Organizations Filed Purposes:
STOWERS REAL ESTATE HOLDING CORPORATION ("SREHC"), A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(2) OF THE CODE, IS ORGANIZED TO HOLD TITLE TO REAL PROPERTY, COLLECT THE INCOME THEREFROM, AND REMIT THE ENTIRE AMOUNT, LESS EXPENSES AND REASONABLY NECESSARY CASH RESERVES TO ITS TAX EXEMPT PARENT CORPORATION, STOWERS RESOURCE MANAGEMENT INC. ("SRM"). SRM IS A TAX EXEMPT SUPPORTING ORGANIZATION UNDER SECTION 501(C)(3) AND 509(A)(3) OF THE CODE. SRM IS THE SOLE MEMBER OF SREHC AND WILL CONTROL SREHC TO INSURE SREHC ACTIVITIES ARE CONSISTENT WITH SREHC'S EXEMPT PURPOSE WITHIN THE MEANING OF A CODE SECTION 501(C)(2) TITLE HOLDING COMPANY.
SREHC'S EXEMPT PURPOSE IS TO HOLD TITLE TO REAL PROPERTY AND REMIT INCOME LESS CASH RESERVES TO STOWERS RESOURCE MANAGEMENT INC. ("SRM"), ITS EXEMPT PARENT.
PER MISSION DESCRIBED IN FORM 990, PART III, LINE 1, SREHC ACTIVITIES ARE CONSISTENT WITH ITS EXEMPT PURPOSE WITHIN THE MEANING OF CODE SECTION 501(C)(2) TITLE HOLDING COMPANY. SREHC WAS INITIALLY FUNDED BY ITS TAX EXEMPT PARENT, SRM. DURING 2009, SREHC COMPLETED BUILDING RENOVATIONS ON PROPERTY RECEIVED AS A CONTRIBUTION IN 2008. THE RENOVATIONS MADE THE PROPERTY MORE SUITABLE FOR USE BY RELATED PARTIES. SREHC MAY LEASE REAL PROPERTY TO SRM AT COST OR FOR A NOMINAL AMOUNT OR LEASE PROPERTY AT COST TO TAX EXEMPT ORGANIZATIONS THAT ARE SUPPORTED BY SRM OR LEASE PROPERTY TO OTHER RELATED TAX EXEMPT ORGANIZATIONS AND FOR-PROFIT ORGANIZATIONS THAT ARE WHOLLY-OWNED BY RELATED TAX EXEMPT ORGANIZATIONS. SREHC MAY ALSO LEASE REAL PROPERTY TO UNRELATED PARTIES AT FAIR MARKET VALUE. IN 2009, SREHC EXECUTED A LEASE FOR USE OF THE PROPERTY TO STOWERS INSTITUTE FOR MEDICAL RESEARCH ("SIMR"); SIMR IS A RELATED TAX EXEMPT ORGANIZATION THAT IS SUPPORTED BY SRM. SREHC HAD NO OTHER LEASE AGREEMENTS IN PLACE AS OF 12/31/19.
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 |
|---|
| David A Welte | DIRECTOR/SECRETARY | 1 | $0 |
| Roderick L Sturgeon | DIRECTOR/PRESIDENT | 1 | $0 |
| Richard W Brown | DIRECTOR | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202042309349303164_public.xml