Overview
What is Crosspointe Life Holdings Corporation?
Crosspointe Life Holdings Corporation is a nonprofit organization with a unique mission. Its primary role is to manage real estate properties, generating income from these assets. The corporation's main objective is to transfer the entire income, after deducting expenses, to a charitable organization that is exempt under the Internal Revenue Code (IRC) Section 501(a). The income generated by Crosspointe Life Holdings Corporation, known as Unrelated Business Taxable Income (UBTI), was reported in a consolidated form 990T along with its parent company, Crosspointe Life Church. This nonprofit organization's sole focus is to support other charitable organizations by managing its property-related income.
Is Crosspointe Life Holdings Corporation legitimate?
Crosspointe Life Holdings Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Crosspointe Life Holdings 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.
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 Crosspointe Life Holdings Corporation?
Crosspointe Life Holdings Corporation serves a unique purpose by exclusively holding property titles and generating income from them. This corporation then transfers the income, after deducting expenses, to an organization that is exempt under the Internal Revenue Code Section 501(a). It's important to note that the corporation reports its Unrelated Business Taxable Income (UBTI) on a consolidated Form 990T with its parent company, Crosspointe Life Church. However, the mission statement of Crosspointe Life Holdings Corporation primarily revolves around its financial operations and does not specify any particular cause or social goal.
Who is the CEO of Crosspointe Life Holdings Corporation?
Unavailable The CEO's salary of Crosspointe Life Holdings Corporation is $0 and their total compensation is $0.
What is the revenue of Crosspointe Life Holdings Corporation?
Crosspointe Life Holdings Corporation's revenue in 2022 was $17,466.
Who are the executives of Crosspointe Life Holdings Corporation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Crosspointe Life Holdings Corporation?
Crosspointe Life Holdings Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Crosspointe Life Holdings Corporation
Crosspointe Life Holdings Corporation is established with a specific purpose. Its primary role is to hold title to property and generate income from it. This income, less any expenses, is then transferred in full to an organization that is exempt under the Internal Revenue Code Section 501(a). It's worth noting that any Unrelated Business Income Tax (UBIT) income for Crosspointe Life Holdings Corporation was reported on a consolidated Form 990T with its parent company, Crosspointe Life Church, which also holds exempt status under Section 501(a). In essence, Crosspointe Life Holdings Corporation serves as a financial intermediary, directing its income to support the mission of another exempt organization.
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Impact
October, 2024
Crosspointe Life Holdings Corporation plays a pivotal role in supporting religious and community initiatives by managing real estate assets. By holding title to properties and collecting income from these assets, it provides vital financial resources to further the mission of Crosspointe Life Church. This arrangement allows for reinvestment into community services and religious outreach, enhancing the overall impact in La Mesa, CA, and beyond.
The corporation operates within a framework that ensures all income is directed to an organization recognized as exempt under IRC 501(a), allowing it to contribute to various charitable activities. This structure not only facilitates the management of real estate investments but also ensures that the income generated is effectively utilized to support relevant community activities and programs.
Overall, Crosspointe Life Holdings Corporation strengthens the financial underpinning of its parent organization, enabling it to focus on its mission of service and outreach within the community.
This information is meant to be a general summary of Crosspointe Life Holdings 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.
- Gross Receipts: $208,515
Assets and Liabilities:
- Total Assets: $704,890
- Total Liabilities: $337,133
- Net Assets: $367,757
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Organization Details
Phone
(858) 750-8346Main Address
8809 LA MESA BLVD, LA MESA, CA, 91942
NTEE Category
Code: X11 - Religion related
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