Overview
What is Riverside County Board Of Education Service Center Building Corporation?
The Riverside County Board of Education Service Center Building Corporation is a nonprofit entity, located in Riverside, California, specifically at 3939 13th Street. Its primary purpose is to aid the Riverside County Office of Education (RCOE) by acquiring land and constructing administrative and related facilities for their use. This is achieved through bonded indebtedness financing, and afterwards, the corporation subleases the properties back to RCOE. The rental income generated from these subleases is utilized to cover the principal and interest payments on the bonded indebtedness. At present, there seems to be no ongoing activity or active bonds in place.
Is Riverside County Board Of Education Service Center Building Corporation legitimate?
Riverside County Board Of Education Service Center Building Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Riverside County Board Of Education Service Center Building 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 Riverside County Board Of Education Service Center Building Corporation?
The Riverside County Board of Education Service Center Building Corporation's mission is to support the Riverside County Office of Education (RCOE) by acquiring land and facilitating the construction of administrative and related facilities. The corporation achieves this by financing construction through bonded indebtedness and subsequently subleasing the properties back to RCOE. The primary objective is to provide necessary infrastructure for RCOE, which it accomplishes by entering into lease agreements for real property and constructing buildings, financed through bond issuances. The rental income generated from subleasing is utilized to cover the principal and interest payments on the bonded indebtedness. Currently, there seems to be no ongoing activity or bonds in place.
Who is the CEO of Riverside County Board Of Education Service Center Building Corporation?
Mr Tom Johnson is the President of Riverside County Board Of Education Service Center Building Corporation.
What is the revenue of Riverside County Board Of Education Service Center Building Corporation?
Riverside County Board Of Education Service Center Building Corporation's revenue in 2022 was $0.
Who are the executives of Riverside County Board Of Education Service Center Building Corporation and what are their salaries?
There 4 volunteers at Riverside County Board Of Education Service Center Building Corporation.
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Riverside County Board Of Education Service Center Building Corporation?
Riverside County Board Of Education Service Center Building Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Riverside County Board Of Education Service Center Building Corporation
The Riverside County Board of Education Service Center Building Corporation is a nonprofit entity dedicated to assisting the Riverside County Office of Education (RCOE). Its primary mission is to acquire land and oversee the construction of administrative and related facilities for RCOE's use. The corporation accomplishes this by leveraging bonded indebtedness financing and subleasing the properties back to RCOE. This strategic approach allows the corporation to generate rental income, which is used to cover the principal and interest payments on the bonds. However, at the moment, there seems to be no ongoing activity or bonds in place.
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Impact
October, 2024
The Riverside County Board of Education Service Center Building Corporation plays a crucial role in supporting the Riverside County Office of Education (RCOE) by facilitating the acquisition of land and the construction of essential administrative and related facilities. This initiative aims to enhance the operational capacity of RCOE, which directly impacts educational services in the region.
By utilizing bonded indebtedness financing, the corporation manages the construction of buildings that cater to the educational needs of Riverside County. The properties are then subleased back to RCOE through lease/purchase agreements. This arrangement not only provides RCOE with the necessary infrastructure to operate efficiently but also ensures that the costs associated with the construction are managed sustainably through rental proceeds.
The impact is significant, as it enables RCOE to focus resources on educational programs and services rather than being heavily burdened by facility management. This strategic partnership ultimately benefits the community by fostering a well-supported educational environment, promoting public benefit, and contributing to the overall development of educational infrastructure in Riverside County.
This information is meant to be a general summary of Riverside County Board Of Education Service Center Building 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: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
1977
Phone
(951) 826-6790Principal Officer
Mr Tom Johnson
Main Address
3939 13TH STREET, RIVERSIDE, CA, 92501
NTEE Category
Code: W00 - Public benefit
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