty Four Corporation, as a entity, is devoted to overseeing the maintenance and operations of a building. The primary objective of this corporation is to cater to Teamsters Local 20, an exempt organization, and other related exempt labor organizations. By managing and maintaining the Teamsters Building located in Toledo, Ohio, Forty Four Corporation generates net rental income. This income is then utilized to cover the expenses associated with operating the building, which serves an exempt organization. In essence, Forty Four Corporation plays a crucial role in ensuring the smooth functioning and upkeep of the Teamsters Building, thereby supporting the activities of its associated exempt organizations.
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Impact
October, 2024
Forty Four Corporation plays a vital role in the maintenance and operations of the Teamsters Building in Toledo, Ohio, serving Teamsters Local 20 and related labor organizations. By managing building maintenance and operations, the corporation ensures that vital resources are available for labor activities and community engagement. The net rental income generated from this initiative is reinvested to cover building expenses, creating a sustainable model that supports the operational needs of exempt organizations.
Through its commitment to excellence in facility management, Forty Four Corporation enhances the infrastructure available for community programs and labor initiatives, enabling them to focus on their missions without the burden of financial strain from upkeep costs. This reinforces the strength of the labor movement in the region and supports community improvement efforts, fostering a sense of solidarity and collaboration among members and organizations. Overall, the impact of Forty Four Corporation extends beyond building operations; it reinforces the foundation for advocacy and community development in Toledo.
This information is meant to be a general summary of Forty Four Corporation. 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: $867,151
- Gross Receipts: $882,151
Assets and Liabilities:
- Total Assets: $76,543
- Total Liabilities: $239,670
- Net Assets: -$163,127
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REIMBURSED EXPENSES FR
Revenue
$718,377
RENT
Revenue
$148,774
Organization Details
Founding Year
1953
Phone
(419) 243-8800Principal Officer
Mark Schmiehausen
Main Address
435 S HAWLEY ST, TOLEDO, OH, 43609
NTEE Category
Code: S47 - Community improvement
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