Overview
What is Clarc Properties Inc?
Clarc Properties Inc is a nonprofit organization situated in Frederick, Maryland, with a specific focus on property management. They primarily hold title to real estate properties and lease them to two sponsor nonprofit organizations. The primary function of this organization is to collect income derived from these properties and then distribute dividends to its shareholders. By doing so, Clarc Properties Inc contributes to the financial sustainability of these nonprofit organizations, thereby supporting their respective missions and objectives.
Is Clarc Properties Inc legitimate?
Clarc Properties Inc is a legitimate nonprofit organization registered as a 501(c)(25) entity. Clarc Properties 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:
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What is the mission statement of Clarc Properties Inc?
Clarc Properties Inc was established with the primary objective of holding title to real property. The organization's role involves managing this property and collecting income generated from it. One of the key responsibilities of Clarc Properties Inc is to distribute dividends to its shareholders, derived from the income generated from the leased property. In essence, Clarc Properties Inc serves as a property holding and income generating entity, with a focus on dividend distribution to its shareholders.
Who is the CEO of Clarc Properties Inc?
Shawn Cavenee is the Vice President of Clarc Properties Inc.
What is the revenue of Clarc Properties Inc?
Clarc Properties Inc's revenue in 2023 was -$22,719.
Who are the executives of Clarc Properties Inc and what are their salaries?
There 6 volunteers at Clarc Properties Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Clarc Properties Inc?
Clarc Properties Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Clarc Properties Inc
Clarc Properties Inc serves as a titular holder for two non-profit organizations, providing leased real estate properties to them. The organization's primary objective is to manage these properties, collect income generated from them, and subsequently distribute dividends to its shareholders. In essence, Clarc Properties Inc plays a crucial role in ensuring the financial sustainability of the two non-profit organizations, allowing them to focus on their respective missions. By holding title to the properties and overseeing their income generation, Clarc Properties Inc contributes to the long-term success of these non-profit organizations, thereby indirectly supporting their causes.
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Impact
October, 2024
Clarc Properties Inc plays a crucial role in enhancing community development by holding title to and managing real property. This organization effectively collects income generated from these properties, which can be reinvested into the community or distributed to shareholders. By maintaining and leasing real estate to sponsoring nonprofit organizations, Clarc Properties Inc directly supports initiatives that contribute to the overall improvement of the Frederick community in Maryland. Their efforts facilitate the growth of local services and programs, fostering a more vibrant and sustainable environment for residents.
This information is meant to be a general summary of Clarc Properties 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 2023.
- Investment Income: $1,404
- Gross Receipts: $69,404
Assets and Liabilities:
- Total Assets: $974,597
- Total Liabilities: $13,979
- Net Assets: $960,618
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Organization Details
Founding Year
1997
Phone
(301) 663-0909Principal Officer
Shawn Cavenee
Main Address
620-A RESEARCH COURT, FREDERICK, MD, 21703
NTEE Category
Code: S47 - Community improvement
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