Overview
What is Boca Lending Corporation?
Boca Lending Corporation serves as a title holder for investments that generate income. This income, after deducting expenses, is subsequently transferred to the General Electric Pension Trust (Gept). Gept utilizes this income, less expenses, to carry out its exempt purposes, as outlined in the Internal Revenue Code Section 501(c)(2). Though Boca Lending Corporation itself does not offer any programs, its role is crucial in providing a source of income for Gept's charitable initiatives.
Is Boca Lending Corporation legitimate?
Boca Lending Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Boca Lending Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Boca Lending Corporation?
Boca Lending Corporation's role is to manage investments that generate income. This income, after deducting related expenses, is then transferred to the General Electric Pension Trust (GEPT). GEPT utilizes this income, less expenses, to advance its exempt purposes. The corporation itself does not offer any programs or services. In essence, Boca Lending Corporation functions as a vehicle to support the exempt activities of GEPT through the management of income-generating investments.
Who is the CEO of Boca Lending Corporation?
Leanne Dunn is the Vp/Secretary/Director of Boca Lending Corporation.
What is the revenue of Boca Lending Corporation?
Boca Lending Corporation's revenue in 2022 was $0.
Who are the executives of Boca Lending Corporation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Boca Lending Corporation?
Boca Lending Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Boca Lending Corporation
Boca Lending Corporation serves a unique role in the financial sector. Its primary mission is to hold title to investments that generate income. This income is then transferred to the General Electric Pension Trust (Gept) after deducting expenses, as per the Internal Revenue Code Section 501(c)(2). Gept, in turn, utilizes this income, less expenses, to advance its exempt purposes. It's important to note that Boca Lending Corporation does not offer any programs or services beyond this role. The corporation's mission is centered around its financial duties, contributing to the exempt purposes of the General Electric Pension Trust.
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Impact
October, 2024
Boca Lending Corporation plays a crucial role in the financial ecosystem by managing investments that generate income. This income is strategically funneled to the General Electric Pension Trust (GEPT), following the deduction of necessary expenses. By holding title to these investments, Boca Lending Corporation ensures that the funds derived are utilized to enhance the exempt purposes of GEPT.
This operational structure not only supports the financial health of GEPT but also contributes to broader community improvement initiatives. The income generated can be used to support various programs and services that benefit the community, fulfilling an important mission of reinvesting in societal welfare. The activities of Boca Lending Corporation therefore have a significant positive impact, aligning financial management with community development goals.
This information is meant to be a general summary of Boca Lending Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
Assets and Liabilities:
- Total Assets: $186,891
- Total Liabilities: $0
- Net Assets: $186,891
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Organization Details
Founding Year
1997
Phone
(203) 373-2211Principal Officer
Leanne Dunn
Main Address
901 MAIN AVENUE, NORWALK, CT, 06851
NTEE Category
Code: S47 - Community improvement
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