Overview
What is Alameda County Tobacco Asset Securitization Corporation?
The Alameda County Tobacco Asset Securitization Corporation is a public benefit organization based in Oakland, California. Established to aid Alameda County, California, the corporation facilitated the securitization of future tobacco settlement revenue owed to the county. In 2002, the corporation purchased the County's rights to this revenue and sold these rights to the issuer of tobacco revenue bonds. This transaction allowed the general public to invest in these securities, with the tobacco settlement proceeds serving as collateral.
Is Alameda County Tobacco Asset Securitization Corporation legitimate?
Alameda County Tobacco Asset Securitization Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Alameda County Tobacco Asset Securitization Corporation 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.
Here 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 Alameda County Tobacco Asset Securitization Corporation?
The Alameda County Tobacco Asset Securitization Corporation is a public benefit organization, established with the purpose of aiding a California county in securitizing future tobacco settlement proceeds. By purchasing the county's rights to these revenues and selling them to the issuer of tobacco revenue bonds, the organization facilitates the County's financial growth through securitization of future tobacco settlement payments. The organization's mission centers around providing assistance to the county by creating a financial solution through the sale of tobacco revenue bonds, backed by the future tobacco settlement receivables. This innovative approach allows the county to access funds immediately, improving its financial position and enabling it to address various needs. The securitization process also reduces the county's risk of revenue volatility, ensuring a more stable financial future.
Who is the CEO of Alameda County Tobacco Asset Securitization Corporation?
Melissa Wilk is the Cfo of Alameda County Tobacco Asset Securitization Corporation.
What is the revenue of Alameda County Tobacco Asset Securitization Corporation?
Alameda County Tobacco Asset Securitization Corporation's revenue in 2022 was $18,590,063.
Who are the executives of Alameda County Tobacco Asset Securitization Corporation and what are their salaries?
- Keith Carson (Board Member) [Trustee/Director]
- David Brown (Board Member) [Trustee/Director]
- Nathan Miley (Board Member) [Trustee/Director]
- Richard Valle (Chairperson)
- Anika Campbell-Belton (Secretary)
- Melissa Wilk (Cfo)
Where can I find the form 990 for Alameda County Tobacco Asset Securitization Corporation?
The Alameda County Tobacco Asset Securitization Corporation’s most recent form 990 was submitted in 2022 and can be accessed here
Mission Statement of Alameda County Tobacco Asset Securitization Corporation
Alameda County Tobacco Asset Securitization Corporation, also known as ACTASC, is a public benefit corporation with a mission to help the County of Alameda, California, secure its future tobacco settlement proceeds. ACTASC facilitates this process by purchasing the rights to these proceeds from the County and then selling them to the issuer of tobacco revenue bonds. These bonds, in turn, are sold to the general public. By doing so, ACTASC plays a crucial role in ensuring that the County receives a steady stream of revenue from tobacco settlements. This innovative financial solution enables the County to secure funds for various public projects and initiatives, ultimately benefiting the community as a whole. ACTASC's mission is an essential tool for the County of Alameda to capitalize on its tobacco settlement revenue and secure a financially stable future.
Impact
This information is meant to be a general summary of Alameda County Tobacco Asset Securitization Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The impact of Alameda County Tobacco Asset Securitization Corporation lies in its ability to assist the County of Alameda, California in securitizing amounts due from future receipts of tobacco settlement proceeds. Through the purchase and sale of rights to tobacco settlement revenue, the organization enables the County to generate funds by issuing tobacco revenue bonds to the general public. This process allows for the leveraging of future tobacco settlement revenue to finance public projects and services, ultimately benefiting the residents of Alameda County.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tobacco Settlement Rev.
Revenue
$18,090,107
Organization Details
Founding Year
2001
Phone
(510) 272-6565
Principal Officer
Melissa Wilk
Main Address
1221 Oak Street, Oakland, CA, 94612
NTEE Category
Code: W99 - Public benefit
If you are a representative of Alameda County Tobacco Asset Securitization Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.