Overview
What is Eca Support Corporation?
Eca Support Corporation is a District of Columbia-based nonprofit organization, established in 2018. Their primary purpose is to participate in the Internal Revenue Service's Federal New Market Tax Credit (NMTC) program. This program aims to fund the development and construction of a new facility site and campus for a public charter school, accommodating 300 students, located at 885 Barnaby Street in Washington, D.C. The Eca Support Corporation functions as a leverage lender to indirectly fund NMTC loans, supporting the Early Childhood Academy Public Charter School's operations. Additionally, they provide the project's equity investor with assurances regarding the project's eligibility for the New Markets Tax Credits.
Is Eca Support Corporation legitimate?
Eca Support Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Eca Support 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:
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What is the mission statement of Eca Support Corporation?
Eca Support Corporation's mission is centered around supporting and facilitating a series of loans for the Early Childhood Academy through the New Markets Tax Credit (NMTC) program. Their objective is to develop and construct a new 300-student public charter school facility. Additionally, the corporation serves as a leveraged lender under the NMTC program, providing assurances to the project's equity investor regarding the project's eligibility for the New Markets Tax Credits. In essence, Eca Support Corporation is committed to contributing to the development of educational facilities through strategic financial support.
Who is the CEO of Eca Support Corporation?
Wendy Edwards is the President of Eca Support Corporation.
What is the revenue of Eca Support Corporation?
Eca Support Corporation's revenue in 2023 was $561,414.
Who are the executives of Eca Support Corporation and what are their salaries?
There 5 volunteers at Eca Support Corporation.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Eca Support Corporation?
Eca Support Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Eca Support Corporation
Eca Support Corporation's mission revolves around supporting and facilitating a complex series of loans for the Early Childhood Academy through the New Markets Tax Credit (NMTC) program. This mission aims to develop and construct a 300-student public charter school facility. The corporation acts as a leveraged lender under the NMTC program, providing assurances to the project's equity investor regarding the project's eligibility for the New Markets Tax Credits. In essence, Eca Support Corporation plays a crucial role in financing the construction of this educational facility, thereby contributing to the development of quality education opportunities.
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Impact
October, 2024
Eca Support Corporation plays a vital role in enhancing educational opportunities in Washington, D.C. by facilitating the development of a new public charter school facility aimed at serving 300 students. Through its active involvement in the New Markets Tax Credit (NMTC) program, the organization helps secure essential funding for the Early Childhood Academy.
By acting as a leveraged lender, Eca Support Corporation ensures that the necessary financial resources are available to construct and operate the school's new campus located at 885 Barnaby Street, SE. This initiative strengthens the educational infrastructure in the area, providing a dedicated space for early childhood education that can positively impact the community's future.
Moreover, Eca Support Corporation’s commitment to providing assurances to equity investors regarding the project's eligibility for NMTCs showcases their expertise and dedication, fostering confidence in potential investors. The cumulative impact of these efforts not only benefits the students and families served by the Early Childhood Academy but also contributes to the broader community's development by improving access to quality education.
This information is meant to be a general summary of Eca Support 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: $561,414
- Gross Receipts: $561,414
Assets and Liabilities:
- Total Assets: $11,238,307
- Total Liabilities: $9,814,889
- Net Assets: $1,423,418
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Organization Details
Founding Year
2018
Phone
(202) 373-0035Principal Officer
Wendy Edwards
Main Address
885 BARNABY STREET SE, WASHINGTON, DC, 20032
NTEE Category
Code: B11 - Education
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