Overview
What is Fox Valley & Vicinity Laborers Pension Fund Building Corporation?
Fox Valley & Vicinity Laborers Pension Fund Building Corporation is a nonprofit organization established to promote and expand retirement plans for its member participants and beneficiaries of the Fox Valley & Vicinity Laborers Pension Fund. The corporation provides facilities for this purpose and operates on a cooperative basis, primarily benefiting its members who consume the goods, services, or facilities it provides. The organization's primary activity involves holding title to property, collecting income from it, and then transferring the entire amount, minus expenses, to the Fox Valley & Vicinity Laborers Pension Fund. It operates from an address in Elgin, Illinois.
Is Fox Valley & Vicinity Laborers Pension Fund Building Corporation legitimate?
Fox Valley & Vicinity Laborers Pension Fund Building Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Fox Valley & Vicinity Laborers Pension Fund Building 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.
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What is the mission statement of Fox Valley & Vicinity Laborers Pension Fund Building Corporation?
The Fox Valley & Vicinity Laborers Pension Fund Building Corporation is established with a mission to promote the development, establishment, and expansion of retirement plans for its participating members and beneficiaries from the Fox Valley & Vicinity Laborers Pension Fund. The corporation also provides facilities for these purposes. It operates on a cooperative basis, primarily benefiting its member-participants by producing or furnishing goods, services, or facilities. The primary activity of the corporation is holding title to property, collecting income from it, and subsequently transferring the entire amount, less expenses, to the Fox Valley & Vicinity Laborers Pension Fund, an organization categorized under Section 501(a) of the Internal Revenue Code.
Who is the CEO of Fox Valley & Vicinity Laborers Pension Fund Building Corporation?
Mark Castelvecchi is the President - Former of Fox Valley & Vicinity Laborers Pension Fund Building Corporation.
What is the revenue of Fox Valley & Vicinity Laborers Pension Fund Building Corporation?
Fox Valley & Vicinity Laborers Pension Fund Building Corporation's revenue in 2022 was $45,533.
Who are the executives of Fox Valley & Vicinity Laborers Pension Fund Building Corporation and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Fox Valley & Vicinity Laborers Pension Fund Building Corporation?
Fox Valley & Vicinity Laborers Pension Fund Building Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Fox Valley & Vicinity Laborers Pension Fund Building Corporation
Fox Valley & Vicinity Laborers Pension Fund Building Corporation is a title-holding corporation with a unique mission. Its primary objective is to promote the development, establishment, and expansion of retirement plans for the participants and beneficiaries of the Fox Valley & Vicinity Laborers Pension Fund. To achieve this, the corporation provides facilities for these purposes and operates on a cooperative basis, producing or furnishing goods, services, or facilities primarily for the benefit of its member-participants, who are also its consumers.
In simpler terms, Fox Valley & Vicinity Laborers Pension Fund Building Corporation acts as a steward, ensuring the growth and sustainability of retirement plans for its members. Additionally, it offers resources and facilities that cater to the needs of its members, ultimately serving to enhance their quality of life. The corporation's activities are guided by Section 501(a) of the Internal Revenue Code, which outlines its nonprofit status.
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Impact
October, 2024
Fox Valley & Vicinity Laborers Pension Fund Building Corporation significantly impacts the financial security of its member participants and beneficiaries by focusing on the development, establishment, and expansion of retirement plans. By holding title to property and generating income from these assets, the corporation plays a crucial role in enhancing the pension fund's resources. This income is channeled back into the Fox Valley & Vicinity Laborers Pension Fund, ensuring that members have access to sustainable retirement benefits.
Additionally, the corporation fosters a cooperative environment designed to provide essential goods, services, and facilities that directly benefit its members. This model not only supports the immediate needs of the participants but also strengthens the overall community by ensuring that laborers have a reliable safety net for their retirement years. As a result, the corporation contributes to improved economic stability and quality of life for the workforce it serves in Elgin, Illinois, and the surrounding areas.
This information is meant to be a general summary of Fox Valley & Vicinity Laborers Pension Fund Building 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: $45,533
- Gross Receipts: $45,533
Assets and Liabilities:
- Total Assets: $700,000
- Total Liabilities: $0
- Net Assets: $700,000
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME FROM AFF
Revenue
$45,533
Organization Details
Founding Year
2014
Phone
(847) 742-0900Principal Officer
Mark Castelvecchi
Main Address
2371 BOWES RD 500, ELGIN, IL, 601235523
NTEE Category
Code: L20 - Housing
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