Overview
What is Three Rivers Cde Inc?
Three Rivers Cde Inc, based in Pontotoc, Mississippi, serves as a nonprofit organization dedicated to supporting low-income communities and individuals. Through sub-allocating both federal and Mississippi New Markets Tax Credit investments, they provide capital to various subsidiary community development entities. This investment contributes to the development and revitalization of these low-income communities, ultimately benefiting the local population. The organization's mission aligns with Section 45D of the Internal Revenue Code, aiming to promote growth in underserved areas and uplift residents' living standards.
Official website here: www.trpdd.com
Is Three Rivers Cde Inc legitimate?
Three Rivers Cde Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Three Rivers Cde 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.
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Official website here: www.trpdd.com
What is the mission statement of Three Rivers Cde Inc?
Three Rivers CDE Inc's mission is centered around serving low-income communities and individuals. The organization aims to provide investment capital for these communities and individuals, as defined under Section 45D(C) of the Internal Revenue Code of 1986. Three Rivers CDE Inc also strives to obtain certification from the United States Department of the Treasury, positioning itself as a Qualified Community Development Entity. The corporation then applies for the federal tax credits and benefits that are available to such entities. This mission is geared towards supporting the economic growth and development of low-income communities and individuals.
Official website here: www.trpdd.com
Who is the CEO of Three Rivers Cde Inc?
Vernon Kelley Iii is the Calhoun County Director of Three Rivers Cde Inc.
Official website here: www.trpdd.com
What is the revenue of Three Rivers Cde Inc?
Three Rivers Cde Inc's revenue in 2023 was $802,904.
Official website here: www.trpdd.com
Who are the executives of Three Rivers Cde Inc and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.trpdd.com
Where can I find the form 990 for Three Rivers Cde Inc?
Three Rivers Cde Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.trpdd.com
Learn more at the official website: www.trpdd.com
Mission Statement of Three Rivers Cde Inc
Three Rivers CDE Inc is dedicated to serving and providing investment capital for low-income communities and individuals. In line with this mission, the organization aims to obtain certification as a Qualified Community Development Entity (QCDE) from the United States Department of the Treasury. This certification allows Three Rivers CDE Inc to apply for federal tax credits and other benefits, furthering its goal of supporting economically disadvantaged areas and people. By providing investment capital, Three Rivers CDE Inc aims to contribute to the improvement and revitalization of these communities, helping to create opportunities for economic growth and development.
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Impact
October, 2024
Three Rivers CDE Inc has made a significant impact by providing crucial investment capital to low-income communities and individuals, focusing on fostering economic growth and development in underserved areas. With a commitment to activate federal and state resources, it has effectively allocated substantial New Markets Tax Credit (NMTC) investment authority to various subsidiary community development entities.
The organization has allocated a total of $10 million of its federal NMTC allocation to multiple sub-CDEs, including $10 million to 3 Rivers Sub-CDE 1, LLC, and further investments in other subsidiaries like 3 Rivers Sub-CDE 3 and 5, among others. Additionally, it has directed nearly $43 million in Mississippi NMTC allocations across various entities, strategically targeting resources to ensure that low-income communities benefit from enhanced access to capital.
This systematic disbursement of funds not only supports housing initiatives but also promotes economic revitalization by facilitating investments in infrastructure, business development, and community services. By leveraging tax credits and working towards certification as a qualified community development entity, Three Rivers CDE Inc instrumentalizes the power of investment to uplift communities, ultimately striving to improve the quality of life for low-income residents in Mississippi.
This information is meant to be a general summary of Three Rivers Cde 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 2023.
- Gross Receipts: $802,904
Assets and Liabilities:
- Total Assets: $1,684,620
- Total Liabilities: $15,400
- Net Assets: $1,669,220
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Organization Details
Founding Year
2011
Phone
(662) 489-2415Principal Officer
Vernon Kelley Iii
Main Address
75 SOUTH MAIN STREET, PONTOTOC, MS, 38863
Website
www.trpdd.comNTEE Category
Code: L20 - Housing
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