Overview
What is Abag Finance Corporation?
Abag Finance Corporation is a nonprofit organization that serves as a financial intermediary for city and county governments. They issue certificates of participation to private investors, allowing these investors to finance property on their behalf through credit pooling arrangements. In such arrangements, investors become the lessees of the property. However, Abag Finance Corporation has announced a pause in engaging in new financing transactions or program activities during the current fiscal year 2022.
Official website here: www.abag.ca
Is Abag Finance Corporation legitimate?
Abag Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Abag Finance Corporation submitted a form 990EZ, 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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Official website here: www.abag.ca
What is the mission statement of Abag Finance Corporation?
Abag Finance Corporation's primary mission is to facilitate financing for property development on behalf of city and county governments. It achieves this by issuing certificates of participation to private investors, who in turn become the lessees of the property through credit pooling arrangements. Notably, Abag Finance Corporation has announced that it will not undertake any new financing transactions or engage in program activities during the fiscal year 2022.
Official website here: www.abag.ca
What is the revenue of Abag Finance Corporation?
Abag Finance Corporation's revenue in 2024 was $368.
Official website here: www.abag.ca
Who are the executives of Abag Finance Corporation and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.abag.ca
Where can I find the form 990EZ for Abag Finance Corporation?
Abag Finance Corporation's most recent form 990EZ was submitted in 2024 and can be accessed here.
Official website here: www.abag.ca
Learn more at the official website: www.abag.ca
Mission Statement of Abag Finance Corporation
Abag Finance Corporation, a financial entity, carries out a unique mission. It issues certificates of participation to private investors, serving as a financing solution for property owned by member city and county governments. This approach allows private investors to become the lessees of the property through credit pooling arrangements. However, it's worth noting that during the fiscal year 2022, Abag Finance Corporation will not engage in any new financing transactions or program activities. This pause in new activities indicates a strategic focus on existing commitments, maintaining its role as a financial facilitator for local governments.
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Impact
October, 2024
Abag Finance Corporation has a significant impact on local governance and community development through its innovative financing solutions. By issuing certificates of participation to private investors, it enables city and county governments to fund essential property projects that might otherwise face funding challenges. This financial mechanism allows municipalities to acquire necessary facilities without bearing the initial financial burden, facilitating development in various sectors, such as affordable housing, public infrastructure, and community services.
Moreover, the corporation's credit pooling arrangements offer a collaborative approach to financing, where multiple municipalities can share resources and financial responsibilities. This not only lowers borrowing costs but also enhances investment opportunities for private investors while contributing to the public good. Although Abag Finance Corporation paused new financing transactions and program activities during the fiscal year 2022, its established framework continues to support the existing properties and initiatives that serve the community's needs. Through these actions, Abag Finance Corporation plays a vital role in fostering sustainable growth and improving the quality of life in the member jurisdictions it serves.
This information is meant to be a general summary of Abag Finance 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 2024.
- Investment Income: $368
- Gross Receipts: $368
Assets and Liabilities:
- Total Assets: $15,527
- Total Liabilities: $0
- Net Assets: $15,527
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Organization Details
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