Overview
What is Mnc 1240 Valencia Inc?
Mnc 1240 Valencia Inc is a support organization, primarily focused on aiding the activities of another entity identified as MNC. Located at 362 CAPP Street, San Francisco, California 94110, this nonprofit organization holds the leasehold interest in a property situated at 1240 Valencia Street, San Francisco, CA 94102. The main purpose of Mnc 1240 Valencia Inc is to qualify as a Qualified Active Low Income Community Business (QALICB), enabling it to receive Qualified Low Income Community Investment (QLICI) loans under New Market Tax Credit (NMTC) programs. This nonprofit organization plays a crucial role in supporting the operations and objectives of MNC, without disclosing the specifics of MNC's activities.
Is Mnc 1240 Valencia Inc legitimate?
Mnc 1240 Valencia Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mnc 1240 Valencia 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 Mnc 1240 Valencia Inc?
Mnc 1240 Valencia Inc, as per its stated mission, is primarily dedicated to holding a leasehold interest in a property, which is then leased out to another entity named MNC. In a broader context, this corporation serves as a support organization for the activities of MNC. Mnc 1240 Valencia Inc operates the site in a manner that qualifies it as a Qualified Active Low Income Community Business (QALICB), enabling it to receive Qualified Low Income Community Investment (QLICI) loans under the New Market Tax Credit (NMTC) scheme. The primary objective of this organization is to support the activities of MNC, without specifying the nature of those activities.
Who is the CEO of Mnc 1240 Valencia Inc?
Beiling Gonzalez is the Principal Officer of Mnc 1240 Valencia Inc.
What is the revenue of Mnc 1240 Valencia Inc?
Mnc 1240 Valencia Inc's revenue in 2022 was $363,508.
Who are the executives of Mnc 1240 Valencia Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $494,616
- Other: $4,481
- Compensation: $0
- Related: $213,903
- Other: $30,782
- Compensation: $0
- Related: $178,488
- Other: $4,885
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Mnc 1240 Valencia Inc?
Mnc 1240 Valencia Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mnc 1240 Valencia Inc
Mnc 1240 Valencia Inc is a support organization with a specific mission. Its primary purpose is to hold the leasehold interest for a property, which is currently leased to another entity, known as MNC. The role of Mnc 1240 Valencia Inc is to operate the site in a manner that qualifies it as a Qualified Active Low Income Community Business (QALICB), eligible to receive Qualified Low Income Community Investment (QLICI) loans under the New Market Tax Credit (NMTC) scheme. This mission underscores its commitment to supporting the activities of the leased entity, MNC, in a manner that contributes to the betterment of the low-income community.
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Impact
October, 2024
MNC 1240 Valencia Inc plays a significant role in the San Francisco community by managing the property at 1240 Valencia Street, which is crucial for supporting the initiatives of MNC. This organization enables the site to qualify as a Qualified Active Low-Income Community Business (QALICB), allowing it to access Qualified Low-Income Community Investment (QLICI) loans under the New Market Tax Credit (NMTC) program.
By maintaining the leasehold interest in the property, MNC 1240 Valencia Inc facilitates the development and implementation of programs focused on youth development. This initiative directly contributes to addressing community needs and empowering young individuals through various supportive activities. As a result, the organization fosters a positive impact in the lives of youth in San Francisco, promoting growth, access to resources, and overall community development.
This information is meant to be a general summary of Mnc 1240 Valencia 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: $164
- Program Service Revenue: $363,344
- Gross Receipts: $363,508
Assets and Liabilities:
- Total Assets: $11,072,530
- Total Liabilities: $10,929,518
- Net Assets: $143,012
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rent
Revenue
$363,344
Organization Details
Founding Year
2020
Phone
(877) 829-5500Principal Officer
Beiling Gonzalez
Main Address
362 CAPP STreet, San Francisco, CA, 94110
NTEE Category
Code: O99 - Youth development
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