Overview
What is 701-703 Mccarter Holding Company Inc?
701-703 Mccarter Holding Company Inc is a nonprofit organization situated in Newark, New Jersey. Its primary function is to manage property titles and generate income through rentals. This income is then distributed annually to its related, tax-exempt member entities, after accounting for expenses. The organization's mission is centered around real estate management, with the primary goal of generating revenue for its affiliated entities.
Is 701-703 Mccarter Holding Company Inc legitimate?
701-703 Mccarter Holding Company Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. 701-703 Mccarter Holding Company 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: $0
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What is the mission statement of 701-703 Mccarter Holding Company Inc?
701-703 Mccarter Holding Company Inc has been established with a specific purpose. Its primary objective is to manage property titles and generate income from them. Each year, the company retains a portion for expenses and then distributes the remaining income in its entirety to its affiliated entities. These entities are tax-exempt under IRC Sections 501c5 and 501c9. The company's operations primarily involve collecting rental income, which it utilizes to support its associated organizations.
Who is the CEO of 701-703 Mccarter Holding Company Inc?
Albert Arroyo is the President of 701-703 Mccarter Holding Company Inc.
What is the revenue of 701-703 Mccarter Holding Company Inc?
701-703 Mccarter Holding Company Inc's revenue in 2022 was $260,397.
Who are the executives of 701-703 Mccarter Holding Company Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $214,188
- Other: $0
- Compensation: $0
- Related: $156,176
- Other: $0
- Compensation: $0
- Related: $125,779
- Other: $0
- Compensation: $0
- Related: $125,594
- Other: $0
Where can I find the form 990 for 701-703 Mccarter Holding Company Inc?
701-703 Mccarter Holding Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 701-703 Mccarter Holding Company Inc
701-703 Mccarter Holding Company Inc, as stated in its organizational purpose, is primarily established to manage property titles and generate income from them. The corporation's mission involves collecting rental income and annually distributing the entire sum, adjusted for expenses, to its affiliated entities. These related entities hold tax-exempt status under the Internal Revenue Code sections 501c5 and 501c9. In essence, 701-703 Mccarter Holding Company Inc serves as a financial intermediary, channeling its income to its tax-exempt members to support their operations. Although the information provided does not specify the nature of the programs these entities undertake, it is clear that the corporation's purpose is to financially sustain its tax-exempt members through income generated from property ownership.
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Impact
October, 2024
701-703 Mccarter Holding Company Inc plays a crucial role in supporting community improvement and the financial sustainability of related entities. By holding titles to properties in Newark, NJ, the company collects rental income, which is essential for financing programs and services that benefit union members. This income is strategically redistributed to its Members after covering necessary expenses, ensuring that the funds are utilized effectively within the community.
The structure of the organization allows for a focused mission that aids in stabilizing the finances of its affiliated entities, which are tax-exempt under relevant IRS sections. As a result, the company not only contributes to the local economy through property management and income generation but also reinforces the financial backbone of organizations that support workers' rights and benefits.
Overall, 701-703 Mccarter Holding Company Inc's impact extends beyond property management; it facilitates economic empowerment for union members and fosters a community-oriented approach that enhances the quality of life in Newark.
This information is meant to be a general summary of 701-703 Mccarter Holding Company 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.
- Gross Receipts: $260,397
Assets and Liabilities:
- Total Assets: $2,953,810
- Total Liabilities: $19,064
- Net Assets: $2,934,746
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Organization Details
Founding Year
2016
Phone
(973) 735-6464Principal Officer
Albert Arroyo
Main Address
701-703 MCCARTER HIGHWAY, NEWARK, NJ, 07102
NTEE Category
Code: S47 - Community improvement
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