Overview
What is Family Assets Holdings Inc?
Family Assets Holdings Inc is a corporation established primarily for the purpose of managing property. It collects income generated from these properties and subsequently transfers the entire income, minus expenses, to a charitable organization that falls under the exempt category of the Internal Revenue Code Section 501(a). The corporation's role is to act as a steward for these properties, ensuring the income generated is used for charitable purposes.
Is Family Assets Holdings Inc legitimate?
Family Assets Holdings Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Family Assets Holdings 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 Family Assets Holdings Inc?
Family Assets Holdings Inc is established with a specific purpose. Its primary role is to hold property titles and generate income from these properties. The corporation then transfers the entire income, after deducting expenses, to an exempt organization under the Internal Revenue Code Section 501(a). This organization utilizes the funds for its charitable activities. In essence, Family Assets Holdings Inc serves as a financial intermediary, supporting the work of exempt organizations.
Who is the CEO of Family Assets Holdings Inc?
Theodore T Winsley Sr is the President of Family Assets Holdings Inc.
What is the revenue of Family Assets Holdings Inc?
Family Assets Holdings Inc's revenue in 2022 was -$132,751.
Who are the executives of Family Assets Holdings Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Family Assets Holdings Inc?
Family Assets Holdings Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Family Assets Holdings Inc
Family Assets Holdings Inc is established with a specific purpose. This organization is organized to hold title to property and collect income derived from it. The primary objective of Family Assets Holdings Inc is to then transfer the entire income, after deducting expenses, to another organization that is exempt under the Internal Revenue Code section 501(a). This corporation's mission is to serve as a financial intermediary, channeling income to a nonprofit organization that shares its tax-exempt status.
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Impact
October, 2024
Family Assets Holdings Inc significantly impacts community improvement by effectively managing property assets and generating income that supports exempt organizations. By holding title to various properties, the organization ensures that these assets are utilized efficiently, contributing to the local economy. The income collected from these properties is redirected to support initiatives and programs that are aligned with charitable and community-focused missions.
This structure allows Family Assets Holdings Inc to play a crucial role in enhancing the capacity of exempt organizations, providing them with the necessary financial resources to implement programs that benefit the community. By facilitating investments into areas such as housing, education, and social services, the organization strengthens the fabric of the community in Voorhees, NJ, and potentially beyond, fostering an environment that encourages growth and development.
This information is meant to be a general summary of Family Assets Holdings 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.
- Investment Income: $2
- Gross Receipts: $38,009
Assets and Liabilities:
- Total Assets: $3,948,836
- Total Liabilities: $4,381,331
- Net Assets: -$432,495
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Organization Details
Founding Year
2017
Phone
(609) 519-4443Principal Officer
Theodore T Winsley Sr
Main Address
333 PRESTON AVENUE UNIT 2, VOORHEES, NJ, 08043
NTEE Category
Code: S47 - Community improvement
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