Overview
What is Midnight Sun Inc Ii?
Midnight Sun Inc II is a corporation primarily engaged in the acquisition and management of real estate properties. Its primary objective is to generate income from these properties, which it then remits to organizations classified under I.R.C. section 501(c)(25), serving as their shareholders. This organization, based in Hartford, Connecticut, utilizes the income collected from its properties to support these designated entities.
Is Midnight Sun Inc Ii legitimate?
Midnight Sun Inc Ii is a legitimate nonprofit organization registered as a 501(c)(25) entity. Midnight Sun Inc Ii 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Midnight Sun Inc Ii?
Midnight Sun Inc II is organized with the primary objective of acquiring and holding title to real property. The corporation collects income generated from these properties and subsequently remits the entire income, after deducting expenses, to one or more organizations classified under IRC Section 501(c)(25). These organizations serve as shareholders of Midnight Sun Inc II.
Who is the CEO of Midnight Sun Inc Ii?
James B Mccandless is the Director of Midnight Sun Inc Ii.
What is the revenue of Midnight Sun Inc Ii?
Midnight Sun Inc Ii's revenue in 2022 was $3,463,918.
Who are the executives of Midnight Sun Inc Ii and what are their salaries?
Here are 3 key members and their salaries:
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Where can I find the form 990 for Midnight Sun Inc Ii?
Midnight Sun Inc Ii's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Midnight Sun Inc Ii
Midnight Sun Inc II is an organization with a specific mission. Its primary objective is to acquire and hold title to real property, generating income from these properties. This income, after deducting expenses, is then remitted in its entirety to one or more organizations, as outlined in the Internal Revenue Code section 501(c)(25). These organizations serve as the shareholders of Midnight Sun Inc II. The corporation's activities are centered around real estate acquisition, property management, and income distribution, with the ultimate goal of benefiting the shareholder organizations.
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Impact
October, 2024
Midnight Sun Inc II plays a significant role in the realm of community improvement by acquiring and managing real estate assets. By holding title to various properties, the organization generates income that is strategically allocated to enhance the impact of its shareholder organizations. This financial support contributes to their missions, enabling them to focus on initiatives that benefit the community.
The company's activities not only facilitate the effective management of real estate but also ensure that the income created is used for positive purposes, thereby fostering local development and improving living conditions. The adherence to remitting funds to organizations recognized under IRC section 501(c)(25) highlights a commitment to ensuring that profits serve the community's best interests.
Through its operations in Hartford, CT, Midnight Sun Inc II effectively cultivates a network of resources that can lead to enhanced services, programs, and improvements that resonate with the needs of the community, reflecting a proactive approach to community enhancement and support.
This information is meant to be a general summary of Midnight Sun Inc Ii. 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.
- Program Service Revenue: $3,463,918
- Gross Receipts: $3,463,918
Assets and Liabilities:
- Total Assets: $94,986,701
- Total Liabilities: $457,360
- Net Assets: $94,529,341
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$3,463,918
Organization Details
Founding Year
2008
Phone
(860) 616-9200Principal Officer
James B Mccandless
Main Address
10 STATE HOUSE SQUARE 15TH FLOOR, Hartford, CT, 061033604
NTEE Category
Code: S47 - Community improvement
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