Overview
What is The Gamma Eta Mansion Corporation?
The Gamma Eta Mansion Corporation is a nonprofit entity that holds the title to a fraternity house situated on Florida State University's campus. This organization operates primarily for the benefit of the Gamma Eta Chapter of Kappa Alpha Order, a nationally recognized collegiate social fraternity that enjoys tax-exempt status under IRS Section 501(C)(7). The corporation's primary role includes collecting rent from the fraternity members, managing the property's mortgage, insurance, repairs, and maintenance costs. The corporation conducts no other activities and any remaining net assets are exclusively intended for the Gamma Eta Chapter of Kappa Alpha Order, with any potential surplus ultimately benefiting the national fraternity in its absence.
Is The Gamma Eta Mansion Corporation legitimate?
The Gamma Eta Mansion Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. The Gamma Eta Mansion 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 The Gamma Eta Mansion Corporation?
The Gamma Eta Mansion Corporation's primary role is to manage a fraternity house on a university campus, specifically for the Gamma Eta Chapter of Kappa Alpha Order. The corporation collects rent, covers expenses such as mortgage, insurance, repairs, and maintenance, and then transfers the remaining funds to the chapter. The corporation does not engage in any other activities and any excess assets are benefits solely for the Gamma Eta Chapter, unless the chapter is no longer in existence, then they go to the national fraternity. In essence, the corporation exists to support the Gamma Eta Chapter of Kappa Alpha Order by managing their fraternity house.
Who is the CEO of The Gamma Eta Mansion Corporation?
John Yearty is the President of The Gamma Eta Mansion Corporation.
What is the revenue of The Gamma Eta Mansion Corporation?
The Gamma Eta Mansion Corporation's revenue in 2022 was $17,811.
Who are the executives of The Gamma Eta Mansion Corporation and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for The Gamma Eta Mansion Corporation?
The Gamma Eta Mansion Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Gamma Eta Mansion Corporation
The Gamma Eta Mansion Corporation serves a specific purpose, primarily holding the title to a fraternity house located on a university campus. This property is primarily utilized for the benefit of the Gamma Eta Chapter of Kappa Alpha Order, a renowned national collegiate social fraternity recognized as tax-exempt under IRS section 501(C)(7). The corporation collects rent from the chapter members, ensuring the mortgage payments, insurance coverage, and necessary repairs and maintenance are all covered. By managing this property, The Gamma Eta Mansion Corporation ensures the chapter can focus on its fraternity activities, providing a stable living environment. Any residual net assets remain within the organization's purview, primarily benefiting the Gamma Eta Chapter of Kappa Alpha Order. In the absence of the chapter, these assets would be directed towards the national fraternity. In essence, The Gamma Eta Mansion Corporation acts as a steward, ensuring the financial and operational well-being of the Gamma Eta Chapter of Kappa Alpha Order.
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Impact
October, 2024
The Gamma Eta Mansion Corporation plays a crucial role in supporting the Gamma Eta Chapter of the Kappa Alpha Order at Florida State University by managing the fraternity house. By holding the title to the property, the Corporation ensures that the house serves as a dedicated space for the chapter, fostering a sense of community and belonging among its members.
The Corporation is responsible for collecting rent, handling the mortgage payments, and taking care of insurance, repairs, and maintenance, which provides the chapter with a stable and well-maintained environment. Any residual funds generated from these activities contribute directly to the fraternity's operations, allowing the members to focus on their collegiate experience without the burden of financial management related to the property.
Overall, The Gamma Eta Mansion Corporation strengthens the fraternal organization by ensuring that its physical presence on campus is secure and beneficial, ultimately enhancing the social and community values that the Kappa Alpha Order promotes among its members.
This information is meant to be a general summary of The Gamma Eta Mansion 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.
- Investment Income: $20
- Gross Receipts: $82,470
Assets and Liabilities:
- Total Assets: $1,034,578
- Total Liabilities: $173,136
- Net Assets: $861,442
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Organization Details
Founding Year
1998
Phone
(850) 668-1637Principal Officer
John Yearty
Main Address
3023 SHANNON LAKES DR 102, TALLAHASSEE, FL, 32309
NTEE Category
Code: S47 - Community improvement
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