Overview
What is Brcc Facilities Corporation?
Brcc Facilities Corporation is a nonprofit organization that works in close partnership with Baton Rouge Community College (BRCC) and the Louisiana Community and Technical College System (LCTCS). Its primary mission is to construct academic facilities and offices for BRCC, which are currently leased from LCTCS. The corporation finances its construction projects through bond issues, with the Louisiana Local Government Environment Facilities and Community Development Authority (LCDA) playing a role. After the bond financing is repaid, the buildings will be transferred to the State of Louisiana for BRCC's use. The corporation operates under a net lease agreement with an option to purchase, and the lease payments are used to repay the bond financing. The funds for LCTCS to pay the lease payments are appropriated by the State of Louisiana under a Cooperative Endeavor Agreement. In summary, Brcc Facilities Corporation plays a crucial role in expanding BRCC's campus infrastructure, with funding and oversight provided by various state entities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
Brcc Facilities Corporation has received a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The organization boasts an impressive program expense ratio of 98.85%, indicating that a significant portion of its resources is directed towards its mission-related activities. Additionally, the charity demonstrates strong governance practices, evidenced by its fully independent board of directors and adherence to policies on conflict of interest and document retention.
The charity's accountability measures are well-structured, with perfect scores in areas such as financial oversight and material diversion of assets. These factors contribute to a transparent operational framework, which is essential for building trust with donors and the community. The presence of an Audit and Oversight Committee further strengthens confidence in the organization’s financial integrity.
While the overall rating signifies a competent level of operation, there may still be areas for improvement, particularly in expanding board diversity and enhancing outreach efforts. Continued focus on sustainability and program effectiveness will be crucial for Brcc Facilities Corporation as it seeks to maximize its impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Brcc Facilities Corporation legitimate?
Brcc Facilities Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Brcc Facilities 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Brcc Facilities Corporation?
The Brcc Facilities Corporation's primary role is to construct academic facilities and offices for a community college, specifically Baton Rouge Community College (BRCC). The corporation leases property for this purpose from the Louisiana state government. The construction of these facilities is financed through a bond issue by the Louisiana Local Government Environment Facilities and Community Development Authority (LCDA). Once the bond financing is repaid, the ownership of the facilities will be transferred to the State of Louisiana for the use of BRCC, a state community college managed by the Louisiana Community and Technical College System (LCTCS). The lease payments made by LCTCS are used to repay the bond financing, with funds for these payments being appropriated by the State of Louisiana under a Cooperative Endeavor Agreement.
Who is the CEO of Brcc Facilities Corporation?
Fabian Blache Jr is the President of Brcc Facilities Corporation.
What is the revenue of Brcc Facilities Corporation?
Brcc Facilities Corporation's revenue in 2023 was $5,180,979.
Who are the executives of Brcc Facilities Corporation and what are their salaries?
Here are 3 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for Brcc Facilities Corporation?
Brcc Facilities Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Brcc Facilities Corporation
Brcc Facilities Corporation, as a nonprofit entity, is primarily dedicated to constructing academic facilities and offices for Baton Rouge Community College (BRCC). The corporation leases property from the Louisiana state government and finances its construction projects through bond issues. Once the bond financing is repaid, Brcc Facilities Corporation's facilities will be transferred to the State of Louisiana for use by BRCC, a state community college operated by the Louisiana Community and Technical College System (LCTCS). Essentially, Brcc Facilities Corporation plays a crucial role in expanding BRCC's campus infrastructure, contributing to the provision of quality education and academic resources for the community.
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Impact
July, 2024
Brcc Facilities Corporation's impact is significant in providing essential infrastructure for the Baton Rouge Community College (BRCC). By constructing buildings with academic facilities and offices, the corporation supports the educational needs of the community college, ultimately benefiting students, faculty, and staff. This initiative contributes to the overall development and growth of BRCC, enhancing the educational environment and opportunities available to individuals in Baton Rouge, Louisiana.
This information is meant to be a general summary of Brcc Facilities 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 2023.
- Investment Income: $95,736
- Program Service Revenue: $4,310,243
- Gross Receipts: $5,180,979
Assets and Liabilities:
- Total Assets: $45,990,612
- Total Liabilities: $39,431,047
- Net Assets: $6,559,565
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME - BRCC
Revenue
$4,310,243
Organization Details
Founding Year
2002
Phone
(225) 387-4000Principal Officer
Fabian Blache Jr
Main Address
ONE AMERICAN PLACE SUITE 2300, BATON ROUGE, LA, 70825
NTEE Category
Code: B82 - Education
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