Overview
What is Cifc 120 Main Holding Corp?
Cifc 120 Main Holding Corp is a 501(C)(2) nonprofit organization situated in Danbury, Connecticut. Its primary objective is to manage a property, generate income from it, and subsequently transfer the entire income, after accounting for expenses, to Connecticut Institute for Communities, Inc., a tax-exempt charity under IRC Section 501(A). The nonprofit's role is primarily focused on property ownership and income redistribution to benefit the aforementioned institution.
Is Cifc 120 Main Holding Corp legitimate?
Cifc 120 Main Holding Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. Cifc 120 Main Holding Corp 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 Cifc 120 Main Holding Corp?
Cifc 120 Main Holding Corp, as a 501(C)(2) nonprofit organization, is primarily established to serve a specific purpose. Its mission involves holding title to property and generating income from this property. After deducting expenses, the entire income is then transferred to Connecticut Institute for Communities, Inc., an organization exempt from income tax under IRC Section 501(A). This transfer of income aims to support the work of the Connecticut Institute for Communities, Inc. in its charitable activities. The primary role of Cifc 120 Main Holding Corp is to act as a financial conduit, channeling funds from its income-generating activities to the Connecticut Institute for Communities, Inc. for its charitable endeavors.
Who is the CEO of Cifc 120 Main Holding Corp?
Katherine Curran is the Board Chair of Cifc 120 Main Holding Corp. The CEO's salary of Cifc 120 Main Holding Corp is $0 and their total compensation is $90,194.
What is the revenue of Cifc 120 Main Holding Corp?
Cifc 120 Main Holding Corp's revenue in 2022 was $180,007.
Who are the executives of Cifc 120 Main Holding Corp and what are their salaries?
Here are 5 key members and their salaries (Cifc 120 Main Holding Corp's CEO's salary is $0 and their total compensation is $90,194):
- Compensation: $0
- Related: $188,722
- Other: $6,683
- Compensation: $0
- Related: $98,017
- Other: $3,865
- Compensation: $0
- Related: $90,194
- Other: $0
- Compensation: $0
- Related: $56,299
- Other: $12,502
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Cifc 120 Main Holding Corp?
Cifc 120 Main Holding Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cifc 120 Main Holding Corp
Cifc 120 Main Holding Corp, as a 501(C)(2) nonprofit organization, is primarily established with a singular objective. This organization holds the title to property and collects income derived from this property. The entire income, after deducting expenses, is then transferred to the Connecticut Institute for Communities, Inc., an organization recognized as exempt from income tax under IRC Section 501(A). In essence, Cifc 120 Main Holding Corp serves as a financial intermediary, channeling income from its property holdings to support the work of the Connecticut Institute for Communities, Inc. This mission is crucial in enabling the Connecticut Institute for Communities, Inc. to continue its operations and fulfill its mission, as a tax-exempt organization, in serving the community.
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Impact
October, 2024
Cifc 120 Main Holding Corp plays a significant role in community development by managing real estate assets and generating income that supports the Connecticut Institute for Communities, Inc. By collecting income from property holdings, the organization facilitates financial contributions to support various community-focused initiatives. This flow of resources helps fund programs that contribute to the social and economic betterment of the Danbury area and beyond. Additionally, the focus on sustaining property assets ensures ongoing investment in the community, helping to stabilize and enhance local infrastructure and services. The cyclical nature of income generation and distribution promotes sustainable growth, ultimately benefiting residents and local organizations.
This information is meant to be a general summary of Cifc 120 Main Holding 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 2022.
- Investment Income: $7
- Program Service Revenue: $180,000
- Gross Receipts: $180,007
Assets and Liabilities:
- Total Assets: $18,356,621
- Total Liabilities: $9,234,099
- Net Assets: $9,122,522
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income-NMTC Proper
Revenue
$180,000
Organization Details
Founding Year
2011
Phone
(203) 743-9760Principal Officer
Katherine Curran
Main Address
120 Main Street 4th Floor, DANBURY, CT, 06810
NTEE Category
Code: S47 - Community improvement
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