Overview
What is Galaxy I Concord Corporation?
Galaxy I Concord Corporation serves as a Title Holding Company, specifically for rental real estate. Based in Los Angeles, California, its primary function is to manage properties on behalf of an exempt organization. The corporation collects rental income, covers expenses, and then transfers the remaining funds to the exempt organization. In essence, Galaxy I Concord Corporation acts as a financial intermediary, ensuring the smooth operation of the property while contributing to the exempt organization's financial goals.
Is Galaxy I Concord Corporation legitimate?
Galaxy I Concord Corporation is a legitimate nonprofit organization registered as a 501(c)(25) entity. Galaxy I Concord 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: $0
For more financial information, click here
What is the mission statement of Galaxy I Concord Corporation?
Galaxy I Concord Corporation serves as a Title Holding Company for rental real estate, maintaining ownership of properties on behalf of a tax-exempt organization. Its primary responsibilities include collecting income, managing expenses, and transferring any surplus funds to the exempt organization. While the corporation does not have a traditional mission statement as other organizations might, its role in facilitating income generation and property management for a charitable entity aligns with the broader objective of supporting the organization's charitable objectives.
Who is the CEO of Galaxy I Concord Corporation?
Scott Darling is the Chairman & Ceo, Treasurer of Galaxy I Concord Corporation. The CEO's salary of Galaxy I Concord Corporation is $0 and their total compensation is $0.
What is the revenue of Galaxy I Concord Corporation?
Galaxy I Concord Corporation's revenue in 2022 was $255,431.
Who are the executives of Galaxy I Concord Corporation and what are their salaries?
There 2 volunteers at Galaxy I Concord Corporation.
Here are 3 key members and their salaries (Galaxy I Concord Corporation's CEO's salary is $0 and their total compensation is $0):
- 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 Galaxy I Concord Corporation?
Galaxy I Concord Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Galaxy I Concord Corporation
Galaxy I Concord Corporation, as a title holding company, plays a vital role in the rental real estate sector. Its mission is to serve an exempt organization by holding title to real estate properties. This corporation is responsible for collecting income generated from these properties, managing expenses, and then submitting any surplus income to the exempt organization. Essentially, Galaxy I Concord Corporation acts as a financial intermediary, facilitating the efficient management of rental properties for its beneficiary organization.
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Impact
October, 2024
Galaxy I Concord Corporation significantly contributes to the community by managing and optimizing rental real estate, thus ensuring that essential property resources are effectively utilized for the benefit of its partner organization. Based in Los Angeles, CA, the corporation plays a crucial role in the financial ecosystem by holding title to real property, efficiently collecting rental income, and handling related expenses. This management results in the generation of excess income, which is redirected to support the initiatives of the exempt organization it serves. Through its operations, Galaxy I Concord Corporation enhances community improvement efforts, supporting local projects and services that address various societal needs. Overall, its impact lies in fostering community development and stability through responsible property management and financial stewardship.
This information is meant to be a general summary of Galaxy I Concord 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.
- Gross Receipts: $1,637,528
Assets and Liabilities:
- Total Assets: $18,600,016
- Total Liabilities: $501,000
- Net Assets: $18,099,016
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Organization Details
Founding Year
2014
Phone
(213) 233-5700Principal Officer
Scott Darling
Main Address
515 S Flower St 49th Floor, Los Angeles, CA, 90071
NTEE Category
Code: S47 - Community improvement
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