Overview
What is L&B Depp Inc?
L&B Depp Inc is a nonprofit organization, situated in Dallas, Texas at 5910 N CENTRAL EXPRESSWAY 1200. Its primary mission is to acquire real estate properties and distribute the net income generated from these properties to tax-exempt organizations. Specifically, the beneficiary of L&B Depp Inc's income is the Dow Employees' Pension Plan, with a Federal Tax Number of 38-6184045. The company's purpose is to support these exempt organizations by leveraging its real estate operations.
Is L&B Depp Inc legitimate?
L&B Depp Inc is a legitimate nonprofit organization registered as a 501(c)(25) entity. L&B Depp 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 L&B Depp Inc?
L&B Depp Inc is established with the primary objective of acquiring real property. The company's primary mission is to generate income from these properties and subsequently transfer the net income to the tax-exempt organizations that are its beneficiaries. The entity operates rental real estate properties, specifically for its exempt beneficiary, the Dow Employees' Pension Plan. This financial strategy allows the tax-exempt organizations to utilize the income for their designated purposes.
Who is the CEO of L&B Depp Inc?
Christine Mullis is the Principal Officer of L&B Depp Inc. The CEO's salary of L&B Depp Inc is $0 and their total compensation is $0.
What is the revenue of L&B Depp Inc?
L&B Depp Inc's revenue in 2022 was $1,482,352.
Who are the executives of L&B Depp Inc and what are their salaries?
Here are 4 key members and their salaries (L&B Depp Inc's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990 for L&B Depp Inc?
L&B Depp Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of L&B Depp Inc
L&B Depp Inc, as a company, is organized with a specific mission in mind. Its primary purpose is to acquire real property and subsequently remit the net income derived from these properties to the tax-exempt organizations that serve as its beneficiaries. This organization operates with the sole intention of supporting these tax-exempt entities, ensuring that a portion of its earnings contributes to their overall financial wellbeing. In this manner, L&B Depp Inc plays a significant role in funneling resources towards the causes supported by its beneficiaries. The company's mission is crucial in providing a steady income stream for these organizations, enabling them to continue their charitable work and make a positive impact on their communities.
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Impact
October, 2024
L&B Depp Inc has a significant impact on community improvement by acquiring and managing rental real estate properties to generate income for tax-exempt organizations. By remitting the net income from its properties to beneficiaries, such as the Dow Employees' Pension Plan, it supports the financial health of these organizations. This arrangement not only provides a steady stream of funding for essential services but also enhances the stability and growth of the local community in Dallas, Texas. The focus on real estate acquisition contributes to economic development while benefitting organizations that play crucial roles in the lives of individuals and families in the area. Overall, L&B Depp Inc promotes community welfare through strategic property management and financial support for tax-exempt beneficiaries.
This information is meant to be a general summary of L&B Depp 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: $5,710
- Gross Receipts: $2,972,391
Assets and Liabilities:
- Total Assets: $31,311,695
- Total Liabilities: $2,688,951
- Net Assets: $28,622,744
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Organization Details
Founding Year
1999
Phone
(214) 989-0800Principal Officer
Christine Mullis
Main Address
5910 N CENTRAL EXPRESSWAY 1200, DALLAS, TX, 75206
NTEE Category
Code: S47 - Community improvement
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