Overview
What is Fedc Nmtc Llc?
Fedc Nmtc Llc is a nonprofit organization headquartered in Chicago, Illinois (60637). Their primary mission involves acquiring real property, holding the title, and collecting income from it. They are unique as they remit the entire amount gathered to their two charitable owners, both of which are recognized under IRC Section 501(C)(3). Their operations revolve around real estate management and income distribution to their nonprofit partners.
Is Fedc Nmtc Llc legitimate?
Fedc Nmtc Llc is a legitimate nonprofit organization registered as a 501(c)(25) entity. Fedc Nmtc Llc 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 Fedc Nmtc Llc?
The Fedc Nmtc Llc is involved in the acquisition, holding of title, and collection of income from real property. The entire income generated from these activities is remitted to its two owners, both of whom are recognized as IRC Section 501(C)(3) organizations. This entity functions as a conduit, facilitating the financial growth of these charitable organizations by managing real estate holdings and distributing the resulting revenues to them. The mission of Fedc Nmtc Llc can be understood as providing a means for the growth and sustainability of its charitable owners through real estate transactions.
Who is the CEO of Fedc Nmtc Llc?
Janet Hoffman is the President & Member of Fedc Nmtc Llc.
What is the revenue of Fedc Nmtc Llc?
Fedc Nmtc Llc's revenue in 2020 was $23,228,536.
Who are the executives of Fedc Nmtc Llc and what are their salaries?
Here are 3 key members and their salaries:
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Where can I find the form 990 for Fedc Nmtc Llc?
Fedc Nmtc Llc's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Fedc Nmtc Llc
Fedc Nmtc Llc, a unique entity, is dedicated to acquiring, holding title, and collecting income from real property. This entity's primary mission is to remit the entire amount it earns to its two owners, both of whom are recognized as IRC Section 501(C)(3) organizations. In simpler terms, Fedc Nmtc Llc serves as a real estate holding company, passing on all income generated from the sale and rental of properties directly to its nonprofit owners. This financial arrangement allows the owners to expand their resources and further advance their respective missions. The income generated from the real estate holdings can be utilized by the nonprofit organizations to support their causes, provide essential services, and carry out their respective activities. Fedc Nmtc Llc's role is crucial in facilitating the growth and sustainability of its nonprofit partners by managing their real estate assets effectively.
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Impact
October, 2024
Fedc Nmtc LLC plays a significant role in community improvement through its activities focused on real estate. By acquiring and holding title to real property, the organization ensures that these assets can generate income, which directly benefits its two owners, both of which are 501(c)(3) organizations. This structure allows for the efficient collection and distribution of resources, enabling the owners to fund their charitable missions effectively.
The income generated from the real estate can be utilized for various community-focused initiatives, ultimately contributing to local development and enhancement of services. This approach supports sustainable growth and supports organizations that are likely to address pressing community needs, thus creating a positive impact within the Chicago area.
This information is meant to be a general summary of Fedc Nmtc Llc. 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 2020.
- Investment Income: $23,184,391
- Gross Receipts: $23,228,536
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
2010
Phone
(773) 420-2883Principal Officer
Janet Hoffman
Main Address
6254 S ELLIS AVENUE, CHICAGO, IL, 60637
NTEE Category
Code: S470 - Community improvement
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