Organizations Filed Purposes:
TO SUPPORT ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH ITS INVESTMENTS IN, AND LOANS TO, REAL ESTATE DEVELOPMENT PROJECTS AND OPERATING BUSINESSES LOCATED IN URBAN AND RURAL LOW-INCOME COMMUNITIES IN MISSISSIPPI.
THE ORGANIZATION HAS BEEN CERTIFIED BY THE U.S. TREASURY'S COMMUNITY DEVELOPMENT FINANCIAL INSTITIUTIONS FUND AS A COMMUNITY DEVELOPMENT ENTITY (CDE). AS A CDE, THE ORGANIZATION'S PRIMARY MISSION IS TO PROVIDE LOANS, EQUITY INVESTMENTS OR FINANCIAL SERVICES TO QUALIFIED BUSINESSES IN LOW-INCOME COMMUNITIES OF THE ORGANIZATION'S SERVICE AREA.THE ORGANIZATION HAS ESTABLISHED LIMITED LIABILITY COMPANIES AS SUBSIDIARIES TO ACCOMPLISH ITS MISSION. THE SUBSIDIARIES PAY FEES TO THE ORGANIZATION IN CONSIDERATION FOR OBTAINING AND ASSIGNING NEW MARKETS TAX CREDIT ALLOCATION AUTHORITY, AND FOR ASSISTANCE IN SELECTING AND EVALUATING PROJECTS TO PROVIDE INVESTMENT CAPITAL TO UNDERSERVED MARKETS. IN ADDITION, THE SUBSIDIARIES PAY ANNUAL MANAGEMENT FEES TO THE ORGANIZATION FOR MANAGEMENT SERVICES PROVIDED BY THE ORGANIZATION.
THE ORGANIZATION USES ITS NEW MARKETS TAX CREDIT ALLOCATION TO SUPPORT REAL ESTATE DEVELOPMENT PROJECTS AND OPERATING BUSINESSES LOCATED IN 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 |
|---|
| Ashby Foote | SECRETARY/TREASURER | 1 | $0 |
| Jr Jones | VICE PRESIDENT | 1 | $0 |
| Rusty Hawkins | PRESIDENT | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201843199349316024_public.xml