Overview
What is South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation)?
South Louisiana Facilities Corporation, previously known as SLCC Facilities Corporation, is a nonprofit organization dedicated to constructing a building that accommodates academic facilities and administrative offices for South Louisiana Community College (SLCC). This college is part of the Louisiana Community and Technical College System (LCTCS), a state institution. The corporation leases property in Lafayette, Louisiana, from LCTCS and finances the construction through a bond issue by the Lafayette Public Trust Financing Authority (LPTFA). The corporation then leases the facilities back to LCTCS under a net lease with an option to purchase, and the lease payments are utilized to repay the bond financing. The corporation's mission focuses on contributing to the educational growth and development of the community through the provision of well-equipped facilities for SLCC.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
The South Louisiana Facilities Corporation has received an 81% rating from Charity Navigator, which falls into the Three-Star category. This rating primarily reflects the organization’s strong performance in Accountability & Finance, indicating a solid commitment to transparency and financial integrity.
The organization boasts a perfect score for having a majority of independent board members and demonstrates thorough oversight over its financial statements. It also maintains policies on conflict of interest and document retention, which contribute positively to its accountability measures. Additionally, the charity's program expense ratio is commendable, indicating that a significant portion of its funding is directed towards its programs.
However, while the organization has strengths in various financial metrics, its Liabilities to Assets ratio of 52.49% suggests that there may be some concerns regarding financial leverage. Overall, the South Louisiana Facilities Corporation showcases a responsible approach to governance and financial management, though potential donors might want to consider its leverage position when evaluating support.
This AI summary has been generated from information found on Charity Navigator.
Is South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation) legitimate?
South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation) is a legitimate nonprofit organization registered as a 501(c)(3) entity. South Louisiana Facilities Corporation (Formerly Slcc 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
For more financial information, click here
What is the mission statement of South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation)?
The South Louisiana Facilities Corporation, formerly known as SLCC Facilities Corporation, is an organization that constructs a building, serving as a home for academic facilities and offices, for South Louisiana Community College (SLCC). This institution is managed by the Louisiana Community and Technical College System (LCTCS). The corporation finances the construction through a bond issue by the Lafayette Public Trust Financing Authority (LPTFA). The facility is leased to LCTCS under a net lease with an option to purchase, and the lease payments are utilized to repay the bond financing. In essence, the corporation's mission is to support the educational growth of the community college by providing a suitable infrastructure.
Who is the CEO of South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation)?
Brett Mellington is the President/Director of South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation).
What is the revenue of South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation)?
South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation)'s revenue in 2023 was $1,432,509.
Who are the executives of South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation) and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation)?
South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation)'s most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of South Louisiana Facilities Corporation (Formerly Slcc Facilities Corporation)
South Louisiana Facilities Corporation, formerly known as Slcc Facilities Corporation, is a nonprofit organization with a mission to construct a building equipped with academic facilities and offices for South Louisiana Community College (SLCC). This institution is operated by the Louisiana Community and Technical College System (LCTCS), a state-level entity. The corporation finances the construction through a bond issue by the Lafayette Public Trust Financing Authority (LPTFA). The organization leases the property and the constructed building to LCTCS under a net lease, with an option to purchase the facilities at a later stage. The lease payments are utilized to repay the bond financing. In essence, South Louisiana Facilities Corporation plays a crucial role in providing South Louisiana Community College with the necessary infrastructure for academic and administrative activities.
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Impact
July, 2024
South Louisiana Facilities Corporation (formerly Slcc Facilities Corporation) plays a crucial role in providing academic facilities and offices for South Louisiana Community College (SLCC), a state community college operated by the Louisiana Community and Technical College System (LCTCS). By constructing a building on the SLCC campus, the corporation enables the college to offer quality education and support services to its students and faculty. This infrastructure development contributes to the enhancement of educational opportunities in the region and supports the growth of the local community.
This information is meant to be a general summary of South Louisiana Facilities Corporation (Formerly Slcc 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: $68,751
- Program Service Revenue: $1,202,344
- Gross Receipts: $1,432,509
Assets and Liabilities:
- Total Assets: $10,642,200
- Total Liabilities: $5,586,400
- Net Assets: $5,055,800
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME - SOUTH
Revenue
$1,202,344
Organization Details
Founding Year
2001
Phone
(225) 381-8028Principal Officer
Brett Mellington
Main Address
301 MAIN STREET SUITE 2300, BATON ROUGE, LA, 70801
NTEE Category
Code: B99 - Education
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