Overview
What is Community Development Buildings Corporation?
Community Development Buildings Corporation is a 501-c-2 nonprofit organization situated in San Antonio, Texas. Its primary function involves holding title to property on behalf of a 501-c-3 organization, acting as a sole member within the corporation. This role entails receiving rent payments from the property's lessee, a public charter school operator, and subsequently making necessary payments to creditors, including lien holders, note holders, insurance providers, and taxing entities. The organization's mission is to serve as a financial intermediary, collecting income from the property and transferring the proceeds, less expenses, to the beneficiary 501-c-3 organization.
Is Community Development Buildings Corporation legitimate?
Community Development Buildings Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Community Development Buildings 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:
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What is the mission statement of Community Development Buildings Corporation?
The Community Development Buildings Corporation is established as a 501-c-2 entity, with a primary objective of holding title to property and managing the income generated from it. This organization operates with the intention of transferring the net income, after deducting expenses, to another tax-exempt organization under Section 501(a) of the Internal Revenue Code. Its sole purpose is to provide a legal framework for property ownership, ensuring that payments are made to lien holders, note holders, insurance carriers, and taxing entities, while also forwarding the remaining income to the designated exempt organization. The organization primarily serves this function by holding title to property for a 501-c-3 organization, acting as a fiscal intermediary.
Who is the CEO of Community Development Buildings Corporation?
Guillermo Benevides is the Principal Officer of Community Development Buildings Corporation.
What is the revenue of Community Development Buildings Corporation?
Community Development Buildings Corporation's revenue in 2022 was $180,031.
Who are the executives of Community Development Buildings Corporation and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Community Development Buildings Corporation?
Community Development Buildings Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community Development Buildings Corporation
Community Development Buildings Corporation, a 501-c-2 organization, is established with a specific purpose. Its mission is to serve as a title holder for property, collecting income generated from the property, and subsequently distributing the earnings, minus expenses, to another organization that falls under Section 501(a) of the Internal Revenue Code of 1986 or any future federal tax code. This role allows the Corporation to support a 501-c-3 organization, its sole member, in its mission by providing it with a stable financial base. The Corporation's activities are focused on this single program service, ensuring the effective and efficient management of property-related matters on behalf of its affiliated nonprofit organization.
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Impact
October, 2024
Community Development Buildings Corporation plays a crucial role in enhancing community resources through its strategic property management activities. By holding title to property on behalf of a public charter school operator, it ensures that educational facilities are well-maintained and accessible to the community.
The Corporation manages financial transactions related to these properties, collecting income and efficiently distributing funds to meet obligations such as mortgage payments, insurance, and taxes. This structure not only supports the financial viability of the educational institution but also promotes stability within the community by facilitating the operation of public charter schools.
In essence, the organization serves as a backbone for the development and sustainability of community-centric initiatives, fostering improvements that benefit residents in San Antonio, Texas. Its singular focus on property management allows for the effective allocation of resources, ensuring that educational opportunities remain a priority for local families.
This information is meant to be a general summary of Community Development Buildings 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.
- Investment Income: $31
- Program Service Revenue: $180,000
- Gross Receipts: $180,031
Assets and Liabilities:
- Total Assets: $855,321
- Total Liabilities: $750,387
- Net Assets: $104,934
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rents
Revenue
$180,000
Organization Details
Founding Year
2017
Phone
(210) 400-3324Principal Officer
Guillermo Benevides
Main Address
PO Box 831624, San Antonio, TX, 78204
NTEE Category
Code: S47 - Community improvement
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