Overview
What is Gpf Woodson Park Nmtc Inc?
Gpf Woodson Park Nmtc Inc is a nonprofit organization primarily focused on holding title to a property located at 1605 Donald Lee Hollowell Parkway, NW, Atlanta, GA 30318. The organization was established with the purpose of facilitating a transaction involving a new school building for Woodson Park Academy, which is situated in a census tract eligible for the New Market Tax Credit (NMTC) program. To accomplish this, Gpf Woodson Park Nmtc Inc issued four notes worth $20.7 million with an annual interest rate starting in 2028. The nonprofit will carry the debt and maintain ownership of the property until it is transferred to Grove Park Foundation, Inc. (GPF) upon completion. GPF is an organization exempt under Section 501(a) of the Internal Revenue Code, and the income collected by Gpf Woodson Park Nmtc Inc, after accounting for expenses, will be transferred to GPF.
Is Gpf Woodson Park Nmtc Inc legitimate?
Gpf Woodson Park Nmtc Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gpf Woodson Park Nmtc Inc 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
What is the mission statement of Gpf Woodson Park Nmtc Inc?
Gpf Woodson Park Nmtc Inc is organized for a specific purpose, which is to hold title to a particular piece of real property. The corporation collects income from this property, after deducting expenses, and then transfers the remaining amount to the Grove Park Foundation Inc (GPF). GPF is an exempt organization under Section 501(a) of the Internal Revenue Code of 1986 or any future corresponding provision in U.S. internal revenue law. The corporation's role primarily involves property management, with the collected income contributing to the work of GPF.
Who is the CEO of Gpf Woodson Park Nmtc Inc?
Gavin Mcguire is the Executive Director of Gpf Woodson Park Nmtc Inc.
What is the revenue of Gpf Woodson Park Nmtc Inc?
Gpf Woodson Park Nmtc Inc's revenue in 2022 was $200,000.
Who are the executives of Gpf Woodson Park Nmtc Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $181,500
- Other: $9,000
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Gpf Woodson Park Nmtc Inc?
Gpf Woodson Park Nmtc Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Gpf Woodson Park Nmtc Inc
Gpf Woodson Park Nmtc Inc is a corporation with a specific mission. Its primary purpose is to hold title to a piece of real property, without engaging in any other business activities. The income generated from this property, after deducting expenses, is then transferred to the Grove Park Foundation, Inc. (GPF). It's important to note that GPF is an organization that is exempt under Section 501(a) of the Internal Revenue Code of 1986 or any corresponding provision in future U.S. internal revenue law. This means that GPF operates as a non-profit organization, and any income it receives is not subject to federal income tax. In essence, Gpf Woodson Park Nmtc Inc serves as a financial intermediary, managing its real estate asset and channeling its earnings to support the work of the Grove Park Foundation.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Gpf Woodson Park Nmtc Inc plays a crucial role in enhancing educational infrastructure within a targeted area in Atlanta, Georgia. By holding the title to a significant piece of real estate located at 1605 Donald Lee Hollowell Parkway NW, the organization facilitates the construction of a new school building for Woodson Park Academy. This initiative directly addresses the educational needs of the community, particularly in a census tract eligible for the New Market Tax Credit (NMTC) program.
The successful financing mechanism employed by Gpf Woodson Park Nmtc Inc involves collaborating with a certified Community Development Entity (CDE) and an investment fund linked to a commercial bank. This collaboration not only secures critical funds—totaling $20.7 million—but also ensures that the low-interest loans, set at 1.00%, contribute to long-term sustainability for the educational project.
Furthermore, the organization aims to seamlessly transfer the property to Grove Park Foundation, Inc., further cementing its commitment to supporting educational initiatives in the region. This strategic approach promotes community development by fostering access to quality education in a historically underserved area, ultimately leading to improved opportunities for local residents and enriching the social fabric of the community.
This information is meant to be a general summary of Gpf Woodson Park Nmtc Inc. 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.
- Gross Receipts: $200,000
Assets and Liabilities:
- Total Assets: $30,923,465
- Total Liabilities: $20,240,822
- Net Assets: $10,682,643
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2019
Phone
(404) 386-1703Principal Officer
Gavin Mcguire
Main Address
1566 DONALD LEE HOLLOWELL PKWY 5, ATLANTA, GA, 30318
NTEE Category
Code: B19 - Education
If you are a representative of Gpf Woodson Park Nmtc Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.