Palm Beach Industrial Park Ii Inc
- Assets
- $3.7m
- Revenue
- $594.1k
- Investments
- $0.0
- Employees
- 3
- Location
- North Palm Beach, FL
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 37-1732764
Organization Overview
Palm Beach Industrial Park Ii Inc is located in North Palm Beach, FL. The organization was established in 2014. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Palm Beach Industrial Park Ii Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palm Beach Industrial Park Ii Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2021, Palm Beach Industrial Park Ii Inc generated $594.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $381.7k during the year ending 12/2021. While expenses have increased by 10.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD TITLE TO REAL PROPERTY AND TURN OVER PROFITS FROM RENTAL ACTIVITY TO THE PARENT EXEMPT ORGANIZATION THE LEO, CLAIRE & ROBERT ADENBAUM FOUNDATION (EIN: 11-6013398)
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ONLY PROGRAM SERVICE ACCOMPLISHMENT OF THE ORGANIZATION IS THE COLLECTION OF RENTS, PAYMENTS FOR ORDINARY AND NECESSARY EXPENSES TO MAINTAIN THE RENTAL PROPERTY, AND THE REMITTANCE OF THE EXCESS TO THE ADENBAUM FOUNDATION FOR THE PURPOSES OF FULFILLING THE DONATION 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, 2021 WERE $212,388. DURING THE CURRENT TAX YEAR, THE ORGANIZATION HAS REMITTED THE REMAINING NET RENTAL INCOME FROM TAX YEAR 2020 IN THE AMOUNT OF $19,798. AND HAS PAID $194,198 OF 2021 RENTAL PROFITS TO THE ADENBAUM FOUNDATION AS OF THE END OF THE CALENDAR YEAR 2021. THE BALANCE OF $18,190 WILL BE PAID IN CALANEDAR YEAR 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerhard Jakits President | OfficerTrustee | 20 | $60,491 |
Geroge Stechel Vice President | OfficerTrustee | 20 | $60,491 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $594,053 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $594,053 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $120,982 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $83,291 |
| Fees for services: Accounting | $11,601 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,126 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $113,733 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $381,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,479,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $125,555 |
| Other assets | $90,713 |
| Total assets | $3,695,592 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $100,280 |
| Total liabilities | $100,280 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $3,576,201 |
| Retained earnings, endowment, accumulated income, or other funds | $19,111 |
| Total liabilities and net assets/fund balances | $3,695,592 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Healthcare Charity Inc Palm Beach Gardens, FL | $5,074,981 | $9,745,793 |
Don And Angie Seta Foundation Boca Raton, FL | $0 | $7,457,065 |
The Savannah Community Foundation Inc Savannah, GA | $54,173,792 | $9,998,384 |
National Cancer Assistance Foundation Inc Daytona Beach, FL | $587,584 | $4,501,111 |
The Giving Kitchen Initiative Inc Atlanta, GA | $5,202,127 | $3,829,430 |
The Ironman Foundation Inc Tampa, FL | $9,463,048 | $2,918,187 |
Norcross Foundation Inc Jacksonville, FL | $12,948,336 | $5,280,220 |
All Star Childrens Foundation Inc Sarasota, FL | $12,316,461 | $3,561,174 |
Point Gammon Foundation Palm Beach, FL | $4,923,051 | $4,318,443 |
The Charlie & Moll Anderson Foundation Florence, AL | $11,730,320 | $5,057,663 |
Little Kings And Queens Inc Buford, GA | $180,816 | $1,313,209 |
Latham Foundation Atlanta, GA | $1,091,516 | $917,015 |