Overview
What is American Legion Memorial Home Corp?
The American Legion Memorial Home Corp is a nonprofit organization that serves a unique role in maintaining the property belonging to an American Legion Post. Its primary function is to hold the title to this property, collect rental income from leasing out commercial buildings, and utilize these funds to ensure the property's upkeep. By doing so, the organization supports the American Legion Post in maintaining its operational base.
Is American Legion Memorial Home Corp legitimate?
American Legion Memorial Home Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. American Legion Memorial Home Corp submitted a form 990EZ, 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.
What is the mission statement of American Legion Memorial Home Corp?
The American Legion Memorial Home Corp was established with a specific purpose: to manage and maintain the property belonging to an American Legion Post. This is achieved by leasing the property to the Post and utilizing the rental income to cover the necessary upkeep expenses. The organization's primary focus lies in ensuring the property remains in good condition, ultimately benefiting the American Legion Post and its activities.
Who is the CEO of American Legion Memorial Home Corp?
Michael E Walton is the President of American Legion Memorial Home Corp.
What is the revenue of American Legion Memorial Home Corp?
American Legion Memorial Home Corp's revenue in 2023 was $118,883.
Who are the executives of American Legion Memorial Home Corp and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990EZ for American Legion Memorial Home Corp?
American Legion Memorial Home Corp's most recent form 990EZ was submitted in 2023 and can be accessed here.
Mission Statement of American Legion Memorial Home Corp
The American Legion Memorial Home Corp is a nonprofit organization with a specific mission. Established with the sole purpose of managing a Post property, this organization's primary role is to collect rent generated from the property and allocate it towards maintaining its upkeep. The organization fulfills this mission by leasing a commercial building to the American Legion Post. This arrangement ensures the financial sustainability of the property while providing a suitable space for the Post's activities. The American Legion Memorial Home Corp, therefore, serves as a critical facilitator, enabling the American Legion Post to operate effectively while ensuring the long-term preservation of its property.
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Impact
October, 2024
The American Legion Memorial Home Corp significantly contributes to the community by maintaining the American Legion Post property in Springfield, IL. By holding the title to the property and collecting rent, it ensures continued support for the Post, which serves as a vital gathering space for veterans and their families. The funds generated through rent are dedicated to the upkeep of the property, ensuring that it remains a reliable venue for community events and activities. This commitment to the maintenance and improvement of the space fosters a sense of community, enhances local engagement, and supports the needs of veterans, thereby reinforcing the bonds among those who have served.
This information is meant to be a general summary of American Legion Memorial Home Corp. 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: $100,995
- Gross Receipts: $118,883
Assets and Liabilities:
- Total Assets: $450,916
- Total Liabilities: $292,045
- Net Assets: $158,871
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Organization Details
Phone
(217) 523-3415Principal Officer
Michael E Walton
Main Address
1120 Sangamon Ave, Springfield, IL, 62702
NTEE Category
Code: S47 - Community improvement
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