Overview
What is August Corporation?
August Corporation serves as a title holder for real estate properties, acting on behalf of the Libra Foundation. Their primary role involves receiving net rental income from these properties and subsequently distributing it to the Libra Foundation. Situated in Portland, Maine, this organization is committed to fulfilling its mission, which contributes to the Libra Foundation's operations and financial wellbeing.
Is August Corporation legitimate?
August Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. August 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 August Corporation?
The August Corporation's primary role is to manage real estate properties on behalf of the Libra Foundation. Its primary mission is to receive all net rental income generated from these properties and then proceed to distribute this income to the Libra Foundation. This organization serves as a financial intermediary, ensuring the smooth flow of funds from the rental income to the foundation. The properties under August Corporation's management contribute to the Libra Foundation's financial resources, supporting its various initiatives and causes.
Who is the CEO of August Corporation?
Craig Denekas is the Principal Officer of August Corporation.
What is the revenue of August Corporation?
August Corporation's revenue in 2022 was -$2,300,741.
Who are the executives of August Corporation and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $14,500
- Related: $414,445
- Other: $79,135
- Compensation: $14,500
- Related: $114,434
- Other: $52,649
- Compensation: $14,500
- Related: $14,500
- Other: $0
- Compensation: $14,500
- Related: $14,500
- Other: $0
- Compensation: $0
- Related: $389,952
- Other: $62,091
- Compensation: $0
- Related: $275,028
- Other: $63,551
- Compensation: $0
- Related: $275,111
- Other: $80,027
- Compensation: $0
- Related: $125,001
- Other: $42,256
- Compensation: $0
- Related: $125,001
- Other: $42,873
Where can I find the form 990 for August Corporation?
August Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of August Corporation
August Corporation, as a nonprofit entity, is tasked with a unique mission. Its primary role is to act as a trustee for the Libra Foundation, holding title to real estate properties. The organization's main responsibility is to generate net rental income from these properties. This income is then distributed directly to the Libra Foundation. Essentially, August Corporation serves as a financial intermediary, facilitating the transfer of income derived from real estate investments to benefit the Libra Foundation. By fulfilling this mission, August Corporation contributes to the Libra Foundation's ability to carry out its own charitable activities and initiatives.
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Impact
October, 2024
August Corporation plays a significant role in supporting the Libra Foundation by managing real estate assets and facilitating a steady flow of rental income. By holding title to the properties on behalf of the Libra Foundation, August Corporation ensures that these assets are effectively utilized for community improvement initiatives. The net rental income generated from these properties is directly distributed to the Libra Foundation, thereby enhancing its capacity to fund various programs and services aimed at benefiting the community in Portland, ME. Through its dedicated management of real estate, August Corporation contributes to the sustainability and growth of vital community support efforts, fostering improvement and development within the area.
This information is meant to be a general summary of August 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: -$516,600
- Gross Receipts: $1,086,249
Assets and Liabilities:
- Total Assets: $26,260,505
- Total Liabilities: $14,771
- Net Assets: $26,245,734
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Organization Details
Founding Year
2017
Phone
(207) 879-6280Principal Officer
Craig Denekas
Main Address
THREE CANAL PLAZA PO BOX 17516, PORTLAND, ME, 04112
NTEE Category
Code: S47 - Community improvement
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