Overview
What is Mept-501 Inc?
Mept-501 Inc is a nonprofit corporation based in Bethesda, Maryland, with an address at 7315 Wisconsin Avenue Suite 350W. Its primary objective is to acquire real property and hold title to it, collecting income generated from the property. The organization then distributes the entire income to nonprofit organizations, specifically those classified under section 501(C)(25), which are its shareholders. These affiliated organizations utilize the income for their respective programs and initiatives. In essence, Mept-501 Inc serves as a conduit for real estate-based income, channeling it to its shareholder organizations.
Is Mept-501 Inc legitimate?
Mept-501 Inc is a legitimate nonprofit organization registered as a 501(c)(25) entity. Mept-501 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Mept-501 Inc?
Mept-501 Inc's primary mission is to acquire real property and hold title to it. The income generated from this property is then collected and entirely remitted to organizations classified under section 501(C)(25), which are shareholders of the corporation. This financial support to these specified organizations is a core aspect of Mept-501 Inc's activities. The corporation's role essentially involves generating income from real estate investments and channeling it to eligible organizations. This mission serves to support these organizations financially, without specifying the nature or purpose of their activities.
Who is the CEO of Mept-501 Inc?
Alonia Carey is the President of Mept-501 Inc.
What is the revenue of Mept-501 Inc?
Mept-501 Inc's revenue in 2022 was -$260,291.
Who are the executives of Mept-501 Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Mept-501 Inc?
Mept-501 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mept-501 Inc
Mept-501 Inc, a corporation with a unique mission, primarily focuses on acquiring real estate properties. Once they obtain these properties, they hold the titles and collect income derived from them. The intriguing aspect of Mept-501 Inc's mission is that it remits the entire income collected to organizations that fall under Section 501(C)(25). These organizations are shareholders of the corporation, making Mept-501 Inc a vital source of income for these nonprofit entities. By fulfilling this role, Mept-501 Inc plays a significant part in supporting the activities and operations of these charitable organizations, ultimately contributing to the broader community.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Mept-501 Inc significantly contributes to community improvement by acquiring real property and managing it effectively. By holding title to these properties and collecting income generated from them, Mept-501 Inc ensures that the financial resources are redirected to organizations designated under section 501(c)(25). This strategic financial flow supports community-focused initiatives and helps enhance the services provided by these shareholder organizations.
Based in Bethesda, MD, Mept-501 Inc plays a pivotal role in sustaining neighborhoods and local enterprises through its property management activities. The income collected from the properties is entirely remitted back to its partners, thus reinforcing a cycle of support that can stimulate economic growth, improve infrastructure, and foster community development. This endeavor not only addresses immediate financial needs but can also lead to long-lasting benefits for the stakeholders involved, contributing to a robust and interconnected community.
This information is meant to be a general summary of Mept-501 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 2022.
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1998
Phone
(240) 235-9976Principal Officer
Alonia Carey
Main Address
7315 WISCONSIN AVENUE SUITE 350W, BETHESDA, MD, 20814
NTEE Category
Code: S47 - Community improvement
If you are a representative of Mept-501 Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.