Brcc Facilities Corporation
Brcc Facilities Corporation
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About this organization
Revenue
$5,250,818
Expenses
$4,524,866
Mission
THE EXEMPT PURPOSE OF THE CORPORATION IS TO CONSTRUCT A NUMBER OF BUILDINGS WITH ACADEMIC FACILITIES AND OFFICES FOR THE BATON ROUGE COMMUNITY COLLEGE (BRCC). THE CORPORATION PRESENTLY LEASES REAL PROPERTY LOCATED IN BATON ROUGE, LOUISIANA FROM THE LOUISIANA COMMUNITY AND TECHNICAL COLLEGE SYSTEM (LCTCS), A STATE INSTITUTION, AND HAS CONSTRUCTED FACILITIES AND WILL CONSTRUCT ADDITIONAL FACILITIES TO HOUSE THE CAMPUS OF BRCC, A STATE COMMUNITY COLLEGE OPERATED BY THE LCTCS. THE CONSTRUCTION WAS FINANCED THROUGH A BOND ISSUE BY THE LOUISIANA LOCAL GOVERNMENT ENVIRONMENT FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY (LCDA). THE FACILITIES ARE LEASED TO LCTCS UNDER A NET LEASE WITH AN OPTION TO PURCHASE THE FACILITIES OF BRCC. THE LEASE PAYMENTS FROM THE LEASE WILL BE USED TO REPAY THE BOND FINANCING. THE FUNDS FOR LCTCS TO PAY THE LEASE PAYMENTS WILL BE APPROPRIATED BY THE STATE OF LOUISIANA UNDER A COOPERATIVE ENDEAVOR AGREEMENT.
About
THE EXEMPT PURPOSE OF THE CORPORATION IS TO CONSTRUCT A NUMBER OF BUILDINGS WITH ACADEMIC FACILITIES AND OFFICES FOR THE BATON ROUGE COMMUNITY COLLEGE (BRCC). THE CORPORATION PRESENTLY LEASES REAL PROPERTY LOCATED IN BATON ROUGE, LOUISIANA FROM THE LOUISIANA COMMUNITY AND TECHNICAL COLLEGE SYSTEM (LCTCS), A STATE INSTITUTION, AND HAS CONSTRUCTED FACILITIES AND WILL CONSTRUCT ADDITIONAL FACILITIES TO HOUSE THE CAMPUS OF BRCC, A STATE COMMUNITY COLLEGE OPERATED BY THE LCTCS. THE CONSTRUCTION WAS FINANCED THROUGH A BOND ISSUE BY THE LOUISIANA LOCAL GOVERNMENT ENVIRONMENT FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY (LCDA). THE FACILITIES ARE LEASED TO LCTCS UNDER A NET LEASE WITH AN OPTION TO PURCHASE THE FACILITIES OF BRCC. THE LEASE PAYMENTS FROM THE LEASE WILL BE USED TO REPAY THE BOND FINANCING. THE FUNDS FOR LCTCS TO PAY THE LEASE PAYMENTS WILL BE APPROPRIATED BY THE STATE OF LOUISIANA UNDER A COOPERATIVE ENDEAVOR AGREEMENT. AFTER THE BOND FINANCING IS REPAID, THE BUILDINGS WILL BE TRANSFERRED TO THE STATE OF LOUISIANA FOR THE USE OF LCTCS.
Interesting data from their 2020 990 filing
The mission of the non-profit, as stated in the filing, is “See schedule o”.
When referring to its tasks, they were described as: “The exempt purpose of the corporation is to construct a number of buildings with academic facilities and offices for the baton rouge community college (brcc). the corporation presently leases real property located in baton rouge, louisiana from the louisiana community and technical college system (lctcs), a state institution, and has constructed facilities and will construct additional facilities to house the campus of brcc, a state community college operated by the lctcs. the construction was financed through a bond issue by the louisiana local government environment facilities and community development authority (lcda). the facilities are leased to lctcs under a net lease with an option to purchase the facilities of brcc. the lease payments from the lease will be used to repay the bond financing. the funds for lctcs to pay the lease payments will be appropriated by the state of louisiana under a cooperative endeavor agreement.”.
- The non-profit is operating legally in the state of LA.
- The non-profit's address for the year 2020 is listed as 8442 EAST THRUMAN DRIVE, BATON ROUGE, LA, 70806 in the filing.
- The form submitted by the non-profit organization for 2020 reports 0 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $725,952.
- The organization has 3 independent voting members.
- The organization was formed in 2002.
- The organization pays $0 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.