Overview
What is Sip Inc?
Sip Inc is a nonprofit organization situated in Joliet, Illinois, with an address at 2300 Glenwood Avenue. Its primary function is to manage property titles and generate income from these properties. The organization's mission is to collect income derived from these properties and subsequently transfer the total amount, after deducting expenses, to Service, Inc of Illinois. In essence, Sip Inc serves as a mediator, managing property titles and distributing the income generated to its affiliated organization.
Official website here: www.svcincofil.org
Is Sip Inc legitimate?
Sip Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Sip 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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Official website here: www.svcincofil.org
What is the mission statement of Sip Inc?
Sip Inc's primary role is to manage property assets. The organization collects income generated from these properties and then transfers the net earnings, after deducting expenses, to Service, Inc of Illinois. In essence, Sip Inc serves as a property management entity that funnels its earnings to another organization for utilization. This function is central to Sip Inc's operations, contributing to its overall financial support of Service, Inc of Illinois.
Official website here: www.svcincofil.org
Who is the CEO of Sip Inc?
Daniel Coffey is the CEO of Sip Inc The CEO's salary of Sip Inc is $0 and their total compensation is $284,548.
Official website here: www.svcincofil.org
What is the revenue of Sip Inc?
Sip Inc's revenue in 2024 was $104,870.
Official website here: www.svcincofil.org
Who are the executives of Sip Inc and what are their salaries?
There 4 volunteers at Sip Inc.
Here are 6 key members and their salaries (Sip Inc's CEO's salary is $0 and their total compensation is $284,548):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $256,703
- Other: $27,845
- Compensation: $0
- Related: $163,236
- Other: $23,963
Official website here: www.svcincofil.org
Where can I find the form 990 for Sip Inc?
Sip Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.svcincofil.org
Learn more at the official website: www.svcincofil.org
Mission Statement of Sip Inc
Sip Inc, as a nonprofit organization, is tasked with managing property and generating income from it. This income is then meticulously managed, with any expenses deducted, before the remaining amount is transferred to Service, Inc of Illinois in its entirety. In essence, Sip Inc serves as a conduit, channeling income derived from its property holdings to another organization, with a focus on financial efficiency and transparency.
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Impact
October, 2024
Sip Inc has a significant impact on the community by managing properties that generate income. By holding title to these properties, Sip Inc ensures a continuous flow of resources that can be redirected to Service, Inc of Illinois. This approach not only promotes financial stability but also contributes to broader community improvement initiatives. The funds collected are used effectively to support various programs and services, ultimately enhancing the quality of life for residents in Joliet, Illinois. The focus on collecting income while managing expenses allows Sip Inc to maximize the resources available for community development, fostering a more vibrant and sustainable environment.
This information is meant to be a general summary of Sip 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 2024.
- Investment Income: $91,165
- Gross Receipts: $225,540
Assets and Liabilities:
- Total Assets: $1,076,179
- Total Liabilities: $1,076,179
- Net Assets: $0
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Organization Details
Founding Year
2020
Principal Officer
Daniel Coffey
Website
www.svcincofil.orgNTEE Category
Code: S47 - Community improvement
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