Overview
What is Charitable Leasing Corporation Attn Mark F Hearne Ii?
Charitable Leasing Corporation Attn Mark F Hearne II is a nonprofit organization based in Grand Rapids, Michigan. Their primary objective is to manage real estate properties, collecting income from rentals and transferring the net earnings, after deducting expenses, to another charitable organization that falls under section 501(c)(3) of the Internal Revenue Code. This corporation serves as a resource center for such related-party private foundations, contributing to their financial sustainability.
Is Charitable Leasing Corporation Attn Mark F Hearne Ii legitimate?
Charitable Leasing Corporation Attn Mark F Hearne Ii is a legitimate nonprofit organization registered as a 501(c)(2) entity. Charitable Leasing Corporation Attn Mark F Hearne Ii 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 Charitable Leasing Corporation Attn Mark F Hearne Ii?
Charitable Leasing Corporation is established with a singular purpose: to hold title to property and collect income derived from it. The corporation then proceeds to transfer the entire income, after deducting expenses, to an organization that is exempt under section 501(c)(3) of the Internal Revenue Code. The primary role of Charitable Leasing Corporation is to facilitate the flow of funds to eligible charitable organizations, thereby supporting their initiatives and missions. The corporation upholds this mission by acting as a reliable intermediary, ensuring that the intended funds reach their intended beneficiaries. Additionally, Charitable Leasing Corporation maintains a resource center for research purposes related to its private foundation clients.
Who is the CEO of Charitable Leasing Corporation Attn Mark F Hearne Ii?
Mark F Hearne Ii is the Manager of Charitable Leasing Corporation Attn Mark F Hearne Ii.
What is the revenue of Charitable Leasing Corporation Attn Mark F Hearne Ii?
Charitable Leasing Corporation Attn Mark F Hearne Ii's revenue in 2022 was $0.
Who are the executives of Charitable Leasing Corporation Attn Mark F Hearne Ii and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Charitable Leasing Corporation Attn Mark F Hearne Ii?
Charitable Leasing Corporation Attn Mark F Hearne Ii's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Charitable Leasing Corporation Attn Mark F Hearne Ii
Charitable Leasing Corporation Attn Mark F Hearne II is an organization with a unique mission. Its primary purpose is to hold title to property, collect income generated from these properties, and then transfer the entire net income, after deducting expenses, to another organization that is exempt under section 501(c)(3) of the Internal Revenue Code. This structure allows Charitable Leasing Corporation Attn Mark F Hearne II to act as a financial intermediary, supporting other charitable organizations by providing them with a steady income stream. By fulfilling this role, the corporation serves as a vital resource for related private foundations, contributing to their research and overall mission.
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Impact
October, 2024
Charitable Leasing Corporation, led by Mark F. Hearne II, plays a significant role in facilitating property-related financial support for organizations that qualify under 501(c)(3). By holding title to various properties and managing the associated income, the corporation optimizes resource allocation for charitable initiatives. This structured approach allows for the efficient collection and redistribution of funds to support nonprofit operations, ultimately amplifying their capacity to serve the community.
The organization serves as a resource center, enhancing research capabilities for related private foundations, which fosters collaboration and informed decision-making in the nonprofit sector. Their mission underscores a commitment to community improvement, ensuring that the entire income generated, after covering necessary expenses, is dedicated to furthering charitable work. Through these actions, Charitable Leasing Corporation makes a meaningful impact on the viability and growth of charitable organizations, contributing to the overall enhancement of community welfare in Grand Rapids, MI, and beyond.
This information is meant to be a general summary of Charitable Leasing Corporation Attn Mark F Hearne Ii. 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.
Assets and Liabilities:
- Total Assets: $1,194,697
- Total Liabilities: $55,305
- Net Assets: $1,139,392
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Organization Details
Founding Year
1997
Phone
(616) 774-8121Principal Officer
Mark F Hearne Ii
Main Address
80 OTTAWA AVENUE NW SUITE 301, GRAND RAPIDS, MI, 495032217
NTEE Category
Code: S47 - Community improvement
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