Overview
What is Mbi Real Estate?
Mbi Real Estate is a nonprofit organization situated in Hudson, Ohio, with an address at 10 West Streetsboro, 44236. Its primary mission is to hold title to property and real estate interests, generating income from these holdings. The collected income, after deducting expenses, is then transferred to its parent organization, the Margaret Clark Morgan Foundation. In essence, Mbi Real Estate serves as a property custodian, contributing financially to its parent organization.
Is Mbi Real Estate legitimate?
Mbi Real Estate is a legitimate nonprofit organization registered as a 501(c)(2) entity. Mbi Real Estate 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 Mbi Real Estate?
Mbi Real Estate's primary function is to act as a title holder for various properties and real estate interests. Its main objective is to generate income from these assets and subsequently transfer the earnings, after deducting expenses, to its parent organization, the Margaret Clark Morgan Foundation. In essence, Mbi Real Estate serves as a financial intermediary, channeling funds from its real estate ventures to its parent organization.
Who is the CEO of Mbi Real Estate?
Rick Kellar is the President of Mbi Real Estate.
What is the revenue of Mbi Real Estate?
Mbi Real Estate's revenue in 2022 was $975,058.
Who are the executives of Mbi Real Estate and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $313,615
- Other: $41,223
- Compensation: $0
- Related: $28,000
- Other: $0
- Compensation: $0
- Related: $28,000
- Other: $0
Where can I find the form 990 for Mbi Real Estate?
Mbi Real Estate's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mbi Real Estate
Mbi Real Estate, as a non-profit entity, was established with a singular mission. Its primary objective is to serve as a title holder for properties and real estate interests, generating income from these assets. This income is then meticulously managed, with the remaining amount, after deducting expenses, being transferred to its parent organization, the Margaret Clark Morgan Foundation. Essentially, Mbi Real Estate's role is to manage and monetize its real estate holdings, contributing to its parent organization's financial resources.
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Impact
October, 2024
Mbi Real Estate plays a significant role in the community by effectively managing and holding real estate assets that generate income for further developmental initiatives. By focusing on the exclusive purpose of maintaining property and interests, Mbi Real Estate ensures that resources are optimized and strategically utilized. The income generated is reinvested back into the community through its parent organization, the Margaret Clark Morgan Foundation. This approach not only enhances the value of the real estate portfolio but also fosters community improvement through funding various initiatives. By prioritizing responsible property management and income redistribution, Mbi Real Estate contributes to the economic vitality of Hudson, OH, thereby creating a positive impact on local residents and fostering sustainable growth in the area.
This information is meant to be a general summary of Mbi Real Estate. 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.
- Investment Income: $1,091,194
- Gross Receipts: $5,521,613
Assets and Liabilities:
- Total Assets: $7,240,288
- Total Liabilities: $368,094
- Net Assets: $6,872,194
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Organization Details
Founding Year
2007
Phone
(330) 655-1366Principal Officer
Rick Kellar
Main Address
10 W STREETSBORO 200, HUDSON, OH, 44236
NTEE Category
Code: S50 - Community improvement
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