Organizations Filed Purposes:
THE ORGANIZATION'S MISSION IS TO HOLD TITLE TO REAL PROPERTY AND TURN OVER GROSS RENTS, LESS ORDINARY AND NECESSARY EXPENSES TO THE PARENT EXEMPT ORGANIZATION, THE LEO, CLAIRE & ROBERT ADENBAUM FOUNDATION (HEREINAFTER, "ADENBAUM FOUNDATION"), EIN: 11-6013398.
THE ONLY PROGRAM SERVICE ACCOMPLISHMENT OF THE ORGANIZATION IS THE COLLECTION OF RENTS, PAYMENTS OF ORDINARY AND NECESSARY EXPENSES, AND THE REMITTANCE OF THE EXCESS TO THE ADENBAUM FOUNDATION FOR PURPOSES OF FULFILLING THE DONATIVE INTENT OF THE ADENBAUM FOUNDATION. THE NET RENTS COLLECTED ARE DETERMINED ANNUALLY AND THE ORGANIZATION REMITS THE TOTAL AMOUNT TO THE ADENBAUM FOUNDATION IN THE SUCCEEDING TAX YEAR. NET RENTS FOR THE YEAR ENDED DECEMBER 31, 2014 WERE $153,936. DURING THE CURRENT TAX YEAR, THE ORGANIZATION HAS REMITTED THE NET RENTAL INCOME FROM TAX YEAR 2014 IN THE AMOUNT OF $20,815. FOR TAX YEAR ENDED DECEMBER 31, 2015, THE ORGANIZATION HAS ACHIEVED NET RENTAL INCOME OF $153,936. THE ORGANIZATION HAS PAID $104,435 OF CURRENT YEAR NET RENTAL INCOME TO THE ADENBAUM FOUNDATION AS OF THE END OF THE CALENDAR YEAR. THE REMAINING BALANCE OF 2015 NET RENTAL INCOME OF $49,501 WILL BE REMITTED IN 2016.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Gerhard Jakits | PRESIDENT | 20 | $50,000 |
| George Stechel | VICE-PRESIDENT | 20 | $50,000 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201623199349308482_public.xml