Overview
What is Soc 40 Peck Slip Realty Inc?
Soc 40 Peck Slip Realty Inc is a nonprofit organization situated in New York City, specifically at 40 Peck Slip, New York, NY 10038. Its primary purpose is to manage rental properties, collect rental income, and distribute the net income after expenses to three beneficiary corporations. These entities include the Superior Officers Council Retiree Health & Welfare Fund, a Section 501 (C) (9), the Lieutenants Benevolent Association of the City of New York, a Section 501 (C) (5), and the Captains Endowment Association, a Section 501 (C) (5). By serving as the title holder for these properties, Soc 40 Peck Slip Realty Inc contributes to the financial well-being of these associations. The organization operates with a small workforce of one employee.
Is Soc 40 Peck Slip Realty Inc legitimate?
Soc 40 Peck Slip Realty Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Soc 40 Peck Slip Realty 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: $48,000
For more financial information, click here
What is the mission statement of Soc 40 Peck Slip Realty Inc?
Soc 40 Peck Slip Realty Inc was established with the primary objective of managing rental real estate properties. Its main purpose is to collect rental income from these properties and subsequently distribute the net income after covering expenses to three beneficiary organizations. These organizations include the Superior Officers Council Retiree Health & Welfare Fund, a section 501 (C) (9), the Lieutenants Benevolent Association of the City of New York, a section 501 (C) (5), and the Captains Endowment Association, also a section 501 (C) (5). In essence, the mission of Soc 40 Peck Slip Realty Inc is centered around managing rental properties and distributing the proceeds to these charitable entities.
Who is the CEO of Soc 40 Peck Slip Realty Inc?
Chris Monahanchairman is the Principal Officer of Soc 40 Peck Slip Realty Inc.
What is the revenue of Soc 40 Peck Slip Realty Inc?
Soc 40 Peck Slip Realty Inc's revenue in 2022 was $282,000.
Who are the executives of Soc 40 Peck Slip Realty Inc and what are their salaries?
The average compensation at Soc 40 Peck Slip Realty Inc during 2022 was $48,000. There is 1 employee at Soc 40 Peck Slip Realty Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $109,776
- Other: $0
- Compensation: $0
- Related: $97,508
- Other: $0
- Compensation: $0
- Related: $73,176
- Other: $0
- Compensation: $0
- Related: $48,754
- Other: $0
Where can I find the form 990 for Soc 40 Peck Slip Realty Inc?
Soc 40 Peck Slip Realty Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Soc 40 Peck Slip Realty Inc
Soc 40 Peck Slip Realty Inc, as a nonprofit organization, was established with a specific purpose. Its mission is to hold title to rental real property and collect rental income. The primary objective is to generate a net income after covering expenses, which is then distributed to several beneficiary corporations. These corporations include the Superior Officers Council Retiree Health & Welfare Fund, a Section 501 (C) (9), the Lieutenants Benevolent Association of the City of New York, a Section 501 (C) (5), and the Captains Endowment Association, another Section 501 (C) (5) entity. The organization's role is to ensure the financial sustainability of these entities by managing rental properties and generating income for their welfare.
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Impact
October, 2024
Soc 40 Peck Slip Realty Inc plays a significant role in supporting key organizations that serve the needs of New York's public safety workforce. By holding title to rental real property and collecting rental income, it generates resources that are crucial for the financial sustainability of associated entities such as the Superior Officers Council Retiree Health & Welfare Fund and the Lieutenants Benevolent Association of the City of New York.
The rental income collected is efficiently managed and redistributed to these affiliated organizations, which provide essential services and support to their members, including healthcare and welfare benefits. This financial mechanism allows for a steady flow of income that ensures that retirees and active members of these organizations receive necessary assistance.
Through its operations, Soc 40 Peck Slip Realty Inc directly contributes to the well-being of public safety officers and their families, demonstrating a commitment to community improvement by enhancing the quality of life for those who serve in critical roles within the city.
This information is meant to be a general summary of Soc 40 Peck Slip Realty 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.
- Program Service Revenue: $282,000
- Gross Receipts: $282,000
Assets and Liabilities:
- Total Assets: $8,150,956
- Total Liabilities: $692,123
- Net Assets: $7,458,833
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$282,000
Organization Details
Founding Year
2014
Phone
(212) 964-7500Principal Officer
Chris Monahanchairman
Main Address
40 PECK SLIP, NEW YORK, NY, 10038
NTEE Category
Code: S47 - Community improvement
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