Buteux Holdings Corporation

Organization Overview

Buteux Holdings Corporation is located in Bay St Louis, MS. The organization was established in 1992. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buteux Holdings Corporation 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 06/2023, Buteux Holdings Corporation generated $47.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.4%) each year. All expenses for the organization totaled $113.4k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (13.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

OPERATES EXCLUSIVELY FOR THE PURPOSE OF HOLDING TITLE TO REAL PROPERTY, COLLECTING INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO ITS SOLE MEMBER, BROTHERS OF THE SACRED HEART, IN ORDER TO PROVIDE SUPPORT AND INCOME FOR THE EDUCATIONAL, RELIGIOUS AND CHARITABLE PURSUITS OF THAT ORGANIZATION .

Describe the Organization's Program Activity:

Part 3 - Line 4a

BUTEUX HOLDINGS CORPORATION IS ORGANIZED ON A MEMBERSHIP BASIS. THE BROTHERS OF THE SACRED HEART, INC., A 501 (C)(3) ORGANIZATION, IS THE SOLE MEMBER. THERE ARE NO CERTIFICATES OF MEMBERSHIP. BUTEUX HOLDINGS CORPORATION IS ORGANIZED PURSUANT TO SECTION 79-11-101, ET SEQ, OF THE MISSISSIPPI CODE OF 1972, AND IS INTENDED TO QUALIFY AS A TAX EXEMPT CORPORATION PURSUANT TO SECTION 501(C)(2) OF THE CODE, AND IT SHALL BE OPERATED EXCLUSIVELY FOR THE PURPOSE OF HOLDING TITLE TO REAL PROPERTY. COLLECTING INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO ITS SOLE MEMBER, BROTHERS OF THE SACRED HEART, A RELIGIOUS AND CHARITABLE LOUISIANA NON-PROFIT CORPORATION EXEMPT FROM TAXATION PURSUANT TO SECTION 501(C)(3) OF THE CODE, IN ORDER TO PROVIDE SUPPORT AND INCOME FOR THE EDUCATIONAL, RELIGIOUS AND CHARITABLE PURSUITS OF THAT ORGANIZATION. IN CONNECTION WITH THE FOREGOING, THE CORPORATION MAY GENERALLY PERFORM ANY ACT WHICH IS INCIDENTAL AND NECESSARY TO THE OBJECTS AND PURPOSES SET FORTH-HEREIN. WITHOUT LIMITATION OF THE FOREGOING, THE CORPORATION MAY OWN, LEASE, ACQUIRE, AND DISPOSE OF REAL AND PERSONAL PROPERTY, HOLD AND INVEST FUNDS AND INTANGIBLE PROPERTY, RAISE MONEY BY ANY APPROPRIATE ACTIVITY, AND ACCEPT DONATIONS IF IN THE OPINION OF THE BOARD, SUCH DONATIONS WILL FOSTER THE PURPOSES SET FORTH HEREIN. BY FORMAL RESOLUTION OF THE BOARD OF DIRECTORS OF ST. STANISLAUS COLLEGE, INC., BUTEUX HOLDINGS CORPORATION RECEIVED TITLE TO THE LAND AND BUILDINGS OF ST. STANISLAUS HIGH SCHOOL. THE CORPORATION HAS EXECUTED A LEASE ON A TRIPLE NET BASIS WITH ST. STANISLAUS COLLEGE, INC. BUTEUX HOLDINGS CORPORATION PAYS MONTHLY DIVIDENDS OVER THE SAME PERIOD OF TIME AND IN THE SAME AMOUNT TO ITS SHAREHOLDER, THE BROTHERS OF THE SACRED HEART. TWO THOUSAND DOLLARS REMAINS IN THE CHECKING ACCOUNT TO KEEP THE ACCOUNT OPEN AFTERPAYING DIVIDENDS AND THUS AVOIDING SERVICE CHARGES. THIS PROCEDURE CONTINUES ANNUALLY.


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Board, Officers & Key Employees

Name (title)Compensation
Ronald Hingle
President
$0
Ivy Leblanc
Member
$0
Ronald J Artigues
Member
$0
Barry Landry
Secretary
$0

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 $47,452
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 $47,452

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