Overview
What is Lexington Public Schools Building Corporation?
Lexington Public Schools Building Corporation is a nonprofit organization established to support Lexington Public Schools in enhancing their educational facilities. They accomplish this through lease-purchase agreements and building site leases, undertaking renovation projects and new construction on certain school buildings. The nonprofit receives periodic construction progress payments and lease payments from Lexington Public Schools, which they invest when not immediately disbursed. Upon termination of the lease-purchase agreement, they transfer any leased premises back to Lexington Public Schools, contributing to the betterment of educational facilities for the city's students.
Is Lexington Public Schools Building Corporation legitimate?
Lexington Public Schools Building Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Lexington Public Schools 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 Lexington Public Schools Building Corporation?
The Lexington Public Schools Building Corporation's primary mission is to assist in providing facilities for the education of students within the Lexington Public Schools. This is achieved through the construction of additions and remodeling of buildings, which is carried out in collaboration with the Lexington Public Schools. The organization leases one or more buildings for this purpose and invests any surplus funds received from the Lexington Public Schools. The organization is responsible for completing renovation and new construction projects on these buildings, with periodic construction progress payments and lease payments made as recommended by the project architects. Upon termination of the lease-purchase agreement, the organization transfers the leased premises back to the Lexington Public Schools.
Who is the CEO of Lexington Public Schools Building Corporation?
Steven H Smith is the Vice Preside of Lexington Public Schools Building Corporation.
What is the revenue of Lexington Public Schools Building Corporation?
Lexington Public Schools Building Corporation's revenue in 2023 was $164,707.
Who are the executives of Lexington Public Schools Building Corporation and what are their salaries?
Here are 3 key members and their salaries:
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Where can I find the form 990 for Lexington Public Schools Building Corporation?
Lexington Public Schools Building Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lexington Public Schools Building Corporation
The Lexington Public Schools Building Corporation's mission involves assisting Lexington Public Schools in providing educational facilities for its students. This is achieved through the lease of one or more buildings, where the Corporation will carry out renovations and new construction projects. The organization, in collaboration with Lexington Public Schools, makes periodic construction progress payments and lease payments, as recommended by project architects. Upon the termination of the lease-purchase agreement, the Corporation will transfer the leased premises back to Lexington Public Schools. This partnership between the Corporation and Lexington Public Schools serves to enhance the educational environment for students, ensuring they have access to updated and well-maintained facilities.
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Impact
October, 2024
The Lexington Public Schools Building Corporation plays a crucial role in enhancing educational facilities within the Dawson County School District No. 001. By overseeing the construction and remodeling of school buildings, it ensures that students have access to modern and conducive learning environments. This organization coordinates construction projects that improve existing structures and build new additions, directly contributing to the quality of education provided in the Lexington Public Schools.
Through a lease-purchase agreement with the Lexington Public Schools, the corporation facilitates significant renovations and construction initiatives. This partnership allows for periodic construction progress payments, ensuring that projects are completed efficiently and effectively. Any funds not immediately needed for construction are strategically invested, further supporting the corporation's mission.
Upon completion of the lease-purchase agreement, the corporation's efforts culminate in the transfer of newly constructed or remodeled facilities back to the Lexington Public Schools. This seamless transition ensures that the enhancements made to the buildings are ultimately dedicated to improving the educational experiences for students in the community. Overall, the Lexington Public Schools Building Corporation significantly impacts the availability and quality of educational facilities in Lexington, fostering an environment conducive to learning and growth.
This information is meant to be a general summary of Lexington Public Schools 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 2023.
- Gross Receipts: $166,500
Assets and Liabilities:
- Total Assets: $164,769
- Total Liabilities: $0
- Net Assets: $164,769
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Organization Details
Founding Year
2006
Phone
(308) 324-1202Principal Officer
Steven H Smith
Main Address
PO BOX 776, LEXINGTON, NE, 68850
NTEE Category
Code: S47 - Community improvement
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