Overview
What is Bac Funding Corporation?
Bac Funding Corporation is a nonprofit organization, established in April 1982, originating from the Business Revitalization Action Committee of the Greater Miami Chamber of Commerce. Situated in Miami, Florida, the organization aims to foster economic growth in Liberty City, specifically for minority group residents of Miami-Dade County. Bac Funding Corporation achieves this objective by providing credit to both new and existing businesses within the county. Their mission is centered around developing and expanding these businesses, thereby stimulating the local economy. The corporation operates from an office space leased by Miami-Dade County, with a modest workforce of three individuals.
Official website here: www.bacfunding.com
Is Bac Funding Corporation legitimate?
Bac Funding Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bac Funding 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.
Here are some key statistics you may want to consider:
Executive Compensation: $160,585
Professional Fundraising Fees: $0
Other Salaries and Wages: $138,764
For more financial information, click here
What is the mission statement of Bac Funding Corporation?
Bac Funding Corporation, a nonprofit organization, was established in April 1982 as an extension of the Business Revitalization Action Committee of the Greater Miami Chamber of Commerce. Its primary objective is to stimulate economic growth in Liberty City, specifically for the minority group residents of Miami-Dade County, Florida. This is achieved by offering credit to both new and existing businesses within the county, thereby aiding in their development and expansion. In essence, Bac Funding Corporation is dedicated to fostering business growth and prosperity among the minority community.
Official website here: www.bacfunding.com
Who is the CEO of Bac Funding Corporation?
Ronald Frazier is the Chairman of Bac Funding Corporation.
Official website here: www.bacfunding.com
What is the revenue of Bac Funding Corporation?
Who are the executives of Bac Funding Corporation and what are their salaries?
The average compensation at Bac Funding Corporation during 2022 was $99,783. There are 3 employees and 12 volunteers at Bac Funding Corporation.
Here are 13 key members and their salaries:
- Jessie Houston Ii (Controller)
- Stephen Johnson (Director)
- Ricardo Forbes (Director)
- Leonard Garrett (Director)
- John Hall (Director)
- Miguel Rasco (Director)
- Linda Bryant (Director)
- Ronald Frazier (Chairman) [Trustee/Director]
- Mr Otto Latimer (Secretary) [Trustee/Director]
- Eric Knowles (Director)
- Patrick Range Ii (Director)
- Sonless Martin (Director)
- Monique Haynes (Director)
Official website here: www.bacfunding.com
Where can I find the form 990 for Bac Funding Corporation?
The Bac Funding Corporation’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.bacfunding.com
Learn more at the official website: www.bacfunding.com
Mission Statement of Bac Funding Corporation
Bac Funding Corporation, a nonprofit organization born from the Business Revitalization Action Committee of the Greater Miami Chamber of Commerce, was established in April 1982 with a mission to stimulate economic growth in Liberty City. The primary objective of Bac Funding Corporation is to support and foster the development and expansion of both new and existing businesses within Miami-Dade County, Florida. To achieve this goal, the corporation extends credit to businesses within the region, focusing on promoting economic opportunities for minority group residents. By extending credit and supporting the growth of businesses, Bac Funding Corporation plays a pivotal role in enhancing the local economy and providing resources for underrepresented communities.
Impact
This information is meant to be a general summary of Bac Funding Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
BAC Funding Corporation has a significant impact on the economic growth and development of Liberty City and the minority group residents of Miami-Dade County, Florida. By providing credit to new and existing businesses in the area, BAC plays a crucial role in stimulating economic activity, creating opportunities for entrepreneurship, and supporting the local community. Additionally, the Martin Luther King (MLK) Building Project, which is maintained by BAC, provides essential office space for various organizations in Miami-Dade County. Overall, BAC Funding Corporation's efforts contribute to the improvement and prosperity of the community it serves.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Administrative Fees
Revenue
$1,388
Consulting Fees
Revenue
$19,465
Interest on Leased Asset
Revenue
$668,209
Management Fees
Revenue
$231,811
Rental Income
Revenue
$3,131,371
Organization Details
Founding Year
1982
Phone
(305) 693-3550
Principal Officer
Ronald Frazier
Main Address
6600 NW 27TH AVENUE, MIAMI, FL, 33147
Website
www.bacfunding.com
NTEE Category
Code: S310 - Community improvement
If you are a representative of Bac Funding Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.