Overview
What is 1231-1235 Good Hope Road Inc?
1231-1235 Good Hope Road Inc is a nonprofit organization established with a mission to foster inclusive entrepreneurship in the Washington, D.C., area, specifically in Ward 8. They aim to achieve this by leveraging various sources of capital, such as the New Markets Tax Credits (NMTC) program, to construct, equip, and manage commercial, office, and retail spaces. The organization's purpose is to support the functions and objectives of the Washington Area Community Investment Fund, Inc. (WACIF), ultimately contributing to the economic growth and development of the local community.
Is 1231-1235 Good Hope Road Inc legitimate?
1231-1235 Good Hope Road Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1231-1235 Good Hope Road 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
For more financial information, click here
What is the mission statement of 1231-1235 Good Hope Road Inc?
1231-1235 Good Hope Road Inc's mission is centered around supporting the functions and fulfilling the purposes of the Washington Area Community Investment Fund, Inc. (WACIF). The corporation aims to achieve this by creating an inclusive entrepreneurship hub, utilizing various capital sources such as the New Markets Tax Credits (NMTC) program. They intend to design, construct, and equip commercial, office, and retail spaces, ultimately operating and maintaining these facilities in a specific community. The primary objective is to qualify as a "Qualified Active Low-Income Community Business" under Section 45D of the code, thereby contributing to the development of the local area.
Who is the CEO of 1231-1235 Good Hope Road Inc?
Dawnn Leary is the Cfoo Of Wacif of 1231-1235 Good Hope Road Inc.
What is the revenue of 1231-1235 Good Hope Road Inc?
1231-1235 Good Hope Road Inc's revenue in 2022 was $188,200.
Who are the executives of 1231-1235 Good Hope Road Inc and what are their salaries?
There 3 volunteers at 1231-1235 Good Hope Road Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $153,685
- Other: $23,668
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for 1231-1235 Good Hope Road Inc?
1231-1235 Good Hope Road Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 1231-1235 Good Hope Road Inc
1231-1235 Good Hope Road Inc's mission is centered around fully supporting the functions and fulfilling the purposes of the Washington Area Community Investment Fund, Inc. (WACIF). This mission involves acting as an integral partner, contributing to WACIF's objectives in various ways. The corporation aims to create a hub for inclusive entrepreneurship, utilizing multiple sources of capital such as the New Markets Tax Credits (NMTC) program. This hub will be designed, constructed, and equipped with commercial, office, and retail spaces in a low-income community. By meeting the criteria to be classified as a "Qualified Active Low-Income Community Business" under Section 45D of the code, 1231-1235 Good Hope Road Inc intends to carry out the construction, development, and equipping of the project, ultimately contributing to the economic growth and development of the community.
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Impact
October, 2024
1231-1235 Good Hope Road Inc plays a crucial role in fostering inclusive entrepreneurship in the Ward 8 community of Washington, D.C. By transforming its acquired property into a hub for business activity, the organization focuses on creating commercial, office, and retail spaces that cater to the local community's needs. Leveraging resources like the New Markets Tax Credits program, it aims to stimulate economic growth through the development and operation of these spaces.
The initiative not only promotes entrepreneurial efforts but also prioritizes the integration of various forms of capital to support businesses in low-income areas. By qualifying as a "Qualified Active Low-Income Community Business," 1231-1235 Good Hope Road Inc is positioned to make a lasting impact on the local economy, enhance community infrastructure, and provide opportunities for residents to engage in business ownership and economic advancement. Through these efforts, the organization contributes to broader community improvement and resilience.
This information is meant to be a general summary of 1231-1235 Good Hope Road 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.
- Gross Receipts: $188,200
Assets and Liabilities:
- Total Assets: $6,483,142
- Total Liabilities: $5,397,984
- Net Assets: $1,085,158
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Organization Details
Founding Year
2021
Phone
(202) 529-5505Principal Officer
Dawnn Leary
Main Address
2012 RHODE ISLAND AVENUE NE, WASHINGTON, DC, 20018
NTEE Category
Code: S11 - Community improvement
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