Overview
What is Las Vegas Community Investment Corp?
Las Vegas Community Investment Corp is a dedicated nonprofit organization, established in August 2012, with a mission to revitalize impoverished communities within Las Vegas' most distressed neighborhoods. As a community development entity, it actively pursues New Markets Tax Credit (NMTC) allocations, offering flexible financing to eligible borrowers. The corporation has successfully secured approval for subsidiary allocatees from the CDFI fund, acting as the managing member for each. Through its initiatives, Las Vegas Community Investment Corp works tirelessly to foster economic growth and improve living conditions in underprivileged areas of Las Vegas.
Is Las Vegas Community Investment Corp legitimate?
Las Vegas Community Investment Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Las Vegas Community Investment 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.
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 Las Vegas Community Investment Corp?
The Las Vegas Community Investment Corp's mission is centered around developing projects in areas of low income, situated within highly distressed neighborhoods. This nonprofit organization was established with the goal of securing New Markets Tax Credit (NMTC) allocation, providing flexible financing to eligible borrowers. By establishing subsidiary allocatees approved by the CDFI fund, under its allocation agreements, the organization serves as the managing member of each. The main objective is to contribute positively to the economic development and revitalization of these underprivileged communities.
Who is the CEO of Las Vegas Community Investment Corp?
Gary Ameling is the President of Las Vegas Community Investment Corp.
What is the revenue of Las Vegas Community Investment Corp?
Las Vegas Community Investment Corp's revenue in 2022 was $710,661.
Who are the executives of Las Vegas Community Investment Corp and what are their salaries?
Here are 8 key members and their salaries:
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- Related: $250,709
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- Related: $318,965
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- Related: $178,143
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- Related: $219,978
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- Related: $167,608
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- Related: $222,331
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- Compensation: $0
- Related: $220,071
- Other: $0
Where can I find the form 990 for Las Vegas Community Investment Corp?
Las Vegas Community Investment Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Las Vegas Community Investment Corp
Las Vegas Community Investment Corp, a nonprofit community development entity, is committed to making a difference in low-income areas within highly distressed neighborhoods of Las Vegas. Established in August 2012, the organization seeks to achieve this mission by developing projects in these underserved areas. To facilitate this, Las Vegas Community Investment Corp pursues New Markets Tax Credit (NMTC) allocation, offering flexible financing to eligible borrowers. The nonprofit has also established subsidiary allocatees approved by the CDFI fund, acting as the managing member of each. By engaging in these activities, Las Vegas Community Investment Corp works towards revitalizing these neighborhoods and improving the living conditions of its residents.
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Impact
October, 2024
Las Vegas Community Investment Corp plays a pivotal role in revitalizing low-income areas within the city's most distressed neighborhoods. By focusing on project development in these communities, the organization leverages New Markets Tax Credit (NMTC) allocations to provide flexible financing options to borrowers, facilitating much-needed investments in infrastructure, services, and economic opportunities.
Since its establishment in August 2012, the organization has successfully created subsidiary allocatees approved by the CDFI Fund, enhancing its capacity to manage and distribute capital for community improvement. This approach not only supports individual projects but also fosters broader economic growth and stability in neighborhoods that often face significant challenges.
Through its mission, Las Vegas Community Investment Corp contributes to the enhancement of quality of life for residents, generating jobs, increasing access to essential services, and promoting overall community development. The organization's impact is felt across various dimensions, from helping small businesses thrive to providing safe spaces and resources for families and individuals in need.
This information is meant to be a general summary of Las Vegas Community Investment 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.
- Program Service Revenue: $710,661
- Gross Receipts: $710,661
Assets and Liabilities:
- Total Assets: $3,173,168
- Total Liabilities: $44,459
- Net Assets: $3,128,709
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ASSET MANAGEMENT FEE
Revenue
$609,883
INCENTIVE MANAGEMENT
Revenue
$65,776
REBATES AND REFUNDS
Revenue
$23,869
DEBT FINANCE INCOME
Revenue
$11,100
CDE INCOME
Revenue
$33
Organization Details
Founding Year
2012
Phone
(702) 229-6077Principal Officer
Gary Ameling
Main Address
495 SOUTH MAIN STREET 6TH FLOOR, LAS VEGAS, NV, 89101
NTEE Category
Code: S20 - Community improvement
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