Overview
What is East Las Vegas Qalicb Inc?
East Las Vegas Qalicb Inc is a nonprofit organization situated in Las Vegas, Nevada. Their primary mission is to acquire and lease real or personal property with specific restrictions and limitations, primarily benefiting the Las Vegas-Clark County Library District. Through an arrangement under the New Markets Tax Credit Program (NMTC), they secured financing, resulting in two long-term loans with low-interest rates. These loans, secured by deeds of trust and assignments of leases and rents, will be paid off by July 2057. The organization's 2022 expenses primarily consisted of interest on these loans and depreciation.
Is East Las Vegas Qalicb Inc legitimate?
East Las Vegas Qalicb Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Las Vegas Qalicb Inc 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:
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What is the mission statement of East Las Vegas Qalicb Inc?
East Las Vegas Qalicb Inc's primary mission is to acquire and lease real or personal property, subject to certain restrictions and limitations. This is done with the aim of benefiting the Las Vegas-Clark County Library District. The organization secured financing for this mission under the New Markets Tax Credit Program (NMTC). As a result, they entered into two notes payable, which are secured by a deed of trust and assignments of leases and rents. These notes bear interest at 1.20296% and are payable through July 25, 2057. The expenses incurred in the fiscal year 2022 included interest on the two loans and depreciation. While this information primarily focuses on the financial aspects and the use of the NMTC program, it can be inferred that East Las Vegas Qalicb Inc is committed to supporting the library district in some capacity.
Who is the CEO of East Las Vegas Qalicb Inc?
Floresto Cabias is the Secretary-Tr of East Las Vegas Qalicb Inc.
What is the revenue of East Las Vegas Qalicb Inc?
East Las Vegas Qalicb Inc's revenue in 2022 was $317,273.
Who are the executives of East Las Vegas Qalicb Inc and what are their salaries?
Here are 5 key members and their salaries:
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- Related: $152,383
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Where can I find the form 990 for East Las Vegas Qalicb Inc?
East Las Vegas Qalicb Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of East Las Vegas Qalicb Inc
East Las Vegas Qalicb Inc, as a nonprofit organization, is dedicated to acquiring and leasing real or personal property under specific restrictions and limitations. This mission serves the benefit of the Las Vegas-Clark County Library District. By participating in the New Markets Tax Credit Program (NMTC), East Las Vegas Qalicb Inc secured financing through two notes payable, secured by a deed of trust and assignments of leases and rents. These notes bear interest at 1.20296% and are payable through July 25, 2057. The organization's expenses in fiscal year 2022 included interest on these loans and depreciation. In essence, East Las Vegas Qalicb Inc works to acquire and manage property for the betterment of the Las Vegas-Clark County Library District under the framework of the NMTC program.
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Impact
October, 2024
East Las Vegas Qalicb Inc plays a vital role in enhancing the resources available to the Las Vegas-Clark County Library District by acquiring and leasing real or personal property under specific restrictions and limitations. Through its participation in the New Markets Tax Credit Program (NMTC), the organization has successfully secured financing that supports its mission, ensuring that the library district can better serve the community's informational and educational needs.
The financial structure established, with notes payable secured by a deed of trust and assignments of leases and rents, allows East Las Vegas Qalicb Inc to operate sustainably while providing essential resources for the library district. The low-interest rates on these loans, set at 1.20296%, are conducive to long-term financial health and the ability to invest back into the services offered to the community.
By prioritizing the library district's needs, East Las Vegas Qalicb Inc contributes significantly to the educational landscape in Las Vegas, enhancing access to information and fostering a culture of learning. This impact extends beyond mere financial support; it facilitates the development and maintenance of spaces where individuals can gather, learn, and grow, reinforcing the library's role as a cornerstone of community education.
This information is meant to be a general summary of East Las Vegas Qalicb Inc. 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: $317,273
- Gross Receipts: $317,273
Assets and Liabilities:
- Total Assets: $24,292,552
- Total Liabilities: $16,606,265
- Net Assets: $7,686,287
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMUNITY LIBRARY RENT
Revenue
$317,273
Organization Details
Founding Year
2017
Phone
(702) 507-3559Principal Officer
Floresto Cabias
Main Address
7060 WEST WINDMILL LANE, LAS VEGAS, NV, 89113
NTEE Category
Code: B11 - Education
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