Overview
What is Scottsdale Residences Llc?
Scottsdale Residences LLC is a title holding corporation, functioning under the IRC Section 501(c)(25), with a primary purpose of managing real estate properties. The organization holds the titles of these properties on behalf of the Public Employees' Retirement System of Nevada (retirement system). Scottsdale Residences LLC generates investment income from these properties and then distributes it to the retirement system, serving as an essential financial intermediary for this public entity.
Is Scottsdale Residences Llc legitimate?
Scottsdale Residences Llc is a legitimate nonprofit organization registered as a 501(c)(25) entity. Scottsdale Residences Llc 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.
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What is the mission statement of Scottsdale Residences Llc?
Scottsdale Residences LLC serves as a title holding corporation, falling under the category of IRC Section 501(c)(25). Its primary function is to hold title to real property on behalf of the Public Employees' Retirement System of Nevada (Retirement System). The organization collects the investment income generated from these properties and subsequently distributes it to the Retirement System. In essence, Scottsdale Residences LLC acts as an intermediary, managing real estate investments for the benefit of the retirement system.
Who is the CEO of Scottsdale Residences Llc?
Lee Phegley is the Vp/Sec of Scottsdale Residences Llc.
What is the revenue of Scottsdale Residences Llc?
Scottsdale Residences Llc's revenue in 2022 was $4,873,702.
Who are the executives of Scottsdale Residences Llc and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Scottsdale Residences Llc?
Scottsdale Residences Llc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Scottsdale Residences Llc
Scottsdale Residences LLC, as a title holding corporation within the parameters of IRC Section 501(c)(25), holds the title to real property on behalf of the public employees' retirement system of Nevada. This organization serves a crucial role in managing these properties, collecting the investment income generated from them, and then distributing this income to the retirement system. In essence, Scottsdale Residences LLC acts as a vital intermediary, leveraging its title-holding capacity to contribute to the retirement benefits of public employees in Nevada.
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Impact
October, 2024
Scottsdale Residences LLC plays a vital role in supporting the financial stability of the Public Employees' Retirement System of Nevada through its operations as a title holding corporation. By holding title to real properties, the organization facilitates the generation of investment income, which is crucial for funding the retirement benefits of public employees in Nevada. This ensures that public servants receive adequate retirement support, contributing to their overall financial well-being.
The impact of Scottsdale Residences LLC extends beyond just financial aspects; it also enhances community improvement by maintaining and managing properties that can potentially improve local real estate values and neighborhood conditions. By effectively managing real estate assets, the organization contributes to the stability and sustainability of the retirement system, ultimately benefiting public employees and the broader community in Nevada. This strategic approach not only secures retirement income but also fosters a more secure future for those who have dedicated their careers to public service.
This information is meant to be a general summary of Scottsdale Residences Llc. 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: $458
- Gross Receipts: $6,868,004
Assets and Liabilities:
- Total Assets: $144,794,412
- Total Liabilities: $813,531
- Net Assets: $143,980,881
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Organization Details
Founding Year
2016
Phone
(972) 715-7400Principal Officer
Lee Phegley
Main Address
2001 ROSS AVENUE SUITE 3400, DALLAS, TX, 75201
NTEE Category
Code: S47 - Community improvement
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