Overview
What is Hearthstone Properties Corporation?
Hearthstone Properties Corporation is a nonprofit organization specifically established to manage real estate properties. Its primary objective is to generate income through the collection of rents and other revenues from these properties. The corporation then redistributes this income, after deducting expenses, to aid in the educational, religious, and charitable pursuits of the Brothers of the Sacred Heart, a recognized exempt organization. By doing so, Hearthstone Properties Corporation plays a crucial role in supporting the Brothers' noble causes.
Is Hearthstone Properties Corporation legitimate?
Hearthstone Properties Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Hearthstone Properties 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 Hearthstone Properties Corporation?
Hearthstone Properties Corporation is an organization dedicated to supporting the educational, religious, and charitable endeavors of the Brothers of the Sacred Heart. It primarily functions by holding title to real estate properties, generating income, and subsequently transferring the net income, after deducting expenses, to aid in the fulfillment of these purposes. The Brothers of the Sacred Heart, being an exempt organization, benefits from the income generated by Hearthstone Properties Corporation. The corporation's main objective is to contribute to the noble causes supported by the Brothers of the Sacred Heart.
Who is the CEO of Hearthstone Properties Corporation?
Gene Tullier is the Director, President of Hearthstone Properties Corporation.
What is the revenue of Hearthstone Properties Corporation?
Hearthstone Properties Corporation's revenue in 2022 was $390,760.
Who are the executives of Hearthstone Properties Corporation and what are their salaries?
There 3 volunteers at Hearthstone Properties Corporation.
Here are 5 key members and their salaries:
- Compensation: $160,364
- Related: $0
- Other: $14,399
- Compensation: $101,017
- Related: $0
- Other: $13,844
- 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 Hearthstone Properties Corporation?
Hearthstone Properties Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hearthstone Properties Corporation
Hearthstone Properties Corporation, as a mission-driven organization, operates exclusively with the primary objective of providing financial support for the educational, religious, and charitable pursuits of the Brothers of the Sacred Heart. The corporation accomplishes this by holding title to various properties, collecting income from these assets, and then distributing the net earnings, after accounting for expenses, to the Brothers of the Sacred Heart. This exempt organization benefits significantly from Hearthstone Properties Corporation's operations, allowing it to carry out its own noble causes. The corporation's role is instrumental in ensuring that the Brothers of the Sacred Heart can continue their vital work in the educational, religious, and charitable sectors.
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Impact
October, 2024
Hearthstone Properties Corporation plays a vital role in bolstering educational, religious, and charitable initiatives associated with the Brothers of the Sacred Heart. By holding title to real estate and managing income-generating properties, the corporation ensures that funds are directed towards supporting these important missions. This financial backing enables various programs and services that benefit the community, enhancing educational opportunities and promoting charitable activities. Through its commitment to community improvement, Hearthstone Properties Corporation strengthens the broader impact of the Brothers of the Sacred Heart, fostering a positive environment for growth and development in Baton Rouge, LA.
This information is meant to be a general summary of Hearthstone Properties 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.
- Gross Receipts: $754,585
Assets and Liabilities:
- Total Assets: $7,268,805
- Total Liabilities: $3,749,780
- Net Assets: $3,519,025
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Organization Details
Founding Year
1992
Phone
(225) 383-0397Principal Officer
Gene Tullier
Main Address
855 HEARTHSTONE DRIVE, BATON ROUGE, LA, 70806
NTEE Category
Code: S47 - Community improvement
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