Overview
What is 478 Building Corporation Inc?
478 Building Corporation Inc is a nonprofit organization based in New Orleans, Louisiana, with a specific mission. They primarily serve as a title holder for Union property, collecting income from this property and subsequently transferring the proceeds, minus expenses, to another exempt organization under Section 501(C). The primary objective of this corporation is to support Local 478 by maintaining a building that enables them to carry out their exempt purposes effectively.
Is 478 Building Corporation Inc legitimate?
478 Building Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. 478 Building Corporation 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
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What is the mission statement of 478 Building Corporation Inc?
The 478 Building Corporation Inc's primary purpose is to manage a property, generating income from it. This income, after deducting expenses, is then transferred to an organization that qualifies for tax-exempt status under Section 501(C). The corporation's mission is specifically to hold title to and maintain a building for Local 478, enabling them to carry out their exempt purposes effectively. This role is carried out by the Building Fund - Administrative Service, which manages the property on behalf of the corporation.
Who is the CEO of 478 Building Corporation Inc?
Phil S Locicero is the Board Of Directors of 478 Building Corporation Inc.
What is the revenue of 478 Building Corporation Inc?
478 Building Corporation Inc's revenue in 2022 was $42,097.
Who are the executives of 478 Building Corporation Inc and what are their salaries?
Here are 10 key members and their salaries:
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- Related: $5,497
- Other: $155
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- Other: $0
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- Related: $40,738
- Other: $15,928
- Compensation: $0
- Related: $107,532
- Other: $36,168
- Compensation: $0
- Related: $81,497
- Other: $34,196
Where can I find the form 990 for 478 Building Corporation Inc?
478 Building Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 478 Building Corporation Inc
478 Building Corporation Inc, as a title-holding organization, is committed to supporting another exempt entity under Section 501(C). Its primary mission is to maintain a building that belongs to Local 478, enabling the latter to pursue its own charitable objectives. By managing the property and collecting income from it, 478 Building Corporation Inc effectively serves as a financial backbone for Local 478, providing it with the necessary resources to fulfill its exempt purposes. The organization, thus, plays a crucial role in facilitating the work of Local 478, ensuring that it has a suitable space to carry out its charitable activities. This administrative service, known as the Building Fund, holds title to the union property, effectively managing its resources for the betterment of the exempt organization it serves.
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Impact
October, 2024
478 Building Corporation Inc plays a significant role in supporting community improvement efforts in New Orleans, Louisiana. By holding title to property and managing building assets, the organization ensures that a vital space is available for Local 478 to operate effectively. This stewardship allows Local 478 to focus on its mission, leveraging the asset to further its exempt purposes.
The infrastructure maintained by 478 Building Corporation Inc is crucial for facilitating activities that benefit the local community, promoting engagement, and offering services that enhance the quality of life for residents. Through its administrative services, the corporation not only collects income from the property but also reinvests those resources into the community, fostering growth and stability. Overall, its impact is a vital component in strengthening local initiatives and supporting organizational missions within the area.
This information is meant to be a general summary of 478 Building Corporation 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: $97
- Program Service Revenue: $42,000
- Gross Receipts: $42,097
Assets and Liabilities:
- Total Assets: $3,155,447
- Total Liabilities: $0
- Net Assets: $3,155,447
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL OF BUILDING
Revenue
$42,000
Organization Details
Founding Year
2014
Phone
(504) 486-2192Principal Officer
Phil S Locicero
Main Address
511 N HENNESSEY ST, NEW ORLEANS, LA, 70119
NTEE Category
Code: S47 - Community improvement
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