Overview
What is City Of Anderson Public Facilities Corporation?
The City of Anderson Public Facilities Corporation is a nonprofit entity situated in Anderson, South Carolina. Its primary mission is to aid the city in financing the construction of a municipal parking garage. To accomplish this goal, the corporation has entered into an agreement with the city, which involves making payments for debt service related to the taxable bond issue used to fund the project and contributing towards the eventual acquisition of the parking garage by the city. This collaborative effort between the corporation and the city aims to facilitate the development of a much-needed parking facility in Anderson.
Is City Of Anderson Public Facilities Corporation legitimate?
City Of Anderson Public Facilities Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. City Of Anderson Public Facilities 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of City Of Anderson Public Facilities Corporation?
The City of Anderson Public Facilities Corporation's mission is centered around assisting its primary city in financing the construction of a municipal parking garage. To accomplish this, the corporation is currently engaged in constructing the parking facility. The corporation has a contract with the city, which stipulates periodic payments from the city. These payments include debt service for the taxable bond issue utilized to offset the project's costs and contributions towards the city's eventual acquisition of the project.
Who is the CEO of City Of Anderson Public Facilities Corporation?
David Mccuen Iv is the President of City Of Anderson Public Facilities Corporation.
What is the revenue of City Of Anderson Public Facilities Corporation?
City Of Anderson Public Facilities Corporation's revenue in 2022 was $1,440,503.
Who are the executives of City Of Anderson Public Facilities Corporation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $152,664
- Other: $23,809
- Compensation: $0
- Related: $122,057
- Other: $23,444
- Compensation: $0
- Related: $86,380
- Other: $18,794
Where can I find the form 990 for City Of Anderson Public Facilities Corporation?
City Of Anderson Public Facilities Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of City Of Anderson Public Facilities Corporation
The City of Anderson Public Facilities Corporation is an entity with a specific mission. Its primary objective is to aid the City of Anderson in financing the construction of a municipal parking garage. To accomplish this, the Corporation has entered into an agreement with the city, which stipulates that the city will make payments to cover the debt service of the taxable bond issue utilized to offset the project's costs, as well as contributions towards the acquisition of the project by the city itself. In essence, the Corporation's role is to facilitate the financing and execution of a municipal parking garage project for the benefit of the City of Anderson.
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Impact
October, 2024
The City of Anderson Public Facilities Corporation plays a pivotal role in the development of essential infrastructure for the City of Anderson through the construction of a municipal parking garage. This project aims to alleviate parking challenges in the area, enhancing accessibility for residents, visitors, and businesses alike.
By facilitating financing and managing the construction process, the Corporation directly supports the city’s growth and economic development. The agreement between the Corporation and the City ensures that the debt service on the taxable bonds issued is covered, allowing for a streamlined approach to funding the garage. This not only addresses immediate parking needs but also fosters an environment conducive to further investment and community activities.
In essence, the impact of the City of Anderson Public Facilities Corporation extends beyond mere construction; it contributes to improved urban infrastructure, promotes local economic vitality, and enhances the overall quality of life in Anderson.
This information is meant to be a general summary of City Of Anderson Public Facilities 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 2022.
- Program Service Revenue: $1,440,503
- Gross Receipts: $1,440,503
Assets and Liabilities:
- Total Assets: $10,314,286
- Total Liabilities: $6,479,000
- Net Assets: $3,835,286
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CITY ACQUISITION PAYMENTS
Revenue
$955,420
CITY BASE PAYMENTS
Revenue
$485,083
Organization Details
Founding Year
2020
Phone
(864) 231-2203Principal Officer
David Mccuen Iv
Main Address
401 S MAIN STREET, ANDERSON, SC, 29624
NTEE Category
Code: W22 - Public benefit
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