Overview
What is Parkridge Avenue 517 Corp?
Parkridge Avenue 517 Corp is a nonprofit organization established with the primary goal of acquiring and developing property in Norco, California. Once the property is developed, the income generated is intended to be collected and distributed to its shareholder, which is a pension plan. This corporation's mission aligns with real estate development and income redistribution, aimed at benefiting its pension plan shareholder.
Is Parkridge Avenue 517 Corp legitimate?
Parkridge Avenue 517 Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. Parkridge Avenue 517 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.
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What is the mission statement of Parkridge Avenue 517 Corp?
Parkridge Avenue 517 Corp was established with the mission to acquire and develop property in a specific location, which is Norco, CA. Upon completing the development of the property, the corporation's primary objective is to collect income and subsequently remit it to its shareholder, which is a pension plan. This pension plan serves as the ultimate beneficiary of the income generated from the developed property.
Who is the CEO of Parkridge Avenue 517 Corp?
Victor Kwok is the President/Chairman of Parkridge Avenue 517 Corp.
What is the revenue of Parkridge Avenue 517 Corp?
Parkridge Avenue 517 Corp's revenue in 2022 was $1,156,274.
Who are the executives of Parkridge Avenue 517 Corp and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Parkridge Avenue 517 Corp?
Parkridge Avenue 517 Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Parkridge Avenue 517 Corp
Parkridge Avenue 517 Corp, as a corporation, was established with a specific purpose. Its mission is centered around the acquisition and development of property, with a focus in Norco, California. Once the property has been developed, the corporation's role transitions to collecting and remitting income to its shareholder, which is a pension plan. This pension plan serves as the ultimate beneficiary of the corporation's property-related endeavors. In essence, Parkridge Avenue 517 Corp functions as a vehicle to generate income for its pension plan shareholder through property development activities in Norco.
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Impact
October, 2024
Parkridge Avenue 517 Corp plays a significant role in the community development of Norco, CA, by focusing on the acquisition and development of property in the area. This initiative not only enhances local infrastructure and real estate but also aims to generate income that supports a pension plan, thereby benefiting its shareholders. The development activities contribute to community improvement, creating opportunities for economic growth, enhancing the livability of the area, and potentially attracting new residents and businesses. The organization’s efforts align with broader goals of community revitalization and economic stability, making a lasting impact on Norco's landscape and its residents’ quality of life.
This information is meant to be a general summary of Parkridge Avenue 517 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: $17
- Gross Receipts: $1,591,245
Assets and Liabilities:
- Total Assets: $17,749,853
- Total Liabilities: $142,404
- Net Assets: $17,607,449
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Organization Details
Founding Year
2013
Phone
(650) 343-6333Principal Officer
Victor Kwok
Main Address
2025 PIONEER CT, SAN MATEO, CA, 94403
NTEE Category
Code: S47 - Community improvement
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