Civic San Diego Economic Growth and Neighborhood Investment Fund
Civic San Diego Economic Growth and Neighborhood Investment Fund
Want to make a donation using Daffy?
Lower your income taxes with a charitable deduction this year when you donate to this non-profit via Daffy.
Do you work for Civic San Diego Economic Growth and Neighborhood Investment Fund? Learn more here.
About this organization
Mission
the Civic San Diego Economic Growth and Neighborhood Investment Fund (Growth Fund) is a nonprofit public benefit corporation created to make qualified low income community investments in the city of San Diego or other activities which qualify for new market tax credits (NMTC). the Growth Fund's purpose is also to engage in (1) raising equity for investment by the Growth Fund or its affiliated entities; (2) form subsidiary limited liability companies which the Growth Fund serves as manager or managing member, or subsidiary limited partnerships in which the Growth Fund serves as general partner; (3) apply on behalf of subsidiaries for their certification as a qualified community development entity (CDE) as defined in section 45D of internal revenue code; (4) transfer any allocations of NMTCs the Growth Fund receives to subsidiary CDEs; and (5) raise equity for investment in subsidiary CDEs.
About
served as managing member of subsidary CDEs which authorized allocations of $96,850,000 of new markets tax credits to seven subsidiary CDEs. these allocations assist the organizations to fund construction projects and or programs in underserved communities in San Diego County.
Interesting data from their 2020 990 filing
The purpose of the non-profit, as set forth in the filing, is “The growth fund was created to make qualified low income community investments in the city of san diego or other activities which qualify for new market tax credits (nmtc). the growth fund's purpose is also to engage in (1) raising equity for investment by the growth fund or its affiliated entities; (2) form subsidiary limited liability companies which the growth fund serves as manager or managing member, or subsidiary limited partnerships in which the growth fund serves as general partner; (3) apply on behalf of subsidiaries for their certification as a qualified community development entity (cde) as defined in section 45d of internal revenue code; (4) transfer any allocations of nmtcs the growth fund receives to subsidiary cdes; and (5) raise equity for investment in subsidiary cdes.”.
When detailing its duties, they were outlined as: “The civic san diego economic growth and neighborhood investment fund (growth fund) is a nonprofit public benefit corporation created to make qualified low income community investments in the city of san diego or other activities which qualify for new market tax credits (nmtc). the growth fund's purpose is also to engage in (1) raising equity for investment by the growth fund or its affiliated entities; (2) form subsidiary limited liability companies which the growth fund serves as manager or managing member, or subsidiary limited partnerships in which the growth fund serves as general partner; (3) apply on behalf of subsidiaries for their certification as a qualified community development entity (cde) as defined in section 45d of internal revenue code; (4) transfer any allocations of nmtcs the growth fund receives to subsidiary cdes; and (5) raise equity for investment in subsidiary cdes.”.
- The state in which the non-profit is legally authorized to operate is CA, as reported.
- The filing confirms that the non-profit's address in 2020 was 401 B STREET NO 400, SAN DIEGO, CA, 92101.
- The non-profit's form for the year 2020 reports a total of 0 employees on their payroll.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $337,891.
- The organization has 9 independent voting members.
- The organization was formed in 2013.
- The organization pays $0 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
Additional Non-Profits in the area
By donating on this page you are making an irrevocable contribution to Daffy Charitable Fund, a 501(c)(3) public charity, and a subsequent donation recommendation to the charity listed above, subject to our Member Agreement. Contributions are generally eligible for a charitable tax-deduction and a yearly consolidated receipt will be provided by Daffy. Processing fees may be applied and will reduce the value available to send to the end charity. The recipient organizations have not provided permission for this listing and have not reviewed the content.
Donations to organizations are distributed as soon as the donation is approved and the funds are available. In the rare event that Daffy is unable to fulfill the donation request to this charity, you will be notified and given the opportunity to choose another charity. This may occur if the charity is unresponsive or if the charity is no longer in good standing with regulatory authorities.