Overview
What is Georgia Environmental Loan Acquisition Corporation Gelac?
The Georgia Environmental Loan Acquisition Corporation, abbreviated as Gelac, is a nonprofit organization situated in Atlanta, Georgia. Established with the primary goal of purchasing loans from its parent company, the Georgia Environmental Finance Authority, Gelac then issues tax-exempt bonds secured by the repayment of these loans. The corporation's activities primarily revolve around servicing these tax-exempt loans, which it acquired during its initial operational years. This service involves managing billing processes and receiving payments. Gelac's operations are funded through the interest earned from these loan issuances and investment income derived from these receipts.
Is Georgia Environmental Loan Acquisition Corporation Gelac legitimate?
Georgia Environmental Loan Acquisition Corporation Gelac is a legitimate nonprofit organization registered as a 501(c)(3) entity. Georgia Environmental Loan Acquisition Corporation Gelac 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.
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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Georgia Environmental Loan Acquisition Corporation Gelac?
Georgia Environmental Loan Acquisition Corporation Gelac's mission primarily revolves around servicing loans it acquired during its initial years of operation. The organization's activities encompass billing its customers and receiving their payments. Established to purchase loans from its parent company, the Georgia Environmental Finance Authority, Gelac issues tax-exempt bonds secured by the repayment of these loans. Its operational activities are funded through the interest earned from these bond issuances and investment income derived from these receipts.
Who is the CEO of Georgia Environmental Loan Acquisition Corporation Gelac?
Hunter Hill is the President of Georgia Environmental Loan Acquisition Corporation Gelac.
What is the revenue of Georgia Environmental Loan Acquisition Corporation Gelac?
Georgia Environmental Loan Acquisition Corporation Gelac's revenue in 2023 was $3,089,755.
Who are the executives of Georgia Environmental Loan Acquisition Corporation Gelac and what are their salaries?
- Hunter Hill (President)
- Jammie Harden (Vpsecretarytreasurer)
- Lonice Barrett (Board Chairman)
- Joshua Belinfante (Board Member)
Where can I find the form 990 for Georgia Environmental Loan Acquisition Corporation Gelac?
The Georgia Environmental Loan Acquisition Corporation Gelac’s most recent form 990 was submitted in 2023 and can be accessed here
Mission Statement of Georgia Environmental Loan Acquisition Corporation Gelac
Georgia Environmental Loan Acquisition Corporation Gelac's primary mission involves servicing loans that it acquired during its initial operational years. This organization, established to purchase loans from its parent company, Georgia Environmental Finance Authority, aims to issue tax-exempt bonds secured by the repayment of these loans. The corporation's activities are centered around managing these acquired loans, which includes billing customers and receiving payments. By undertaking these tasks, Gelac plays a crucial role in facilitating the repayment of environmental loans, thereby contributing to the overall financial sustainability of its operations.
Impact
This information is meant to be a general summary of Georgia Environmental Loan Acquisition Corporation Gelac. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Georgia Environmental Loan Acquisition Corporation (GELAC) has a significant impact on the environment and public benefit by facilitating the financing of environmental projects through tax-exempt loans. GELAC's mission is to support the Georgia Environmental Finance Authority by purchasing loans and issuing tax-exempt bonds secured by the repayment of those loans. This enables environmental projects to receive financing at favorable terms, ultimately leading to the improvement of environmental quality in Georgia. GELAC's activities contribute to the sustainability and conservation of the environment, making a positive impact on communities and ecosystems.
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 2023.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interst on loans recei
Revenue
$551,389
Organization Details
Founding Year
2010
Phone
(404) 584-1139
Principal Officer
Hunter Hill
Main Address
47 Trinity Avenue SW Ste 5th FL, Atlanta, GA, 30334
NTEE Category
Code: W99 - Public benefit
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