Overview
What is 1100 Central Avenue Corporation?
1100 Central Avenue Corporation is a nonprofit organization situated in Sarasota, Florida. Its primary role is to manage and hold title to real estate properties, generating income from these properties. The organization then distributes the majority of the income, after deducting expenses, to The Pines of Sarasota Healthcare, LLC, a charitable organization under Section 501(C)(3) of the Internal Revenue Code. This partnership ensures the allocation of resources for philanthropic purposes, contributing to the well-being of the community in Sarasota.
Is 1100 Central Avenue Corporation legitimate?
1100 Central Avenue Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. 1100 Central Avenue Corporation 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 1100 Central Avenue Corporation?
The 1100 Central Avenue Corporation is established with a specific purpose. It organizes and operates to own real property and collect income from it. The primary goal is to then distribute the entire income, less expenses, to The Pines of Sarasota Healthcare, LLC, a non-profit organization under Section 501(c)(3) of the Internal Revenue Code. This structure allows the corporation to support the mission of The Pines of Sarasota Healthcare, LLC, without having a stated mission of its own in this context.
Who is the CEO of 1100 Central Avenue Corporation?
Michael R Pender Jr is the Chair of 1100 Central Avenue Corporation.
What is the revenue of 1100 Central Avenue Corporation?
1100 Central Avenue Corporation's revenue in 2022 was $1,935,023.
Who are the executives of 1100 Central Avenue Corporation and what are their salaries?
There 3 volunteers at 1100 Central Avenue Corporation.
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 1100 Central Avenue Corporation?
1100 Central Avenue Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 1100 Central Avenue Corporation
1100 Central Avenue Corporation is an organization with a unique mission. It is structured and operates with the primary objective of holding title to real property and collecting income from it. The organization's main purpose is to then distribute the entire income, less expenses, to The Pines of Sarasota Healthcare, LLC, a nonprofit entity under Section 501(C)(3) of the Internal Revenue Code. Essentially, 1100 Central Avenue Corporation serves as a financial intermediary, channeling income derived from real estate holdings to another charitable organization. This partnership allows for the allocation of resources to support a broader social cause, in this case, provided by The Pines of Sarasota Healthcare, LLC.
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Impact
October, 2024
1100 Central Avenue Corporation plays a crucial role in supporting community healthcare initiatives through its financial operations. By holding title to real property and generating income from it, the organization ensures that the proceeds are directed to The Pines of Sarasota Healthcare, LLC. This structure not only stabilizes funding for healthcare services but also enhances the overall quality of care provided to the community.
Located in Sarasota, Florida, the organization contributes to community improvement by effectively managing assets that directly benefit healthcare programs. Its focus on distributing income—after covering necessary expenses—demonstrates a commitment to maximizing resources for the betterment of local health services, ultimately fostering a healthier community.
This information is meant to be a general summary of 1100 Central Avenue Corporation. 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: $170,267
- Gross Receipts: $1,935,023
Assets and Liabilities:
- Total Assets: $2,349,132
- Total Liabilities: $0
- Net Assets: $2,349,132
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT FROM AFFILIATED E
Revenue
$170,267
Organization Details
Founding Year
2012
Phone
(941) 365-0250Principal Officer
Michael R Pender Jr
Main Address
1501 N ORANGE AVENUE, SARASOTA, FL, 34236
NTEE Category
Code: S47 - Community improvement
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