Overview
What is Peninsula Industrial Finance Corporation?
Peninsula Industrial Finance Corporation, situated in Newport News, Virginia, serves as a catalyst for economic growth within the area, primarily focusing on Newport News and Hampton. By operating two financing programs, the Peninsula Revolving Loan Program and the Peninsula CARES Act Fund, they provide essential financial assistance to companies operating within key economic industries. The loans, which can finance equipment, working capital, and fixed assets, help bolster the local economy by offering funds to eligible businesses. In essence, Peninsula Industrial Finance Corporation plays a vital role in fostering financial stability and promoting economic expansion in its community.
Is Peninsula Industrial Finance Corporation legitimate?
Peninsula Industrial Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Peninsula Industrial 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.
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What is the mission statement of Peninsula Industrial Finance Corporation?
The Peninsula Industrial Finance Corporation's mission is centered around promoting economic growth. They achieve this by providing loans through the Peninsula Revolving Fund Program and the Peninsula CARES Act Fund. This financial assistance is designed to support companies in sectors that form the economic base, primarily located in Hampton and Newport News, Virginia. The loans can be utilized to finance equipment, working capital, and fixed assets. In essence, the corporation's mission is to foster economic development by providing essential financial resources to eligible businesses.
Who is the CEO of Peninsula Industrial Finance Corporation?
Beth Moore is the Vp And Vice Chair of Peninsula Industrial Finance Corporation.
What is the revenue of Peninsula Industrial Finance Corporation?
Peninsula Industrial Finance Corporation's revenue in 2022 was $685,392.
Who are the executives of Peninsula Industrial Finance Corporation and what are their salaries?
There 5 volunteers at Peninsula Industrial Finance Corporation.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Peninsula Industrial Finance Corporation?
Peninsula Industrial Finance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Peninsula Industrial Finance Corporation
Peninsula Industrial Finance Corporation, in its mission, aids in fostering economic growth in unspecified locations. They accomplish this by offering loans through two distinct programs: the Peninsula Revolving Fund Program and the Peninsula CARES Act Fund. The Peninsula Revolving Loan Program is designed to provide financial assistance to businesses operating in essential industries, located in Hampton and Newport News, Virginia. These loans can be utilized to finance equipment, working capital, and fixed assets, thereby contributing to the overall development of these companies.
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Impact
October, 2024
Peninsula Industrial Finance Corporation plays a crucial role in fostering economic growth in Newport News and Hampton, Virginia. By facilitating access to financial resources through its Peninsula Revolving Loan Program and the Peninsula Cares Act Fund, it empowers local businesses in key economic sectors. The organization provides loans that can be used for purchasing equipment, supporting working capital needs, and investing in fixed assets. This financial support not only aids in the development and expansion of existing businesses but also attracts new investments, ultimately contributing to job creation and economic stability in the region. Through its initiatives, Peninsula Industrial Finance Corporation significantly enhances the business landscape, driving progress and prosperity in the local communities it serves.
This information is meant to be a general summary of Peninsula Industrial 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.
- Program Service Revenue: $10,220
- Gross Receipts: $685,392
Assets and Liabilities:
- Total Assets: $2,309,471
- Total Liabilities: $0
- Net Assets: $2,309,471
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN FEES
Revenue
$6,050
INTEREST ON LOANS
Revenue
$4,170
Organization Details
Founding Year
1946
Phone
(757) 926-8428Principal Officer
Beth Moore
Main Address
2400 WASHINGTON AVE, NEWPORT NEWS, VA, 23601
NTEE Category
Code: T00 - Philanthropy
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