Sorrento Industrial Inc

Organization Overview

Sorrento Industrial Inc is located in Dallas, TX. The organization was established in 2001. 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.

For the year ending 06/2022, Sorrento Industrial Inc generated $3.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $380.3k during the year ending 06/2022. While expenses have increased by 12.5% per year over the past 4 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO OPERATE AS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(25) AND HOLD TITLE TO REAL PROPERTY ON BEHALF OF PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SORRENTO INDUSTRIAL, INC. OPERATES AS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(25) AND HOLDS TITLE TO REAL PROPERTY ON BEHALF OF PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA (RETIREMENT SYSTEM). THE ORGANIZATION COLLECTS THE INCOME FROM THE PROPERTY AND REMITS IT TO THE RETIREMENT SYSTEM.


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Board, Officers & Key Employees

Name (title)Compensation
R Scott Dennis
Director
$0
Beth Zayicek
Director
$0
Jason W Geer
Vp/sec
$0
Michael Kirby
President
$0
Bert J Crouch
Vp/asst Sec
$0
Lee Phegley
Vp/asst Sec
$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 $1,244
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $3,191,109
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 $3,192,353

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