Organizations Filed Purposes:
THE CORPORATION'S SPECIFIC PURPOSE IS TO ASSIST IN CARRYING OUT THE ECONOMIC DEVELOPMENT PROGRAMS AND OBJECTIVES OF THE CITY. IT WILL PROMOTE THE DEVELOPMENT, ESTABLISHMENT OR EXPANSION OF INDUSTRIES AND COMMERCE IN LOW-INCOME AREAS BY GENERATING PRIVATE INVESTMENT CAPITAL THROUGH THE NEW MARKETS TAX CREDIT ("NMTC") PROGRAM. THE CORPORATION WILL MAKE LOANS AVAILABLE FOR INVESTMENT IN "LOW-INCOME COMMUNITIES OR "LOW-INCOME PERSONS" (AS DEFINED IN THE LAW AND REGULATIONS GOVERNING THE NMTC PROGRAM). THE PRIMARY MISSION OF THE CORPORATION IS TO SERVE LOW-INCOME COMMUNITIES OR LOW-INCOME PERSONS BY PROVIDING INVESTMENT CAPITAL. THE ORGANIZATIONS'S ACTIVITES WILL TARGET ECONOMICALLY DISTRESSED COMMUNITIES WITHIN THE CITY.
THE CORPORATION HAS BEEN CERTIFIED AS A COMMUNITY DEVELOPMENT ENTITIY ("CDE") AND HAS AND WILL APPLY FOR ALLOCATION OF NEW MARKETS TAX CREDITS ("NMTCS"). THE CORPORATION HAS FORMED SUBSIDIARY LIMITED LIABILITY COMPANIES IN WHICH THE CORPORATION WILL SERVE AS THE MANAGING MEMBER. THE CORPORATION WILL APPLY ON BEHALF OF SUCH SUBSIDIARIES FOR CERTIFICATION AS CDES AND WILL SUB-ALLOCATE ITS NMTCS TO ONE OR MORE SUBSIDIARY CDES IN ACCORDANCE WITH THE LAWS AND REGULATIONS GOVERNING THE NMTC PROGRAM FOR PURPOSES OF MAKING QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS TO LOW-INCOME COMMUNITIES.
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 |
|---|
| Brian Strong | PRESIDENT | 1.5 | $0 |
| Joaquin Torres | VICE PRESIDENT | 1 | $0 |
| Nadia Sesay | TREASURER | 1.5 | $0 |
| Naomi M Kelly | SECRETARY | 1 | $0 |
| Tom Decaigny | BOARD MEMBER | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202001989349300715_public.xml