Overview
What is Capri Real Estate Holding Company?
Capri Real Estate Holding Company is a nonprofit organization with a specific purpose. It primarily exists to support and aid Plymouth Christian Youth Center (PCYC), a Minnesota-based nonprofit organization. The company derives its income primarily from rental payments made by PCYC for leased assets, specifically the Capri Theater. Its expenses primarily consist of interest payments on loans used for the theater's renovation and expansion, as well as depreciation costs associated with the renovated assets. The organization's mission aligns with charitable, religious, and educational objectives, aiming to further the goals and functions of Plymouth Youth Christian Center.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (65%)
Capri Real Estate Holding Company has received a two-star rating from Charity Navigator, indicating a need for improvement. The organization excels in areas such as independent board governance and program expense ratio, achieving perfect scores for both. However, the overall score reflects significant concerns, particularly regarding financial transparency and governance policies.
While the nonprofit has a strong accountability framework with all board members being independent, it falls short in key areas such as missing policies on whistleblower protection and document retention. Additionally, the high liabilities to assets ratio suggests potential financial instability, which may pose risks for sustainability.
Furthermore, critical information such as the organization's website is not listed on its tax form, raising questions about accessibility and transparency. These limitations highlight the need for Capri Real Estate Holding Company to strengthen its governance practices and improve its financial reporting to better serve its mission and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Capri Real Estate Holding Company legitimate?
Capri Real Estate Holding Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Capri Real Estate Holding 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
For more financial information, click here
What is the mission statement of Capri Real Estate Holding Company?
The Capri Real Estate Holding Company is established for charitable, religious, and educational purposes, primarily to support and aid in the functions of Plymouth Youth Christian Center, a Minnesota-based nonprofit organization. The company's mission is to benefit this center and assist in carrying out its purposes. The organization operates solely for the benefit of Plymouth Christian Youth Center (PCYC), deriving income from rental payments made by PCYC for leased assets. Expenses include interest on New Markets Tax Credit loans used to finance the Capri Theater's renovation and expansion, as well as depreciation on associated fixed assets.
Who is the CEO of Capri Real Estate Holding Company?
Matt Hagen is the President of Capri Real Estate Holding Company.
What is the revenue of Capri Real Estate Holding Company?
Capri Real Estate Holding Company's revenue in 2022 was $178,012.
Who are the executives of Capri Real Estate Holding Company and what are their salaries?
There 4 volunteers at Capri Real Estate Holding Company.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $41,771
- Other: $5,449
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Capri Real Estate Holding Company?
Capri Real Estate Holding Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Capri Real Estate Holding Company
Capri Real Estate Holding Company is established with charitable, religious, and educational objectives in mind. Its primary mission is to support and assist in carrying out the purposes of Plymouth Youth Christian Center, a Minnesota-based nonprofit organization. This support extends to helping the center function effectively in achieving its own objectives. The company's source of income comes from rental payments made by Plymouth Christian Youth Center (PCYC) for the lease of the Capri Theater's assets. Capri Real Estate Holding Company's expenses primarily consist of interest payments on New Markets Tax Credit loans, which were used to finance the renovation and expansion of the Capri Theater, as well as depreciation on the fixed assets associated with the renovation project. In essence, Capri Real Estate Holding Company serves as a benefactor and facilitator, aiding Plymouth Youth Christian Center in its mission.
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Impact
October, 2024
Capri Real Estate Holding Company significantly impacts its community by providing essential support to the Plymouth Youth Christian Center (PYCC) through the operation and management of the Capri Theater. By leasing the theater to PYCC, the organization ensures that vital programs focused on charitable, religious, and educational purposes can thrive.
The revenue generated from this rental arrangement helps finance operational costs and renovations of the theater, allowing PYCC to utilize this space effectively for its community initiatives. This partnership not only sustains a historical venue but also fosters a safe and engaging environment for youth and families in the Minneapolis area.
Through the strategic use of New Markets Tax Credit loans for the renovation and expansion of the Capri Theater, the organization has optimized its resources to enhance the facility, thereby amplifying its role as a hub for community engagement and development. Moreover, the theater serves as a focal point for various activities that align with the mission of PYCC, ultimately contributing to the spiritual and educational enrichment of the surrounding community.
This information is meant to be a general summary of Capri Real Estate Holding 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.
- Investment Income: $12
- Program Service Revenue: $178,000
- Gross Receipts: $178,012
Assets and Liabilities:
- Total Assets: $11,284,325
- Total Liabilities: $10,634,708
- Net Assets: $649,617
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$178,000
Organization Details
Founding Year
2019
Phone
(612) 522-6501Principal Officer
Matt Hagen
Main Address
2210 OLIVER AVE NORTH, MINNEAPOLIS, MN, 55411
NTEE Category
Code: X19 - Religion related
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