Overview
What is New Century Academy Affiliated Building Company?
New Century Academy Affiliated Building Company is a nonprofit organization, established to support New Century Academy, a Minnesota public charter school. Recognized as exempt from federal income taxation under Section 501(C)(3) of the Internal Revenue Code, the company's primary mission is to hold real estate in support of the school. Once a facility is acquired, 100% of the net income is utilized for the school's benefit. The company's board members are unpaid volunteers, demonstrating their commitment to the school's success. In March 2021, they purchased a building to contribute to the school's operations.
Is New Century Academy Affiliated Building Company legitimate?
New Century Academy Affiliated Building Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Century Academy Affiliated Building Company 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 New Century Academy Affiliated Building Company?
The New Century Academy Affiliated Building Company's mission is primarily focused on supporting the New Century Academy, a Minnesota public charter school. This support is achieved through holding real estate. Once a property is acquired, the company utilizes its net income exclusively for the school's benefit. The company's board members serve as unpaid volunteers. In March 2021, the Building Company expanded its support by purchasing a new building.
Who is the CEO of New Century Academy Affiliated Building Company?
Cindy Haugland is the Chair of New Century Academy Affiliated Building Company.
What is the revenue of New Century Academy Affiliated Building Company?
New Century Academy Affiliated Building Company's revenue in 2022 was $375,000.
Who are the executives of New Century Academy Affiliated Building Company and what are their salaries?
There 3 volunteers at New Century Academy Affiliated Building Company.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $89,228
- Other: $7,254
Where can I find the form 990 for New Century Academy Affiliated Building Company?
New Century Academy Affiliated Building Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New Century Academy Affiliated Building Company
New Century Academy Affiliated Building Company, as its name suggests, exists solely to support New Century Academy, a Minnesota public charter school recognized as exempt from federal income taxation under Section 501(C)(3) of the Internal Revenue Code of 1986. The Building Company's mission is to hold real estate, using its net income entirely to further the School's objectives. The unpaid volunteer board members of the Building Company played a role in acquiring a building in March 2021, demonstrating their commitment to the School's success. The Building Company's primary objective is to contribute to the School's growth and development by leveraging its real estate holdings. The Company's activities are aligned with its mission, aiming to provide essential support to New Century Academy.
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Impact
October, 2024
New Century Academy Affiliated Building Company plays a crucial role in supporting New Century Academy by managing real estate resources essential for the school's operations. Established with the primary mission of holding property to benefit the educational institution, the company acquired a building in March 2021, which serves as a vital asset for the academy.
The impact of the Building Company is significant as it ensures that 100% of the net income generated from its real estate holdings is redirected to support the school's educational programs and initiatives. This financial support enables the academy to enhance its curriculum, provide necessary resources, and create a conducive learning environment for students.
By having a dedicated entity focused on real estate, New Century Academy can secure stable and reliable funding, which is essential for maintaining and improving the quality of education it offers. The commitment of unpaid volunteer board members further emphasizes the organization's dedication to prioritizing the school's needs over personal compensation, illustrating a community-oriented approach to education.
In summary, New Century Academy Affiliated Building Company's impact is felt through its support of New Century Academy, enhancing the school's ability to provide quality education and fostering a positive educational experience for its students.
This information is meant to be a general summary of New Century Academy Affiliated Building Company. 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: $375,000
- Gross Receipts: $375,000
Assets and Liabilities:
- Total Assets: $4,575,242
- Total Liabilities: $4,570,688
- Net Assets: $4,554
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$375,000
Organization Details
Founding Year
2017
Phone
(320) 234-3660Principal Officer
Cindy Haugland
Main Address
950 SCHOOL RD SW, HUTCHINSON, MN, 55350
NTEE Category
Code: B11 - Education
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