Overview
What is City Of Willits Public Facilities Corp?
City of Willits Public Facilities Corp is a nonprofit organization based in Willits, California. Its primary mission is to raise funds through public offerings of bonds and loans for the purpose of financing lease agreements for the City of Willits. This corporation aids in securing financial resources to support various public facilities within the city.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56%, One-Star out of Four Star rating.
The City Of Willits Public Facilities Corp has received a low rating of 56% from Charity Navigator, indicating areas of concern in its accountability and financial practices. While the organization boasts a fully independent board and demonstrates transparency through its documentation of board meeting minutes, it falls short in key financial reporting metrics, including the absence of financial statements on its website.
Strengths of the organization include a strong program expense ratio and no material diversion of assets, showcasing a commitment to its operational integrity. However, the nonprofit has significant weaknesses, including missing essential policies such as a whistleblower policy and guidelines for document retention and destruction. Additionally, the organization's liabilities to assets ratio implies potential financial strain that may impact its sustainability.
Overall, the City Of Willits Public Facilities Corp has a solid governance structure but faces considerable challenges in financial transparency and reporting. These issues may hinder stakeholder trust and the organization's overall effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is City Of Willits Public Facilities Corp legitimate?
City Of Willits Public Facilities Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. City Of Willits Public Facilities Corp 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 City Of Willits Public Facilities Corp?
The City of Willits Public Facilities Corp's primary mission is to facilitate financing for lease agreements. They accomplish this by securing funds through public offerings of bonds and loans. This financial support enables the corporation to contribute to various projects and initiatives, thereby benefiting the city in an unspecified capacity. While the mission statement focuses on financial facilitation, the specific projects or services these funds support are not detailed in the provided information.
Who is the CEO of City Of Willits Public Facilities Corp?
Cathy Moorhead is the President of City Of Willits Public Facilities Corp.
What is the revenue of City Of Willits Public Facilities Corp?
City Of Willits Public Facilities Corp's revenue in 2022 was $864,721.
Who are the executives of City Of Willits Public Facilities Corp and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for City Of Willits Public Facilities Corp?
City Of Willits Public Facilities Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of City Of Willits Public Facilities Corp
The City of Willits Public Facilities Corp is dedicated to financing lease agreements for the benefit of the City of Willits. They accomplish this by securing funding through public offerings of bonds and loans. In essence, this organization serves as a financial intermediary, providing the necessary capital to facilitate lease agreements for various public facilities within the city. By doing so, the City of Willits Public Facilities Corp plays a crucial role in supporting the city's infrastructure and development projects, ultimately contributing to the betterment of the community.
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Impact
July, 2024
The City Of Willits Public Facilities Corp plays a crucial role in financing lease agreements for the City of Willits. This is achieved through public offerings of bonds and loans, securing the necessary funding for various public facilities and amenities in the city. In doing so, the organization contributes to the improvement and development of infrastructure and services that benefit the residents and community of Willits, CA.
This information is meant to be a general summary of City Of Willits Public Facilities Corp. 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.
- Gross Receipts: $864,721
Assets and Liabilities:
- Total Assets: $15,149,000
- Total Liabilities: $15,149,000
- Net Assets: $0
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Organization Details
Founding Year
1984
Phone
(707) 459-4601Principal Officer
Cathy Moorhead
Main Address
111 E COMMERCIAL STREET, WILLITS, CA, 95490
NTEE Category
Code: W99Z - Public benefit
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