Overview
What is Los Alamitos Public Facilities Corp?
Los Alamitos Public Facilities Corp is a nonprofit organization established in 2006 under California's non-profit corporation laws. This organization, a component of the city of Los Alamitos, serves to aid the city in financing public projects, such as acquisitions, constructions, and improvements, all for the general benefit within the city limits. In 2015, an existing loan of $3,365,000 was refinanced, and a new loan of $3,685,000 was issued to support these public endeavors. The organization continues to repay these loans annually.
Is Los Alamitos Public Facilities Corp legitimate?
Los Alamitos Public Facilities Corp is a legitimate nonprofit organization registered as a 501(c)(4) entity. Los Alamitos Public Facilities Corp 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.
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What is the mission statement of Los Alamitos Public Facilities Corp?
The Los Alamitos Public Facilities Corp was established to aid a charter city, Los Alamitos, in financing the acquisition, construction, and improvement of public facilities within its boundaries. This corporation serves as a financial assistance tool, facilitating projects for the betterment of the public. As a non-profit entity under California's corporate laws, its primary purpose is to help the city finance such projects. A previous loan of $3,365,000 was refinanced in 2015, and a new loan of $3,685,000 was obtained in the same year to finance these projects, which are repaid annually.
Who is the CEO of Los Alamitos Public Facilities Corp?
Chet Simmons is the Mayor Pro Tem of Los Alamitos Public Facilities Corp.
What is the revenue of Los Alamitos Public Facilities Corp?
Los Alamitos Public Facilities Corp's revenue in 2022 was $133,500.
Who are the executives of Los Alamitos Public Facilities Corp and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Los Alamitos Public Facilities Corp?
Los Alamitos Public Facilities Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Los Alamitos Public Facilities Corp
Los Alamitos Public Facilities Corp was established with a mission to aid the charter city of Los Alamitos in financing the acquisition, construction, and improvement of public facilities within its boundaries. This corporation, functioning as a blended component unit of the city, was established in February 2006 under the non-profit corporation laws of California. Its primary purpose is to assist the city in financing projects that serve the public benefit, ensuring that the city can provide essential facilities for its residents. In 2015, the corporation refinanced an existing loan of $3,365,000, and secured a new loan of $3,685,000 to continue funding such projects. The repayment of this loan is done annually, demonstrating the corporation's commitment to supporting the city's public facilities initiatives.
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Impact
October, 2024
Los Alamitos Public Facilities Corporation plays a crucial role in enhancing the city of Los Alamitos through strategic financial support for public projects. Established on February 6, 2006, the corporation assists the city in financing the acquisition, construction, and improvement of facilities for the public benefit. This support enables the development of infrastructure and community resources that directly improve the quality of life for residents.
A key aspect of the corporation's impact is its facilitation of large financial undertakings, such as the refinancing of a $3,365,000 loan in September 2015, which was replaced by a new $3,685,000 Certificate of Participation loan. This financial maneuvering not only ensures fiscal responsibility but also underscores the corporation's commitment to funding essential community projects. By providing a structured approach to financing, the Los Alamitos Public Facilities Corporation empowers the city to prioritize and execute public improvement initiatives that benefit the entire community.
This information is meant to be a general summary of Los Alamitos Public Facilities Corp. 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: $133,500
- Gross Receipts: $133,500
Assets and Liabilities:
- Total Assets: $3,248,255
- Total Liabilities: $3,245,000
- Net Assets: $3,255
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Organization Details
Founding Year
2006
Phone
(562) 431-3538Principal Officer
Chet Simmons
Main Address
3191 KATELLA AVENUE, LOS ALAMITOS, CA, 907202335
NTEE Category
Code: W20 - Public benefit
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