Overview
What is Famco?
Famco is a separate entity established under FreddieMac regulations, based in Stockton, California (95212). It serves as a property holder on behalf of Park Bixby Tower, Inc., a related organization. Famco's primary mission is to maintain real estate properties exclusively for the benefit of Park Bixby Tower, Inc., which is a non-profit religious corporation. This arrangement allows Famco to manage and preserve properties with the goal of supporting its related organization.
Is Famco legitimate?
Famco is a legitimate nonprofit organization registered as a 501(c)(3) entity. Famco 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 Famco?
Famco, as an independent entity, was established in accordance with FreddieMac regulations. Its primary mission is to manage and maintain properties for the exclusive benefit of Park Bixby Tower, Inc., a related non-profit religious corporation. Essentially, Famco serves as a property custodian for Park Bixby Tower, Inc., ensuring the upkeep and preservation of these assets. The organization's role is to safeguard the properties under its care, contributing to the well-being of Park Bixby Tower, Inc. by providing appropriate property management services.
What is the revenue of Famco?
Famco's revenue in 2024 was $548,443.
Who are the executives of Famco and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $215,388
- Other: $40,066
- Compensation: $0
- Related: $197,029
- Other: $58,018
- Compensation: $0
- Related: $15,800
- Other: $0
- Compensation: $0
- Related: $2,900
- Other: $0
- Compensation: $0
- Related: $2,900
- Other: $0
- Compensation: $0
- Related: $2,900
- Other: $0
- Compensation: $0
- Related: $2,900
- Other: $0
- Compensation: $0
- Related: $15,800
- Other: $0
Where can I find the form 990 for Famco?
Famco's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Famco
Famco, as a separate entity, was established in accordance with FreddieMac regulations. Its mission is to serve the exclusive benefit of Park Bixby Tower, Inc., a related non-profit religious corporation. This organization's primary role is to hold and maintain properties on behalf of Park Bixby Tower, Inc. By doing so, Famco contributes to the upkeep and preservation of these properties, thereby supporting the operations and goals of its affiliated non-profit organization.
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Impact
October, 2024
Famco plays a crucial role in supporting the real estate needs of Park Bixby Tower, Inc. by managing and holding properties specifically for its benefit. Operating within the framework set by Freddie Mac regulations, Famco ensures the effective stewardship of real estate assets, contributing to the stability and growth of Park Bixby Tower in Stockton, CA. By maintaining these properties, Famco fosters a sustainable environment that supports the mission and activities of the related organization, enhancing community well-being and accessibility to housing resources for those it serves. Through its dedicated focus on property management, Famco indirectly supports vital community services and initiatives tied to the mission of Park Bixby Tower, thus making a significant impact on the local housing landscape.
This information is meant to be a general summary of Famco. 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: $544,437
- Program Service Revenue: $92,264
- Gross Receipts: $548,443
Assets and Liabilities:
- Total Assets: $8,745,738
- Total Liabilities: $897,270
- Net Assets: $7,848,468
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME, NET
Revenue
$73,183
OTHER INCOME
Revenue
$19,081
Organization Details
Founding Year
2005
Principal Officer
Michael Wylie
NTEE Category
Code: L11 - Housing
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