Overview
What is Heritage U Leverage Lender?
Heritage U Leverage Lender is a supporting organization established to aid Heritage University. Its primary role involves participating in a New Markets Tax Credit transaction, providing a leveraged loan to an investment fund entity. This loan is utilized to make a qualified equity investment into a qualifying community development entity, as defined in I.R.C. 45D. The ultimate goal is to support Heritage University's campus expansion plan, which includes building facilities for classrooms, computer labs, an art studio, dining facilities, and housing for information technology. By doing so, Heritage U Leverage Lender serves to financially and operationally benefit Heritage University, contributing to its growth and development.
Is Heritage U Leverage Lender legitimate?
Heritage U Leverage Lender is a legitimate nonprofit organization registered as a 501(c)(3) entity. Heritage U Leverage Lender 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
For more financial information, click here
What is the mission statement of Heritage U Leverage Lender?
Heritage U Leverage Lender's mission is to support and benefit Heritage University financially and operationally. To accomplish this, the organization participates in a New Markets Tax Credit transaction, providing a leveraged loan to an investment fund entity. This fund aggregates other funds to make a qualified equity investment to a qualified community development entity, ultimately funding an affiliated supporting organization of Heritage University to facilitate its campus expansion plans. The expansion includes the development of buildings for classrooms, computer labs, an art studio, dining facilities, and information technology. In support of this mission, Heritage U Leverage Lender provides various services to Heritage University.
Who is the CEO of Heritage U Leverage Lender?
Andrew Sund is the President, Heritage University of Heritage U Leverage Lender.
What is the revenue of Heritage U Leverage Lender?
Heritage U Leverage Lender's revenue in 2022 was $48,059.
Who are the executives of Heritage U Leverage Lender and what are their salaries?
There 1 volunteer at Heritage U Leverage Lender.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $294,525
- Other: $30,924
- Compensation: $0
- Related: $137,132
- Other: $20,097
- Compensation: $0
- Related: $141,750
- Other: $10,190
- Compensation: $0
- Related: $130,540
- Other: $20,075
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Heritage U Leverage Lender?
Heritage U Leverage Lender's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Heritage U Leverage Lender
Heritage U Leverage Lender, as its name suggests, is an organization with a mission to support and benefit Heritage University financially and operationally. This support takes the form of participating in a New Markets Tax Credit transaction, where the organization provides a leveraged loan to an investment fund entity. This fund then aggregates other funds to make a qualified equity investment in a Qualified Community Development Entity. The ultimate goal is to make these funds available to an affiliated supporting organization of Heritage University, which in turn facilitates the university's campus expansion plan. This plan includes the development of buildings for classrooms, computer labs, an art studio, dining facilities, and to house information technology. In essence, Heritage U Leverage Lender serves as a crucial financial supporter, aiding Heritage University in its growth and development.
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Impact
October, 2024
Heritage U Leverage Lender plays a critical role in facilitating the growth and development of Heritage University by providing essential financial support for its expansion efforts. Through its participation in a New Markets Tax Credit transaction, the organization extends leveraged loans that enable the aggregation of other funds, which are then directed toward making qualified equity investments.
This funding strategy is vital for Heritage University's campus expansion plan, which aims to enhance educational facilities. The development of new buildings for classrooms, computer labs, an art studio, dining facilities, and information technology resources is a direct outcome of the financial support provided by Heritage U Leverage Lender. By ensuring that Heritage University has access to the necessary capital, the organization directly contributes to improved educational opportunities for students and strengthens the institution's operational capacity.
Overall, the impact of Heritage U Leverage Lender is significant, as it supports the educational mission of Heritage University, helping to create a more robust learning environment and enhancing the overall student experience.
This information is meant to be a general summary of Heritage U Leverage Lender. 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: $48,059
- Gross Receipts: $48,059
Assets and Liabilities:
- Total Assets: $6,587,500
- Total Liabilities: $0
- Net Assets: $6,587,500
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Organization Details
Founding Year
2015
Phone
(509) 865-8663Principal Officer
Andrew Sund
Main Address
3240 FORT RD, TOPPENISH, WA, 98948
NTEE Category
Code: B11 - Education
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