Overview
What is 1848 Properties Inc?
1848 Properties Inc is a nonprofit organization based in Lexington, Kentucky, with an address at 1201 Red Mile Road. Its primary purpose is to manage property and generate income, which it then transfers to its sole member, Phi Gamma Delta Fraternity, Inc., a non-profit organization exempt from federal income tax under Internal Revenue Code Section 501(C)(7). The income collected is used to support the activities of Phi Gamma Delta Fraternity, Inc., contributing to its mission and goals.
Is 1848 Properties Inc legitimate?
1848 Properties Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. 1848 Properties 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:
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What is the mission statement of 1848 Properties Inc?
1848 Properties Inc is organized with the primary purpose of managing property holdings. The corporation collects income generated from these properties and subsequently transfers the entire earnings, after deducting expenses, to its sole member, Phi Gamma Delta Fraternity Inc., a non-profit organization exempt from federal income tax under Internal Revenue Code Section 501(C)(7). In essence, 1848 Properties Inc serves as a financial intermediary for Phi Gamma Delta Fraternity Inc., facilitating income generation and distribution.
Who is the CEO of 1848 Properties Inc?
Rob Caudill is the President of 1848 Properties Inc.
What is the revenue of 1848 Properties Inc?
1848 Properties Inc's revenue in 2023 was -$6,592.
Who are the executives of 1848 Properties Inc and what are their salaries?
Here are 6 key members and their salaries:
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- Related: $249,662
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Where can I find the form 990 for 1848 Properties Inc?
1848 Properties Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of 1848 Properties Inc
1848 Properties Inc, as a corporation, is dedicated to a specific purpose. It holds property titles and collects income derived from these properties. The corporation then forwards the total income, after deducting expenses, to its sole member, Phi Gamma Delta Fraternity, Inc. This fraternity is a non-profit organization exempt from federal income tax under Section 501(C)(7) of the Internal Revenue Code. Essentially, 1848 Properties Inc serves as a financial intermediary, channeling income from its property holdings to its beneficiary, the Phi Gamma Delta Fraternity, Inc.
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Impact
October, 2024
1848 Properties Inc plays a significant role in supporting the financial infrastructure of the Phi Gamma Delta Fraternity by holding and managing property assets. By collecting income generated from these properties, the organization enables the fraternity to benefit from a reliable revenue stream that can be reinvested into fraternity activities, services, and member support.
Located in Lexington, KY, 1848 Properties Inc primarily focuses on the sustainable management of its real estate holdings, ensuring that all proceeds, after covering necessary expenses, are directed to the fraternity. This setup not only enhances the fraternity's operational capabilities but also contributes to its long-term financial health.
The impact is particularly pronounced in fostering a sense of community and recreational opportunities among fraternity members. By providing resources that support social, educational, and recreational activities, 1848 Properties Inc significantly enriches the fraternity experience and strengthens member engagement and camaraderie. The organization's commitment to its mission ultimately reflects a dedication to enhancing the overall quality of life for its members.
This information is meant to be a general summary of 1848 Properties 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 2023.
- Investment Income: -$6,592
- Gross Receipts: $152,031
Assets and Liabilities:
- Total Assets: $273,806
- Total Liabilities: $30
- Net Assets: $273,776
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Organization Details
Founding Year
2017
Phone
(859) 255-1848Principal Officer
Rob Caudill
Main Address
1201 RED MILE ROAD, LEXINGTON, KY, 40504
NTEE Category
Code: N02 - Recreation
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