Overview
What is St Louis Municipal Finance Corporation?
The St. Louis Municipal Finance Corporation is a nonprofit organization founded by the City of St. Louis, Missouri, in 1991. Its mission is to alleviate the financial burden of the city by financing or acquiring assets using the issuance of debt. Based in St. Louis, Missouri, the corporation's activities primarily focus on improving the city's financial situation. For instance, they have undertaken the Convention Center Refunding and Improvement Project, as indicated by the leasehold revenue bonds series 2017 mentioned in the information.
What are the reviews and ratings of this charity?
Charity Navigator rating: 78% (Three-Star out of Four Star rating)
The St Louis Municipal Finance Corporation has received a three-star rating from Charity Navigator, reflecting a solid performance in accountability and finance with an overall score of 78%. The score is primarily derived from a single beacon focusing on accountability, indicating a strong commitment to responsible financial practices and governance.
The organization boasts a fully independent board, with six out of six members being independent, which enhances its governance structure. Notably, it has no material diversion of assets and has established conflict of interest policies, indicating adherence to ethical standards. The financial metrics are also impressive, with a program expense ratio of 100%, signifying that all of its expenses directly support its programs, and a fundraising efficiency ratio of $0.00, suggesting that it incurs no costs in fundraising which can be a positive indicator of operational efficiency.
Despite these strengths, the organization’s working capital ratio at 0.55 years may indicate a potential vulnerability in covering short-term liabilities. However, the overall financial health appears robust, and the commitment to accountability positions the St Louis Municipal Finance Corporation as a responsible steward of its resources.
This AI summary has been generated from information found on Charity Navigator.
Is St Louis Municipal Finance Corporation legitimate?
St Louis Municipal Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Louis Municipal Finance 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of St Louis Municipal Finance Corporation?
The St. Louis Municipal Finance Corporation was established in 1991 to alleviate the financial strain of a city by financing or acquiring assets utilizing the issuance of debt. Its primary objective is to reduce the financial burden on the city through innovative financial solutions. The corporation has facilitated various projects, including the Convention Center Refunding and Improvement Project, which was funded through leasehold revenue bonds, Series 2017. By utilizing debt financing, the corporation enables the city to invest in essential infrastructure and services, ultimately contributing to its long-term financial health.
Who is the CEO of St Louis Municipal Finance Corporation?
Lataunia Kenner is the President Current of St Louis Municipal Finance Corporation.
What is the revenue of St Louis Municipal Finance Corporation?
St Louis Municipal Finance Corporation's revenue in 2022 was $54,423,000.
Who are the executives of St Louis Municipal Finance Corporation 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 St Louis Municipal Finance Corporation?
St Louis Municipal Finance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St Louis Municipal Finance Corporation
The St. Louis Municipal Finance Corporation, established in 1991 by the City of St. Louis, Missouri, was founded with the mission to alleviate the financial burden of the city. This mission is accomplished by financing or acquiring assets through the issuance of debt. In simpler terms, the St. Louis Municipal Finance Corporation serves as a financial arm for the city, facilitating its growth and development by raising funds for various projects and initiatives.
The corporation's role in the city's financial landscape is essential, as it enables the city to invest in important assets and infrastructure that may otherwise be difficult to finance. By issuing debt, the St. Louis Municipal Finance Corporation provides the city with the necessary capital to undertake significant projects, thus contributing to the overall improvement of the city's infrastructure and economic development.
One of the notable projects the corporation has been involved in is the Convention Center Refunding and Improvement Project. For this endeavor, they issued Leasehold Revenue Bonds, Series 2017. The purpose of these bonds was to refinance existing debt related to the city's convention center and fund improvements to the facility. By securing these funds, the city was able to enhance the convention center, making it more attractive to potential users and boosting the local economy. Overall, the St. Louis Municipal Finance Corporation plays a crucial role in the financial health of the city by providing innovative funding solutions for various projects and initiatives.
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Impact
October, 2024
The St. Louis Municipal Finance Corporation has significantly influenced the financial landscape of St. Louis, Missouri, since its establishment in 1991. By focusing on financing and acquiring assets through the issuance of debt, it has played a crucial role in alleviating the city's financial burdens. One of its notable initiatives includes the Convention Center Refunding and Improvement Project, which utilized Leasehold Revenue Bonds to support infrastructure enhancements.
This strategic approach enables the city to invest in essential projects without placing an immediate strain on its budget, ultimately fostering economic growth and development. Through its financial operations, the Corporation contributes to the public benefit by enhancing municipal services and local facilities, thereby improving the overall quality of life for residents of St. Louis.
This information is meant to be a general summary of St Louis Municipal Finance 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.
- Investment Income: $329,000
- Gross Receipts: $54,423,000
Assets and Liabilities:
- Total Assets: $106,782,000
- Total Liabilities: $3,455,000
- Net Assets: $103,327,000
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Organization Details
Founding Year
1991
Phone
(314) 622-4389Principal Officer
Lataunia Kenner
Main Address
1520 MARKET STREET APT 3005, SAINT LOUIS, MO, 63103
NTEE Category
Code: W190 - Public benefit
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