Overview
What is Acfb Support Organization Inc?
Acfb Support Organization Inc is a nonprofit entity established to support Atlanta Community Food Bank (ACFB) in its mission to combat hunger in the community. They accomplish this by securing financing through community development lenders, leveraging New Markets Tax Credits, to construct a new headquarters and distribution center in Atlanta, Georgia. The funds obtained are then utilized to complete the project, which is subsequently leased back to ACFB for their operations and services. In essence, Acfb Support Organization Inc serves as a key facilitator in ACFB's mission to provide food assistance and alleviate hunger within their community.
Is Acfb Support Organization Inc legitimate?
Acfb Support Organization Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Acfb Support Organization 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Acfb Support Organization Inc?
The mission of Acfb Support Organization Inc, as outlined, is centered around supporting Atlanta Community Food Bank Inc. This support includes facilitating the acquisition and construction of a new headquarters and distribution center. Acfb Support Organization Inc achieves this by securing loans from community development entity lenders, using the proceeds to complete the project, and then leasing the facility back to Atlanta Community Food Bank for their operations. The primary objective of this organization is to aid Atlanta Community Food Bank in their mission to combat hunger within the community by providing necessary programs and services.
Who is the CEO of Acfb Support Organization Inc?
Debra Shoaf is the Director of Acfb Support Organization Inc. The CEO's salary of Acfb Support Organization Inc is $0 and their total compensation is $354,824.
What is the revenue of Acfb Support Organization Inc?
Acfb Support Organization Inc's revenue in 2022 was $446,458.
Who are the executives of Acfb Support Organization Inc and what are their salaries?
There 3 volunteers at Acfb Support Organization Inc.
Here are 5 key members and their salaries (Acfb Support Organization Inc's CEO's salary is $0 and their total compensation is $354,824):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $317,173
- Other: $37,651
- Compensation: $0
- Related: $196,041
- Other: $28,015
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Acfb Support Organization Inc?
Acfb Support Organization Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Acfb Support Organization Inc
Acfb Support Organization Inc, operating for the benefit of Atlanta Community Food Bank Inc, is dedicated to supporting the Atlanta Community Food Bank's mission. This organization plays a crucial role in facilitating the acquisition and construction of a new headquarters and distribution center in Atlanta, Georgia. To accomplish this, Acfb Support Organization Inc obtains loans from community development entity lenders as part of a transaction involving New Markets Tax Credits. The proceeds from these loans are then utilized to complete the project, which is subsequently leased back to Atlanta Community Food Bank Inc for use in delivering programs and services aimed at combating hunger within the community. In essence, Acfb Support Organization Inc acts as a catalyst, enabling Atlanta Community Food Bank Inc to effectively carry out its mission of alleviating hunger.
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Impact
October, 2024
Acfb Support Organization Inc plays a crucial role in enhancing food security within the Atlanta community by facilitating the development of a new headquarters and distribution center for the Atlanta Community Food Bank (ACFB). Through strategic financing using loans obtained from community development entities, they are enabling the construction of this critical facility. The new center will significantly improve ACFB's capacity to store and distribute food, thereby amplifying their efforts to combat hunger.
The organization's focus on using New Markets Tax Credits to secure funding demonstrates a commitment to innovation in addressing social issues. By successfully managing this project, Acfb Support Organization Inc is not only investing in infrastructure but also ensuring that ACFB can provide a wider array of programs and services aimed at alleviating food insecurity in the community. This collaboration enhances the efficiency and effectiveness of hunger relief efforts, ultimately making a tangible impact on the lives of those in need throughout Atlanta.
This information is meant to be a general summary of Acfb Support Organization 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.
- Investment Income: $458
- Gross Receipts: $446,458
Assets and Liabilities:
- Total Assets: $40,862,639
- Total Liabilities: $46,981,404
- Net Assets: -$6,118,765
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Organization Details
Founding Year
2018
Phone
(404) 892-9822Principal Officer
Debra Shoaf
Main Address
3400 NORTH DESERT DRIVE, ATLANTA, GA, 30344
NTEE Category
Code: K11 - Food
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