Overview
What is Westover Hills Assembly Of God Holdings?
Westover Hills Assembly of God Holdings is a nonprofit organization, specifically established with the primary objective of managing and overseeing property belonging to Westover Hills Assembly of God, a 501(c)(3) charitable entity. The holding organization generates income from this property and subsequently distributes the net earnings, after deducting any associated expenses, to Westover Hills Assembly of God. This arrangement allows the main organization to focus on its charitable mission while the holding entity ensures the effective management of its property assets.
Is Westover Hills Assembly Of God Holdings legitimate?
Westover Hills Assembly Of God Holdings is a legitimate nonprofit organization registered as a 501(c)(2) entity. Westover Hills Assembly Of God Holdings 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:
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What is the mission statement of Westover Hills Assembly Of God Holdings?
Westover Hills Assembly of God Holdings primarily exists to support Westover Hills Assembly of God, a non-profit organization. Its role involves holding the title to the organization's property and generating passive income from it. The net income, after accounting for expenses, is then distributed back to Westover Hills Assembly of God. In essence, Westover Hills Assembly of God Holdings serves as a financial entity, aiding in the financial stability and growth of Westover Hills Assembly of God.
What is the revenue of Westover Hills Assembly Of God Holdings?
Westover Hills Assembly Of God Holdings's revenue in 2023 was $1,157,976.
Who are the executives of Westover Hills Assembly Of God Holdings and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Westover Hills Assembly Of God Holdings?
Westover Hills Assembly Of God Holdings's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Westover Hills Assembly Of God Holdings
Westover Hills Assembly of God Holdings serves a unique role in supporting its affiliated non-profit organization, Westover Hills Assembly of God. The primary mission of Westover Hills Assembly of God Holdings is to maintain ownership of the property belonging to Westover Hills Assembly of God, a 501(c)(3) non-profit organization. By holding title to this property, Westover Hills Assembly of God Holdings generates passive income through rent or other means. This income is then carefully managed, with any expenses subtracted, before the remaining net income is transferred to Westover Hills Assembly of God. This financial support enables Westover Hills Assembly of God to continue its mission and activities, thereby contributing to its overall success and impact. In essence, Westover Hills Assembly of God Holdings acts as a financial steward, ensuring the long-term sustainability of Westover Hills Assembly of God.
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Impact
October, 2024
Westover Hills Assembly of God Holdings plays a significant role in supporting the activities and mission of Westover Hills Assembly of God in San Antonio, Texas. By holding title to property, the organization effectively manages assets that contribute to the church’s overall sustainability and outreach efforts. The passive income generated from these properties is crucial as it provides a steady financial resource, allowing the church to focus on its core mission of community improvement and engagement.
The net income collected enhances the church's ability to offer various programs and services that benefit the local community, ensuring that its initiatives can continue to thrive without financial strain. This arrangement not only aids in maintaining the physical space required for worship and community gatherings but also supports the broader goals of outreach, education, and social services. Consequently, Westover Hills Assembly of God Holdings fosters a strong foundation for the church to fulfill its mission, ultimately enhancing its impact on the community it serves.
This information is meant to be a general summary of Westover Hills Assembly Of God Holdings. 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 2023.
- Investment Income: $18,429
- Gross Receipts: $1,160,860
Assets and Liabilities:
- Total Assets: $16,814,406
- Total Liabilities: $8,074,974
- Net Assets: $8,739,432
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Organization Details
Founding Year
2013
Principal Officer
Rodney Haglund
NTEE Category
Code: S47 - Community improvement
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