Overview
What is Galaxy Ii Concord Corporation?
Galaxy II Concord Corporation serves as a Title Holding Company, specialized in managing rental real estate properties. Based in Los Angeles, CA, the company holds the legal ownership of real estate properties on behalf of an exempt organization. Its primary responsibility includes managing income, expenses, and submitting any surplus income to the exempt organization. In essence, Galaxy II Concord Corporation acts as a financial custodian for these properties, ensuring their effective and efficient management for the benefit of the exempt organization.
Is Galaxy Ii Concord Corporation legitimate?
Galaxy Ii Concord Corporation is a legitimate nonprofit organization registered as a 501(c)(25) entity. Galaxy Ii Concord Corporation 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 Galaxy Ii Concord Corporation?
Galaxy II Concord Corporation serves as a Title Holding Company, managing rental real estate on behalf of an exempt organization. Its primary role is to maintain legal ownership of real property and oversee income, expenses, and the submission of any excess income to the exempt organization. Essentially, Galaxy II Concord Corporation acts as a financial intermediary, ensuring the efficient management of the real estate assets for the benefit of the exempt organization.
Who is the CEO of Galaxy Ii Concord Corporation?
Scott Darling is the Chairman & Ceo of Galaxy Ii Concord Corporation. The CEO's salary of Galaxy Ii Concord Corporation is $0 and their total compensation is $0.
What is the revenue of Galaxy Ii Concord Corporation?
Galaxy Ii Concord Corporation's revenue in 2022 was -$203,604.
Who are the executives of Galaxy Ii Concord Corporation and what are their salaries?
There 2 volunteers at Galaxy Ii Concord Corporation.
Here are 3 key members and their salaries (Galaxy Ii Concord Corporation's CEO's salary is $0 and their total compensation is $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 Galaxy Ii Concord Corporation?
Galaxy Ii Concord Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Galaxy Ii Concord Corporation
Galaxy II Concord Corporation serves as a Title Holding Company, focusing on managing rental real estate. In this role, the company holds the legal ownership of real estate properties on behalf of an exempt organization. Galaxy II Concord Corporation's primary responsibility is to oversee the income generation, manage expenses, and submit any surplus income to the exempt organization it represents. By fulfilling this mission, the company contributes to the financial well-being of the exempt organization, effectively managing its rental properties.
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Impact
October, 2024
Galaxy II Concord Corporation plays a significant role in managing and optimizing rental real estate in Los Angeles, CA. As a title holding company, it ensures the legal ownership of properties for an exempt organization, effectively streamlining the management of income and expenses associated with these assets. This structure enables efficient financial oversight and the ability to allocate any excess income generated back to the exempt organization, supporting its mission and community initiatives.
By maintaining a focus on community improvement, Galaxy II Concord Corporation contributes to the local economy, facilitating affordable housing options and contributing to neighborhood stability. Their operations not only enhance property management practices but also ensure that the benefits derived from these real estate assets are reinvested into the community, furthering social and economic development goals in the area.
This information is meant to be a general summary of Galaxy Ii Concord Corporation. 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.
- Gross Receipts: $2,237,933
Assets and Liabilities:
- Total Assets: $24,852,182
- Total Liabilities: $3,929,611
- Net Assets: $20,922,571
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Organization Details
Founding Year
2013
Phone
(213) 233-5700Principal Officer
Scott Darling
Main Address
515 S Flower St 49th Floor, Los Angeles, CA, 90071
NTEE Category
Code: S47 - Community improvement
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