Overview
What is Midnight Sun Inc Vii?
Midnight Sun Inc Vii is a corporation with its headquarters in Hartford, Connecticut. Its primary function is to acquire and hold title to real property, generating income from these properties. The corporation then remits the entire income, after deducting expenses, to organizations categorized under Section 501(C)(25) of the Internal Revenue Code, which serve as its shareholders. In essence, Midnight Sun Inc Vii functions as a real estate investment entity, utilizing its earnings to support organizations with a specific 501(C)(25) tax-exempt status.
Is Midnight Sun Inc Vii legitimate?
Midnight Sun Inc Vii is a legitimate nonprofit organization registered as a 501(c)(25) entity. Midnight Sun Inc Vii 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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What is the mission statement of Midnight Sun Inc Vii?
Midnight Sun Inc Vii is organized with the primary goal of acquiring and holding title to real property. The corporation collects income generated from these properties and subsequently remits the entire amount, after deducting expenses, to one or more organizations falling under IRC Section 501(C)(25). These organizations serve as the shareholders of Midnight Sun Inc Vii. The corporation's activities are focused on generating income from real estate and distributing this income to its designated shareholder organizations.
Who is the CEO of Midnight Sun Inc Vii?
James B Mccandless is the Director of Midnight Sun Inc Vii.
What is the revenue of Midnight Sun Inc Vii?
Midnight Sun Inc Vii's revenue in 2022 was $1,731,260.
Who are the executives of Midnight Sun Inc Vii 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 Vii?
Midnight Sun Inc Vii's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Midnight Sun Inc Vii
Midnight Sun Inc Vii is a corporation with a specific mission. Established for an exclusive purpose, this organization primarily focuses on acquiring, holding title to, and collecting income from real property. This income, after deducting expenses, is then remitted in its entirety to one or more organizations that fall under the category of 501(c)(25) in the Internal Revenue Code (I.R.C.). These 501(c)(25) organizations serve as shareholders for Midnight Sun Inc Vii. In essence, Midnight Sun Inc Vii functions as a real estate investment entity, with its profits benefiting the designated 501(c)(25) organizations.
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Impact
October, 2024
Midnight Sun Inc Vii plays a significant role in the management and redistribution of income generated from real property holdings. By acquiring and holding title to various real estate assets, the organization effectively contributes to the local economy in Hartford, CT. The income collected is carefully managed and then allocated to one or more qualifying organizations under the IRS Section 501(c)(25), supporting community initiatives and improvements.
The impact of its activities extends beyond mere financial returns; it fosters community development and supports organizations that provide essential services or programs. This indirect contribution can strengthen the local community by funding activities that enhance quality of life, support vulnerable populations, or promote economic development. Ultimately, Midnight Sun Inc Vii serves as a vehicle for channeling resources into beneficial community-oriented projects, amplifying its impact in Hartford and beyond.
This information is meant to be a general summary of Midnight Sun Inc Vii. 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: $1,731,260
- Gross Receipts: $1,731,260
Assets and Liabilities:
- Total Assets: $33,594,717
- Total Liabilities: $266,967
- Net Assets: $33,327,750
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,731,260
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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