Overview
What is Fbnega Title Holding Company?
Fbnega Title Holding Company is a qualified active low-income community business (QALICB) that serves a unique purpose. Its primary mission is to manage property titles and collect income generated from these properties. The company then transfers the net income, after deducting expenses, to the Food Bank of Northeast Georgia, Inc., a nonprofit organization exempt from federal income tax under section 501(c)(3). By doing so, Fbnega Title Holding Company plays a crucial role in supporting the Food Bank's efforts in addressing food insecurity in the region.
Is Fbnega Title Holding Company legitimate?
Fbnega Title Holding Company is a legitimate nonprofit organization registered as a 501(c)(2) entity. Fbnega Title Holding Company 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 Fbnega Title Holding Company?
Fbnega Title Holding Company serves as a Qualified Active Low Income Community Business (QALICB) for New Markets Tax Credit purposes. Its primary mission is to hold title to property, generate income from these properties, and subsequently transfer the entire income, after deducting expenses, to the Food Bank of Northeast Georgia, Inc. This non-profit organization, exempt from federal income tax under Section 501(C)(3), utilizes the funds received for its charitable activities. The Food Bank of Northeast Georgia, Inc., in turn, works towards alleviating hunger in the community.
Who is the CEO of Fbnega Title Holding Company?
Erin Barger is the Executive Di of Fbnega Title Holding Company.
What is the revenue of Fbnega Title Holding Company?
Fbnega Title Holding Company's revenue in 2023 was $97,746.
Who are the executives of Fbnega Title Holding Company and what are their salaries?
Here are 16 key members and their salaries:
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Where can I find the form 990 for Fbnega Title Holding Company?
Fbnega Title Holding Company's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Fbnega Title Holding Company
Fbnega Title Holding Company, as a Qualified Active Low-Income Community Business (QALICB), has a primary mission aimed at New Markets Tax Credit purposes. This organization's primary function is to hold title to property and collect income generated from that property. The corporation then proceeds to transfer the entire income, less expenses, to the Food Bank of Northeast Georgia, Inc., a nonprofit organization exempt from federal income tax under Section 501(c)(3). Essentially, the mission of Fbnega Title Holding Company involves generating income through property ownership and channeling the proceeds to a charitable organization focused on alleviating hunger in the northeastern part of Georgia.
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Impact
October, 2024
Fbnega Title Holding Company plays a crucial role in supporting the Food Bank of Northeast Georgia by generating income through the management of properties. As a Qualified Active Low-Income Community Business (QALICB) for New Markets Tax Credit purposes, the organization is strategically positioned to enhance community resources.
By holding title to properties and collecting income, Fbnega Title Holding Company effectively channels funds directly to the Food Bank, ensuring that the entirety of this income, after covering necessary expenses, contributes to alleviating food insecurity in the region. This financial support helps the Food Bank expand its operations, improve service delivery, and increase access to essential food resources for individuals and families in need.
The organization’s commitment to community improvement underscores its significance in fostering a sustainable model that not only addresses immediate hunger issues but also promotes long-term economic development in low-income areas. Through its actions, Fbnega Title Holding Company helps create a more resilient and equitable community in Northeast Georgia.
This information is meant to be a general summary of Fbnega Title Holding Company. 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.
- Program Service Revenue: $97,746
- Gross Receipts: $97,746
Assets and Liabilities:
- Total Assets: $6,368,656
- Total Liabilities: $7,351,000
- Net Assets: -$982,344
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME FROM SPONSOR
Revenue
$97,746
Organization Details
Founding Year
2016
Principal Officer
Erin Barger
Main Address
861 NEWTON BRIDGE DR, ATHENS, GA, 30604
NTEE Category
Code: S47 - Community improvement
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