Overview
What is Rho Chapter National Housing Inc?
Rho Chapter National Housing Inc. is a nonprofit organization, established specifically for holding title to property and managing related income. The entity's sole purpose is to collect rental income from this property and subsequently transfer the entire amount, after deducting expenses, to its sole member, National Housing of Phi Kappa Sigma International Fraternity Inc. This nonprofit organization, with tax-exempt status under Internal Revenue Code Section 501(c)(7), operates out of a location in Chicago, Illinois.
Is Rho Chapter National Housing Inc legitimate?
Rho Chapter National Housing Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Rho Chapter National Housing 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 Rho Chapter National Housing Inc?
Rho Chapter National Housing Inc is established with a specific purpose. Its primary objective is to own properties and generate income from them. The organization then transfers the income, after deducting expenses, to its sole member, National Housing of Phi Kappa Sigma International Fraternity Inc., a non-profit organization exempt from federal income tax under Section 501(c)(7) of the Internal Revenue Code. In essence, Rho Chapter National Housing Inc serves as a financial intermediary, channeling income from property ownership to its affiliated organization. It does not have a traditional mission statement focused on social causes or community development, but rather, its purpose is centered around property management and income distribution.
Who is the CEO of Rho Chapter National Housing Inc?
James Fulmer is the President of Rho Chapter National Housing Inc.
What is the revenue of Rho Chapter National Housing Inc?
Rho Chapter National Housing Inc's revenue in 2022 was $230,646.
Who are the executives of Rho Chapter National Housing Inc 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 Rho Chapter National Housing Inc?
Rho Chapter National Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rho Chapter National Housing Inc
Rho Chapter National Housing Inc is a non-profit organization with a specific purpose. Its primary role is to hold title to property and generate income from it. This income is then used to cover expenses, with the remaining amount being transferred in full to its sole member, National Housing of Phi Kappa Sigma International Fraternity Inc. This latter organization is also a non-profit corporation, exempt from federal income tax under Internal Revenue Code Section 501 (C)(7). In essence, Rho Chapter National Housing Inc acts as a financial intermediary, managing assets and income on behalf of its affiliated fraternity.
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Impact
October, 2024
Rho Chapter National Housing Inc has a significant impact by facilitating the organization and management of housing resources for its members. By holding title to property and managing income generated from these assets, it ensures that financial benefits are maximized. This structure allows for improved housing quality and accessibility for members of the Phi Kappa Sigma International Fraternity. Ultimately, the organization plays a vital role in enhancing the living conditions and overall experience of fraternity members, fostering a sense of community and belonging. Its operations can contribute to the long-term financial health of the fraternity, enabling further investments in member programs and activities.
This information is meant to be a general summary of Rho Chapter National Housing 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: $230,646
- Gross Receipts: $230,646
Assets and Liabilities:
- Total Assets: $555,016
- Total Liabilities: $594,626
- Net Assets: -$39,610
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$230,646
Organization Details
Phone
(847) 477-2075Principal Officer
James Fulmer
Main Address
644 WEST ARLINGTON PLACE UNIT 1B, CHICAGO, IL, 60614
NTEE Category
Code: Z99 - Unknown
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