Overview
What is The Richmont Corporation?
The Richmont Corporation serves as a 501(c)(2) organization, primarily functioning as a title holding company. It is situated in Houston, Texas, and its primary role is to manage an apartment complex situated near The Menil Collection. The corporation's responsibility extends to overseeing the rentals of this property, acting on behalf of its sole shareholder, the Menil Foundation, Inc. The company's annual net income is then transferred to the Foundation. In essence, Richmont Corporation is an instrumental entity that manages real estate assets for the Menil Foundation, contributing financially to its operations.
Is The Richmont Corporation legitimate?
The Richmont Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. The Richmont Corporation submitted a form 990EZ, 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.
What is the mission statement of The Richmont Corporation?
The Richmont Corporation, functioning as a title-holding company, is primarily tasked with managing an apartment complex. Its primary duty is to oversee the rental of the property on behalf of its sole shareholder, the Menil Foundation, Inc. The corporation distributes its annual net income to the Foundation. In essence, its mission is to ensure the smooth operation and maintenance of the property, with the ultimate goal of generating income for its affiliated organization. While The Richmont Corporation does not directly provide social services or conduct research, its role in maintaining a stable living environment contributes to the overall well-being of its residents.
Who is the CEO of The Richmont Corporation?
Francois De Menil is the President of The Richmont Corporation.
What is the revenue of The Richmont Corporation?
The Richmont Corporation's revenue in 2022 was $0.
Who are the executives of The Richmont Corporation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990EZ for The Richmont Corporation?
The Richmont Corporation's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of The Richmont Corporation
The Richmont Corporation, functioning as a Title Holding Company, is dedicated to managing an apartment complex on behalf of its sole shareholder, the Menil Foundation, Inc. This organization's primary mission is to oversee the rental of its real property, ensuring a steady income that is subsequently distributed annually to the Menil Foundation. The Richmont Corporation's role is crucial in maintaining the property's operations, thereby contributing to the Menil Foundation's overall objectives.
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Impact
October, 2024
The Richmont Corporation significantly impacts the community by managing an apartment complex in the neighborhood of The Menil Collection in Houston, TX. Through its role as a Title Holding Company, it ensures the effective oversight and rental of the property, providing quality housing options in a culturally rich area. By distributing its net income to the Menil Foundation, it supports various initiatives that enhance community well-being and promote cultural engagement. This financial contribution enables the foundation to further its mission, fostering community improvement and enriching the cultural landscape of the region. Overall, The Richmont Corporation plays a vital role in maintaining and enhancing the residential environment while supporting the broader goals of the Menil Foundation.
This information is meant to be a general summary of The Richmont 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.
Assets and Liabilities:
- Total Assets: $10,463
- Total Liabilities: $0
- Net Assets: $10,463
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Organization Details
Phone
(713) 525-9484Principal Officer
Francois De Menil
Main Address
1519 Branard Street, Houston, TX, 770064721
NTEE Category
Code: S47 - Community improvement
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