Overview
What is Sigma Phi Epsilon Building Corp Of Seattle Washington?
Sigma Phi Epsilon Building Corp of Seattle Washington is a nonprofit organization that manages property and generates income, with the profits being directed towards a tax-exempt parent organization under Section 501(c) of the IRS code. They hold title to the property and collect rent from the Sigma Phi Epsilon fraternity, an organization also falling under Section 501(c), to maintain and preserve the property's assets. This corporation's primary activity is property management, ensuring the property is well-maintained and contributing to the parent organization's objectives.
Is Sigma Phi Epsilon Building Corp Of Seattle Washington legitimate?
Sigma Phi Epsilon Building Corp Of Seattle Washington is a legitimate nonprofit organization registered as a 501(c)(2) entity. Sigma Phi Epsilon Building Corp Of Seattle Washington 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 Sigma Phi Epsilon Building Corp Of Seattle Washington?
The mission of Sigma Phi Epsilon Building Corp, in essence, revolves around managing a property and its associated income. Their primary objective is to maintain the asset's value by utilizing the income generated from renting the property. The corporation, as per its mission, holds the property title and channels the profits to a tax-exempt organization under Section 501(c) of the code. Additionally, they rent the property to Sigma Phi Epsilon, an organization also exempt under Section 501(c) of the code, demonstrating their commitment to supporting like-minded organizations.
What is the revenue of Sigma Phi Epsilon Building Corp Of Seattle Washington?
Sigma Phi Epsilon Building Corp Of Seattle Washington's revenue in 2023 was $60,856.
Who are the executives of Sigma Phi Epsilon Building Corp Of Seattle Washington and what are their salaries?
There 4 volunteers at Sigma Phi Epsilon Building Corp Of Seattle Washington.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Sigma Phi Epsilon Building Corp Of Seattle Washington?
Sigma Phi Epsilon Building Corp Of Seattle Washington's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Sigma Phi Epsilon Building Corp Of Seattle Washington
Sigma Phi Epsilon Building Corp of Seattle Washington's primary mission is centered around the management of a specific property. The corporation holds the title of this property and derives income from it. This income is then used to maintain and preserve the assets associated with the property. The corporation's funds are further channeled to an organization that is tax-exempt under Section 501(c) of the code. It should be noted that the corporation rents out the property to Sigma Phi Epsilon, a fraternity also recognized as tax-exempt under Section 501(c) of the code. In essence, Sigma Phi Epsilon Building Corp of Seattle Washington serves as a property manager, ensuring its financial resources are utilized effectively to maintain the property and contribute to the activities of its tax-exempt partner organization.
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Impact
October, 2024
Sigma Phi Epsilon Building Corp of Seattle, Washington plays a significant role in supporting the Sigma Phi Epsilon fraternity by managing property assets effectively. By holding the title to property and managing rental income, the organization ensures that essential resources are available for the fraternity’s operations.
The funds collected from these activities are utilized for property maintenance and enhancements, ensuring that the physical environment where fraternity activities occur remains conducive to community engagement and growth. This not only supports the fraternity's events but also positively impacts the broader community by maintaining a stable and well-managed property.
Through its operations, Sigma Phi Epsilon Building Corp contributes to the sustainability of the fraternity, allowing it to focus on its mission of fostering brotherhood, scholarship, and community service. Overall, the organization facilitates the continued development of a supportive network for its members, highlighting its importance in the local area.
This information is meant to be a general summary of Sigma Phi Epsilon Building Corp Of Seattle Washington. 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.
- Gross Receipts: $740,698
Assets and Liabilities:
- Total Assets: $5,946,250
- Total Liabilities: $0
- Net Assets: $5,946,250
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Organization Details
Founding Year
1922
Principal Officer
Clayton Hunter
NTEE Category
Code: S47 - Community improvement
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