Overview
What is Lctcs Facilities Corporation?
Lctcs Facilities Corporation is a nonprofit organization dedicated to enhancing facilities across fourteen campuses in the Louisiana Community and Technical College System. Their mission involves repairing, improving, renovating, and constructing various buildings, acquiring land, and funding the necessary infrastructure. The corporation plans to invest approximately $177 million into these projects. The colleges benefiting from these improvements include Evangeline Campus, Huey P. Long Campus, Northwest Louisiana Campus, Young Memorial Campus, Florida Parishes Campus, Westside Campus, Gulf Area Campus, Shelby M. Jackson Campus, Sidney N. Collier Campus, L.E. Fletcher Technical Community College, Sowela Technical Community College, River Parishes Community College, Delgado Community College, Elaine P. Nunez Community College, and Central Louisiana Technical Community College. Their initiatives cover a wide range of community and technical colleges, ensuring a diverse learning environment for students.
Official website here: www.lctcs.csrsonline.com/program/facilities.asp
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Lctcs Facilities Corporation has received an 81% rating from Charity Navigator, reflecting solid performance in Accountability & Finance. The organization excels in maintaining an independent board and demonstrating transparency through comprehensive financial oversight. All board members are independent, and the organization has robust policies in place for conflict of interest, whistleblower protections, and document retention.
The organization shows a remarkable program expense ratio of nearly 100%, indicating that nearly all its funds are directed toward its programs. However, it does have a liabilities to assets ratio of 79.39%, which might raise concerns about financial stability and operational leverage. This aspect could suggest potential financial risk, particularly in challenging economic conditions.
Overall, while Lctcs Facilities Corporation demonstrates strong governance and a commitment to transparency, stakeholders may want to consider the implications of its high liabilities when evaluating the organization’s long-term financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Lctcs Facilities Corporation legitimate?
Lctcs Facilities Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lctcs Facilities 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
For more financial information, click here
Official website here: www.lctcs.csrsonline.com/program/facilities.asp
What is the mission statement of Lctcs Facilities Corporation?
The Lctcs Facilities Corporation is dedicated to enhancing the educational experience at fourteen community and technical college campuses in Louisiana. Through developing, acquiring, and renovating facilities, the corporation aims to improve the learning environment for students. These improvements range from constructing new buildings to expanding existing ones, and are estimated to cost approximately $177 million. Some campuses, such as Evangeline and Huey P. Long, will receive significant upgrades, while others, like Young Memorial and Florida Parishes, will undergo acquisitions and constructions. The goal is to provide the best possible learning spaces for students, ultimately contributing to their academic success.
Official website here: www.lctcs.csrsonline.com/program/facilities.asp
Who is the CEO of Lctcs Facilities Corporation?
Stephen C Smith is the Board Chair of Lctcs Facilities Corporation.
Official website here: www.lctcs.csrsonline.com/program/facilities.asp
What is the revenue of Lctcs Facilities Corporation?
Lctcs Facilities Corporation's revenue in 2022 was $43,360,911.
Official website here: www.lctcs.csrsonline.com/program/facilities.asp
Who are the executives of Lctcs Facilities Corporation and what are their salaries?
There 4 volunteers at Lctcs Facilities Corporation.
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.lctcs.csrsonline.com/program/facilities.asp
Where can I find the form 990 for Lctcs Facilities Corporation?
Lctcs Facilities Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lctcs.csrsonline.com/program/facilities.asp
Learn more at the official website: www.lctcs.csrsonline.com/program/facilities.asp
Mission Statement of Lctcs Facilities Corporation
Lctcs Facilities Corporation is a dedicated organization committed to repairing, improving, renovating, and constructing facilities on fourteen existing campuses within the Louisiana Community and Technical College System. With an estimated expenditure of $177 million on the projects, Lctcs Facilities Corporation aims to enhance the infrastructure of various campuses across the state.
Throughout this endeavor, Lctcs Facilities Corporation plans to replace, relocate, and expand facilities on numerous campuses. At Evangeline Campus in St. Martinville, a significant improvement project is underway, with an estimated cost of $9.2 million. Similarly, Huey P. Long Campus in Winnfield is undergoing a substantial improvement, with a projected expense of $11.5 million. Northwest Louisiana Campus in Minden is undergoing an expansion, with an approximate cost of $16.1 million. These are just a few examples of the improvements being made across the Louisiana Community and Technical College System.
In addition to the physical renovations, Lctcs Facilities Corporation is also funding a debt service reserve fund, paying capitalized interest on bonds, and covering the costs of bond issuance premiums. This financial commitment is essential for the successful implementation of the infrastructure improvements. The organization's efforts are in line with the objectives outlined in Act 391 of the 2007 Regular Session and Act 360 of the 2013 Regular Session of the Louisiana Legislature.
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Impact
October, 2024
LCTCS Facilities Corporation significantly impacts the Louisiana Community and Technical College System by spearheading essential repairs, renovations, and new constructions across multiple campuses. By investing approximately $177 million, the Corporation aims to enhance educational resources and infrastructure for students and faculty alike.
Specific projects include replacing and relocating facilities at the Huey P. Long Campus in Winnfield, expanding the Northwest Louisiana Campus in Minden, and constructing a new Student and Financial Information System, among others. These upgrades not only improve the overall learning environment but also broaden the range of programs and services offered, including specialized training centers in advanced manufacturing, maritime studies, and allied health.
The extensive renovations and constructions planned for campuses such as Delgado Community College and Baton Rouge Community College will provide state-of-the-art facilities designed to meet the evolving needs of students and local industries. This transformative effort positions LCTCS to better serve the educational landscape and workforce development needs of Louisiana, ultimately fostering a more skilled and prepared future workforce.
This information is meant to be a general summary of Lctcs Facilities 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.
- Investment Income: $612,678
- Program Service Revenue: $34,702,881
- Gross Receipts: $43,360,911
Assets and Liabilities:
- Total Assets: $410,716,456
- Total Liabilities: $326,104,382
- Net Assets: $84,612,074
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT FROM AFFILATED ORGANIZATION
Revenue
$34,702,881
Organization Details
Founding Year
2007
Phone
(504) 544-7700Principal Officer
Stephen C Smith
Main Address
201 ST CHARLES AVENUE 4240, NEW ORLEANS, LA, 70170
NTEE Category
Code: B024 - Education
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