Overview
What is Midnight Sun Inc?
Midnight Sun Inc is a corporation based in Hartford, Connecticut, primarily focused on acquiring and holding title to real property. The company collects income generated from these properties and subsequently remits the entire amount, less expenses, to organizations categorized under Section 501(C)(25) of the Internal Revenue Code. These organizations serve as its shareholders. This structure enables Midnight Sun Inc to contribute financially to the operations and initiatives of these nonprofit entities.
Is Midnight Sun Inc legitimate?
Midnight Sun Inc is a legitimate nonprofit organization registered as a 501(c)(25) entity. Midnight Sun 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
For more financial information, click here
What is the mission statement of Midnight Sun Inc?
Midnight Sun Inc, as a corporation, is established with the primary objective of acquiring and holding title to real property. The primary source of income for the corporation comes from this real estate. Significantly, the entire income collected, after deducting expenses, is remitted to one or more organizations categorized under IRC Section 501(C)(25). These organizations serve as the shareholders of Midnight Sun Inc.
Who is the CEO of Midnight Sun Inc?
James B Mccandless is the Director of Midnight Sun Inc.
What is the revenue of Midnight Sun Inc?
Midnight Sun Inc's revenue in 2022 was $6,450,767.
Who are the executives of Midnight Sun Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Midnight Sun Inc?
Midnight Sun Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Midnight Sun Inc
Midnight Sun Inc, as per its mission, is primarily established with the objective of acquiring and holding title to real property. The corporation derives income from this property and subsequently remits the entire amount, after deducting expenses, to organizations classified under the Internal Revenue Code Section 501(C)(25). These organizations serve as the shareholders of Midnight Sun Inc. In simpler terms, Midnight Sun Inc invests in real estate and distributes the profits to eligible nonprofit organizations, acting as a means of financial support and growth for these organizations.
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
Midnight Sun Inc has a significant impact through its focused efforts in real estate management and income generation. By acquiring and holding title to real property, the organization effectively contributes to the stability and enhancement of the local community in Hartford, CT. The income generated from these properties not only ensures sustainable financial returns but also supports numerous organizations that operate within the framework of the Internal Revenue Code Section 501(c)(25), which are its shareholders.
Through its activities, Midnight Sun Inc plays a pivotal role in community improvement by utilizing the resources acquired from real estate to benefit other entities dedicated to various missions. This cyclical flow of income allows for reinvestment in community initiatives, fostering growth, and supporting social causes. The organization’s structured approach to property management ensures that every dollar earned, minus expenses, is allocated to further meaningful projects, thereby amplifying its positive impact on the community it serves.
This information is meant to be a general summary of Midnight Sun 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.
- Program Service Revenue: $6,450,767
- Gross Receipts: $6,450,767
Assets and Liabilities:
- Total Assets: $168,353,471
- Total Liabilities: $1,022,256
- Net Assets: $167,331,215
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$6,450,767
Organization Details
Founding Year
2008
Phone
(860) 616-9200Principal Officer
James B Mccandless
Main Address
10 STATE HOUSE SQUARE 15TH FLOOR, Hartford, CT, 061033604
NTEE Category
Code: S47 - Community improvement
If you are a representative of Midnight Sun 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.