Overview
What is Stacy Foundation Building Inc?
Stacy Foundation Building Inc, located in Fort Lauderdale, Florida, is a title-holding organization exempt under Section 501(C)(2) of the Internal Revenue Code, as per an IRS determination letter dated March 2, 2001. The organization holds the title to a property and leases out below-market office space to various 501(c)(3) public charities. The income generated from this property, after deducting expenses, is then passed on to the Festus & Helen Stacy Foundation, Inc., a non-profit corporation exempt under Section 501(c)(3) of the Internal Revenue Code. In essence, Stacy Foundation Building Inc serves as a property-holding entity, supporting other non-profit organizations by providing them with office space at reduced rates.
Is Stacy Foundation Building Inc legitimate?
Stacy Foundation Building Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Stacy Foundation Building 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
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What is the mission statement of Stacy Foundation Building Inc?
The Stacy Foundation Building Inc serves as a title-holding organization, exempt under IRC Section 501(C)(2), according to an IRS determination letter from March 2, 2001. Its primary activity involves holding title to a property in Fort Lauderdale, Florida, and providing below-market office space for select 501(C)(3) public charities. The income generated from the property, after accounting for expenses, is then transferred to the Festus & Helen Stacy Foundation Inc, a non-profit organization under Section 501(C)(3) of the Internal Revenue Code. In essence, the Stacy Foundation Building Inc's main purpose is to facilitate this property-related transaction to support other charitable organizations.
Who is the CEO of Stacy Foundation Building Inc?
Brett Stepelton is the Director of Stacy Foundation Building Inc.
What is the revenue of Stacy Foundation Building Inc?
Stacy Foundation Building Inc's revenue in 2022 was $120,019.
Who are the executives of Stacy Foundation Building Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $221,172
- Other: $26,117
- Compensation: $0
- Related: $240,600
- Other: $21,655
- Compensation: $0
- Related: $69,723
- Other: $7,440
- Compensation: $0
- Related: $0
- Other: $3,940
Where can I find the form 990 for Stacy Foundation Building Inc?
Stacy Foundation Building Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Stacy Foundation Building Inc
The Stacy Foundation Building Inc, as a title-holding organization, holds a unique role in the nonprofit sector. Exempt under IRS Section 501(C)(2), this organization's primary mission is to provide below-market office space for certain 501(C)(3) public charities. By doing so, the organization contributes to the operational costs of these charities, with any remaining income from the property being passed on to the Festus & Helen Stacy Foundation, Inc., another non-profit entity exempt under Section 501 (C)(3) of the Internal Revenue Code. This transfer of income represents the entirety of Stacy Foundation Building Inc's activities, serving as a crucial facilitator in supporting other charitable organizations. By offering affordable office spaces, the organization plays a pivotal role in the nonprofit sector, enabling these charities to focus on their respective missions while alleviating some of their financial burdens.
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Impact
October, 2024
Stacy Foundation Building Inc significantly contributes to the community by providing below-market office space for various 501(c)(3) public charities in Fort Lauderdale, Florida. This initiative not only supports these organizations by reducing their operational costs but also fosters a collaborative environment for charitable activities. The income generated from the property, after expenses, is directed to the Festus & Helen Stacy Foundation, further amplifying its impact by funding charitable programs and services. This cycle of support enhances the capacity of local nonprofits to serve the community, ultimately driving improved outcomes in various sectors. By holding title to the real estate used by these organizations, Stacy Foundation Building Inc plays a crucial role in the sustainability and growth of charitable endeavors in the region.
This information is meant to be a general summary of Stacy Foundation Building 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.
- Investment Income: $19
- Program Service Revenue: $120,000
- Gross Receipts: $120,019
Assets and Liabilities:
- Total Assets: $1,036,664
- Total Liabilities: $387,643
- Net Assets: $649,021
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$120,000
Organization Details
Founding Year
2000
Phone
(954) 776-3386Principal Officer
Brett Stepelton
Main Address
5110 NORTH FEDERAL HIGHWAY 100, FORT LAUDERDALE, FL, 33308
NTEE Category
Code: S47 - Community improvement
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