Overview
What is Palm Beach Industrial Park Ii Inc?
Palm Beach Industrial Park II Inc is a nonprofit organization based in North Palm Beach, Florida. Its primary function is to manage a rental property, collecting rents and covering necessary expenses. The organization then transfers the excess funds to the Adenbaum Foundation, adhering to the donation intent of the foundation. As of the end of 2022, the organization had remitted $398,708 to the Adenbaum Foundation from the 2022 rental profits, and an additional $18,190 from the previous year. With a team of three employees, Palm Beach Industrial Park II Inc serves as a financial conduit for the Adenbaum Foundation.
Is Palm Beach Industrial Park Ii Inc legitimate?
Palm Beach Industrial Park Ii Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Palm Beach Industrial Park Ii 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: $170,802
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Palm Beach Industrial Park Ii Inc?
Palm Beach Industrial Park II Inc's primary mission revolves around holding title to real property and generating profits from rental activities. This organization then channels these profits to its parent exempt organization, the Leo, Claire & Robert Adenbaum Foundation. The main objective is to support the Adenbaum Foundation's donation intentions by transferring the excess rental income annually. As of the end of 2022, the organization had remitted $398,708 in profits to the foundation, with an additional $18,190 from the previous year's income also transferred during the current tax year.
Who is the CEO of Palm Beach Industrial Park Ii Inc?
Gerhard Jakits is the President of Palm Beach Industrial Park Ii Inc.
What is the revenue of Palm Beach Industrial Park Ii Inc?
Palm Beach Industrial Park Ii Inc's revenue in 2022 was $711,767.
Who are the executives of Palm Beach Industrial Park Ii Inc and what are their salaries?
The average compensation at Palm Beach Industrial Park Ii Inc during 2022 was $56,934. There are 3 employees at Palm Beach Industrial Park Ii Inc.
Here are 3 key members and their salaries:
- Compensation: $56,934
- Related: $122,651
- Other: $27,000
- Compensation: $56,934
- Related: $122,651
- Other: $27,000
- Compensation: $56,934
- Related: $0
- Other: $0
Where can I find the form 990 for Palm Beach Industrial Park Ii Inc?
Palm Beach Industrial Park Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Palm Beach Industrial Park Ii Inc
Palm Beach Industrial Park II Inc, as a nonprofit organization, is primarily dedicated to holding title to real property and generating rental income. This income is then channeled towards its parent exempt organization, the Leo, Claire & Robert Adenbaum Foundation. The organization's primary role is to manage the rental property effectively, covering ordinary and necessary expenses. The remaining profits are then transferred to the Adenbaum Foundation, helping it fulfill its donation intentions.
In simpler terms, Palm Beach Industrial Park II Inc acts as a property manager, ensuring that the rental property is in good condition and tenants are satisfied. The organization's main objective is not to make a profit for itself but to support the Adenbaum Foundation by providing a steady stream of income. This income is essential for the foundation's operations and helps it carry out its charitable activities. In the fiscal year ending December 31, 2022, Palm Beach Industrial Park II Inc collected $398,708 in net rents and remitted the entire amount to the Adenbaum Foundation.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Palm Beach Industrial Park II Inc plays a significant role in the economic and philanthropic landscape of North Palm Beach, Florida. By holding title to real property and managing rental activities, the organization generates considerable revenue, which is subsequently remitted to the Leo, Claire & Robert Adenbaum Foundation. In 2022 alone, net rental profits amounted to $398,708, showcasing the organization's ability to effectively manage its properties and optimize rental income.
The funds collected facilitate the operational activities of the Adenbaum Foundation, which is committed to various charitable endeavors. This relationship ensures a steady flow of resources into philanthropic projects, impacting community welfare and addressing various socio-economic issues. The strategy employed by Palm Beach Industrial Park II Inc not only sustains the foundation's mission but also contributes to the overall economic vitality of the region, as the managed properties likely support local businesses and employment opportunities.
Overall, the impact of Palm Beach Industrial Park II Inc extends beyond property management; it empowers the Adenbaum Foundation’s charitable activities, enriching the community through sustained financial support for philanthropy.
This information is meant to be a general summary of Palm Beach Industrial Park Ii 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 2022.
- Investment Income: $116
- Gross Receipts: $1,015,373
Assets and Liabilities:
- Total Assets: $3,665,731
- Total Liabilities: $101,711
- Net Assets: $3,564,020
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2013
Principal Officer
Gerhard Jakits
Main Address
PO BOX 14486, NORTH PALM BEACH, FL, 33408
NTEE Category
Code: T12 - Philanthropy
If you are a representative of Palm Beach Industrial Park Ii Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.