Overview
What is Tippecanoe County Governmental Building Corporation?
Tippecanoe County Governmental Building Corporation is a nonprofit entity based in Lafayette, Indiana. Its primary mission is to construct, acquire, renovate, and improve various governmental buildings, with a focus on enhancing the existing Tippecanoe County Law Enforcement Facility Jail. The corporation finances these projects through bond issuances, with the associated costs and discounts on bonds being amortized over the bond's lifespan. The bond debt is issued to support the entity's exempt purpose. Notably, the pre-existing jail facility is depreciated over a 40-year period using the straight-line method, and the interest expense related to the bond debt is paid accordingly.
Is Tippecanoe County Governmental Building Corporation legitimate?
Tippecanoe County Governmental Building Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Tippecanoe County Governmental 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.
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What is the mission statement of Tippecanoe County Governmental Building Corporation?
The Tippecanoe County Governmental Building Corporation's mission involves constructing, acquiring, renovating, and improving governmental buildings, with a particular focus on enhancing the existing law enforcement facility jail in Tippecanoe County. This organization aims to improve the infrastructure of its designated buildings, ensuring their efficiency and effectiveness. The corporation constructs these facilities and then leases them back to the relevant authorities. The costs associated with issuing bonds to support the entity's exempt purpose are amortized over the life of the bonds. The pre-existing jail facility is depreciated over a period of 40 years using the straight-line method. The corporation also manages the payment of interest expenses on the bond debt.
Who is the CEO of Tippecanoe County Governmental Building Corporation?
Jerome Withered is the Director of Tippecanoe County Governmental Building Corporation.
What is the revenue of Tippecanoe County Governmental Building Corporation?
Tippecanoe County Governmental Building Corporation's revenue in 2022 was $0.
Who are the executives of Tippecanoe County Governmental Building Corporation and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Tippecanoe County Governmental Building Corporation?
Tippecanoe County Governmental Building Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tippecanoe County Governmental Building Corporation
Tippecanoe County Governmental Building Corporation is committed to constructing, acquiring, renovating, and improving governmental buildings in Tippecanoe County, Indiana, with a particular focus on enhancing the existing Tippecanoe County Law Enforcement Facility Jail. Their mission is to contribute to the betterment of the local infrastructure, specifically by improving the jail facility. To achieve this goal, the corporation constructs new buildings or renovates existing ones, ensuring they meet the necessary standards and requirements for governmental use. The corporation leases back the newly constructed facility to the county, allowing the county to utilize the improved infrastructure. The costs associated with bond issuance and the original issue discount on bonds are amortized over the life of the bonds, ensuring financial sustainability for the corporation. The corporation's activities are aligned with its exempt purpose, providing essential services to the community. It is worth noting that the pre-existing jail facility is depreciated over a 40-year period using the straight-line method, and the interest expense is paid on the bond debt. Overall, Tippecanoe County Governmental Building Corporation plays a pivotal role in enhancing the infrastructure of Tippecanoe County, with a specific focus on improving the local law enforcement facility.
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Impact
October, 2024
The Tippecanoe County Governmental Building Corporation plays a significant role in enhancing the infrastructure of governmental facilities in Tippecanoe County, Indiana. By focusing on the construction, acquisition, renovation, and improvement of essential buildings—most notably the Tippecanoe County Law Enforcement Facility—this entity directly contributes to the efficiency and effectiveness of government operations in the region.
Their efforts in building and renovating facilities ensure that county services are delivered in modern, safe, and functional environments, promoting better public safety and community engagement. The facility constructed is leased back to the county, which means that the improvements are sustainable and continuously serve the community's needs. The financing of these projects through bond issues allows for structured repayment and long-term investment in public infrastructure, while also making effective use of existing resources.
Moreover, the depreciation of the pre-existing jail facility over a 40-year life span reflects responsible fiscal management and underscores the commitment to optimize the use of governmental assets. By addressing infrastructural needs and facilitating improved law enforcement conditions, the Tippecanoe County Governmental Building Corporation fosters significant advancements in community welfare and safety, ultimately benefiting all residents of Tippecanoe County.
This information is meant to be a general summary of Tippecanoe County Governmental 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: $6,385,804
- Total Liabilities: $0
- Net Assets: $6,385,804
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Organization Details
Founding Year
2001
Phone
(765) 423-5404Principal Officer
Jerome Withered
Main Address
20 N 3RD ST, LAFAYETTE, IN, 47901
NTEE Category
Code: S47 - Community improvement
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