Overview
What is Lake Park Associates Inc?
Lake Park Associates Inc, based in Chicago, Illinois, is a nonprofit organization that plays a crucial role in supporting The University of Chicago. Their primary function involves acquiring, selling, holding, managing, and leasing real estate properties with the intention of benefiting the prestigious university. The organization's activities are geared towards managing real property, which contributes to the overall operations and growth of The University of Chicago.
Is Lake Park Associates Inc legitimate?
Lake Park Associates Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Lake Park Associates Inc 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 Lake Park Associates Inc?
Lake Park Associates Inc, as a entity, is primarily focused on serving The University of Chicago. Their activities encompass the acquisition, sale, management, and leasing of real estate properties, all with the aim of benefiting the university. Essentially, their mission is to utilize real estate resources for the betterment of The University of Chicago. They incur expenses associated with managing these properties to ensure they serve their intended purpose efficiently.
What is the revenue of Lake Park Associates Inc?
Lake Park Associates Inc's revenue in 2023 was $9,188,613.
Who are the executives of Lake Park Associates Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $1,020,317
- Other: $50,822
- Compensation: $0
- Related: $866,050
- Other: $64,464
- Compensation: $0
- Related: $717,029
- Other: $61,614
- Compensation: $0
- Related: $529,281
- Other: $39,113
- Compensation: $0
- Related: $336,850
- Other: $55,472
- Compensation: $0
- Related: $257,837
- Other: $21,993
Where can I find the form 990 for Lake Park Associates Inc?
Lake Park Associates Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lake Park Associates Inc
Lake Park Associates Inc, as a mission-driven entity, focuses on acquiring, selling, holding, managing, and leasing real property for the benefit of The University of Chicago. In essence, its role is to utilize real estate as a tool to advance the interests and objectives of this esteemed educational institution. By engaging in these activities, Lake Park Associates contributes to the University's growth, development, and overall well-being. The organization's efforts in managing real property aim to maximize its value and efficiency, ultimately contributing to The University of Chicago's success.
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Impact
October, 2024
Lake Park Associates Inc significantly impacts the University of Chicago by managing a range of real property transactions, including acquisitions, sales, and leases. This organization plays a crucial role in maintaining and enhancing the university's real estate assets, which contributes to the institution's overall development and operational capabilities. By effectively managing these properties, Lake Park Associates supports the university's mission and goals, facilitating community improvement and development around its campuses in Chicago. Through its activities, Lake Park Associates helps ensure that the University of Chicago has the necessary infrastructure to foster education, research, and community engagement, ultimately benefiting both the university and the surrounding community.
This information is meant to be a general summary of Lake Park Associates Inc. 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 2023.
- Investment Income: $5,656
- Program Service Revenue: $7,517,770
- Gross Receipts: $9,188,613
Assets and Liabilities:
- Total Assets: $81,064,507
- Total Liabilities: $2,861,608
- Net Assets: $78,202,899
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$7,517,770
Organization Details
Founding Year
1963
Principal Officer
Mary Frances Mccourt
NTEE Category
Code: S47 - Community improvement
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