Palm Beach Industrial Park Ii

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, 2022 were $398,708. During the current tax year, the organization has remitted the remaining net rental income from tax year 2021 in the amount of $18,190. And has paid $398,708 of 2022 rental profits to the adenbaum foundation as of the end of the calendar year 2022.