Organizations Filed Purposes:
THE CORPORATION WAS FORMED FOR EDUCATIONAL AND CHARITABLE PURPOSES, SPECIFICALLY TO UNDERTAKE CERTAIN OBLIGATIONS WITH RESPECT TO THE ACQUISITION OR SALE OF REAL AND/OR PERSONAL PROPERTY IN CONNNECTION WITH THE DESIGN, CONSTRUCTION, OPERATION, FINANCING, AND REFINANCING OF EDUCATION FACILITIES TO BE USED BY THE BEAUFORT COUNTY SCHOOL DISTRICT AND SUCH OTHER PROJECTS LOCATED IN AND FOR THE BENEFIT OF THE SCHOOL DISTRICT AS MAY BE PERMITTED BY APPLICABLE LAW.
SERIES 2006 TAX-EXEMPT BONDS WERE ISSUED PURSUANT TO A FACILITIES AGREEMENT BETWEEN THE SCHOOL DISTRICT AND THE EDUCATIONAL FACILITIES CORPORATION AND EVIDENCE CERTAIN PROPORTIONATE INTERESTS OF THE OWNERS IN CERTAIN RENTAL PAYMENTS BE MADE BY THE SCHOOL DISTRICT UNDER THE TERMS OF A BASE LEASE AGREEMENT BETWEEN THE SCHOOL DISTRICT AND THE EFC. THE SERIES 2006 BONDS WERE THEN REFUNDED BY SERIES 2016 BONDS.THE SCHOOL DISTRICT WILL PURCHASE THE FACILITIES FROM THE EFC PURSUANT TO THE FACILITIES AGREEMENT, WHICH WILL OBLIGATE THE SCHOOL DISTRICT TO MAKE INSTALLMENT PAYMENTS OF PURCHASE PRICE (LEASE RENTAL PAYMENTS) TO THE EFC IN AMOUNTS CALCULATED TO BE SUFFICIENT TO ENABLE THE EFC TO PAY THE PRINCIPAL AND INTEREST ON THE OUTSTANDING SERIES 2016 BONDS.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Dr Frank Rodriguez | DIRECTOR | 0.5 | $120,509 |
| Missy Campbell | DIRECTOR | 0.5 | $0 |
| Glenn A Stiegman Jr | DIRECTOR 7/1/19 TO 10/8/19 | 0.5 | $0 |
| J Brock Heron | VICE PRESIDENT | 0.5 | $0 |
| John K Gardner | PRESIDENT | 0.5 | $0 |
| Tonya Crosby | SECRETARY/TREASURER | 0.5 | $0 |
| Dr Herbert M Berg | DIRECTOR 1/2019 TO 6/2019 | 0.5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202110779349300521_public.xml