Overview
What is Southbrook Properties Corporation?
Southbrook Properties Corporation is a nonprofit organization situated in Memphis, Tennessee, specifically at 3160 N High Meadows, ZIP code 38128. Their primary focus is on cooperative property sharing, facilitating the joint utilization of facilities among governmental agencies, churches, and other non-profit organizations. This shared space provides an economical solution, allowing these entities to operate under one roof. The organization further receives government grants to support repairs and maintenance of the property location. Revenue is generated through payment arrangements for the upkeep of the property. The mission of Southbrook Properties Corporation is to promote collaboration and cost-effectiveness among various organizations within the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Star rating. This rating reflects a strong performance in the Accountability & Finance category, indicating that Southbrook Properties Corporation has established good financial practices and transparency. The organization scored 82% overall, with a high emphasis on accountability, demonstrating effective governance and financial health.
One of the notable strengths of Southbrook Properties is its fully independent board, achieving a perfect score of 8 out of 8 points for having majority independent board members. Additionally, the organization has no material diversion of assets and maintains comprehensive documentation of board meeting minutes, highlighting its commitment to transparency and responsible governance.
The financial health of the nonprofit is further evidenced by a 0.00% liabilities to assets ratio and a 100% program expense ratio, suggesting that all funds are directed towards fulfilling its mission. However, while the ratings showcase a reliable operational framework, potential donors may want to consider seeking additional information on program outcomes to assess impact beyond financial metrics.
This AI summary has been generated from information found on Charity Navigator.
Is Southbrook Properties Corporation legitimate?
Southbrook Properties Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southbrook Properties Corporation 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: $30,000
For more financial information, click here
What is the mission statement of Southbrook Properties Corporation?
Southbrook Properties Corporation's mission is to facilitate cooperative property sharing among various entities, including governmental agencies, churches, and other non-profit organizations. By doing so, they aim to provide a shared space under one roof, promoting efficiency and cost-effectiveness for the involved entities. Their activities primarily involve collecting revenue through rent payments and managing expenses to maintain the property location. Additionally, they have received a government grant to cover repairs and maintenance expenses at the property location.
Who is the CEO of Southbrook Properties Corporation?
Gregory Grant is the Consultant of Southbrook Properties Corporation.
What is the revenue of Southbrook Properties Corporation?
Southbrook Properties Corporation's revenue in 2022 was $524,116.
Who are the executives of Southbrook Properties Corporation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $30,000
- Related: $0
- Other: $0
Where can I find the form 990 for Southbrook Properties Corporation?
Southbrook Properties Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southbrook Properties Corporation
Southbrook Properties Corporation, as a mission-driven organization, focuses on fostering cooperation among various non-profit entities, governmental agencies, and churches. This unique endeavor aims to share property resources under one roof, thereby promoting shared resources and cost-effectiveness. The corporation's primary objective is to facilitate this cooperative property sharing, providing a platform for these entities to work together and achieve their collective goals more efficiently. Through this initiative, Southbrook Properties Corporation contributes to the overall well-being of the non-profit sector by promoting collaborative efforts and resource sharing. The organization's activities are financially sustained through payments and expenses related to maintaining the property location. To ensure the property's upkeep, they have also received a grant for repairs and maintenance.
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Impact
July, 2024
Southbrook Properties Corporation impacts the community by providing cooperative property sharing among governmental agencies, churches, and other non-profit organizations under one roof in Memphis, TN. This arrangement facilitates collaboration and efficiency among these entities, allowing them to better serve the community. Additionally, the revenue collected through payments and government grants received for repairs and maintenance help to upkeep the property location, ensuring a functional and welcoming space for these organizations to work together for the betterment of the community.
This information is meant to be a general summary of Southbrook Properties 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.
- Program Service Revenue: $524,116
- Gross Receipts: $524,116
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
2012
Phone
(901) 406-3306Principal Officer
Gregory Grant
Main Address
3160 N High Meadows, Memphis, TN, 38128
NTEE Category
Code: S30 - Community improvement
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